Officials of the flying squad team and Income Tax department conducted a raid on the premises of a bank official in Katpadi on Thursday.
Sources with the EC said that the official M. Dayanidhi, also known as Thyagarajan, was working in a nationalised bank.
The raid started around noon with the Viruthampet police providing the necessary support to the officials. The raid gains significance on the wake of seizure of ₹32 lakh from a vehicle in Katpadi on Wednesday night.
The occupants claimed the amount was meant for filling the Automated Teller Machine, but they did not not possess any supportive documents.
Meanwhile, officials also conducted a similar raid in the chest of a bank in Katpadi, which continued late in the evening.
However, the exact details on the outcome of the raid was not immediately known.