Lakdawala, who was arrested on Thursday night was later granted bail by a metropolitan magistrate’s court, police said, adding further investigations are on.
Sadhana had in August this year lodged a complaint with the suburban Santacruz police alleging Lakdawala of issuing death threats to her and forcing her to vacate her 3000 sq ft house in Santacruz.
The 68-year-old actress resides on the ground floor of a two-storey bungalow 'Sangeeta' with her niece and servants. Actress Baby Naaz lives on the first floor while the second floor has been occupied by Lakdawala's mother-in-law and relatives.
The bungalow is owned by singer Asha Bhosale. Sadhana in her complaint had claimed that Lakdawala wanted to redevelop the property for which he had been allegedly threatening her to vacate the house.