New Delhi, March 31 :    New Delhi, March 31:  The Central Bureau of Investigation (CBI) today raided the office and residence of Central Board of Excise and Customs chairman B.P. Verma for allegedly accepting huge amounts in bribes. The CBI's anti-corruption branch swooped down on Verma's residence at Hudco Place in south Delhi as well as his office, in a bid to unearth evidence that he had favoured a Chennai-based export firm and received illegal gratification. Raids were also carried out at 13 other places which the CBI believes is connected to Verma. These include the office and residential premises of Sandeep Srivastava, who was officer on special duty attached to Verma, and the school run by the CBEC chairman's wife. The investigators are being led by joint-director M.S. Bali. This evening, the finance ministry put Verma on compulsory wait and appointed Sukumar Shankar as the new CBEC chairman. If found guilty, Verma could be arrested and charged under the Prevention of Corruption Act and for possessing assets disproportionate to his known source of income. But he can be arrested only after the CBI gets the sanction of the finance ministry. According to CBI spokesman S.M. Khan, the investigating agency received an intelligence input that 'some money (the CBI is not sure yet whether it was Rs 2 crore or Rs 2 lakh) was expected to change hands' at a five-star hotel on March 23. On that day, a team of anti-corruption branch officials maintained surveillance inside Hotel Le Meridien. When the money was handed over to Verma's son, Siddharth, the sleuths moved in. But they did not immediately arrest either Siddharth or the person found giving the bribe. Subsequent investigations revealed that Verma used to favour the Chennai-based export firm, A.K. Enterprises, by lowering customs duty on garments that were imported by the firm. In some cases it was found that the company imported 'rags' which were passed off as garments. The CBI suspects that in exchange Verma would accept 'huge bribes'. Although the total amount Verma accepted as bribe has not been ascertained yet, agency sources said it could run into several lakhs, 'if not crores'. They said it was usually Siddharth who would collect the bribe on behalf of his father. Siddharth is a garment exporter who is understood to have been associated with A.K. Enterprises. CBI sources said that besides probing his bank accounts, investigators will also inquire into properties held by Verma in and around Delhi. Sources suspect that some of the properties could be 'benami'.