Ghaziabad, October 16, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) has filed a charge sheet against FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, in a money laundering case involving the alleged misappropriation of students’ coaching fees. The agency has sought their conviction and confiscation of properties worth ₹71.88 crore seized or provisionally attached during the investigation.
The charge sheet was filed on Thursday before a Special Prevention of Money Laundering Act (PMLA) Court in Ghaziabad by the ED’s Lucknow Zonal Office, according to an official statement issued on Friday.
The investigation was initiated on the basis of four FIRs registered by police in Noida and Greater Noida in Uttar Pradesh and Bhopal in Madhya Pradesh. The complaints alleged that FIITJEE collected advance fees ranging from ₹2.8 lakh to ₹3.5 lakh per student for coaching programmes lasting two to four years, including preparation for the Joint Entrance Examination (JEE), but subsequently failed to deliver the promised courses.
According to the ED, faculty members left after their salaries were allegedly withheld, while several coaching centres shut down abruptly without prior notice. The agency further alleged that the management diverted students’ fees and continued enrolling new students despite the departure of teachers.
The ED investigation found that FIITJEE abruptly shut 32 centres between May 2024 and February 2025, affecting 14,411 students who had already paid for coaching. The agency alleged that admissions continued, including for courses scheduled to run until March 2029, despite the management allegedly knowing that the programmes could not be delivered.
The agency has identified ₹85.79 crore in fees allegedly retained and misappropriated as proceeds of crime.
The investigation also found that Dinesh Kumar Goel and Monila Goel received ₹24.92 crore in salaries from the financial year 2022-23 onwards. Dinesh Kumar Goel reportedly drew around ₹56 lakh per month, while Monila Goel received more than ₹25 lakh monthly.
According to the ED, payments to the directors continued even as other employees faced salary delays or non-payment and coaching centres were shutting down.
The agency had conducted searches at seven premises on April 24, 2025, seizing ₹10 lakh in cash and jewellery valued at ₹4.86 crore. It subsequently provisionally attached properties worth ₹66.92 crore on October 9, 2026, under the PMLA.
Separately, Noida Police has filed a charge sheet naming the two directors as accused. The police investigation included statements from around 300 victims, coaching centre operators and other witnesses, along with fee receipts and other evidence.
Further investigation is underway, the ED said.
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