Patnaik had asked the vigilance department after a private news channel aired a sting operation purportedly showing four BJD MLAs making deal with an undercover person posing as an industrialist.
Vigilance Director RP Sharma said five teams have been formed initially to probe the incident with each team given specific job.
"We have started the probe. If necessary, more teams will be formed," he said adding that the department will chalk out a procedure to reveal truth in the allegation.
Persons resembling the four BJD law makers were allegedly demanding money from industries for helping them to set up industries in their respective constituencies in the unauthenticated clips of a purported sting operation aired in media.
Meanwhile, in a joint statement, four BJD MLAs - Susant Kumar Behera, Seemarani Nayak, Bijay Kumar Nayak and Anam Nayak, said that the vigilance probe would bring truth to the fore.