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The NTA conducts the all India pre-medical entrance test.
The cancellation comes following inputs that the integrity of the examination may have been compromised.
The bench was hearing two separate petitions raising grievances, including on grace marks given to students in the examination held on May 5.
SC asks NTA to file its reply within two weeks.
The Centre further stated these candidates will be informed of their actual scores (without the grace marks) and be given the option to appear for a re-test.
The results were declared on June 4.
Congress leader says INDIA bloc will not let the youths' voice to be suppressed.
This decision follows allegations of mark inflation, which led to 67 candidates sharing the top rank in the exam.
Several aspirants of NEET have alleged inflation of marks which led to a record 67 candidates bagging the top rank, including six from the same exam centre.
The admissions to the seats remaining after allotting the 15-per cent all-India quota in 13 programmes in Kerala take place based on a rank list prepared by the Commissioner for Entrance Examinations (CEE)-Kerala from the NEET-UG ranks.
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