The six-member team led by CBI Superintendent of Police Subramanyeshwara Rao swooped down on the residence of Mahesh, according to the sources in the investigating agency.
Sources said some documents pertained to transport of iron ore and also details of a stock yard owned by Mahesh have been recovered during the search.
Under a directive of Supreme Court, CBI is probing illegal export of iron ore during 2009-10.
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