"We are not persuaded despite the lengthy and ambitious arguments advanced by the petitioner to issue notice and directive (to the poll panel)," a bench of justices Dipak Misra and N V Ramana said.
The bench said that there are other laws, including the Representation of Peoples Act, for taking action against the violators.
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The plea has also sought de-recognition of parties whose leaders made such speeches.
Dismissing the plea, the court said, "A PIL pertaining to the speeches delivered during election campaign, we are afraid, can't be put on a pedestal of a real PIL."
"In the name of a constitutional safeguard, entering into this kind of arena, in our convinced opinion, would not be within the constitutional parameters," it said and discussed the scope and history behind the advent of public interest litigation.
"Earlier the PIL was introduced as a tool by this court to take care of certain situations which relate to the poor and underprivileged and who did not have the access to the court," it said.
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