Chief Metropolitan Magistrate Sumit Dass denied the relief to Sanjiv Kumar, saying that he might hamper the ongoing probe which is at a crucial stage.
The CBI had alleged that around 125 kg of gold, seized by the customs department over three decades, had been pilfered from the vaults of the department.
In its order, the court noted the submissions of public prosecutor Shampa Tikait that if released on bail, the accused might flee from justice.
The agency had registered cases related to pilferage of 53 kg of gold but during the probe it found that around 125 kg of of the precious metal was allegedly missing.
Kumar was the custodian of the valuable material godown of Customs Department at the Delhi airport between 2002 and 2004.
He was posted as superintendent, central excise department, Kundali Division, Sonepat.
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