An ED team, accompanied by CRPF personnel, arrived at Anvar’s house in Othayi by 6:30 on Friday morning and began the search after securing the premises by locking the gate.

Simultaneous searches were also carried out at the residences of Siyad and the KFC officials, the official said.

According to the investigation, Ziyad was sanctioned a Rs 7.50-crore loan on September 23, 2015, from the KFC Malappuram branch for construction purposes in the name of Malamkulam Constructions Pvt. Ltd., despite insufficient income proof.

After he defaulted, the same property pledged as collateral was reused to grant two loans of Rs 5 crore each — totalling Rs 10 crore — to Anvar under PVR Developers on December 8, 2015. Officials allege that Ziyad concealed his existing loan and certified that no KFC liability existed, enabling the subsequent loans to Anvar.

The ED is now examining the financial dealings of Malamkulam Constructions, PVR Developers, and other entities linked to Anvar and Ziyad as part of its money laundering investigation.

PV Anvar, once declared the richest MLA in Kerala, had declared assets worth Rs 64.14 crore, but reported zero taxable income, citing continued losses.