Official sources in Delhi said the searches were spread across Mumbai, Delhi, Chennai, and Gurugram.
The raids are also taking place at the Nungambakkam residence of P Chidambaram in Chennai, a senior police official said in Chennai.
Unconfirmed reports said the raids were also on at Karaikudi, the hometown of Chidambaram.
The agency had recently registered a case regarding Foreign Investment Promotion Board (FIPB) clearance given to a company in which it is alleged that favours were given when P Chidambaram was the finance minister.
"I mean...(this is) absolute nonsense," Chidambaram told PTI adding he was not in Chennai.
Chidambaram, a staunch critic of the Narendra Modi-led BJP regime, has said in the past that his voice against the Centre cannot be silenced by launching cases against him or his son Karti, also a Congress leader.
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