The tribunal on Friday said the scheme was a "farce", and that it can not be implemented from next week without its permission.
However, experts had questioned the timing of the move, given that the air quality may improve by then, and pointed out that two earlier editions in 2016 had failed to alleviate pollution levels.
The tribunal directed that odd-even should be implemented "right away" without waiting for 48 hours, in case PM2.5 and PM10 go beyond 400 and 700 units respectively.
"The odd-even will go on".
However, the NGT refused to give any relaxation to two-wheelers from the rule.
Speaking to the media, Delhi's Transport Minister Kailash Gehlot said that the state government will file a review petition in the NGT urging it to exempt the 2-wheelers and women.
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The NGT also asked the Delhi Traffic Police to deploy its personnel at traffic lights, observing that nearly all the main roads in the city are witness to diesel vehicles which are older than 10 years and petrol vehicles which are older than 15 years.
Considering the poor visibility in Delhi, the United Airlines on Saturday temporarily suspended its flight from Newark to the national capital.
However, the NGT also hopes that the odd-even scheme would not affect the commuters.
The NGT also asked the Delhi government the rationale behind applying the odd-even scheme, and why it wasn't applied when the air quality situation was worse. I do not think that the odd-even plan is necessary.
He said the government would struggle to cope with the extra pressure on public transport while the biggest issue was "the safety and security of women".
So at the moment we are calling it off.
The decision came in the wake of degrading air quality in the national capital, which entered into the "Red Zone". "This is not feasible to arrange such a large number of buses at this stage", the statement added. The CPCB also told the green court that rain might take place in the next two days in the region.