Gadkar had moved second bail application after her first application was rejected by Kurla metropolitan magistrate's court.
35-year-old Gadkar in her bail application has said that the investigation in the case was over and hence she could be granted bail.
She has also said that the police have got various documents like blood report, RTO report etc while all the injured victims are discharged from the hospital.
However, the prosecution opposed her bail plea saying that the case was a serious one and would be eventually tried by the Sessions Court and hence the magistrate's court cannot grant her bail.
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The police also contended that her bail was rejected at the previous instance by the same court on the ground that the offence was serious and the investigation was still going on.
The court is likely to give its order on Friday.
In the wee hours of June 10, an Audi car driven by Gadkar rammed a taxi, killing two persons, including the taxi driver, on the Eastern Freeway here.