NEW DELHI (Reuters) - Indian federal police investigating the AgustaWestland bribery case launched raids in the New Delhi area and city of Chandigarh on Wednesday after formally launching a probe into the helicopter company and a former top Indian air force officer.

The Central Bureau of Investigation said it had registered a criminal case under India's anti-corruption laws and named Italian defense company Finmeccanica, and its Anglo-Italian subsidiary AgustaWestland as targets of its probe.

It said in a statement that a total of four firms and 12 individuals, including former Indian air force chief S.P. Tyagi, were being investigated. Searches were under way at 14 locations.

AgustaWestland has denied paying bribes in a $750 million deal to supply 12 helicopters for Indian political leaders. Italian police have arrested the head of Finmeccanica, Giuseppe Orsi, in connection with the case.

(Reporting By Satarupa Bhattacharjya, writing by Ross Colvin, editing by John Chalmers)