A bench of justices Ranjana Prakash Desai and N V Ramana refused to entertain his plea, saying the allegations against him are very grave and he cannot be granted bail at this stage.
"You wait for a while. You can always renew your plea for bail," the bench told senior advocate Sushil Kumar who appeared for the politician.
He moved the apex court challenging the Allahabad High Court order rejecting his bail plea in the scam which had taken place during the previous Bahujan Samaj Party government headed by Mayawati.
The case is being investigated by the CBI which had submitted charge sheet against the accused persons and at present its trial is going on in a CBI court at Ghaziabad.