The Enforcement Directorate (ED) has filed a prosecution complaint against FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, before a special PMLA court in Ghaziabad today, in an alleged money laundering case linked to the misuse of students’ coaching fees.
The agency has sought the conviction of the accused and confiscation of assets worth Rs 71.88 crore that were seized or provisionally attached during the investigation.
According to the ED, 32 FIITJEE coaching centres were abruptly shut between May 2024 and February 2025, affecting 14,411 students who had paid fees but could not receive the promised coaching.
The investigation began on the basis of four FIRs – three registered by Uttar Pradesh Police in Noida and Greater Noida, and one by Madhya Pradesh Police in Bhopal.
The FIRs allege that FIITJEE collected advance fees ranging from Rs 2.8 lakh to Rs 3.5 lakh per student for two-to-four-year coaching programmes for competitive examinations such as the Joint Entrance Examination (JEE).
However, several centres allegedly shut down after teachers left the institute over non-payment of salaries. The ED has alleged that the management continued admitting students despite knowing that the promised coaching programmes could not be completed.
Rs 85.79 Crore Identified As Alleged Proceeds Of Crime
The ED has estimated that Rs 85.79 crore in students’ fees was retained and allegedly misused by the company, classifying the amount as proceeds of crime under the Prevention of Money Laundering Act (PMLA).
The agency has further alleged that FIITJEE continued enrolling students in courses scheduled to run until March 2029 despite being aware of its inability to deliver the programmes.
Noida Police has already filed a chargesheet in the case, naming Dinesh Kumar Goel and Monila Goel as accused. The chargesheet reportedly draws on statements from around 300 victims, coaching centre operators and other witnesses, along with fee receipts and other evidence collected during the investigation.
Directors Allegedly Paid Themselves Rs 24.92 Crore In Salaries
The ED has alleged that Dinesh Kumar Goel and Monila Goel, who control the company, collectively received Rs 24.92 crore in salaries from the financial year 2022-23 onwards.
According to the agency, the Goel family holds an 86.31 per cent stake in the company, allowing the directors to approve their own remuneration without independent oversight.
The ED has alleged that the directors continued receiving payments even as other employees faced salary delays or non-payment.
Dinesh Kumar Goel reportedly received a monthly salary of around Rs 56 lakh, while Monila Goel was paid more than Rs 25 lakh per month, according to the agency.
The ED has also stated that Monila Goel allegedly admitted to not regularly attending the office and signing cheques from home. Payments to her reportedly continued even while coaching centres were shutting down.
ED Conducted Searches, Attached Properties
The ED conducted searches at seven locations on April 24, 2025, during which Rs 10 lakh in cash and jewellery valued at Rs 4.86 crore were seized.
On October 9, 2026, the agency provisionally attached properties valued at Rs 66.92 crore under the PMLA.
With the filing of the prosecution complaint, the ED has sought legal action against the accused and confiscation of the assets identified during the investigation.
The allegations are yet to be established in court, and the final decision on the accused’s guilt and confiscation of assets rests with the judiciary.
