Kothari, who was yesterday arrested from Mumbai domestic airport for allegedly duping investors in Madhya Pradesh of their money in 2010, was today produced in the court of Judicial Magistrate Brijesh Goyal, said SP Amrinder Singh.
The Madhya Pradesh police had announced a cash reward of Rs 25,000 for information leading to Kothari's arrest.
Vijay Nagar police had lodged a case against Kothari under the Madhya Pradesh Investment Protection Act 2010 and relevant sections of IPC, including section 420 (cheating and dishonestly inducing delivery of property) and 406 (punishment for criminal breach of trust).
According to police, Kothari's wife Anju, who is also an accused in the case, is absconding.
"There were reports that Kothari had committed fraud and cheating in other states also, including Himachal Pradesh, Uttarakhand and Maharashtra," Singh had said.