ED Raids Kerala Locations Targeting Former Nilambur MLA PV Anvar in ₹22.3 Crore Scam
Former MLA PV Anvar and four others face ED searches in massive KFC loan fraud case.
The Enforcement Directorate (ED) on Friday morning initiated large-scale search operations across multiple locations in Kerala, targeting premises belonging to former independent Nilambur MLA PV Anvar and four others in connection with a meticulously planned loan misappropriation case that caused a staggering loss of Rs 22.30 crore to the state-owned Kerala Financial Corporation (KFC). The raids began as early as 6:30 a.m., with heavily armed Central Reserve Police Force (CRPF) personnel securing the locations to prevent any interference.
Acting under the provisions of the Prevention of Money Laundering Act (PMLA), the ED is investigating PV Anvar (58), his close aide and driver Ziyad, and three senior KFC officials—Abdul Manaf, T Mini, and Muneer Ahamed—for their alleged roles in orchestrating a systematic fraud involving fraudulent sanctioning, concealment of prior liabilities, and subsequent laundering of proceeds derived from criminal activity. The case was registered following detailed complaints and evidence that pointed towards deliberate manipulation of loan procedures in 2015.
Central to the allegations is the repeated pledging of identical property documents to secure multiple loans from the same public financial institution. In September 2015, Ziyad was sanctioned a Rs 7.50-crore loan for Malamkulam Constructions Pvt Ltd from KFC’s Malappuram branch despite submitting inadequate income proof and questionable project credentials. Three months later, the same mortgaged property was presented as unencumbered collateral to obtain two separate Rs 5-crore loans—totalling Rs 10 crore—for Anvar’s firm PVR Developers on December 8, 2015, with officials allegedly certifying that no prior KFC liability existed, thereby enabling the double financing and eventual default.
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The investigation gained significant momentum after Kollam-based industrialist and planter Murugesh Narendran personally appeared before ED officers and submitted what authorities have described as critical documentary evidence pertaining to alleged black-money transactions and undisclosed financial dealings involving Anvar. The agency is now conducting an in-depth probe into disproportionate assets, suspected benami properties, large-scale diversion of loan funds into real-estate ventures, unexplained cash flows, and other unaccounted investments aimed at tracing the complete money-laundering trail across multiple entities linked to the accused.
PV Anvar, who was once officially declared the wealthiest legislator in the Kerala Assembly with declared assets exceeding Rs 64.14 crore while simultaneously reporting zero taxable income citing continuous business losses, now finds himself at the centre of one of the state’s most high-profile financial crime investigations. As ED teams continue to seize documents, digital devices, and financial records from his palatial residence in Othayi and other locations, the raids mark a dramatic fall for the former lawmaker who until recently wielded considerable political influence in the Nilambur region.
