What the board approved
At its meeting on July 20, 2026, the board of Eco Recycling Limited approved the formation and formal incorporation of a joint venture company in India with Electronic Recyclers International, Inc. (ERI) of the USA, to be held equally by the two partners.
The board also approved the final execution text of the Shareholders' Agreement and the Operating Agreement to be entered into with ERI. Per the filing, these documents define the governance framework, the initial subscription to equity share capital, operational ring-fencing, board composition, and each partner's rights and obligations.
Scope and governance
The joint venture is intended to pursue commercial opportunities in IT Asset Disposition (ITAD), enterprise recycling, circular-economy solutions, resource recovery, secure data destruction, and allied services.
On governance, both partners will subscribe to the equity share capital equally, and the new company's board is to comprise directors nominated by each side. The agreements carry special rights including the ability to appoint directors, a first right on share subscription in the event of new issuance, and the right to restrict changes in the capital structure. The company noted the venture remains subject to the necessary statutory and regulatory approvals.
What the filing does not state
The filing sets out the venture's structure and governance but does not disclose the capital to be committed, a timeline for incorporation, or projected financials. It states that ERI is not related to the promoter or promoter group, and that the arrangement does not fall within related-party transactions.