Here are some key observations by the judge:
Pronouncing his verdict in a packed courtroom, Justice Chandrashekhara said there were no grounds for bail to Ms Jayalalithaa, even though the prosecution said it had no objections to conditional bail.
The judge observed that corruption amounts to violation of human rights and leads to economic imbalance.
Ms Jayalalithaa's lawyer Ram Jethmalani argued that the Supreme Court had granted relief to former Bihar chief minister Lalu Prasad Yadav in the fodder scam. The judge, however, noted that he had spent 10 months in jail before being granted bail.
Judge Chandrashekhara said the Supreme Court had sent out a clear message that corruption cases should be put on fast track.
Referring to an earlier case of 2012, the judge also quoted the top court as saying that corruption is against society.
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