ED seeks ₹71.88 crore confiscation in FIITJEE fee misappropriation case

The Directorate of Enforcement (ED) filed a prosecution complaint against FIITJEE Ltd and its directors for money laundering related to the misappropriation of student fees, seeking their conviction and the confiscation of assets worth Rs. 71.88 crore.

Who it concerns: M/s FIITJEE Limited, directors Dinesh Kumar Goel and Monila Goel, the Special PMLA Court in Ghaziabad, and approximately 14,411 enrolled students who paid fees for coaching programmes.

What the ED says it did

• ED filed a Prosecution Complaint on 15.10.2026 before the Special PMLA Court, Ghaziabad.
• ED seeks conviction of FIITJEE Ltd and its directors for money laundering under PMLA, 2002.
• ED seeks confiscation of properties worth Rs. 71.88 crore that were seized and provisionally attached.
• The investigation is based on four FIRs registered by UP Police (Noida/Greater Noida) and MP Police (Bhopal) for offences including cheating and criminal conspiracy.
• It is alleged that FIITJEE collected advance fees of Rs. 2.8 lakh to Rs. 3.5 lakh per student for 2-4 year coaching programmes but failed to deliver due to faculty leaving over unpaid salaries.
• FIITJEE closed 32 centres between May 2024 and February 2025, leaving 14,411 students without services.
• The company continued to admit students for programmes up to March 2029 despite knowing it could not deliver them.
• The misappropriated fees are quantified at Rs. 85.79 Crore, determined as Proceeds of Crime.
• Directors Dinesh Kumar Goel and Monila Goel are alleged to have drawn Rs. 24.92 Crore in salaries from FY 2022-23 onwards while the company was in deficit.
• Dinesh Kumar Goel is alleged to have drawn about Rs. 56 lakh per month, and Monila Goel more than Rs. 25 lakh per month.
• ED conducted searches on 24.04.2025, seizing Rs. 10 lakh in cash and jewellery worth Rs. 4.86 Crore.
• ED provisionally attached properties worth Rs. 66.92 Crore on 09.10.2026.

Also in the document

• The Goel family holds 86.31% of the shares in FIITJEE Ltd.
• Monila Goel admitted to not attending office regularly and only signing cheques from home, yet continued to receive payments.
• The charge-sheet filed by Noida Police is based on statements from about 300 victims and other witnesses.
• Further investigation by ED is currently under progress.