ED Charges FIITJEE, Directors Over ₹85.79-Crore Fee Misuse
The ED said 32 FIITJEE centres closed between May 2024 and February 2025, affecting 14,411 students.
New Delhi: The Enforcement Directorate (ED) on Thursday filed a prosecution complaint against coaching institute FIITJEE and its directors Dinesh Kumar Goel and Monila Goel for allegedly misappropriating Rs 85.79 crore collected as fees from students, leaving thousands without coaching after the abrupt closure of several centres.
The agency filed the complaint under the Prevention of Money Laundering Act (PMLA) before a special court in Ghaziabad, seeking conviction of the accused and confiscation of assets worth Rs 71.88 crore seized or attached during the investigation.
According to the ED, FIITJEE collected advance fees ranging from Rs 2.8 lakh to Rs 3.5 lakh per student for coaching programmes lasting two to four years, promising preparation for competitive examinations, including the IIT-JEE.
However, the agency alleged that several centres closed abruptly after faculty members left over unpaid salaries.
The management allegedly continued collecting fees from new students despite knowing that the promised coaching could not be delivered.
The ED said 32 FIITJEE centres closed between May 2024 and February 2025, affecting 14,411 students.
The agency alleged that the company continued admitting students for programmes extending up to March 2029 despite its financial difficulties.
The investigation also found that Dinesh Kumar and Monila Goel had drawn Rs 24.92 crore in salaries since 2022-23, even as other employees faced delayed or unpaid salaries.
"As the Goel family holds 86.31 per cent of the shares, the directors approved their own salaries without independent checks.
They paid themselves first, even as other employees' salaries were delayed/unpaid," the ED said.
The agency alleged that Dinesh Kumar received about Rs 56 lakh a month, while Monila drew more than Rs 25 lakh despite not regularly attending office.
According to the ED, Monila admitted that she generally signed cheques from home.
Payments to her allegedly continued even when coaching centres were closing.
The money-laundering investigation stems from four police FIRs registered in Uttar Pradesh and Madhya Pradesh over allegations of cheating and diversion of student fees.
The ED provisionally attached assets worth Rs 66.92 crore on October 9.
Earlier searches in April 2025 yielded Rs 10 lakh in cash and jewellery worth Rs 4.86 crore.
Noida police had earlier chargesheeted the couple on the basis of statements from around 300 victims, coaching centre operators and other witnesses, along with fee receipts and other evidence.