P. V. Anvar
| Photo Credit: K K Mustafah
Officers of the Enforcement Directorate (ED) raided the residences of All India Trinamool Congress (AITC) Kerala State convener and former MLA P.V. Anvar and his relatives in Malappuram district of Kerala on Friday (November 21, 2025) as part of an ongoing investigation into a financial fraud case involving Mr. Anvar, his driver and three managers of the Kerala Financial Corporation (KFC).
Multiple teams of the ED from Chennai, Kochi and Kozhikode units, supported by the Central police force, began the raid at six houses soon after dawn on Friday.
The ED is investigating the case under the Prevention of Money Laundering Act, 2002. The ED took up the case following a Vigilance inquiry against Mr. Anvar and others into the alleged loan scam that caused a loss of ₹22.3 crore to KFC.
Murugesh Narendran, the complainant in the case, had testified before ED officers in Kochi last month.
KFC Malappuram unit officials, including chief manager C. Abdul Manaf, deputy manager T. Mini and technical officer P. Muneer Ahamed, allegedly colluded with Mr. Anvar and his driver A. Siyad, breaching loan sanction norms to defraud KFC.
KFC managers granted a ₹7.5-crore loan in 2015 to Mr. Siyad without proper documentation, repayment assessment or collateral.
With Mr. Anvar and Mr. Siyad as sureties, the loan went unpaid resulting in a ₹16.52-crore loss for KFC.
In the same year, KFC managers issued additional loans of ₹3.05 crore and ₹1.56 crore to PVR Developers owned by Mr. Anvar, using the same collateral from the earlier defaulted loan.
Mr. Anvar allegedly concealed his involvement and falsely declared no other KFC loans. This led to a total KFC loss of ₹22.30 crore due to irregular loan disbursements.
ED is examining disproportionate assets, suspected benami holdings, diversion of funds into real estate projects, and other unaccounted investments to trace the alleged money laundering trail.
Published – November 21, 2025 10:13 am IST
