District and Sessions court, Khurda, turned down Bandopadhaya's bail petition even as his lawyer pleaded that the TMC MP has been cooperating in the investigation.
Earlier, the CBI designated court had also rejected Bandopadhaya's bail petition.
The four-time TMC MP was arrested by the CBI on January 3 in Kolkata and brought to Odisha on remand.
Bandyopadhyay, the leader of Trinamool Congress parliamentary party, is presently lodged in Special Jail at Jharpada here.
Another TMC MP Tapas Pal has also been lodged in Jharpada jail for his alleged involvement in the Rose Valley chit fund scam amounting about Rs 17,000 crore.
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