According to IT officials, the "survey" was being carried out on a directive from IT headquarters in Delhi in connection with alleged unaccounted shares of a blue chip company worth several crores.

"A verification of the books of accounts are being carried out in this regard," an IT official said.

Banthia had to step down following SEBI investigations into price rigging in the scrips of Videocon International, BPL and Sterlite Industries last year.