The High Court today refused to grant bail to Regent Group chairman Mohammad Shahed in a case filed on charge of laundering Tk 11.2 crore.

The HC bench of Justice M Enayetur Rahim and Justice Sardar Md Rashed Jahangir rejected the bail petition filed by Shahed, now in jail.

The bench passed the rejection order considering that the petition was not submitted properly before it.

Anti-Corruption Commission lawyer Khurshid Alam Khan told The Daily Star that the HC did not want to grant the bail petition as Masud Parvez, a co-accused of the case, made confessional statement -- to the magistrate concerned – involving Shahed.

The Criminal Investigation Department of the police filed the case with Uttara West Police Station on August 25 last year against Shahed and few others on charge of laundering Tk 11.2 crore.