Only took some loans for construction, there is no black money: P V Anvar on ED raids

Malappuram(Kerala), Nov 22 (PTI) Kerala state convener of Trinamool Congress (TMC), P V Anvar, on Saturday said that he only took some loans from the Kerala Financial Corporation (KFC), some of which he has not repaid, for construction activities and there was no black money angle in it.

The former MLA was responding here to reporters' queries regarding the Enforcement Directorate (ED) probe into the alleged loan misappropriation by him from the KFC and the raids carried out by the agency at his residences and businesses.

Anvar said that he took two loans for a total of Rs 9.5 crore from KFC and of that amount, Rs 1.5 crore was used to settle another loan and around Rs 6 crore was repaid.

The KFC is demanding a huge amount towards the remaining loan, interest and penalty and he had offered a figure for a one-time-settlement, Anvar said.

"But, KFC rejected the offer and I sent them a letter asking how much they want for a one-time-settlement. It was while waiting for their response that this ED action took place," he said.

ED carried out raids on the residences and businesses of Anvar here on Friday and claimed that it has unearthed financial irregularities linked to the political leader's business dealings.

The agency has said it was probing a Rs 7.5 crore loan KFC had granted to Malamkulam Constructions in 2015.

It also said that loans to the tune of Rs 3.05 crore and Rs 1.56 crore were sanctioned to Pee Vee Aar Developers, using the same collateral properties within a short interval, resulting in a total NPA of approximately Rs. 22.3 crore.

According to ED, preliminary evidence indicates diversion of the sanctioned funds, use of nominal shareholders and directors, and suspected benami ownership of assets.

Rejecting the allegations against him, Anvar claimed that he only took some loans like everyone does and failed to repay the entire amount.

He further claimed that two loans were taken with the same property as collateral from KFC itself and without hiding anything.

"All the documents were with the KFC," he said.

He further said that all opposition parties in the country were facing ED probes and there was nothing to be concerned about.

The ED has said that Anvar has admitted to using the loan amounts for a large township project -- Pee Vee Aar (PVR) Metro Village.

The agency has further claimed that certain buildings were constructed in PVR Metro Village by Malamkulam Constructions Pvt Ltd without proper approvals from the local regulatory body, and proceeds of crime were infused in the said construction.

ED initiated the investigation after the Kerala Vigilance and Anti-Corruption Bureau (VACB) recently registered a corruption case related to loan misappropriation at the KFC Malappuram office.

Anvar, a former MLA from Nilambur, parted ways with the LDF following differences and later contested the Assembly by-election on an All India Trinamool Congress ticket early this year. PTI HMP ADB