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4d ago

ED Raids FIITJEE Properties in Delhi-NCR Over Money Laundering Allegations

The Enforcement Directorate is investigating fund diversion and financial irregularities linked to the abrupt closure of FIITJEE coaching centres affecting 12,000 students.

Parents protest outside the FIITJEE Sector 62 campus in Noida on April 13, 2025. (Sunil Ghosh/ HT)
Locations in Delhi and neighbouring Noida and Gurugram, including those of the promoters of the FIITJEE coaching institute, are being searched, the officials said.
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Overview

  • The Enforcement Directorate (ED) conducted searches at eight locations in Delhi-NCR tied to FIITJEE founder Dinesh Kumar Goel and other promoters under the Prevention of Money Laundering Act (PMLA).
  • The investigation stems from complaints by parents alleging that FIITJEE abruptly shut down multiple centres between December 2024 and January 2025 without notice or refunds.
  • Officials allege that FIITJEE's owners diverted ₹12 crore in funds, leaving thousands of students stranded and their academic futures uncertain.
  • Earlier actions include Noida Police freezing ₹11.11 crore across 12 accounts linked to the founder and seizing ₹60 lakh in cash.
  • FIITJEE has denied institutional responsibility for the closures, attributing them to mismanagement by managing partners and accusing rivals of orchestrating a conspiracy.