FIITJEE founder's accounts frozen, police seize Rs 11.11 crore

Noida police have taken strict action against FIITJEE, the well-known IIT coaching institute, following its sudden closures across multiple cities. Authorities have seized Rs 11.11 crore from 12 bank accounts linked to FIITJEE founder Dinesh Goyal as part of an ongoing investigation.

The crackdown, led by the Knowledge Park police and the cybercrime team, revealed that Goyal had 172 current accounts and 12 savings accounts. The police are now scrutinising these accounts for potential financial irregularities.

FIITJEE’s unexpected shutdown has left thousands of students stranded, sparking legal complaints from parents. Many had paid large sums in advance and are now demanding refunds. In Noida, a parent has already filed an FIR against Goyal, citing non-refundable fees.

Meanwhile, in Ghaziabad, an FIR was lodged against senior officials of a FIITJEE centre that shut down without notice, affecting around 800 students. Investigations are going on, and more complaints are expected.

The coaching institute has cited ‘force majeure’ as the reason for its closures, but with police now actively involved, the case is taking a serious legal turn. In late January, FIITJEE abruptly closed several centres across India. The primary reason appeared to be a dispute between FIITJEE's faculty and management over unpaid salaries, leading to mass resignations.

At the time, FIITJEE cited 'force majeure' as the reason for the closures and claimed efforts were underway to resume operations. The institute also alleged that competitors were involved in faculty poaching and denied claims that teachers resigned over unpaid salaries. As the investigation continues, affected students and parents are left hoping for a swift resolution to this crisis.