A bench headed by Chief Justice Dipak Misra, however, made clear that the LOCs, issued on June 16 and July 28 last year against the accused shall remain in force till the Madras High Court takes a decision on the petitions.
The bench, which also comprised Justices AM Khanwilkar and DY Chandrachud, ordered that the division bench headed by the High Court Chief Justice will decide the petitions within two months from today.
It considered the submissions of Additional Solicitor General Tushar Mehta, representing the CBI, that the argument of the probe agency with regard to the fact that the Madras High Court has no territorial jurisdiction to deal with the LOC cases shall be kept open for adjudication.
The bench also empowered the high court to deal with the applications of the accused seeking permission to go abroad on merits.
Earlier, a single judge bench of the Madras High Court had stayed the LOC issued against Karti and others in a graft case relating to grant of Foreign Investment Promotion Board (FIPB) clearance to INX Media for receiving overseas funds to the tune of Rs 305 crore in 2007 when Mr Karti's father was the Union Finance Minister.
Later, the top court considered the appeal of CBI and stayed the operation of the High Court order staying the LOC.
The Supreme Court, however, had kept to itself another batch of petitions pertaining to registration of FIR in the corruption case.
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