The court acquitted the accused citing lack of evidence.
Sharma, who is serving life term in Tihar Jail along with his accomplices Bhagwan, Pradeep Sharma and Satya Prakash for having killed Shivani, an Indian Express scribe in her Navkunj Apartments flat at IP Extension in East Delhi on January 2, 1999.
Meanwhile, Pradeep Sharma, the hired killer who actually killed Shivani would continue to be in jail as he was awarded life sentence by High Court.
A bench of justices B D Ahmed and Manmohan Singh said, "Accused R K Sharma, Sri Bhagwan Sharma and Satya Prakash get the benefit of doubt. We, however, uphold the conviction of Pradeep Sharma in the case."
Today's verdict has come after RK Sharma and three others had challenged their conviction and life sentence in the case over a decade ago.