Money Laundering Probe: ED Raids FIITJEE Premises

MULTIPLE TEAMS OF the Enforcement Directorate (ED) conducted raids at the premises of FIITJEE in Delhi-NCR on Thursday, as part of its money laundering investigation against the coaching institute chain — that primarily prepares engineering students for competitive exams — which had recently shut down its centres abruptly, sources in the ED said.

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"The action is being undertaken under the Prevention of Money Laundering Act. Locations in Delhi and neighbouring Noida and Gurugram, including those of the promoters of the coaching institute, are being searched," an officer said.

The case stems from FIRs lodged by Noida and Delhi Police on the complaints of some parents, who had alleged in January that FIITJEE had shut its centres suddenly, leaving their children in the lurch.