A Kerala court on Friday denied bail to Managing director of Malayalam news channel Reporter TV who was arrested on Thursday morning in connection with a case involving the alleged possession of liquor in excess of the legally permissible levels under the Kerala Abkari Act.

Judicial First Class Magistrate Adheena Biju at Sulthan Bathery had remanded him to 14 days judicial custody late on Thursday night.

Augustine subsequently moved a bail plea which was dismissed by the Magistrate today.

Augustine was arrested a day after a Special Investigation Team (SIT) of Kerala Police searched his offices and residences.

The search was conducted as part of a probe into alleged financial fraud in connection with a failed football event with the Argentinian national team and footballer Lionel Messi. Augustine's Reporter Broadcasting Company was the main commercial sponsor of the event.

During a raid conducted at Augustine's family home in Wayanad, police uncovered roughly 67 litres of foreign liquor and wine, which exceeds the legally permissible limit for personal possession.

The Excise Department arrested Augustine in the early hours of Thursday.

Augustine has been booked under Sections 55(i), 55(a) and 58 of the Kerala Abkari Act, which penalise illegal import, export, transport, sale, and illicit possession of liquor or intoxicating drugs.

The prosecution today opposed his bail plea arguing that the investigation was still in early stages. They also raised concerns regarding the possibility of Augustine influencing witnesses if he is enlarged on bail at this stage.