She was arrested yesterday after police raided a house in Palanpur and recovered Rs 1.25 crore in cash and 2.4 kg of gold.
According to police, Sadhvi might have duped several persons.
She was arrested in connection with a cheating complaint lodged against her by a local jeweller Pritesh Shah who alleged that she had taken Rs 5 crore from him by promising to give him gold at a cheaper rate.
"Apart from cheating, we have also booked her under various sections of Prohibition Act for possession of liquor," said Banaskantha SP Niraj Badgujar.
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Sadhvi was today remanded in three-day police custody by the Chief Judicial Magistrate of Palanpur district court P T Jadeja.
A senior officer said a complaint was lodged against Sadhvi at Vadgam police station in October 2008 in connection with Sanjaygiri's murder and that trial is underway in a local court.
"As per our information, she is the key accused in the murder case lodged against her in Vadgam taluka. She secured anticipatory bail in that case, which is still running in a local court," the officer said.
The complaint was lodged by a devotee identified as Jayanti Prajapati.
"As per the FIR, Sadhvi and some of her close aides killed her guru Sanjaygiri to take control of Math. After my complaint, she went underground for almost 2.5 years and then acquired anticipatory bail from court. She still lives in Math. The trial in that case is still on," said Prajapati.
Meanwhile, Rajendrasinh Barad, a co-accused in the murder case, alleged Sadhvi had duped many others in the past.