The observation was made by a bench headed by Justice P V Hardas, which was hearing a PIL filed by activist Ketan Tirodkar for handing over the probe to CBI alleging that the accused were being shielded by police.
The Mumbai Crime branch, which is probing the case, had earlier handed over the case diaries in a sealed cover to the court. Police had also produced the call data records of purported telephonic talks between Navi Mumbai Police Commissioner A K Sharma and absconding accused Anurag Garg.
The petitioner alleged that rival builder Suresh Bijlani and architect Anurag Garg, both accused in the case, were spotted by Loharia's son in the police station, where he had gone to lodge a complaint. Bijlani has since been arrested, while Garg is still absconding.
The probe was earlier being done by Navi Mumbai police, but later the case was transferred to Mumbai Crime Branch.