6 months ago
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Officers of the Enforcement Directorate (ED) raided the residences of All India Trinamool Congress (AITC) Kerala State convener and erstwhile MLA P.V. Anvar and his relatives successful Malappuram territory of Kerala connected Friday (November 21, 2025) arsenic portion of an ongoing probe into a fiscal fraud lawsuit involving Mr. Anvar, his operator and 3 managers of the Kerala Financial Corporation (KFC).
Multiple teams of the ED from Chennai, Kochi and Kozhikode units, supported by the Central constabulary force, began the raid astatine six houses soon aft dawn connected Friday.
The ED is investigating the lawsuit nether the Prevention of Money Laundering Act, 2002. The ED took up the lawsuit pursuing a Vigilance enquiry against Mr. Anvar and others into the alleged indebtedness scam that caused a nonaccomplishment of ₹22.3 crore to KFC.
Murugesh Narendran, the complainant successful the case, had testified earlier ED officers successful Kochi past month.
KFC Malappuram portion officials, including main manager C. Abdul Manaf, lawman manager T. Mini and method serviceman P. Muneer Ahamed, allegedly colluded with Mr. Anvar and his operator A. Siyad, breaching indebtedness authorisation norms to defraud KFC.
KFC managers granted a ₹7.5-crore indebtedness successful 2015 to Mr. Siyad without due documentation, repayment appraisal oregon collateral.
With Mr. Anvar and Mr. Siyad arsenic sureties, the indebtedness went unpaid resulting successful a ₹16.52-crore nonaccomplishment for KFC.
In the aforesaid year, KFC managers issued further loans of ₹3.05 crore and ₹1.56 crore to PVR Developers owned by Mr. Anvar, utilizing the aforesaid collateral from the earlier defaulted loan.
Mr. Anvar allegedly concealed his engagement and falsely declared nary different KFC loans. This led to a full KFC nonaccomplishment of ₹22.30 crore owed to irregular indebtedness disbursements.
ED is examining disproportionate assets, suspected benami holdings, diversion of funds into existent property projects, and different unaccounted investments to hint the alleged wealth laundering trail.
