India, March 23 -- The Telangana High Court has dismissed the writ petition filed by Fino Payments Bank's MD and CEO Rishi Gupta seeking bail, weeks after his arrest in an alleged tax evasion case.  A bench comprising Telangana HC chief justice Aparesh Kumar Singh and Justice GM Mohiuddin dismissed Gupta's writ petition today, which sought the court to declare that the arrest by the authorities as unlawful. 

Gupta's prayer essentially sought to have his arrest and custody declared illegal and to secure his release on bail, stating: "declare the arrest of the Petitioner. to be arbitrary, illegal, highhanded and violative of Articles 14, 19, 21 and 22 of the Constitution of India."

Fino Payments Bank told Inc42 that it has taken...