FIITJEE Controversy: The management has broken its silence regarding the famous FIITJEE coaching center which was closed overnight. The administration has issued a 13-point statement that may provide some relief to parents and students who have paid lakhs in advance fees. Because for the past few days, students and parents were pleading for justice outside the suddenly closed FIITJEE coaching center. Now FIITJEE has assured all students and parents that their education and future will be given priority. The agency said that the problem is temporary and the situation will return to normal soon.
Parents say that the coaching center has been suddenly locked without notice and no one is ready to respond. The coaching center management was not even responding to media queries. Now the FIITJEE media management team has released an official statement. What did the team say in the statement? It’s like this-
1. The decision to close the coaching center is not FIITJEE’s.
FIITJEE has not closed any coaching center with its decision. The situation has arisen due to the sudden resignation of the center’s managing partner and the entire team. This issue is temporary, and the company is working to restart all centers as soon as possible.
2. Prosecution of charges
As far as the criminal cases filed against FIITJEE are concerned, our legal team is taking appropriate action against the malicious cases filed against us.
3. Possibility of conspiracy
This whole situation could be part of a criminal conspiracy hatched by selfish elements. The truth will come out soon because the truth cannot be hidden forever.
4. Legal action against competitors
FIITJEE will take strict legal action in civil and criminal courts against unfair trade practices adopted by its competitors.
5. Appeal to the media
The media is requested to go into the depth of this matter and bring out the truth in the larger interest of the society.
6. Appeal to students
FIITJEE has a very strong system that gives results. Our results are enviable to every other coaching institute. The consistency in FIITJEE results has disappointed all our competitors. We appeal to every student to keep faith and not fall prey to any misleading tactics. When students join FIITJEE, they join FIITJEE not for a particular teacher but for his system and legacy. We want to ensure that their studies continue in such a way that they perform at their best. Irrespective of the work of the center team and management fellow, they should focus only on their studies. FIITJEE has been giving outstanding results in JEE Main, JEE Advanced, NTSE and Olympiads in India for the last 28 years. And so it will continue to be. FIITJEE’s commitment to your success is unwavering.
7. Center management responsibility
The managing partners of each center are responsible for revenue, strategy, operations and administration. The corporate office in Delhi cooperates according to their suggestions.
8. Role of Managing Partners
Since 2011, FIITJEE is managed by a core group consisting of Senior Partners, National Head (Academic Operations) and CFO. He consulted with National Head of Academic Operations and CFO from time to time. National Heads of Academic Operations and CFOs became permanent and permanent members of this core group from 2014-15. The National Head of Academic Operations has been designated as the COO from September 2020.
9. Effect on Financial Position
After the financial condition worsened in 2024, the company asked the core group and management partners to take corrective action. However, some partners took advantage of this and disrupted the normal work. They have been receiving regular MIS through email since 2014-15. This forced the corporate management to confiscate the entire collection, causing huge losses. In the interest of the students, the company had to bow down to their demands. Any ethical business partner will not only grow significantly financially but also help FIITJEE carry forward its “Mission, Vision and Value System”. DK Goyal, the founder of FIITJEE, wanted to make coaching an alternative school that would truly serve society.
10. The situation worsened.
Due to the mismanagement of the managing partners, the financial condition of FIITJEE deteriorated in January 2024. The group CFO predicted that after 6 months the company could face an operating cash crunch. In February 2024, the company briefed the core group as well as all management partners and asked them to take necessary steps to improve the surplus workforce, improve work culture and recovery strategy. So that their respective centers can start working without any loss. This was done through recorded Zoom meetings and written communication. Most of the managing partners took no action. In fact, this situation was even exploited by some of the management partners to gain undue advantage. Instead of working on appropriate adaptations, they blocked access and disrupted normal processes. This further exacerbated the financial crisis.
11. Centers supported despite losses.
FIITJEE center level work has been running smoothly since 2003. Our corporate level professionals always take decisions keeping in mind the interest of the students. And that is why, despite the losses over the past several years, we have continued to support the centers as advised by the center teams.
12. Believe in honesty, transparency and commitment
FIITJEE believes in “Truthfulness, Transparency and Commitment” and if you require any document or details or want to verify any document in relation to any FIITJEE Center or otherwise, please let us know so that you It can be made available as soon as possible. . You can also appoint a Chartered Accountant to look into the affairs of any center and we are sure that we will not only be found innocent but you will also realize that we are suffering along with the students and parents. .
13. Be prepared to talk more with the media.
FIITJEE is the only company in the education sector to have reputed (top 10 in India) concurrent auditors as well as statutory auditors. It ensures that the company’s accounts are 100% ethical and compliant with the laws of the country. If necessary, our COO and CFO are available to speak further with the media.
If necessary, our COO and Group CFO will also be willing to engage further with the media via email. You can email conspiracy-response@fiitjee.com.
