Kolkata, April 23 :The CBI on Thursday raided seven locations in West Bengal and Odisha of the Mangaldeep Land Promoters Ltd. for raising public money through illegal schemes, while a court rejected the bail plea of state minister Madan Mitra who was arrested for his alleged complicity in the multi-crore-rupee Saradha scam.

Mangaldeep is one of the 44 companies including the Saradha Group, being probed by the Central Bureau of Investigation (CBI) following orders of the Supreme Court.

\"Raids were conducted in six places in West Bengal and one in Bhadrak in Odisha... are being searched. The company directors include Ranjit Chakraborty, Mansi Chakraborty and others,\" a CBI officer said.

Earlier this month, the CBI had searched many locations of Royal International Shares, a Kolkata-based company, on similar allegations.

A city court on Thursday rejected the bail plea of Transport Minister Mitra, who was arrested by the CBI in December 2014 for his alleged involvement in the Saradha scam.

Pressing for bail before Additional Chief Judicial Magistrate Haradhan Mukherjee, Mitra\'s counsel argued that the minister has been behind bars for over four months and there was no need for his further detention as the CBI has submitted chargesheets in the case.

The CBI counsel opposed the bail contending that he was a very influential person and investigation would be hampered if he was released on bail.

The court, after hearing both the parties, rejected the bail plea of Mitra, who will remain in judicial custody till May 7.

Saradha scam: CBI conducts raids, Bengal minister denied bail