West Bengal Transport Minister and Saradha scam accused Madan Mitra was on Wednesday denied bail by a local court in West Bengal.
Mitra had been remanded for judicial custody earlier in January this year.
A petition had also been filed in the Calcutta High Court seeking Mitra's removal as the Transport Minister.
The Central Bureau of Investigation (CBI) had arrested Mitra on December 12 last year in connection with the scam.