REC clarifies reports regarding charges filed over India dispute

MAINBOARD-LISTED Raffles Education Corporation (REC) on Wednesday (Apr 20) sought to clarify media reports regarding a charge sheet filed against the company over its dispute in India.

In a bourse filing, REC noted an article that said the Delhi Police's Economic Offences Wing (EOW) had filed a charge sheet against its directors and top management, over its dispute with Educomp Group and Jai Radha Raman Education Society.

The article had also noted allegedly attempts by an REC unit to grab the education society's land and buildings in India, as well as a supposed "criminal conspiracy" to defame Educomp Group, through forged evidence and documents.