Andheri Metropolitan court issued the warrant against Dutt in a complaint filed by producer Shakil Noorani, who, among other things, alleged that the actor had failed to complete his movie "Jaan Ki Baazi" in 2002 despite taking the signing amount of Rs.5 million.
Noorani, who also alleged threats by mafia at Dutt's behest, sought a refund of the signing amount and the alleged losses of around Rs.2 crore suffered in the project.
Dutt appeared before the court Monday afternoon and sought bail, which was granted.
The court issued the warrant after Dutt failed to appear before it on two previous occasions.
Prior to filing the court case, Noorani had moved the Indian Motion Pictures Producers Association (IMPPA), which had directed Dutt to pay up Rs.2 crore of losses incurred on the incomplete movie.
Later, Noorani moved the Bombay High Court to get the IMPPA order executed and the high court ordered attachment of two of Dutt's properties in Mumbai.
Following this, Noorani contended that he started getting threat calls which were traced to Dubai and Karachi, but Dutt's lawyers rubbished the allegations.
Last month, the Supreme Court ordered Dutt to return to jail to serve the remaining sentence of three-and-half years in the 1993 Mumbai blasts case.
Following a plea by Dutt, the apex court last week granted him four more weeks' time to surrender and complete his pending jail term. Dutt was earlier due to return to jail April 18.