What is the basis for the arrest of Delfin Lee?

According to the PNP, his arrest was based on the 2nd Alias Writ of Warrant of Arrest issued by the Regional Trial Court (RTC) dated August of 2013;

Is the warrant of arrest used by the PNP to arrest Delfin Lee still a valid and subsisting warrant of arrest?

NO! Why? Because it has already been RECALLED, QUASHED, and LIFTED by the Court of Appeals in a Decision dated 7 November 2013.

Was the RECALL, QUASHAL and LIFTING of the warrant of arrest against Delfin Lee immediately executory?

YES! Because it is clearly provided in the Decision of the Court of Appeals that, and to quote:

“ x x x all government agencies tasked in the enforcement of the said warrant of arrest including but not limited to PNP, NBI, and the Bureau of Immigration are IMMEDIATELY ENJOINED from implementing the same.”

Published in GA News
The lawyer of Globe Asiatique founder Delfin Lee questioned the validity of the arrest warrant issued against his client, who was earlier arrested at a hotel in Manila over a P6.6-billion syndicated estafa case.
According to a report on GMA News TV's Unang Balita on Friday, Lee's legal counsel, lawyer Gilbert Repizo, insisted that the warrant against his client has been quashed.
"We are showing to the public na quashed ang warrant of arrest, though may different view sila. Nag-file ang gobyerno ng petition for review," he said.
Justice Secretary Leila de Lima on Friday, however, said the arrest warrant against Lee still stands. 
Of the arrest, de Lima said: "We welcome such development, especially so that our position that the arrest warrant against Delfin Lee still subsists in light of our pending petition before the Supreme Court questioning the CA's (Court of Appeals) decision quashing said warrant."
Repizo also stressed that Lee was only invited to the Philippine National Police's headquarters in Camp Crame for clarification regarding the status of his warrant. However he was made to undergo police booking, including taking his mugshot and fingerprints, the report said.
For his part, PNP's Criminal Investigation and Detection Group National Capital Region Chief Sr. Supt. Jigs Coronel said that while the CA quashed the warrant, the Home Development Mutual Fund, or the Pag-IBIG Fund, asked the Supreme Court to reverse that decision.
"I understand that Mr. Delfin Lee filed an appropriate action at the Court of Appeals 15th Special Division, which issued an order directing the RTC San Fernando, Pampanga to lift the warrant of arrest," he said. "However, Pag-IBIG Fund filed also a petition before the Supreme Court."
Police noted that the CA said in February that it recognizes the jurisdiction of the SC to decide on the matter of the warrant against Lee.
On Friday, police brought Lee to the San Fernando, Pampanga Regional Trial Court from Camp Crame, where he was earlier brought after his arrest Thursday evening, as they returned the businessman's arrest warrant.
The television report said the PNP decided to bring Lee to the San Fernando court since his camp had questioned the validity of his arrest.
Lee, who is accused of using fake documents to secure billions in pesos' worth of loans for "ghost" borrowers, had been at large for months, and was arrested by PNP Task Force Tugis around 7 p.m. outside Hyatt Hotel in Malate, Manila, Ivan Mayrina reported on GMA News' “State of the Nation.”
Lee had been among the government's "top" fugitives alongside former Army general Jovito Palparan, Dinagat Rep. Ruben Ecleo, and New People’s Army (NPA) leaders Benito Tiamzon and Jorge Madlos. —Amanda Fernandez/KG, GMA News March 7, 2014 11:24am