The bench, headed by Chief Justice N V Ramana, said the private schools have not been able to "satisfy" it that not granting stay on the guidelines was harming them.
It ordered Delhi government to "forthwith" notify the new date for commencement of admission process, which was to begin on January 15.
"We therefore are of the view that the appellants have not been able to satisfy us of any irreparable loss and injury to them from the non-grant of the interim order sought.
Action Committee Unaided Recognized Private Schools and Forum for Promotion of Quality Education for All, the bodies which represented almost all recognised private schools in Delhi, had moved the larger bench after a single judge refused to stay the nursery admission guidelines, 2014-15.
The Lieutenant Governor, on December 18 and 27, had issued the guidelines by which various steps including weightage to neighbourhood kids and abolition of 20 per cent management quota were taken.
"We have also enquired from the senior counsels for the appellants (schools) to how deprivation for admission through the management quota causes loss to the schools. The schools are not entitled to charge any capitation fee or any excess amount from the students admitted through management quota also.
"Though management quota has been recognised in several judgments but in relation to admission to professional courses, where merit is a criteria. It is not so here. We are thus not satisfied of any loss lest irreparable loss to the appellants from being denied admission to 20 per cent of the seats through management quota also," it said.
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