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"The application is dismissed," Justice A K Pathak said while upholding a trial court's July 29 order dismissing Shivani Saxena's bail plea.
Saxena is a director of M/s UHY Saxena and M/s Matrix Holdings, both located in Dubai.
The Enforcement Directorate (ED) had arrested her on July 17 from Chennai under the provisions of the Prevention of Money Laundering Act (PMLA). She is currently in judicial custody.
Recently the ED had chargesheeted the woman and the companies under various sections of the PMLA.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)