Justice Debabrata Dash reserved his order after hearing both the counsel of Gupta and the state vigilance department.
Appearing for Gupta, eminent criminal lawyer Ram Jethmalani argued since a charge sheet in the case had already been filed, the question of bail to the arrested person had to be considered.
Jethmalani further argued that when the original lessee of the concerned mines had already been released on bail, why the same relief would not be granted to his client who had only power of attorney on the mines.
The High Court, however, allowed the vigilance counsel to file a written note of his argument.
Corruption cases under the Prevention of Corruption Act were registered against Gupta and some directors of his steel and power company for illegal mining of iron ore in Ulibur mines of Keonjhar district.
Gupta was arrested under several sections of IPC, MMDR Act and Forest Conservation Act.