A division bench of Justices S C Dharmadhikari and S B Shukre was hearing a petition filed by brothers Pawan and Sanjay Jaipur seeking quashing of the FIR registered against them and a direction to the police to not take any coercive steps against them.
The duo had earlier filed anticipatory bail petitions in the High Court.
"Investigation is still on. At this stage we are not inclined to grant relief. If tomorrow the police does not find any material against you then they may file appropriate report," Justice Dharmadhikari observed.
Following this remark, the brothers sought to withdraw their petition which was allowed.
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Additional public prosecutor Aruna Kamat Pai argued that there was ample material against the two petitioners not only for betting and gambling but in the entire conspiracy.
According to the crime branch, the Jaipur brothers had procured SIM cards through forged documents which were later used to place bets through Vindoo Dara Singh. The police also alleged that the duo were in touch with Asad Rauf.