Justice M L Mehta issued notice to the Delhi Police seeking its reply by November 14.Saxena is lodged in Tihar Jail following his arrest on July 17 in the case.
Saxena is accused of delivering Rs one crore to then BJP MPs and co-accused Ashok Argal, Faggan Singh Kulaste and Mahabir Singh Bhagora under a conspiracy to buy their votes for the Congress-led UPA-I government in the July 2008 trust motion by it. Argal is still an MP.
Saxena has come to the high court challenging the trial court`s order denying him bail on September 28.
The trial court had denied him bail on the ground that he had "links" with co-accused Amar Singh and had played the role of a facilitator in the case.
The trial court had earlier also denied bail to four other co-accused Kulaste, Bhagora besides senior BJP leader L K Advani`s former aide Sudheendra Kulkarni and a small time political activist Suhail Hindustani.
The four have already approached the high court for bail challenging the trial court order and Justice Mehta has already issued notice to the police on their bail pleas for the same day, November 14.
Amar Singh has already been granted bail by the high court on health grounds.