A three-judge bench headed by Chief Justice Iftikhar Chaudhry issued the notice to Malik for violating its orders in connection with the Pakistan Steel Mills (PSM) case.
The bench directed Malik to respond to the notice in two weeks.
The court issued the contempt notice while announcing its verdict in a suo motu case regarding alleged irregularities in PSM involving Rs 26.5 billion.
The bench expressed its complete dissatisfaction and lack of trust in the probe conducted by the Federal Investigation Agency and said the case should be transferred to the National Accountability Bureau, Pakistan's main anti-corruption watchdog.
The apex court directed the NAB chief to personally supervise the investigation and conclude the probe in three months.
The NAB chief was asked to submit a compliance report every 15 days.
The court also ordered the cancellation of bail granted to accused in the case.
