The case was registered by the Gurgaon police on direction of the magistrate following a complaint by Lt Gen (retd) Raj Kadiyan, Chairman of the society who had alleged that the officer bearers had allegedly siphoned off Rs 14 lakh from the accounts of the organisation, which was spearheading agitation for 'One Rank One Pension' (OROP).
The Additional District and Session Judge rejected the anticipatory bail application moved by Singh, Group Capt (retd) V K Gandhi and Wing Commander (retd) C K Sharma who had moved a plea before the court on February 11.
The three are office bearers in the IESM, formed in 2008. The society account is being maintained at a private bank.
Col (retd) Anil Koul said they were not happy with the judgement and would be approaching higher judiciary soon against the court order.
"We have complete faith in the judiciary and I am sure that designs of vested interests would be defeated. We will be approaching High Court for seeking legal remedy against today's order," he said.