A division bench of Justices P V Hardas and A R Joshi directed the government to file an affidavit within three weeks stating if it proposes to initiate action against the police officers in accordance with law.
The bench was hearing a petition filed by former journalist Ketan Tirodkar seeking appropriate action to be taken against the erring cops.
"Tell us in an affidavit what action you are going to take? Action has to be in accordance with law," Justice Hardas said.
The government in an affidavit filed earlier said that senior police inspector Shrikant Pingle who arrested the two girls has been suspended and is facing departmental inquiry.
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Superintendent of Police, Thane (rural) Ravindra Shengaonkar has also been suspended for failing to stop the arrest, the affidavit had said.
Tirodkar has requested the court to hand over the probe to CID which should look into mobile phone communications and wireless records to ascertain who ordered the arrest.
Following public outcry, the government had said it would direct the police to withdraw the complaint.