Mahant Dinendra Das said the "entire fault" lay with Gopal Rao Nagarkatte, whose role in overseeing temple operations and donation management is also under scrutiny.
The plea said a CBI-led multi-disciplinary SIT should investigate the alleged financial irregularities and other purported illegalities concerning the affairs and administration of the temple Trust.
Police teams, accompanied by local magistrates, carried out searches at the homes of the accused, including Lav Kush Mishra, Avinash Shukla and Ramashankar Yadav.
The Trust said that they are shocked, hurt and deeply saddened by the recent developments and are duty-bound to ensure that a fair inquiry is conducted and the faith of devotees is restored.
The party demanded the immediate arrest of those in the trust against whom serious allegations have been made and called for the trust to be dissolved, saying it had lost the "people's trust".