Fri Nov 21 04:43:29 UTC 2025: News Article:

ED Raids Residences of Trinamool Congress Kerala Convener in Loan Scam Investigation

Malappuram, Kerala – November 21, 2025: The Enforcement Directorate (ED) conducted raids early this morning at multiple residences belonging to All India Trinamool Congress (AITC) Kerala State convener and former MLA, P.V. Anvar, and his relatives in the Malappuram district of Kerala. The raids are part of an ongoing investigation into a significant financial fraud case involving Anvar, his driver, and three managers from the Kerala Financial Corporation (KFC).

The operation, involving multiple ED teams from Chennai, Kochi, and Kozhikode, supported by central police forces, began at six locations across the district soon after dawn. The ED is investigating the case under the Prevention of Money Laundering Act, 2002, initiated after a Vigilance inquiry revealed a loan scam causing an estimated ₹22.3 crore loss to KFC.

The probe centers on allegations that KFC officials, including chief manager C. Abdul Manaf, deputy manager T. Mini, and technical officer P. Muneer Ahamed, colluded with Anvar and his driver, A. Siyad, to bypass standard loan procedures. In 2015, a ₹7.5 crore loan was allegedly granted to Siyad without proper documentation, repayment assessment, or collateral, resulting in a ₹16.52 crore loss for KFC due to non-payment. Anvar acted as a surety for the loan.

The investigation further alleges that additional loans, totaling ₹4.61 crore (₹3.05 crore and ₹1.56 crore), were issued to Anvar’s company, PVR Developers, in the same year, using the same collateral from the defaulted loan. Authorities claim that Anvar concealed his involvement in these loans and made false declarations of no other KFC loans.

The ED is currently examining Anvar’s assets for disproportionate wealth, suspected benami holdings, and any diversion of funds into real estate or other unaccounted investments in an attempt to trace the alleged money laundering activities. The complainant in the case, Murugesh Narendran, testified before ED officers in Kochi last month.

The investigation is ongoing.

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