The Enforcement Directorate (ED) on Thursday filed a charge sheet against coaching institute FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, alleging that they laundered ₹ 85.79 crore collected as advance fees from students for coaching programmes that were not delivered.
ED’s money laundering case stems from four police FIRs — two each filed by Uttar Pradesh Police in Noida and Madhya Pradesh Police in Bhopal — alleging that the coaching institute collected fees of ₹ 2.8 lakh to ₹ 3.5 lakh per student in advance for two-to-four-year coaching programmes for competitive examinations such as Joint Entrance Examination (JEE) for the IITs on the assurance that the full programme would be delivered. Noida Police had earlier 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.
Dinesh drew about ₹ 56 lakh a month, while Monila received more than ₹ 25 lakh a month, the agency said, adding that the Goel family held 86.31% of the company’s shares, allowing the directors to approve their own remuneration without independent checks.
The central agency’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 the two directors, along with the confiscation of assets worth ₹ 71.88 crore seized or attached during the investigation, ED said in a statement.
ED said further investigation is underway.
