Among the properties raided are Gahlot's residence, and companies like Brisk Infrastructure and Developers Ltd and Corporate International Financial Services Ltd, which belong to the AAP leader.
The searches are being carried out in Delhi and Gurugram.
"Friendship with Nirav Modi, Mallya and raid on us?," Delhi Chief Minister and AAP convenor Arvind Kejriwal questioned in a tweet, indicating the raids at the Delhi minister's properties are a political vendetta.
Brisk Infrastructure and Developers Ltd is engaged in construction and real estate development. On the other hand, Corporate International Financial Services Limited is stated to be Non-Banking Financial Company (NBFC).
Further details are awaited.
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