The bench of Justice Shahidul Karim and Justice Md Riaz Uddin Khan turned down the petition, said ACC lawyer Khurshid Alam.
Shah Manjurul Haque stood for the petitioner.
Siddiqui filed the petition with the High Court after a Bogura court rejected his bail plea on June 20.
According to case statement, he sold a 2.38-acre plot of Bangladesh Jute Mills Corporation at Dariapur village in Adamdighi upazila to Begum Jahanara without any tender for just Tk 23 lakh.
The land’s market value is said to have been Tk 64 lakh at that time.
A case was filed with Adamdighi Police Station accusing Siddiqui and Jahanara on October 17, 2017 for incurring a loss of Tk 40.7 lakh to the state.