The police in Raipur raided two places and confiscated 1.1 crore from a businessman and 50 lakhs during the checking of a vehicle.
The agencies concerned including the income tax department are probing the matter to find out if the money was to be used in the upcoming assembly elections.
The people who were detained with 50 lakh cash refused to speak up during the interrogation.
The police conduct regular searches at place deemed to be suspicious owing to the code of conduct, which has been in place in the state since the announcement of election dates by the Election Commission.
The police carried out search at a spa and recovered 1.1 crore from a businessman.
The agencies concerned quizzed three accused, who said they got cash by selling a land.