The court had on Monday heard the arguments on the anticipatory bail application of Jain, who is an Independent MLA from Panipat Rural and reserved the orders for today.
Jain's counsel said that they would now move the High Court.
Earlier, the legislator told the court that the MLA had already joined the investigations and was extending full co-operation and his custody was not required.
The CBI had recently filed a charge sheet against three persons, including Jain and another MLA, in connection with the death of Karam Singh, a village head in Karnal district in 2011.
The charge sheet was filed by the probe agency before the CBI court in Panchkula against Jain, and Zile Ram Sharma, former chief parliamentary secretary.
Rajinder, a personal assistant of Jain, has also been named in the charge sheet.
The complaint in the case was filed by the deceased's son Rajinder Singh.
Jain, an Independent MLA from Panipat Rural and Zile Ram, the Congress legislator from Assandh, had earlier refuted these allegations as baseless.
The charge sheet said that the former village head kept asking for money from the accused, but in vain. After that, he allegedly committed suicide on June 7, 2011.
Earlier, they had been booked for murder, but after investigations in the case, they were charged for abatement to suicide.
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