ED files chargesheet against FIITJEE, director couple; 32 centres shut, over 14,000 students hit - All you need to know
The Enforcement Directorate (ED) has filed a chargesheet against prominent coaching institute FIITJEE Ltd. and its director couple, Dinesh Kumar Goel and Monila Goel.
The prosecution complaint, filed before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad, alleged the misappropriation of over ₹85 crore collected from students.
The central agency’s probe revealed a massive diversion of funds and breach of trust by the institute's management, PTI reported.
The institute allegedly collected fees ranging from ₹2.8 lakh to ₹3.5 lakh per student in advance for 2 to 4-year competitive coaching programs, such as the IIT-JEE, promising full delivery of the courses.
The ED claimed that FIITJEE continued to admit new students and collect fees for programs running up to March 2029, even after it knew it could not deliver the classes.
The management allegedly diverted the collected student fees and spent the money, while the company continued to operate at a deficit.
According to PTI, the institute's faculty began leaving due to delayed or unpaid salaries.
The ED investigation highlighted the severe toll the management's actions took on enrolled students. Between May 2024 and February 2025, FIITJEE abruptly shut down 32 coaching centres without any prior notice.
The closures left 14,411 enrolled students stranded without the coaching they had already paid for.
The agency has categorised the retained and misappropriated student fees—amounting to ₹85.79 crore—as the "proceeds of crime".
While faculty salaries were delayed or unpaid, the promoters allegedly prioritised their own payouts, PTI reported.
Dinesh Kumar Goel and Monila Goel, who hold an 86.31 per cent share in the company, allegedly used their majority stake to approve their own salaries without independent checks.
Starting in 2022-23, the couple drew ₹24.92 crore in salary. Dinesh Kumar drew approximately ₹56 lakh per month, while Monila Goel received over ₹25 lakh per month.
The ED noted that Monila admitted to rarely attending the office, primarily signing cheques from home. Her payments continued even as the coaching centres were shutting down.
The ED's money laundering investigation stems from four police FIRs—two filed by the Uttar Pradesh Police in Noida and two by the Madhya Pradesh Police in Bhopal.
The Noida Police had already filed a chargesheet against the couple based on fee receipts and statements from 300 victims, coaching centre operators, and other witnesses.
During searches in April 2025, the ED seized ₹10 lakh in cash and jewellery worth ₹4.86 crore. On October 9, the agency provisionally attached assets worth ₹66.92 crore. The ED is now seeking the confiscation of properties totalling ₹71.88 crore.
FIITJEE, founded in 1992 and headquartered in Delhi, has not yet issued a public statement regarding the ED's chargesheet.
(With PTI inputs)
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