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The demand in the petition is for immediate permission to take a loan of Rs 24,000 crore. However, this was denied citing the petition.
The state requested the centre to rectify an error in the calculation of the borrowing space.
The staff has threatened to take out a “non-cooperation protest” from March 10.
The only group of employees who received their full salary were the Secretariat staff.
The court emphasized the importance of mutual trust between the Center and Kerala, while also indicating that Kerala should not withdraw its petition in the matter.
The protest would be led by the Secretariat Action Council, an umbrella body of service organisations with allegiance to opposition parties.
He said such fund transfers being reported as financial assistance is "misleading".
Kerala urgently demanded Rs 13,609 crore from the Centre on four grounds.
The company declared the resolutions passed by the shareholders as invalid.
State and Central officials will meet again on Friday to thrash out details regarding accounts.