Malappuram/Kochi, Nov 22 (AHN) Former Nilambur MLA and Trinamool Congress leader P.V. Anvar, on Saturday, termed the Enforcement Directorate (ED) search at his residence and linked premises as "politically motivated", asserting that the investigation was related to a legitimate loan he had availed from the Kerala Financial Corporation (KFC) in 2015.

"I had taken a loan of Rs 9.5 crore, of which around Rs 6 crore has already been repaid. There is no money laundering involved. I only availed a lawful loan," he said, claiming he had submitted all relevant explanations and documents to the ED.

Anvar said he had applied for a one-time settlement and emphasised that the loan was taken before he became an MLA.

"The allegation that two loans were taken using the same property is misleading. Many applicants receive one-time settlement options. Why was I alone denied? It must be due to political reasons," he alleged.

He asked whether there were any political leaders who had not faced ED probes, hinting at selective targeting across parties.

Meanwhile, ED officials said searches were conducted at residential, business and institutional premises linked to Anvar, including Malamkulam Constructions Private Limited, Pee Vee Aar Developers and Bis Manjeri LLP, in connection with alleged irregularities in securing loans.

Investigators suspect diversion of funds, benami ownership of assets and use of the same collateral for multiple loans without proper verification by KFC officials.

The loans, totaling Rs 12 crore, have now reportedly turned into non-performing assets, with outstanding dues, including interest, pegged at nearly Rs 22.30 crore.

Various documents, digital devices and property records were seized during the operation, and further questioning of Anvar is likely.

Anvar early this year while being a two-time Left-supported Independent legislator split up with Kerala Chief Minister Pinarayi Vijayan and resigned as legislator.

Even though he initially said he will not contest the by-election following break-up of talks with the Congress-led UDF, he contested and came a distant third, with the Congress regaining the Nilambur seat after losing to Anvar in 2016 and 2021.