The Enforcement Directorate (ED) has filed a charge sheet against coaching institute FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, alleging money laundering involving ₹85.79 crore collected as advance fees from students for coaching programmes that were not delivered.
The ED’s Lucknow zonal office filed the prosecution complaint before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad, seeking the conviction of the company and its directors. The agency has also sought confiscation of assets worth ₹71.88 crore seized or attached during the investigation.
The money laundering investigation stems from four police FIRs, including two registered by Uttar Pradesh Police in Noida and two by Madhya Pradesh Police in Bhopal. The complaints alleged that FIITJEE collected advance fees ranging from ₹2.8 lakh to ₹3.5 lakh per student for two-to-four-year coaching programmes for competitive examinations, including the Joint Entrance Examination (JEE), with assurances that the courses would be delivered in full.
According to the ED, faculty members left after their salaries remained unpaid, and coaching centres shut down abruptly without prior notice.
The agency alleged that FIITJEE closed 32 centres across Uttar Pradesh and Madhya Pradesh between May 2024 and February 2025, leaving 14,411 enrolled students without the coaching services they had paid for. Despite the closures and faculty departures, the company allegedly continued enrolling students in programmes scheduled to run until March 2029.
The ED further claimed that the fees collected from students were spent while the company continued to operate at a deficit.
Directors allegedly received ₹24.92 crore in salaries
The ED alleged that Dinesh Kumar Goel and Monila Goel collectively received ₹24.92 crore in salaries from the financial year 2022-23 onwards, even as employee salaries were delayed or remained unpaid.
According to the agency, Dinesh received approximately ₹56 lakh per month, while Monila earned more than ₹25 lakh per month. The ED said the Goel family held 86.31% of the company’s shares, enabling the directors to approve their remuneration without independent checks.
The agency also stated that Monila told investigators she did not attend the office regularly and signed cheques from home. Payments to her allegedly continued even as coaching centres were shutting down.
Noida Police had previously filed a charge sheet naming both directors as accused, based on statements from around 300 victims, coaching centre operators and other witnesses, along with fee receipts and other evidence, the ED said.
Searches and asset attachments
On April 24, 2025, the ED searched seven premises and seized ₹10 lakh in cash and jewellery valued at ₹4.86 crore.
The agency subsequently provisionally attached properties worth ₹66.92 crore on October 9, 2026, under the PMLA. The total value of assets the ED has sought to confiscate stands at ₹71.88 crore, according to its statement.
Attempts to contact FIITJEE through a telephone number listed on its website were unsuccessful, as the number was found to be non-existent.
The ED said further investigation into the alleged money laundering is underway.
