"Bail application dismissed. Detailed order to follow later in the day," the court said. Mr Chandrashekar had sought bail on the ground that his custody was not required as the investigation against him was complete.
The prosecutor had opposed the bail plea saying investigation was still going on. He has been denied bail twice by a sessions court and then by the Delhi High Court. The court has already fixed August 3 to consider the issue of taking cognisance of the chargesheet filed in the case.
The police said the money allegedly recovered from Mr Chandrashekar was sent by Mr Dhinakaran through unaccounted channels with the help of other people. According to police, Rs 1.3 crore was allegedly recovered from him at the time of the raid at a hotel in Chanakyapuri in south Delhi.