CBI, however, prayed that the court directs West Bengal government to provide manpower and other logistic support if required by it to investigate the case.
Four petitions were moved before a division bench comprising Chief Justice Arun Mishra and justice Joymalyo Bagchi seeking CBI probe into the Ponzi scam.
West Bengal government has opposed a CBI probe into the scam, claiming that the state investigating agency was doing a fine job and has already arrested the chairman of Saradha Group, Sudipta Sen and some others in connection with the scam.
The scam came into the open following the closure of a number of media houses run by Saradha Group, one of the major players in the Ponzi business.
With lakhs of investors, mostly from the low income group having been duped, the state government ordered an investigation and the Bidhannagar Police started probing the issue.
Hearing of the petitions seeking CBI probe is scheduled to be held on Wednesday.