IPL RAID

No no man, no raid is conducted by the excise department, they aren't trading goods or manufacturing anything. 

Basically, two teams have conducted surveys ( not raids ) -

Income Tax Department- A raid (or a search and seizure) is conducted in consonance with Section 132 of the IT Act, it gives power to IT officials to search and 'seize' documents. What they are doing now at IPL offices is survey, where they go to offices and only investigate the evidence, they can't seize it.  A survey is conducted in consonance They can't seize any documents, and the section applicable to this is 133A. 

Enforcement Directorate - The ED basically deals with FEMA violations and money laundering investigations. A lot of the companies who have bought the IPL teams have money coming in from tax havens like Mauritius and Cayman Islands, some of the IPL companies have shares sold to foreign investors without FDI clearance, and some have remitted money without requisite RBI clearance. To look into all this, ED is bought in. Refer to Section 3 of the FEMA Act, most of the franchises have been booked under this section.