Video of the caretaker assaulting the 10-month-old baby girl had gone viral on social media.
Justice Sadhana Jadhav, who rejected Nikam's application for pre-arrest bail, remarked that she did not deserve any relief.
Nikam had earlier moved the sessions court for anticipatory bail after police registered a case of attempt to murder against her. The lower court however gave her no relief.
The HC also rapped the Maharashtra government for not taking any steps to ensure that such incidents do not occur in future.
On November 25, police had questioned Nikam, owner of Kharghar-based Purva Playschool and Nursery, and caretaker Afsana Shaikh. Shaikh was arrested immediately.
The video on social media showed Shaikh beating up the baby.