Kasaragod: A local court in Kasaragod has refused to grant bail to Manjeswar MLA M.C Kamaruddin, arrested in an investment fraud case.
The Hosdurg magistrate court rejected the Muslim League leader's bail plea after the CPI(M)-led Kerala government informed the court that there were no grounds to quash the case against him.
The government told the court that Kamaruddin was the kingpin of the Fashion Gold Jewellery investment fraud in which a number of people lost their hard-earned money. An investigation is on to track where the money collected from the investors has been stashed.
Kamaruddin, the director of the jewellery, is culpable in the crime.
If the case is cancelled, the investigation could be sabotaged, the prosecution had told the court.