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Nirmal Bang Report
We have revised our earnings estimates for Triveni Turbine Ltd. to account for the settlement agreement signed by the company with regard to the affairs of GE Triveni Ltd., a joint venture between Triveni Turbine, D.I. Netherlands B.V. and Baker Hughes and its affiliates (BH Parties).
During the course of the business, certain disputes arose between the JV partners, resulting in the filing of litigations, which were pending with different legal forums for the last two years.
With a view to resolve these disputes and differences, the JV parties have mutually agreed to settle the disputes amicably and have entered into a settlement agreement on September 06, 2021.
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