DMK Rajya Sabha member Agni Raj and two former office bearers of a housing society have been arrested in connection with the alleged irregularities of Rs 14.7 million (Rs 1.47 crore) in the society of which the MP was the chairman during 1997-2001, police said in Madurai.

They were remanded to custody by a judicial magistrate.

Agni Raj and the two former directors of the Tirunagar Cooperative Housing Society, Samuel Vedamanickam and S V Sundar, were arrested in Tirunagar on Monday morning by the commercial crime branch wing of the police on charges of alleged irregularities, which included allocation 17,724 sq ft of land in Tirunagar locality during 1997-2001 causing a loss of Rs 2,522,483 to the society, DSP Jayakumar told PTI.

Agni Raj, the two others and the society's vice president, who is yet to be arrested, had allegedly misused their power while allocating 206 plots spread over 12.38 acres at Tanakankulam, Jayakumar said.