ED charges FIITJEE coaching institute, directors in money laundering case

The Enforcement Directorate (ED) on Thursday filed a charge sheet against FIITJEE Limited, one of India's largest coaching institutes for engineering entrance examinations, along with its directors Dinesh Kumar Goel and Monila Goel. The federal financial crime agency has alleged that the accused engaged in money laundering activities amounting to ₹85 crore, primarily through questionable fee collection from students.

According to the ED's investigation, FIITJEE allegedly collected fees from students in violation of regulatory guidelines, subsequently layering these funds through various financial channels. The probe suggests that the institute's fee structure and collection mechanisms were designed to circumvent regulatory oversight and generate unaccounted income.

The charge sheet represents a significant escalation in the case against FIITJEE, which has maintained multiple centres across India. The ED's action comes amid growing scrutiny of coaching institutes' financial practices and fee structures, particularly regarding transparency and compliance with educational regulations.

The filing of the charge sheet marks the conclusion of the ED's investigation phase and initiates formal legal proceedings. The agency will now pursue the matter through appropriate judicial channels for further prosecution of the allegations.