Chidambaram, a former Union Finance Minister, was asked by the Central Bureau of Investigation to appear before it on May 31 for questioning in the INX Media case.
A bench of Justices A K Sikri and Ashok Bhushan said it could pass any order regarding the promotion of the officer only after it went into the merits of the case.
In recent months, many cases with crucial political ramifications have been referred to Justice Arun Mishra, the tenth senior-most judge at the Supreme Court.
The apex court said the Centre should apprise it about the stage of the pending investigation in the case and what needed to be done.
The senior Congress leader and the former finance minister also accused the probe agency of spreading misinformation.