The court extended Dhawan's judicial custody after he was presented before it via video conference.
Dhawan was arrested from his south Delhi residence under the Prevention of Money Laundering Act (PMLA) in a case involving fraud of over Rs 5,000 crore by the Sandesara Group on November 1.
The Enforcement Directorate alleged that he was involved in diverting the amount to purchase properties and other shell companies.
According to ED officials, Dhawan allegedly aided bank loan frauds related to Vadodara-based Sterling Biotech company.
The ED had registered a case of money laundering following a case registered by the Central Bureau of Investigation (CBI) against Sterling Biotech, its directors Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi and several others in connection with the bank fraud case.
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