Two days after the attack on the premises of the Coaching Institute Fiitjee, the Directorate for Recognition of Law (ED) stated that the organization had gathered £ £200 crore from more than 14,000 students as fees for educational services, but did not provide them.
The findings of ED suggest “serious” financial discrepancies and siphoning of funds.
Ed probe on Fiitjee found that the coaching institute gathered around £250.2 Crore from a total of 14,411 students for four academic sessions between 2025-26 to 2028-29.
“From students who are currently operating benefits, Fiit-Jee under the pretext of providing educational services that were not finally delivered were collected considerable amounts,” Federal Sonda said.
Fiitjee probe: What did ED say?
According to ED accused, the funds collected from students were siphoned for personal and unauthorized use, while the salaries of the faculty remained unpaid.
For this reason, 32 coaching centers across Ghaziabad, Lucknow, Meerut, Noida, Bhopal, Gwalior, Indor, Faridabad and Grrogram, as well as offices in Delhi and Mumbai, saw sudden deviations. As a result, about 15,000 students were left in need, Ed said.
The federal probe added that during the search it confiscated “incriminating” documents and digital devices indicating “serious” financial discrepancies and preliminary analysis of these materials indicates the “systematic” scheme of the “siphon” of the funds.
Ed raids on fiitjee
24th April, the Directorate for enforcement of the right of extensive searches in multiple Fiitjee in Delhi-NCR. The raids covered the premises, including the premises of the Fiit Jee DK Goel, other company executives and their offices.
In a statement later on that day, Ed said the federal agency had confiscated £10 Lakh in cash from Fiitjee and £4.89 crore worth gold.
The raids covered seven spaces in Noida, Delhi and Grrabogram.
The ED case, submitted under the Money Laundering Act (PMLA), comes from more police fir registered by the parents of students and applicants for IIT in Noida, Lucknow, Dill, Bhopal and some other cities.
These companies argued that the top management of Fiit Jee gathered from students and parents a “substantial” fee under the pretext of providing quality educational services, but instead dealt with “extensive” financial fraud, criminal violations of trust and educational deficiency by not providing promised educational services.
(Tagstotranslate) ed
