The warrant was issued against Gupta on August 29 as he did not join the investigation despite receipt of summons and was trying to evade the probe on one ground or the other.
Dubai-based businessman Saxena was extradited to India on January 31 last year in connection with the Rs 3,600-crore scam case relating to the purchase of 12 VVIP helicopters from AgustaWestland.
Corruption in the matter of defence purchases has a debilitating impact on India's defence preparedness, they said, citing the Bofors scandal as a case in point.
Special judge Arvind Kumar, in a hearing held through video-conferencing, also granted regular bail to Sandeep Tyagi and others who marked their presence via video conferencing.
The period of suspension of the passport was extended by the order dated 01.05.2019 due to continuing investigations and the need for the petitioner to be present for interrogation.
According to sources, former defence secretary Shashi Kant Sharma, who later became Comptroller and Auditor General (CAG), has not been named as an accused.
Michel is among the three alleged middlemen being probed in the case by the ED and the Central Bureau of Investigation (CBI).
A two-judge bench headed by Justice Sanjay Kishan Kaul and also comprising Justice B R Gavai dismissed the bail application of Christian Michel.
Justice Mukta Gupta, while dismissing the bail, noted that the apprehension of the petitioner being infected by COVID-19 is unfounded as he is lodged in a separate cell.
Citing coronavirus risk, Agusta Westland scam accused Christian Michel seeks bail, approaches Delhi HC
Michel, in his plea moved through advocate Aljo K Joseph, said that his age and health condition place him at risk of contacting COVID-19 infection.
Earlier this week, INS Kiltan-Anti-Submarine Warfare stealth corvettes joined the eastern naval command but without any offensive capability which ca be useful to detect enemy submarines.