The bench of Justice Jahangir Hossain and Justice Md Riaz Uddin Khan passed the order after hearing a writ petition.
Advocate Ashraful Alam Nobel stood for the petitioner while Deputy Attorney General Harun or Rashid represented the state.
Advocate Alam said Rabeya claims to be 104-years-old.
According to case statement, police arrested her with firearms and bullets from a house at Garden Road in Tejgaon area on June 2, 2002. A case was filed on that day.
Two people identified as Julhas and Masud were also made accused in the case.
She was produced before the court the next day and was sent to jail. She got out on bail about six months later.
Police filed charge sheet in the case on March 24, 2003.
On April 25 this year, a report was run by a local newspaper on the elderly woman’s ordeal.
After seeing the report, advocate Ashraful filed a writ petition seeking acquittal of Rabeya.