Rakesh (36), who was arrested yesterday, was produced before additional chief metropolitan magistrate D B Nikam, who remanded him to custody.
Rakesh, a resident of Kandivali in north-west Mumbai, had disappeared with his family soon after Shobhan Mehta was arrested on betting charges. He is suspected to be a bookieand accomplice of Shoban Mehta, the court was told.
Shobhan Mehta was arrested by the Mumbai crime branch in May after police busted an illegal telephone exchange in Kalbadevi area of south Mumbai.
The telephone exchange was allegedly used to connect with bookies from Dubai and Pakistan to accept betting on cricket matches, police said.