Setalvad has been protected from arrest till March 31 following a directive of the Supreme Court.
Additional Sessions Judge S.M. Vora, who rejected the anticipatory bail, observed that there was adequate evidence against Setalvad and others, and upheld the state's arguments that the funds collected for the riot victims of Gulberg Society were in fact used by the accused persons for personal purposes like payment of credit card bills.
Setalvad has been protected from arrest till March 31
In one of its several affidavits, Ahmedabad's Detection of Crime Branch (DCB) charged Setalvad with paying her credit card as well as grocery and liquor bills, among other things, from the donations meant to convert the riot-ravaged Gulberg Society into a "museum of resistance."
However, Teesta has refuted all the allegations against her.
(WIth agency inputs)