Dharmaraj, a professor at the University who was arrested for allegedly brokering the deal, was also sent to judicial custody.
Ganapathy was arrested by the Directorate of Vigilance and Anti Corruption (DVAC) yesterday for allegedly accepting Rs 30 lakh as bribe from one Suresh for the post of Assistant Professor.
Following a 12-hour search and interrogation at their offices and residences, Ganapathy and Dharmaraj were taken to the Government Hospital for a medical checkup last night and produced before the judge of Special Court of Prevention of Corruption Act John Mino, in the early hours today.
The judge ordered the remand of both the accused till February 16.
While being taken to court, Ganapathy told reporters that it was a conspiracy against him.
He has filed a bail petition before the court which is likely to come up for hearing on February 6.
Both were booked under section 7, 13 (1)D and 14 of the Prevention of Corruption Act, police said.
The two are lodged in the Central jail here, they added.