Eco Recycling Limited disclosed the outcome of its Board Meeting held on July 20, 2026, at the company's Registered Office from 11:00 A.M. to 12:00 Noon. The meeting was conducted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Decisions:
1. Formation of Strategic Joint Venture Company:
The Board approved the proposal for formation and formal incorporation of a 50:50 Joint Venture Company in India with Electronic Recyclers International, Inc. (ERI), USA. The JV will pursue commercial opportunities in:
- IT Asset Disposition (ITAD)
- Enterprise recycling
- Circular economy solutions
- Resource recovery
- Secure data destruction
- Allied services
The JV formation is subject to necessary statutory and regulatory approvals.
2. Execution of Definitive Agreements:
The Board approved the final execution text of:
- Shareholders' Agreement (SHA)
- Operating Agreement
to be entered into with ERI, USA. These agreements define:
- Governance framework
- Initial subscription to equity share capital
- Operational ring-fencing
- Board composition
- Respective rights and obligations of both joint venture partners
Detailed JV Particulars (Annexure A):
Parties: Electronic Recyclers International, Inc. (ERI), USA and Eco Recycling Limited ("Ecoreco")
Purpose: Establishing a 50:50 Joint Venture Company in India
Shareholding: 50:50 ratio between ERI and Eco Recycling Limited
Significant Terms:
- New company will be incorporated
- Both parties will subscribe to equity share capital equally
- Board composition: 4 directors total (2 from ERI, 2 from Eco Recycling Limited)
Related Party Status: Not applicable - parties are not related to promoter/promoter group/group companies
Related Party Transaction: Not applicable
Regulatory Compliance: The disclosure is made pursuant to Regulation 30 read with Para A(5) of Part A of Schedule II of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.