New Delhi, Jan 2 (IANS): A court here on Monday sent to judicial custody, till January 16, a lawyer and a Kotak Mahindra bank manager arrested on charge of converting Rs 60 crore in demonetised currency into new notes.

Additional Sessions Judge Raj Kumar Tripathi remanded lawyer Rohit Tandon and Kotak Mahindra Bank Manager Ashish Kumar to 14 days judicial custody after Enforcement Directorate did not seek custody for further interrogation.

Meanwhile Tandon has moved his bail application.

The court has sought reply from ED and listed the matter for further hearing on January 4.

The Enforcement Directorate on December 28 arrested Tandon on charge of converting Rs 60 crore in demonetised currency into new notes in connivance with the bank manager.

Tandon was arrested after grilling by ED officials for almost a week and booked under the Prevention of Money Laundering Act. Kumar was arrested on Wednesday.

ED sources said Tandon gave Rs 1.5 crore as commission to Ashish Kumar, posted at Kotak Mahindra Bank's Connaught Place branch, for converting his Rs 34.93 crore demonetised high-value currency into new notes.

Cash of Rs 13.65 crore, including Rs 2.6 crore in new notes, was seized from Tandon's office in Greater Kailash-I area of south Delhi during a raid by Delhi Police on December 10.

Tandon's T&T law firm and residence, before this operation, were separately searched by the Income Tax Department, which said he had declared undisclosed income of over Rs 125 crore.