ED chargesheets FIITJEE, directors in Rs 85.79 crore coaching fee fraud case

The Enforcement Directorate (ED) has filed a prosecution complaint against coaching institute FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, in connection with an alleged Rs 85.79 crore money laundering case involving fees collected from thousands of students for competitive examination coaching programmes.

The complaint was filed before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad on Thursday. The central agency has sought the conviction of the accused and confiscation of assets worth Rs 71.88 crore seized or provisionally attached during its investigation.

According to the ED, 32 FIITJEE coaching centres across the country were abruptly closed between May 2024 and February 2025, affecting 14,411 students who had paid substantial advance fees but were allegedly denied the promised coaching services.

The agency has alleged that the institute continued enrolling students and collecting fees despite being aware of its inability to complete the courses.

𝗧𝗵𝗼𝘂𝘀𝗮𝗻𝗱𝘀 𝗼𝗳 𝘀𝘁𝘂𝗱𝗲𝗻𝘁𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗲𝗱

The money laundering investigation originated from four First Information Reports (FIRs), including three registered by Uttar Pradesh Police in Noida and Greater Noida and another by Madhya Pradesh Police in Bhopal.

The complaints alleged that FIITJEE collected advance fees ranging from Rs 2.8 lakh to Rs 3.5 lakh per student for coaching programmes lasting between two and four years.

These programmes were intended to prepare students for competitive examinations, including the Joint Entrance Examination (JEE), which is used for admission to engineering institutions.

However, several coaching centres allegedly closed after faculty members resigned because of unpaid salaries.

The ED has alleged that the management continued admitting students even after becoming aware that the institute would not be able to fulfil its commitments.

Investigators also found that students were enrolled in programmes scheduled to continue until March 2029, despite the alleged deterioration in the institute's ability to provide coaching.

The agency identified Rs 85.79 crore collected from students as money allegedly retained and misused by the company, treating the amount as proceeds of crime under the PMLA.

𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗮𝗹𝗹𝗲𝗴𝗲𝗱𝗹𝘆 𝗿𝗲𝗰𝗲𝗶𝘃𝗲𝗱 𝗥𝘀 𝟮𝟰.𝟵𝟮 𝗰𝗿𝗼𝗿𝗲

A significant part of the ED's investigation has focused on payments made to the company's directors while the institute was allegedly struggling to meet its financial obligations.

According to the agency, Dinesh Kumar Goel and Monila Goel collectively received Rs 24.92 crore in salaries from the financial year 2022-23 onwards.

The ED has alleged that the Goel family controls 86.31 per cent of the company's shareholding, giving the directors substantial influence over decisions concerning their remuneration.

Investigators claimed that the directors continued receiving substantial payments even as employees faced delayed or unpaid salaries.

According to the agency, Dinesh Kumar Goel received approximately Rs 56 lakh a month, while Monila Goel was paid more than Rs 25 lakh monthly.

The ED further alleged that Monila Goel acknowledged not regularly attending the office and signing cheques from home.

Despite this, payments to her allegedly continued during the period when coaching centres were shutting down.

The agency has cited these transactions while examining the alleged diversion and misuse of funds collected from students.

𝗣𝗼𝗹𝗶𝗰𝗲 𝗿𝗲𝗰𝗼𝗿𝗱𝗲𝗱 𝘀𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀 𝗼𝗳 𝟯𝟬𝟬 𝘄𝗶𝘁𝗻𝗲𝘀𝘀𝗲𝘀

The Noida Police have already filed a chargesheet in the underlying criminal case, naming Dinesh Kumar Goel and Monila Goel as accused.

The police investigation reportedly relied on statements from approximately 300 people, including affected students, coaching centre operators and other witnesses.

Investigators also examined fee receipts and other documentary evidence concerning the collection of advance payments and the subsequent closure of coaching centres.

The complaints form the basis of the ED's separate investigation into whether funds obtained through the alleged offences were handled in violation of the anti-money laundering law.

𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝗶𝗲𝘀 𝘄𝗼𝗿𝘁𝗵 𝗥𝘀 𝟲𝟲.𝟵𝟮 𝗰𝗿𝗼𝗿𝗲 𝗮𝘁𝘁𝗮𝗰𝗵𝗲𝗱

As part of its investigation, the ED conducted searches at seven locations on April 24, 2025.

During the searches, investigators seized Rs 10 lakh in cash and jewellery valued at Rs 4.86 crore.

Subsequently, on October 9, 2026, the agency provisionally attached properties worth Rs 66.92 crore under the PMLA.

Together, the seized and attached assets amount to Rs 71.88 crore, which the agency now seeks to confiscate through the judicial process.

The filing of the prosecution complaint marks a further stage in the ED's proceedings against the company and its directors.

The allegations of fraud and money laundering remain subject to judicial determination. The accused have not been convicted, and any confiscation of assets will depend on the outcome of the proceedings before the competent court.