NEW DELHI — India’s main investigative agency on Monday raided residences and offices connected to the founders of NDTV, an influential cable TV station that has had run-ins with Prime Minister Narendra Modi’s government over its news coverage.

The agency, the Central Bureau of Investigation, cited “causing an alleged loss to a bank” as the reason for the four simultaneous raids. The agency has registered cases against Prannoy and Radhika Roy, a married couple who founded NDTV, in connection with a loss of about 480 million rupees, or nearly $7.5 million, sustained by ICICI, a private bank, said R. K. Gaur, a spokesman for the agency. Mr. Gaur said a private company and “others” were also being investigated.

But NDTV called the raids a politically motivated “witch hunt,” and journalists for other Indian news outlets cast them as retaliation for the station’s coverage. NDTV has often reported critically on policies put forward by Mr. Modi’s government, and frictions have surfaced recently on the air, including a segment in which an anchor asked a spokesman for the prime minister’s Bharatiya Janata Party to apologize for a comment or leave the set.

“We will not succumb to these attempts to blatantly undermine democracy and free speech in India,” said an unsigned statement posted on NDTV’s website. “We have one message to those who are trying to destroy the institutions of India and everything it stands for: We will fight for our country and undermine these forces.”