New Delhi, July 26 -- Delhi's Rouse Avenue Court has rejected the bail plea of businessman Harsatinder Pal Singh Hayer, accused in a money laundering case linked with the alleged cheating of investors to the tune of Rs 48,000 crore.

Hayer, the son-in-law of the late Nirmal Singh Bhangu, is one of the accused in the case linked to PACL. He is on bail granted by the Delhi High Court in a related case filed by the Central Bureau of Investigation (CBI).

Special Judge (CBI) Jagdish Kumar rejected Hayer's bail plea in the money laundering case in view of the nature of allegations levelled against him. The court observed that the allegations against Hayer are that he has committed a white-collar economic offence involving the misappropriation ...