The XVII Metropolitan Magistrate Saidapet issued the warrant, directing the Juhu Police in Mumbai to arrest Nadiadwala and produce him before the court at 10.30 am on June 27.
Providing for his immediate release on bail the same day if he appears in court, the magistrate further said if Nadiadwala furnishes one surety before the court, he may be released.
The order was passed on a petition by city-based film financier Nirmal Kumar Maheswari who submitted that Nadiadwala had borrowed Rs 2 crore from him in 2011 for a Hindi film titled 'Power', which was never released.
They then entered into another agreement in September 2013 when Nadiadwala undertook to pay Rs 5.4 crore towards principal and interest to Maheswari before the release of his next film 'Welcome Back' starring John Abraham, he said.
But he failed to honour his committment then and also later in 2015 and cheque issued by the producer for Rs 2.5 crore was returned for want of sufficient funds, following which the petitioner moved the court.
The petitioner submitted that Nadiadwala had issued the cheques despite being aware of the fact that there was no sufficient funds in his account, thereby committing an offence punishable under Section 138 of Negotiable Instruments Act.