Panchkula, July 24 -- A local court on Wednesday dismissed the regular bail application of former municipal corporation (MC) senior accounts officer Vikas Kaushik, observing that he played a central role in the alleged multi-crore diversion of public funds and that his release at this stage could hamper the ongoing investigation.

The court of additional sessions judge rejected Kaushik's second regular bail plea filed under Section 483 of the Bharatiya Nagarik Suraksha Sanhita (BNSS). The first bail application had been withdrawn on May 1 this year.

The case pertains to alleged financial irregularities in the accounts of the Panchkula MC. According to the prosecution, discrepancies were found between the corporation's records and those m...