A single-bench of Justice Girish Chandra Lal dismissed the petition filed by an advocate Om Prakash Aryal stating that the elections for the two top posts were not required as per the Article 36 (C) and 36 (I) of the interim constitution.
It said the articles clearly state that term of the President and Vice President expires only after the Constituent Assembly (CA) promulgated a new constitution.
The apex court, however, said the CA which also functions as the Parliament can decide independently on the issue since it falls under the Parliament's jurisdiction.
Nepal has been facing a constitutional crisis since the 10-year civil war ended in 2006. It deepened in 2012 when the first Constituent Assembly elected in 2008 was dissolved without promulgating the constitution.
The 30 political parties that won seats in the November 19 polls last year were expected to nominate lawmakers under a proportional representation system by December 10.
The composition of 601-member assembly was delayed after the Maoists alleged fraud in the polls and threatened to boycott the parliament. After weeks of negotiations, they last month agreed to participate in the parliament.