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This comes a week after actress Ragini Dwivedi was granted bail by the Supreme Court.
The Central Crime Branch had filed an objection in the court against granting bail to Alva, Verena Khanna, Ravi Shankar, Rahul Thonse and Aditya Agarwal.
Alva is the brother-in-law of actor Vivek Oberoi and was absconding from September 2020 when his house was raided by the CCB.
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CCB officials have informed that their investigation into the high-profile drugs case has almost ended and they will be filing chargesheets soon.