Judge R K Choudhary of the court of Prevention of Money Laundering Act sanctioned the remand after the ED moved a petition informing the court that it would interrogate him.
Bastawade, who was brought to India from Indonesian capital Jakarta this week, was yesterday produced before the court by the ED and sent to 14 days judicial remand with February 11 being set for the next hearing.
He is the seventh accused arrested after Koda, Binod Sinha, Vikas Sinha, Manoj Punamia, Arvind Vyas and Vijay Joshi in connection with the money laundering and illegal investments case slapped against them.
Koda, who is in judicial custody now, was arrested on November 30, 2009 after the Income Tax department and the Enforcement Directorate claimed to have unearthed a Rs 25000 crore scam in money laundering and illegal investment following country-wide raids on 70 premises on October 31 the same year.
ED sources said the amount of the scam, which had allegedly taken place during Koda's regime between 2006 and 2008, had gone up to Rs 3,400 crore in course of investigations and the amount excluded Bastawade's assets.