Chandnani, co-producer of 'Gali Gali Chor Hai', was arrested at the Ahmedabad airport after he landed from Dubai last week, as there was a look-out notice against him.
According to police, betting money was allegedly sent through hawala channels and this was pumped in the production of the movie.
Chandnani's name figured during the interrogation of an arrested bookie, Sonu, who alleged that he used to receive orders from the producer.
Sonu and another bookie Ashish would directly call up Chandnani to get orders on accepting bets on IPL matches, police said.
