The Bombay High Court has refused bail to Ajay Ajit Kerkar, promoter of bankrupt travel firm Cox and Kings, in connection with a money laundering case being probed by the Enforcement Directorate (ED).

A single bench of Justice Prithviraj Chavan in its order of January 10 rejected Kerkar's bail plea noting that the right to be released on bail after undergoing detention for a period exceeding half of the minimum period of imprisonment was not an absolute right.