Justice H N Nagamohan Das reserved his verdict on the petition after completion of arguments by both sides.
Senior Counsel representing CBI, Ashok Bhan submitted that the petitioner was "interfering in day to day administration of justice and was also threatening some witnesses".
Reddy's counsel C V Nagesh contended there was no charge against his client as far as documents filed by CBI yesterday were concerned and what has been pointed out was only "anticipation of threat".
"There is no actual threat but they are only anticipating that the respondent might threaten the witnesses," he said.
Nagesh also submitted that further investigation pending is only against then Deputy Conservator of Forest, Bellary district, S Muthaiah and then Director Mines and Geology S P Raju in connection with alleged theft of iron ore in Belekeri port and not on this matter.
On Nov 19, when the petition came up for hearing, Bhan had submitted that though the chargesheet had been filed in the case, further investigation was on.
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When the court sought to know what the link was between the main accused (Reddy) and various chargesheeted companies Bhan had said it was part of a business transaction involving Rs 3,000 crore where money has been stashed sway in Singapore, Malaysia and England.
He had said the Enforcement Directorate was also looking into it. "Thirteen companies are involved. All are employees of Reddy and his close aide Mehfuz Ali Khan, also an accused in the case, is a partner".