The party said that it hopes and expects that the apex court would review this judgment and that Parliament will also step in to repeal this archaic law.
It said the Supreme Court's judgment criminalises the personal behaviour of consenting adults and places all those who are born with or choose a different sexual orientation at the mercy of the police.
"This not only violates the human rights of such individuals, but goes against the liberal values of our Constitution, and the spirit of our times," the party said in a statement.
In a big blow to the LGBT community, the Supreme Court had yesterday set aside a landmark Delhi High Court judgement decriminalising gay sex and threw the ball in Parliament's court for amending law.