Sharif, who is serving seven-year imprisonment in the Al-Azizia Steel Mills corruption case, was shifted to hospital on February 15 from Kot Lakhpat jail for cardiac treatment.
The National Accountability Bureau requested the court to reject the application for Nawaz Sharif's bail.
The bail petition was seeking for the suspension of the seven-year sentence handed to former prime minister Nawaz Sharif in the Al-Azizia reference. "Bail can not be granted in light of the Supreme Court's previous decisions".
'We have always respected court decisions, Abbasi, himself a former prime minister, said.
"We were hopeful that Nawaz's bail will be accepted for his medical treatment", he added. The JIT also held that Nawaz Sharif received 97 per cent profit as "gifts" from Hill Metals Establishment, another company established by Hussain Nawaz Sharif in 2005, in Saudi Arabia. "We will take all necessary legal recourse".
'We don't agree with the decision but will accept it out of respect for the courts. we will file an appeal in the Supreme Court, said Khawaja Asif, a former foreign minister and close aide of Sharif.
An anti-graft court had jailed him for seven years on corruption charges related to owning steel mills overseas in December. The petition was filed on February 20, and they reserved the verdict after hearing the appeal.
The former premier is now admitted in Jinnah Hospital Lahore after being transferred from Kot Lakhpat jail on February 15 owing to his illness. Sharif is now in Jinnah hospital after doctors recommended his medical treatment since past week.