Ghaziabad, Oct. 16 -- The Enforcement Directorate (ED) has filed a prosecution complaint against coaching institute FIITJEE Ltd and its directors, Dinesh Kumar Goel and Monila Goel, before a special Prevention of Money Laundering Act court in Ghaziabad over alleged fee diversion and money laundering.
The case concerns the abrupt closure of 32 FIITJEE centres between May 2024 and February 2025, leaving 14,411 students without promised coaching. The ED alleged that around Rs 85.79 crore collected as fees was misappropriated. Properties attached or seized during the investigation are valued at Rs 71.88 crore.
The institute allegedly charged students Rs 2.8 lakh to Rs 3.5 lakh in advance for courses lasting two to four years, while continuing admissions despite doubts about delivering classes until March 2029.
The ED said the directors received Rs 24.92 crore in salaries from 2022-23 onwards. Noida Police has also filed a chargesheet naming both directors as accused. The allegations will be examined by the court.
Published by HT Digital Content Services with permission from Millennium Post.