A bench headed by Justice DY Chandrachud and also comprising Justice Ajay Rastogi passed a verdict in the matter.
The apex court, in a 68-page judgment on the powers of Governor, said the floor test was necessary as the government had lost the majority.
"Have given a detailed judgment on Constitutional law and powers of Governor," Justice DY Chandrachud said.
The Supreme Court had, on March 19, ordered a floor test in the Madhya Pradesh Assembly to be held on Friday, following which Chief Minister Kamal Nath tendered his resignation. Bharatiya Janata Party leader Shivraj Singh Chouhan had later taken oath as the new state Chief Minister.
The development had come after 22 Congress MLAs tendered their resignation after Jyotiraditya Scindia, a prominent face of the Congress, resigned and joined the BJP.
The top court was hearing the petition, filed by former chief minister Shivraj Singh Chouhan and other BJP leaders, seeking a floor test in Madhya Pradesh Assembly claiming that the Congress-led government in the state has lost the majority.
( With inputs from ANI )