FIITJEE Denies Financial Irregularities, Calls Allegations a Conspiracy by Competitors

Coaching institute FIITJEE has strongly refuted allegations of financial irregularities, terming the ongoing investigations by the Enforcement Directorate (ED) and police as part of a “conspiracy” orchestrated by its competitors.

In a statement issued on Wednesday, the IIT entrance preparation giant claimed that the accusations against the organisation and its promoters were “baseless” and driven by rival interests in the education sector. The company said the enforcement actions were based on unfounded complaints and assumptions.

The ED had conducted multi-city raids on April 24 at the offices and residences of FIITJEE’s founder chairman and director D K Goel, along with other top executives. The searches were carried out in connection with a money laundering probe stemming from multiple FIRs filed by parents in Delhi, Uttar Pradesh, and Madhya Pradesh.

According to the ED, FIITJEE allegedly collected over ₹200 crore in fees from thousands of students but failed to provide the promised educational services. The agency claimed the irregularities pointed to potential fund siphoning and serious financial misconduct.

FIITJEE, however, has dismissed these claims as unfounded. “We believe this is a targeted campaign to malign our reputation and mislead the public,” the institute said, vowing to cooperate fully with the investigation and prove its innocence.