Directorate for enforcement of law (ED) has launched an investigation into a financial fraud case concerning the former Nilambur MLA PV Anvar, its drivers and three Financial Corporation Keral (KFC). Ed asks the case under the Money Laundering Act of 2002.
The ED case monitors the ongoing investigation of vigilance against Mr. Anvar and another into the alleged fraud of a loan that caused a KFC loss of 22.30 crore.
Mugesh Narendran, the complainant in this case, testified before Tuesday’s ED officers in Kochi. Sources said Mr. Anvar would soon be convened.
KFC Malappuram officials, including C. Abdul Manaf, the manager of T. Mini and the technical director of P. Muneer Ahamed, reportedly agreed with Mr. Anvar and his driver A. Siyad, which violates the standards of the sanction of Defraud KFC.
In 2015, KFC managers granted a crore loan to Mr. Siyad without proper documentation, installment or collateral assessment. With Mr. Anvar and Mr. Siyad as a guarantee, the loan did not pay, which led to a loss of 16.52 GBP for KFC.
In the same year, KFC managers released additional loans of 3.05 GBP and CRORE 1.56 GBP developers PVR, which owns Mr. Anvar, using the same collateral from an earlier starting loan.
Mr. Anvar reportedly hid his involvement and falsely declared any other KFC loans. This led to the total loss of KFC 22.30 GBP Crore due to irregular loans.
Mr. Anvar could not be addressed for his comments.
Published – 8 October 2025 09:01
