A two-judge bench comprising Chief Justice fo India(CJI) Ranjan Gogoi and Justice Sanjiv Khanna did not allow the application filed by some investors that despite the apex court's 2013 order directing the CBI to probe the chit fund scam, the investigation has not attained finality.
"We are not inclined to set up a monitoring committee to monitor the chit fund scam probe," the bench said.
The development has come at a time when the CBI has been investigating the Kolkata police chief Rajeev Kumar and former TMC leader Kunal Ghosh in connection with the case.
The Court had earlier directed Kumar to appear before the CBI and "faithfully" cooperate in the investigation of cases arising out of the Saradha chit fund scam.
The apex court's order also asked Kumar to appear before the investigating agency at a "neutral place" in Shillong "to avoid all unnecessary controversy" and made clear that he would not be arrested.
The CBI had moved the Supreme Court after its officials were thwarted by Kolkata police when they had gone to Kumar's official residence in Kolkata to question him on February 3.
An unprecedented tussle between the West Bengal government and the Centre had erupted following the CBI's attempt to raid the residence of the Kolkata police officials.
The officials, however, had to beat a hasty retreat from Police commissioner Rajeev Kumar's residence after its officials were not only prevented by guards from entering the premises but were also detained by Kolkata police.
(With inputs from agencies)
The court's decision came in response to the Saradha investors who had asked the Supreme Court to monitor the case.