A division bench comprising justices R D Khare and R N Kakkar passed the order on the petition of Asma, who had sought a stay on her arrest and quashing of the FIR lodged against her.
She alleged that she was falsely implicated in the case.
Asma has been accused of barging inside the premises of the school, along with some of her supporters, carrying a whip in hand and assaulting children and teachers inside besides vandalising property.