A city court on Monday turned down the bail plea of West Bengal Transport Minister Madan Mitra, arrested in the multi-crore rupee Saradha chit fund scam.
City sessions judge Kallol Das rejected Mitra's bail plea after hearing both the prosecution and the defence.
Mitra's lawyers sought the minister's bail citing medical reasons.
Defence counsel Milon Mukherjee submitted documents to support the contention that Mitra was ailing.
Mukherjee argued that the Central Bureau of Investigation (CBI) was "shoddy" in its probe on the issue and there was no certainty when the trial would start.
CBI counsel K. Raghava Charyulu opposed the bail plea and submitted that probe into the larger conspiracy was on.
Bailing out Mitra would hamper the probe, he said, seeking the court direct doctors from New Delhi's All India Institute of Medical Sciences to examine the minister.
Arrested December 12 on charges of criminal conspiracy, cheating and deriving undue financial benefits in connection with the multi-crore rupee Saradha Group chit fund scam, Mitra is now under judicial custody.
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