India, March 4 -- A Delhi court has dismissed the bail plea of an alleged kingpin in an over Rs 8.94 crore bank fraud case, saying the offence was grave and committed in a systematic manner through layered transactions.

Additional Sessions Judge Shunali Gupta rejected the bail application of accused Nitin Birmal Dongre in an FIR registered by the Economic Offences Wing (South) under Sections 318(4) (cheating of valuable security), 319(2)(cheating by personation), 316(4) (criminal breach of trust), 336(3)(forgery), 338 (forgery of valuable security), 340(2) (fraudulent use of forged documents), and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).

"Considering the seriousness and gravity of the offence, the systematic man...