The vacation bench of Justices Venugopal Gowda and Veerappa imposed a penalty of Rs 25,000 on the petitioner, advocate Raviraj Gururaj Kulkarni.
The petitioner submitted that since the recent High Court order acquitting Jayalalithaa in the disproportionate assets case had "flaws", there are possibilities of someone moving the Supreme Court challenging the judgment.
Hence, she should not be allowed to be sworn in as chief minister, he said.
The bench observed that the motive behind filing the petition appeared to be publicity purpose. It had also been filed with "an ulterior motive", the bench said, adding the petition was liable to be dismissed.
As the prosecuting state, Karnataka is yet to take a decision on filing an appeal in the Supreme Court challenging the high court verdict which cleared the decks for her return as chief minister.