ED Issues Notice To Interrogate P V Anvar In KFC Loan Misappropriation Case

Kochi: The Enforcement Directorate has issued a notice to former MLA P V Anvar, asking him to appear for questioning in connection with its probe into the alleged misappropriation of loans from the Kerala Financial Corporation (KFC). Officials said Anvar has been directed to present himself at the ED office in Kochi on December 31.

Sources said the notice was sent to Anvar through both post and email. The summons follows searches conducted by the ED in November at residences and business establishments linked to Anvar in Malappuram district.

The probe relates to loans sanctioned by the KFC to firms allegedly controlled by Anvar. According to the ED, a loan of Rs 7.5 crore was granted in 2015 to Malamkulam Constructions, a firm associated with him. Subsequently, loans of Rs 3.05 crore and Rs 1.56 crore were sanctioned to another firm, Pee Vee Aar Developers, using the same collateral properties within a short period. The ED said this resulted in a total non-performing asset of around Rs 22.3 crore.

In a statement, the agency said it had identified at least 15 bank accounts held in the names of different individuals, allegedly benamis, through which suspicious financial transactions were carried out. During the searches, Anvar reportedly admitted that he was the real beneficial owner of Malamkulam Constructions, though the company was registered in the names of his nephews and his driver. He also acknowledged that the loan amounts were used for the large township project known as Pee Vee Aar (PVR) Metro Village.

The ED further claimed that certain buildings at the PVR Metro Village were constructed by Malamkulam Constructions Pvt Ltd without obtaining mandatory approvals from local authorities and that proceeds of crime were diverted into these construction activities. Searches at premises linked to Bis Manjeri LLP and the PVR Metro Village revealed extensive commercial and construction activity, including schools, amusement parks, resorts, villa projects and apartment complexes, the agency said.

The investigation was initiated after the Kerala Vigilance and Anti-Corruption Bureau registered a corruption case related to alleged loan misappropriation at the KFC Malappuram office. Last month, the ED recorded the statement of Murugesh Narendran, the complainant in the vigilance case.

Anvar is currently associated with the All India Trinamool Congress, which has recently been included as an associate party of the UDF. Anvar had unsuccessfully contested the recent Assembly by-election on a Trinamool Congress ticket.