District and Sessions Judge, Khurda, D P Choudhury refused bail for Tripathy who represents Banki segment in the assembly.
Tripathy's bail petition on Novemver 13 was rejected by the Chief Judicial Magistrate's Court, the designated court to undertake trial of CBI cases.
The court had completed hearing on Tripathy's bail plea on December 2 and kept its verdict reserved till today.
Tripathy was arrested on September 30 for his alleged links with the AT Group and has been charged with having illegal monetary transactions with the AT Group and criminal conspiracy.
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