Three separate teams, including intelligence and IT officials, arrived at Narasaraopet on Monday and took Subba Rao into custody for questioning.
Raids were conducted at Sribas' native place Saroi under Dharmasala, Dankari and Jaraka in Jajpur district besides Baramunda in Bhubaneswar, Puri, Hyderabad, New Delhi and Kolkata.
The IT raids are allegedly linked to the Brihanmumbai Municipal Corporation — the richest civic body in the country. Aaditya said these raids are happening because BMC elections are due.
The officials looked at financial documents, account books and company records as part of a tax evasion investigation against the company. Some records have been seized too.
Cash was stashed in an underground tank; hair dryers and clothes iron were used by IT dept sleuths to dry up the cash.
They said that offices and residential locations of the ACE group in Noida and Greater Noida in Uttar Pradesh, apart from a few other places like Baghpat, are being covered.
The SP claimed through a post on its official Twitter handle that the premises of its MLC Pushpraj alias Pampi Jain in Kannauj have been raided.
The officials of the Directorate General of GST Intelligence (DGGI) had on Sunday raided perfume and Paan Masala trader Piyush Jain's house and factory in Kanpur and Kannauj.
The teams of CBIC are currently at various premises of businessman Piyush Jain counting cash. No arrest has been made yet.
The Income Tax department conducted raids on the premises of persons mainly associated with the Samajwadi Party in different cities across Uttar Pradesh on Saturday.
The SP chief said that the IT raids point out the BJP's fear of defeat has been increasing.
CBDT said the unidentified group issued promissory notes equivalent to the on-money (cash) component to the customers and these promissory notes are destroyed after registration of the flat.
The searches were carried out at twenty-four premises in Kolkata, Assam, Meghalaya and Delhi on November 16.
According to the Ministry of Finance, during the searches, the tax officials found incriminating evidence that revealed that the goup had been engaged in obtaining accommodation entries.
The searches were conducted at 34 locations in Kanchipuram, Vellore and Chennai on October 5.