Corporate digest
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Raffles Education
RAFFLES Education Corporation Ltd (REC) has been handed a 163.2 million rupee (S$3.5 million) rupee victory by an arbitration tribunal in India for breaches by Indian education services company Educomp of a prior share purchase agreement. As such, REC will not be completing the sale and purchase, it said in a filing on Monday morning.
The suit was launched in September 2015, and was delivered its final award on March 31, 2017.
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