Justice A J Desai, while granting further stay, adjourned the hearing and posted the matter for July 9 as the state government sought time for further representation in the anticipatory bail plea of Setalwad and others.
Setalwad, Anand, Tanvir, Gulbarg Society's secretary Feroz Gulzar and chairman Salim Sandhi had earlier filed an anticipatory bail plea before the high court in the alleged fund embezzlement case of Rs 1.51 crore.
In an affidavit before the court, Setalvad and others alleged that the investigating officer has not put any documentary evidence in any affidavits since February to substantiate their claim of alleged usurping of funds.
The five persons, sought bail from the high court as the city sessions court here had rejected their plea on March 25.
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The sessions court judge had observed that there was prima facie documentary evidence against the accused, which needs a thorough probe.
The issue had surfaced when 12 residents of Gulbarg society demanded Rs 1.51 crore from Setalvad last year alleging that money collected in their name was never distributed.
Setalvad and Anand have also sought quashing of an FIR registered against them before the Bombay High Court on which the order was kept reserved on March 26.
On 28 February, 2002, following the Sabarmati train burning incident, 68 people including former MP Ehsan Jafri were killed by a mob at Gulbarg Society here during the riots.