ED files PMLA charges against FIITJEE, directors over ₹85.79 cr fee diversion

Lucknow: Enforcement Directorate has filed a prosecution complaint against coaching institute FIITJEE Ltd and its directors, Dinesh Kumar Goel and Monila Goel, before a special PMLA court in Ghaziabad, alleging large-scale diversion and misappropriation of student fees collected for competitive exam coaching.The agency has sought their conviction under the Prevention of Money Laundering Act and confiscation of assets worth ₹71.88 crore that were seized or provisionally attached during the probe.Filed by the ED’s Lucknow Zonal Office on Oct 15, the complaint arises from an investigation into alleged siphoning of advance fees paid by students enrolled in FIITJEE’s programmes for engineering entrance examinations, including JEE.The ED said FIITJEE shut down 32 centres across the country between May 2024 and Feb 2025, leaving 14,411 students without services for which fees had already been paid.The agency has quantified the allegedly retained and misappropriated amount at ₹85.79 crore and termed it “proceeds of crime”.The money-laundering case stems from four FIRs registered in Noida, Greater Noida and Bhopal on allegations of cheating, criminal breach of trust and conspiracy. Investigators alleged the institute collected advance fees of ₹2.8 lakh to ₹3.5 lakh per student for courses spanning two to four years, while assuring uninterrupted coaching for the full programme period.Complaints alleged faculty began leaving after salaries were not paid, triggering operational disruption and closure of centres without prior notice.The ED further alleged FIITJEE continued enrolling students and collecting fees for programmes extending up to March 2029 despite being aware it could not deliver the promised services, and that it continued spending collections amid financial stress and liabilities.The agency also flagged promoter remuneration, alleging the directors drew a combined ₹24.92 crore in salaries from FY 2022-23 onwards.It said the Goel family held 86.31% shareholding, enabling approval of remuneration, and alleged Dinesh Kumar Goel drew about ₹56 lakh per month while Monila Goel received over ₹25 lakh monthly.You Can Also Check: Gold Rate in Lucknow | Silver Rate in Lucknow | Bank Holidays in Lucknow | Public Holidays in Lucknow | Lucknow AQI | Weather in Lucknow | Petrol Price in Lucknow | Diesel Price in Lucknow | CNG Price in Lucknow | LPG Price in LucknowStay updated with the latest Lucknow news. Download the TOI App.