They had submitted the bail application before the Colombo Chief Magistrate's Court.
The Hiru News court correspondent stated that Colombo Chief Magistrate Mohamed Mihail dismissed the applications today (27)
The group was arrested for the second time on 08 January in connection with the alleged financial fraud of Rs. 6.4 billion and was granted bail on 15 January.
Investigations have also revealed that the deposits in the Central Bank of Sri Lanka have been misused for personal enjoyment by the former Board of Directors while maintaining undisclosed accounts.