Gaikwad's bail application came up before Justice C V Bhadang who adjourned the matter to July 11 with the mutual consent of the accused and the prosecution.
Gaikwad, a member of the right wing group 'Sanatan Sanstha', contended in the petition that there was no evidence to connect him with Pansare's murder.
He sought bail on the ground that his liberty was being encroached upon in the absence of evidence.
A sessions court in Kolhapur has twice earlier rejected Gaikwad's bail plea.
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Aggrieved, he moved the High Court with a fresh bail plea.
Gaikwad is the only suspect arrested by Kolhapur police in connection with this case. He was arrested on September 16 last year from his residence in Sangli.
Pansare and his wife were shot by unidentified persons in Kolhapur during their morning walk on February 16 last year. While his wife survived, the CPI leader died in a Mumbai hospital four days later.