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A bench headed by Chief Justice Ranjan Gogoi said it will hear the plea on 28 March to decide whether the matter should be referred to a Constitution bench.
The Lokpal search committee has so far recommended three panels of names to the selection committee for appointment of chairperson, judicial and non-judicial members.
The Supreme Court said it was conscious of the gravity of the Ayodhya dispute and outcome of mediation.
A five-judge bench said that it would pass an order on 5 March whether to refer the matter to a court-appointed mediator.
In December, the apex court had dismissed various pleas saying that there was no occasion to really doubt the decision making process.
UPA govt had filed an appeal against the 2006 verdict of the Allahabad High Court holding that the varsity was not a minority institution.
At this stage, the Supreme Court is not inclined to pass any order, said CJI Ranjan Gogoi.
Top ministers of the Modi government besides former leaders and the other dignitaries were hosted by President Ramnath Kovind on Republic Day.
A two-judge bench led by Chief Justice Ranjan Gogoi, however, offered the petitioner an option to file a representation before the Reserve Bank of India.
The panel meeting will be attended by Chief Justice of India Ranjan Gogoi or his nominee and Congress leader Mallikarjun Kharge.
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