Naushad, who has claimed himself as a relative of former Industries Minister, Elamaram Kareem, had approached the court to dismiss the four criminal cases for alleged cheating and misappropriation.
Justice Harun Al Rashid turned down the plea after hearing the police.
According to police, Kareem had asked one Moideenkutty Haji, a complainant, to form a partnership with Naushad.
Following the assurance from Kareem, Haji decided to form a partnership of his seven acre property and crusher unit with the accused fixing a total asset value of rs 2.2 crore. It was also agreed that the partnership should be 50:50 basis.
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According to police, Naushad, who had claimed to be the personal staff and relative of Kareem, was involved in cheating cases in kozhikode district.
Investigations revealed that Naushad had accumulated assets worth several crores in short span of time after 2008.
The Kerala government had yesterday cancelled the permission granted to Karnataka based MSPL Ltd for mining of iron ore from Chakkittapara following allegations of irregularities.