A bench headed by Justice AK Ganguly refused to interfere in the proceedings of the lower court, which is conducting the trial in the case, and dismissed the plea of the 72-year-old politician.
The court, however, made it clear that it was not making any observation on the merits of the case and it will be decided by the trial court.
The court passed the order on an appeal filed by Laxman challenging the Delhi High Court's order refusing to quash the proceedings against him.
The case, lodged by the CBI, pertains to 2001 when a sting operation was done by Tehelka news portal purportedly showing Laxman receiving money from undercover journalists, posing as arms dealers, for recommending to the Defence Ministry purchase of their wares for the Army.
The video CDs of sting operation were released on May 13, in 2001 by the portal.