"We have to see the other side," said the bench, also comprising Justice S K Kaul, when senior advocate Mukul Rohatgi sought the stay.
The police firing had taken place in Tuticorin district during the anti-Sterlite protests claiming 13 lives on May 22 and 23.
The high court ordered that FIRs be registered against top police officials and officials of the civil administration.
The High Court on May 14 had transferred to the CBI the probe into the police firing and directed the agency to conclude the investigation in four months.
It had also quashed an order detaining six members of the 'Makkal Adhikaram,' a Left outfit accused of inciting violence in the district.
On May 22, after the Tuticorin district collectorate was picketed to seek the closure of copper plant of Sterlite, a unit of the Vedanata group over pollution concerns, large-scale violence had followed.
The consequent police firing 13 people were killed on May 22 and 23.
The High Court had on July 9 directed the state government to furnish a video in its possession, allegedly showing some anti-Sterlite protesters with petrol bombs during the stir, as it observed that a CBI probe into the violent incidents will instill confidence in the minds of the people.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)