LUCKNOW: The Enforcement Directorate (ED) has filed a prosecution complaint against FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, before the Special Prevention of Money Laundering Act (PMLA) Court in Ghaziabad over the alleged misappropriation of fees collected from students enrolled in the coaching institute’s competitive examination programmes.The ED’s Lucknow Zonal Office filed the complaint on October 15, seeking the conviction of the company and its directors for the alleged offence of money laundering, along with the confiscation of properties worth Rs 71.88 crore that have been seized or provisionally attached during the investigation.According to the ED, its investigation under the Prevention of Money Laundering Act, 2002, has revealed that FIITJEE abruptly shut down 32 coaching centres between May 2024 and February 2025, leaving 14,411 enrolled students without the coaching programmes for which they had paid in advance.The agency has quantified the portion of fees allegedly retained and misappropriated at Rs 85.79 crore, describing it as proceeds of crime.The investigation was initiated on the basis of four FIRs registered by the Uttar Pradesh Police in Noida and Greater Noida and the Madhya Pradesh Police in Bhopal.The cases were registered under Sections 316(2), 318(4), 61(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, corresponding to Sections 406, 420, 120B and 34 of the Indian Penal Code, 1860, relating to allegations of criminal breach of trust, cheating and conspiracy, among other offences.
Students allegedly charged up to Rs 3.5 lakh in advance
The FIRs alleged that FIITJEE collected between Rs 2.8 lakh and Rs 3.5 lakh per student in advance for coaching programmes lasting two to four years to prepare candidates for competitive examinations, including the Joint Entrance Examination (JEE).The payments were reportedly made on the assurance that students would receive coaching for the entire duration of their respective programmes.However, faculty members allegedly left the institute after their salaries remained unpaid, following which several centres were abruptly shut without prior notice to students and their parents.The complaints further alleged that the management diverted the fees collected from students and continued admitting new students on assurances that the promised coaching programmes would be delivered, even after faculty members had left.The ED said its investigation found that the institute continued to enrol students for programmes extending up to March 2029 despite knowing that it would be unable to provide the promised services.The fees collected from these students were spent while the company remained in a continuous deficit, according to the agency.The alleged retention and misappropriation of ₹85.79 crore in student fees forms the basis of the money laundering investigation.
Directors allegedly drew Rs 24.92 crore in salaries
The ED investigation also examined payments made to the company’s directors. According to the agency, Dinesh Kumar Goel and Monila Goel, who controlled the company’s affairs, received a combined Rs 24.92 crore in salaries from the financial year 2022-23 onwards.The agency stated that members of the Goel family held 86.31% of the company’s shares, enabling the directors to approve their own remuneration without an independent check.The ED alleged that the directors prioritised their own salaries even as payments to other employees were delayed or remained unpaid.Dinesh Kumar Goel reportedly drew a monthly salary of approximately Rs 56 lakh, while Monila Goel received more than Rs 25 lakh per month.The agency further stated that Monila Goel had admitted during the investigation that she did not attend the office regularly and generally signed cheques from home.Despite this, payments to her continued even as coaching centres were being shut down.The ED is examining these payments as part of its investigation into the alleged diversion and laundering of funds collected from students.
Noida Police has filed chargesheet
The Noida Police has already filed a chargesheet in the case, naming Dinesh Kumar Goel and Monila Goel as accused.According to the ED, the police chargesheet is based on statements from around 300 victims, operators of FIITJEE coaching centres and other witnesses. Fee receipts and other material collected during the investigation have also been cited as evidence.The police investigation concerns the alleged collection of advance fees and the subsequent closure of coaching centres without delivering the promised programmes.The ED’s separate proceedings under the PMLA focus on tracing the alleged proceeds of crime and identifying assets linked to the suspected misappropriation.Searches conducted in April 2025; properties attachedAs part of the money laundering investigation, the ED had conducted searches at seven premises on April 24, 2025. During the searches, the agency seized cash amounting to ₹10 lakh and jewellery valued at Rs 4.86 crore.Subsequently, on October 9, 2026, the ED provisionally attached properties worth Rs 66.92 crore under the provisions of the PMLA.With the filing of the prosecution complaint, the agency has sought the conviction of FIITJEE Limited and its directors and the confiscation of assets worth ₹71.88 crore seized or provisionally attached during the investigation.Further investigation into the case is underway.The allegations against the company and its directors will be subject to adjudication by the competent court.
