It also stayed an “open-dated non-bailable arrest warrant” against him.
Justice R Mantha directed Parekh, who is at present living abroad, to appear before the investigating officer in the case by November 7 at the CBI office in the CGO complex here.
He stayed the non-bailable arrest warrant against Parekh, issued by a city court, till November 22.
Justice Mantha directed that no coercive action be taken against him till November 22, when the matter will be heard again by the high court.
Parekh has been asked not to leave the country without the permission of the CBI or the high court.
He had moved the high court challenging the warrant issued by the lower court, and also prayed for quashing of FIRs against him.
Opposing his prayer, CBI lawyer Anirban Mitra said Parekh is an accused in the alleged bank fraud of over Rs 2,600 crore from a consortium of 25 banks, of which 20 are nationalised lenders.
The CBI was entrusted with the probe into the case following FIRs by the banks, which accused the company owned by Parekh and his two brothers of taking loans using forged and fabricated documents, he said.
Parekh is not in the country and did not appear before the trial court despite summons, following which it issued the “open-dated non-bailable warrant” against him, Mitra said.