ED Raids FIITJEE Centers in Delhi-NCR Over Money Laundering Allegations.
Delhi News: The prominent coaching institute, FIITJEE, is embroiled in a major controversy. The Enforcement Directorate (ED) conducted raids at several locations in Delhi-NCR on Thursday, investigating allegations of money laundering. These actions were taken under the Prevention of Money Laundering Act (PMLA).
What is the Case?
FIITJEE is accused of collecting fees from students without providing coaching services and abruptly closing several centers without notice. In January, several parents filed police complaints alleging that the institute collected fees but neither provided education nor refunded the money.
Locations of the Raids
The ED conducted searches at the premises of FIITJEE promoters and associated individuals in several cities, including Gurugram, Noida, and Delhi. Investigating agencies suspect irregularities in the institute's funds and the misappropriation of money.
FIITJEE's Response
FIITJEE issued a statement claiming that the closure of centers was not voluntary but resulted from the sudden departure of Center Management Partners (CMPs). They attributed this to "Force Majeure," or uncontrollable circumstances.
Institute Profile
Established in 1992, FIITJEE is one of India's leading engineering entrance coaching institutes. It operates nearly 100 study centers across the country and is known for its JEE exam preparation courses. However, it has recently faced operational difficulties.
