ED raids 8 locations linked to FIITJEE over centre closures

Entrackr · 1d

The Enforcement Directorate (ED) reportedly launched a money laundering probe against premier coaching institute FIITJEE, conducting raids at eight locations across Delhi-NCR. The searches were carried out under the Prevention of Money Laundering Act (PMLA) and are linked to multiple FIRs registered by the Economic Offences Wings (EOW) of Delhi and Noida Police. The probe was initiated following complaints from parents, who claimed that FIITJEE unexpectedly closed multiple centres without any prior intimation, disrupting students’ education and withholding refunds. According to a report by Mint, ED officials searched FIITJEE’s offices as well as properties associated with its promoter and Managing Director, Dinesh Kumar Goel. The Delhi Police has already booked Goel and the company under IPC sections related to cheating, criminal conspiracy, and breach of trust. The report added that Dinesh Goyal’s PAN was linked to 172 current accounts and 12 savings accounts. In February, the Noida Police froze Rs 11.11 crore across 12 bank accounts associated with the FIITJEE founder. Founded in 1992, FIITJEE has been a key player in India’s IIT-JEE coaching space, operating over 70 centres nationwide. However, recent developments have cast a shadow over its reputation. Several complaints also cite exaggerated marketing claims and failure to honour refund policies, according to The New Indian Express. Parents and students have been staging protests across closed centres, demanding accountability. “We invested lakhs based on trust and were completely blindsided,” said a parent outside FIITJEE’s east Delhi office. While FIITJEE is yet to release an official statement, the incident has sparked fresh debate around the regulation of India’s booming private coaching industry. The ED’s investigation is ongoing.