The sessions and district court on Monday rejected the bail plea of Shivraj Puri, the main accused in the multi-crore Citibank fraud case.
The additional district and sessions judge Vimal Kumar rejected Puri's latest bail application, which was filed after a local court on February 6 rejected a similar petition.
Puri, a former relationship manager of Citibank, has been in judicial custody in Bhodsi Jail after being arrested in December 2010.
Shivraj along with his father Raghuraj Puri has been accused of siphoning off more than R300 crore from the bank accounts of many investors by luring them in a non-existent high-return scheme.
The scam involved transfer of money from the bank accounts of Puri and his relatives to five brokerage companies — Normans Martin, Religare, Okaya Power Limited, Bonanza, BG and India Infoline.
Citibank lawyer Harish Malhotra countered that the prime accused in the 2G scam, A Raja, is yet to get bail. He also argued that unlike in 2G case, the Punjab and Haryana high court has set a deadline of six months for the trial to be completed by February 2012.