In a Judgment issued on 6 April 2023, the General Division of the Singapore High Court ordered Educomp founder Shantanu Prakash and Singaporean lawyer Dennis Lui to pay damages totaling S$2.9million plus interest to Raffles Education Group entities (“Raffles Entities”). Among other things, the Court found that the two individuals conspired to injure the Raffles Entities through the making of fraudulent misrepresentations aimed at inducing the Raffles Entities to take substantial investment steps in respect of their business interests in the Indian education sector.
Separate claims mounted by the Raffles Entities for fraudulent misrepresentation and the tort of inducing breaches of contract also saw success.
Hearty congratulations to the team who acted for the successful Raffles Entities, led by our Deputy Head of Commercial & Corporate Disputes Wendy Lin, Partner Monica Chong Wan Yee and Senior Associate Ho Yi Jie. The full judgment, a culmination of 16 trial days over which 10 witnesses took the stand and were cross-examined, can be accessed here.
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