Police freeze ₹11 crore deposited in 12 banks of FIITJEE

During the investigation, police identified 172 current bank accounts and 12 savings bank accounts associated with FIITJEE and managed to freeze over ₹11 crore with the banks’ help

Greater Noida: Over ₹11 crore deposited in 12 bank accounts of FIITJEE were frozen by Greater Noida police after parents approached the Knowledge Park police, filing a complaint against the coaching institute over shutting down without any prior information, said officers on Monday.

New Delhi, India - May 26, 2018: A general view of IIT Metro station displaying the name of Fiitkee along with it at IIT in New Delhi, India, on Saturday, May 26, 2018. (Photo by Sanchit Khanna/ Hindustan Times) (Sanchit Khanna/HT PHOTO)

“During the investigation, we identified 172 current bank accounts and 12 savings bank accounts associated with FIITJEE. After sending an official letter to the banks, we managed to freeze ₹111,112,987 ( ₹11.1 million),” said Ashok Kumar, additional deputy commissioner of police, Greater Noida.

“We are gathering details of the deposited money in the 172 bank accounts, and further investigation is underway to freeze more funds,” he added.

On January 24, the Knowledge Park police registered a case under sections 318(4) (cheating) and 316(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita after Manoj Singh, 39, a resident of Omega 2 in Greater Noida, approached the police along with other parents against FIITJEE.

Police booked FIITJEE founder DK Goyal, chief financial officer Rajiv Babbar, chief operating officer Manish Anand, and branch head Ramesh Batlish.

Notably, a similar FIR was registered against the founder and eight others at Sector 58 police station in Noida after FIITJEE, Sector 62 centre shut down on January 22. Since then, police have identified 384 bank accounts associated with FIITJEE in Noida and freezed more than ₹2 crore.

In the FIR, parents said: “We would like to inform that after taking all the money of parents and promising good future for the children, all the mentioned accused have manipulated the whole amount of parents and without informing any of the parents.”