Cuttack: State High Court on Wednesday rejected the bail plea of Rose Valley chit fund scam accused and TMC MP Tapas Pal.
Earlier, hearing on his bail plea was reserved.
Prior to this, the Special CJM (CBI) Court has already rejected his bail petition for the second time.
Tapas is under judicial custody after being arrested by the CBI in the multi-crore ponzi scam.
He has been seeking bail on health ground. The Special CJM (CBI) Court had earlier rejected his plea following the argument of CBI counsel that the investigating agency could not interrogate Pal as the MP kept sleeping most of the time complaining about his health. Therefore, the agency had been unable to extract facts from him, the CBI counsel had contended.
Notably, Pal was arrested by the central probe agency from Kolkata on December 30 last year and was produced in court in Bhubaneswar the following day.
The parliamentarian, while working as a director of Rose Valley Group in 2010, had allegedly appointed his wife, daughter and niece in different positions.
As per the chargesheet filed by the CBI in January 2016. Rose Valley has allegedly taken Rs 450 crore from its poor investors in Odisha.