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Noida Police have frozen more than 300 FIITJEE-linked accounts and seized Rs 60 lakh in cash, as FIITJEE owner Dinesh Goyal and eight others face allegations of financial misconduct.
Over 300 bank accounts linked to FIITJEE centre frozen.
In a major development, the Noida Police have frozen over 300 bank accounts linked to the FIITJEE coaching centre and seized Rs 60 lakh in cash. The investigation follows a case filed against FIITJEE owner Dinesh Goyal and eight others for alleged financial misconduct, including criminal breach of trust and criminal conspiracy.
“More such accounts are being discovered and we are waiting for their details. FIITJEE owner Dinesh Goyal has been summoned for a statement, and the statements of 31 former teachers will also be recorded. We have already taken statements from 250 parents. The case has been filed under serious charges of criminal breach of trust and criminal conspiracy, and the Sector 58 police station is investigating the entire matter,” said Ram Badan Singh, DCP, Noida.
The case came to light in late January when multiple FIITJEE centres in Ghaziabad’s Raj Nagar, Noida’s Sector 62, and Greater Noida suddenly shut down, leaving hundreds of students stranded just before their exams. The authorities registered cases against the centre owners. After the first closure in Ghaziabad, four people were named in an FIR. In Noida, an FIR was filed on January 24, accusing nine FIITJEE officials of criminal breach of trust and criminal conspiracy. A similar case was filed in Greater Noida against four people at the Knowledge Park police station.
On January 25, FIITJEE stated the closure of several centres across Delhi-NCR. The institute said the shutdowns were caused by “mismanagement and desertion” by the managing partners and announced plans to take legal action against competitors for allegedly poaching its faculty.
FIITJEE stated, “FIITJEE has not closed any centre as part of its own decision. Overnight desertion of the centre by the centre managing partner, along with the entire team, is the only reason for this force majeure type of condition.” The institute added, “The present turmoil in the institution is temporary. Company officials are working to resume operations at all places within a reasonable time.”
FIITJEE also denied claims that many teachers left due to non-payment of salaries and instead blamed “a criminal conspiracy hatched by people with vested interests.”
“Our legal team is taking appropriate action against the malicious prosecutions lodged against us,” it said.
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The institute claimed it was a “victim of exploitation” by the managing partners, which worsened its financial condition. FIITJEE also accused its competitors of using unfair practices.
“We are also going to take strict legal action against the unfair trade practices adopted by our competitors before civil and criminal courts,” it said.
FIITJEE assured students and parents that the situation was temporary and efforts were being made to stabilize operations. It also promised that studies would continue without disruption.
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