FIITJEE Fraud: Allegations of ₹2,000 Crore Scam Shake Coaching Industry

FIITJEE Fraud: once a renowned name in coaching for competitive exams, is now at the center of a massive financial fraud controversy. The institute has allegedly defrauded students and parents of over ₹2,000 crore, leading to FIRs across multiple cities. Recent closures of its centers in Delhi, Noida, Bhopal, and other cities have left students and their families in distress.
Abrupt Center Closures Across India
FIITJEE reportedly shut down centers in at least eight cities within a week, including Delhi, Noida, Meerut, Lucknow, Varanasi, Bhopal, and Patna. Parents claim that the institute has not refunded advance fees collected from students. In Pune alone, 300 FIRs have been registered, and Noida police have filed a case against the chairman and 12 others following complaints from Sector 62 students.
FIITJEE’s Financial Decline
Once a leading coaching institute, FIITJEE has faced a sharp financial decline. Reports suggest its revenue dropped by 99% in FY21. Despite earning ₹481 crore in FY23, the company recorded a loss of ₹71 crore. The institute’s annual revenue is shrinking at a 5% compound annual growth rate (CAGR), raising questions about its financial health.
FIITJEE’s primary income sources include
Educational Services: ₹244.6 crore in FY21
Admission Fees: ₹122.5 crore
Other Sources: Study materials and auxiliary services
Controversies Surrounding FIITJEE
Paradise Papers (2017): FIITJEE founder D.K. Goyal was named in the Paradise Papers for alleged financial misdoings.
Staff Allegations: In 2022, teaching staff accused the management of unpaid salaries and harassment. Recordings of alleged misconduct by D.K. Goyal also surfaced online.
Merger with Aakash Institutes Raises Questions
On January 22, 2025, FIITJEE announced via email its merger with Aakash Institutes. The sudden decision left many students uncertain about their future, sparking legal complaints and media scrutiny.
What Lies Ahead for FIITJEE?
Founded in 1992 by IIT Delhi alumnus D.K. Goyal, FIITJEE was a trailblazer in competitive exam coaching. However, the current allegations and financial troubles have tarnished its reputation, leaving its legacy in jeopardy.