Noida Police books 12 FIITJEE officers, institute blames managing companions for monetary turmoil

The dad and mom of youngsters enrolled with FIITJEE claimed it collected substantial charges however did not fulfil its dedication. A social media group fashioned by these affected has already garnered 257 members, a lot of whom are demanding pressing motion.

A Delhi Police officer mentioned they’d launched an investigation within the matter.

The abrupt closure of FIITJEE centres has left many college students and their dad and mom, who’ve paid charges operating into lakhs of rupees, within the lurch.

The institute, nonetheless, mentioned in a press release, “FIITJEE has not closed any centre as a part of its personal resolution. In a single day desertion of the centre by the centre managing accomplice, together with the complete crew, is the one motive for this drive majeure kind of situation.”

“The current turmoil within the establishment is short-term. Firm officers are working to renew operations in any respect locations inside an inexpensive time,” it added.

FIITJEE denied allegations that many academics left due to non-payment of salaries for months and attributed the state of affairs to “a felony conspiracy hatched by folks with vested pursuits”.

“Our authorized crew is taking applicable motion in opposition to the malicious prosecutions lodged in opposition to us,” it mentioned.

The institute alleged that it was a “sufferer of exploitation” by managing companions.

“Owing to mismanagement and exploitation by managing companions, FIITJEE’s monetary state of affairs worsened in January 2024. The group CFO (chief monetary officer) forecast that after six months, the corporate would possibly run into an operational money crunch,” it mentioned.

Highlighting the steps taken to handle the state of affairs, FIITJEE mentioned, “In February 2024, the corporate questioned the core group in addition to all managing companions and informed them to optimise the surplus manpower, enhance work tradition, and clearly define the technique for bouncing again from the state of affairs.”