In a shocking turn of events, FIIT JEE, one of India’s most prominent coaching institutes, has been embroiled in a massive fraud scandal involving allegations of a ₹2000 crore scam. The institute, known for preparing students for competitive exams like IIT-JEE, has abruptly shut down its centers across multiple cities, including Delhi, Noida, Bhopal, and Lucknow, leaving students and parents in distress. Adding to the controversy, it has been revealed that reporters who first exposed the scandal were offered bribes to suppress the story.
FIIT JEE Closed their Centers in more than 8 cities
Over the past week, FIIT JEE has closed its centers in at least eight cities across North India, including Delhi, Noida, Meerut, Ghaziabad, Lucknow, Varanasi, Bhopal, and Patna. According to its website, FIIT JEE operates 73 coaching centers nationwide, but the sudden shutdown has left thousands of students in the lurch.
The institute’s troubles came to light when journalists from Webdunia exposed its fraudulent practices. Shockingly, it was reported that FIIT JEE attempted to bribe the reporters with lakhs of rupees to remove the damaging story from the website. This revelation has only added to the growing outrage among students and parents.
Allegations of ₹2000 Crore Fraud
FIIT JEE is accused of duping students and parents of over ₹2000 crore in advance fees. In Pune alone, more than 300 FIRs have been filed against the institute. The situation escalated on January 22, when FIIT JEE sent an email announcing its merger with another coaching institute, Aakash. This sudden announcement left students and parents in Noida’s Sector 62 center in a state of panic.
Following complaints from students and parents, the Noida Sector 58 police registered a case against FIIT JEE’s chairman and 12 others. The institute’s abrupt closure and refusal to refund fees have sparked widespread protests, with many demanding accountability and justice.
Financial Downfall of FIIT JEE
Once a leading name in the coaching industry, FIIT JEE’s financial health has deteriorated significantly in recent years. According to a report by Entrackr, the company’s revenue plummeted by 99% in the financial year 2021. Although it reported a revenue of ₹481 crore in FY 2023, it also recorded a loss of ₹71 crore. Data from Tracxn indicates that the company’s size has been shrinking at an annual average rate of 5%.
FIIT JEE’s income primarily comes from educational services and admission fees. In FY 2021, the company generated a total revenue of ₹461 crore, with ₹244.6 crore from educational services and ₹122.5 crore from admission fees. The remaining income was derived from study materials and other sources.
FIIT JEE has been no stranger to controversies. In 2017, its founder, Dinesh Kumar Goel, was named in the Paradise Papers leak, which exposed offshore financial dealings. More recently, in 2022, teaching staff accused the institute of withholding salaries for months. Employees also alleged that Goel used abusive language and mistreated staff, with several audio and video recordings of his alleged misconduct circulating on social media.
Who is Dinesh Kumar Goel, chairman of FIIT JEE?
Dinesh Kumar Goel, the founder and chairman of FIIT JEE, is a mechanical engineering graduate from IIT Delhi. He established the first FIIT JEE center in Delhi in 1992 and expanded the business through a franchise model. Under his leadership, FIIT JEE became a household name, synonymous with success in competitive exams.
However, the institute’s current financial and operational challenges have raised serious questions about its credibility. Goel’s alleged involvement in unethical practices and the institute’s inability to manage its finances have further damaged its reputation.
Students and Parents Hope for return their Money
The sudden closure of FIIT JEE centers has left students and parents in a state of uncertainty. Many had paid lakhs of rupees in advance fees, hoping for quality coaching and guidance. With the centers shut and no refunds in sight, parents are struggling to find alternative options for their children.
“We trusted FIIT JEE with our child’s future, and now we feel cheated,” said a parent from Noida. “The institute took our money and left us in the dark. We demand accountability and a refund of our hard-earned money.”
Hundreds of FIRs have been registered against the institute
As the scandal unfolds, legal action is being taken against FIIT JEE and its officials. Hundreds of FIRs have been filed across the country, and investigations are underway. Meanwhile, students and parents are organizing protests and seeking support from local authorities to ensure justice.
The FIIT JEE scandal has exposed the darker side of India’s coaching industry, where financial mismanagement and unethical practices often go unchecked. As the institute faces mounting legal and financial challenges, its future remains uncertain.
For now, the focus remains on the thousands of students whose dreams have been disrupted and the parents who trusted FIIT JEE with their children’s futures. The scandal serves as a stark reminder of the need for greater transparency and accountability in the education sector.
