It said that it will "apply its own mind" and implement the policy according to the needs of the national capital and sought two months' time to formulate its own norms.
The submission was made before Justice Manmohan who then listed the matter for hearing on April 17.
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It asked for a report after Uber's lawyers, senior advocates Rajiv Nayar and Dayan Krishnan, contended that a legislation based on the policy is likely to be taken up by Parliament in its Budget Session.
During the brief hearing, senior standing counsel Rahul Mehra told the court that the Delhi government is formulating its own norms and all stakeholders can send their representations.
He said each state will have to implement the policy by modifying it according to its needs.
"We cannot accept it the way it is. We also have to apply our mind," he said.
Earlier, the court had said that such a policy should have minimum interference by the government and market forces should be allowed to operate, as regulation could even "bring in corruption" in this emerging sector.
The court had said that any regulatory mechanism that is set up, ought to remain in the periphery.
It was hearing a batch of petitions filed by radio taxi operators against the Delhi government for allowing Ola and Uber to operate without any licence, while the two companies filed contempt pleas against each other for alleged violation of court orders.
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