Subsidiary gets unfavourable ruling in an arbitration proceeding
Oracle Financial Services Software announced that in an arbitration proceeding between one of the Company's subsidiaries and one of its vendors, an award has been passed by the Arbitrator against the Company's subsidiary for a sum of about Rs 80.4 crore inclusive of interest. The Company believes the arbitrator erred in his assessment and ruling, and therefore the Company will vigorously defend its position by taking all necessary steps available under law.Powered by Capital Market - Live News