The Enforcement Directorate has filed a prosecution complaint against coaching major FIITJEE Limited and its directors, Dinesh Kumar Goel and Monila Goel, before a special Prevention of Money Laundering Act court in Ghaziabad in connection with an alleged fee misuse case amounting to Rs 85.79 crore. The central probe agency has sought formal penal action against the accused along with the permanent confiscation of attached and seized assets valued at Rs 71.88 crore. According to investigators, 32 FIITJEE coaching centres shut down abruptly between May 2024 and February 2025, stranding 14,411 enrolled students who had remitted advance course fees but were denied the promised classroom coaching.
The anti-money laundering inquiry originates from four police first information reports registered across Uttar Pradesh and Madhya Pradesh. Three cases were initiated by the Uttar Pradesh Police in Noida and Greater Noida, alongside a separate FIR lodged in Bhopal. Complainants reported paying advance sums ranging between Rs 2.80 lakh and Rs 3.50 lakh per student for multi-year competitive training packages aimed at entrance assessments such as the Joint Entrance Examination. Several coaching branches collapsed after faculty members staged mass walkouts over unpaid salaries.
Admissions Continued Despite Looming Branch Closures
The agency determined that the senior administration was aware of severe faculty attrition and an inability to deliver complete syllabi, yet systematically admitted new batches. The ED identified Rs 85.79 crore collected from pupils as proceeds of crime under the PMLA framework, treating this revenue as central to its money laundering allegations. In addition, the company enrolled candidates into batches scheduled to run through March 2029 despite being conscious of its operational incapacity.
A parallel probe conducted by the Noida Police has already yielded a chargesheet against Dinesh Kumar Goel and Monila Goel. That dossier incorporates formal statements recorded from nearly 300 victims, branch coordinators, and witnesses, backed by payment slips and corporate documentation.
Directors Cleared Steep Remuneration During Staff Salary Crisis
Financial verifications revealed that Dinesh Kumar Goel and Monila Goel, who hold an 86.31 per cent controlling stake in FIITJEE through their family, drew Rs 24.92 crore in remuneration from the financial year 2022-23 onwards. The agency stated that this concentrated shareholding allowed both directors to determine their earnings without independent corporate scrutiny.
Dinesh Kumar Goel received a monthly salary of around Rs 56 lakh, while Monila Goel was disbursed over Rs 25 lakh per month. Investigators noted that executive pay was credited regularly even as teachers and lower-level employees endured wage delays. Agency records noted that Monila Goel rarely attended corporate offices, executed payment cheques from home, and drew full compensation while physical branches folded nationwide.
Asset Seizures Lead to Court Confiscation Proceedings
Search operations conducted on April 24, 2025 across seven locations yielded Rs 10 lakh in cash and jewellery worth Rs 4.86 crore. On October 9, 2026, the agency provisionally attached company-linked immovable and movable assets worth Rs 66.92 crore under the PMLA, bringing the aggregate value of targeted properties to Rs 71.88 crore.
With the submission of the prosecution complaint before the Ghaziabad court, legal proceedings will begin against the coaching firm and its promoters. The formal determination of guilt and the final forfeiture of seized assets remain subject to judicial trial.
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