The High Court extended the stay after the state government sought further time to file a reply and assured that it will not arrest Teesta and others till further hearing.
Following the state government's representation, Justice Anant S Dave granted the stay till April 23 and posted the hearing on the same day.
The High Court, while acting upon the anticipatory bail plea of Setalwad, Anand, Jafri, Gulbarg Society's secretary Feroz Gulzar and chairman Salim Sandhi, had earlier granted the stay till today.
The sessions court judge had observed that there was prima facie documentary evidence against the accused, which needed a thorough probe.
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The city crime branch had registered an FIR against Setalvad and others for allegedly usurping Rs 1.51 crore, collected by them in form of donations them for turning Gulbarg Society into a mausoleum.
Twelve residents of Gulbarg society had demanded Rs 1.51 crore from Setalvad last year alleging that the money collected in their name was never distributed.
On February 28, 2002, following the Godhra train carnage, 68 people including former MP Ehsan Zafri were killed by a mob at Gulbarg Society here during the riots.