A Shelbyville man was arrested earlier this week on felony arrest warrants obtained as a result of an undercover narcotics investigation, according to a press release from Shelby County Sheriff Newton Johnson.  50-year old Allen James Holm of Blue Bird Lane in Shelbyville, was taken into custody Monday morning and charged with two counts of delivery of a controlled substance. Holm allegedly sold the illegal drugs hydrocodone and xanax in Shelbyville to an undercover operative working under the direction of the Sheriff’s Department.  Bonds were set at $1,500 each per Justice of the Peace, Pct. 1 Maxie Eaves.