The recovery was made last night. The investigators are trying to look for clues to the Rajasthan Royals player's links to bookies and other details relating to the spot-fixing allegations, sources told PTI.
Sreesanth and his close friend Jiju, who was allegedly in touch with the bookies on behalf of the cricketer, were reported to have stayed in the hotel.
While Sreesanth was picked up from his friend's residence, Chavan and Chandila were arrested from the team hotel at Nariman Point.
The crime branch is likely to share information it gathers in connection with the scandal with Delhi police, which has sent investigators to four cities including Mumbai to trace the money trail in the case.