EPACK Durable ends Bumjin Korea joint venture agreement
- Legal
- consumer electronics manufacturing
Reviewed byKeshav SehgalBlacklitt Research
EPACK Durable (NSE: EPACK) has terminated its joint venture agreement with Bumjin Electronics Co., Limited of the Republic of Korea by a Termination Agreement executed on 5 Nov 2026, it said in a filing on 05 Nov 2026. The joint venture was to make TV speakers, soundbars and smart speakers through Bumjin India Audio Products Private Limited.
What the agreement was for and how it ended
The joint venture agreement, dated 24 Jul 2025, was to undertake manufacturing and sale of TV speakers, soundbars, AI speakers, Bluetooth speakers and smart speakers through Bumjin India. The company says the parties mutually agreed to end it, and the termination takes effect from 5 Nov 2026.
The company says Bumjin Korea did not subscribe to any shares of Bumjin India and the joint venture did not proceed as envisaged. Bumjin India, a wholly owned subsidiary of EPACK Durable, has not commenced business operations.
Terms of the exit
The parties confirm that no technology, know-how or intellectual property of Bumjin Korea was transferred to or used by Bumjin India. There are no outstanding payments, dues or claims between them, and each party releases the other from all claims under the agreement. The non-compete and other restrictive covenants do not survive the termination.
The company does not hold any shares of Bumjin Korea.
Next step: strike off of Bumjin India
As the company, as sole shareholder, it will bear the cost of striking off Bumjin India, and Bumjin Korea will extend the necessary cooperation. The company says it is proceeding with the strike off, which was first intimated on 29 Oct 2026.
What the termination means for EPACK Durable's shareholders
The company says the termination has no material impact on its financials or operations, because the joint venture company had not started business. The filing does not say how much capital was committed under the agreement, and it does not give a timeline for completing the strike off of Bumjin India.
The filing is one of several recent disclosures by the company, which also covers the sale of its stakes in EPAVO Electric and a resignation of its chief financial officer, both made on 29 Oct 2026.
At a glance
| Item | Detail |
|---|---|
| Joint venture partner | Bumjin Electronics Co., Limited, Republic of Korea |
| Joint venture company | Bumjin India Audio Products Private Limited |
| Joint venture agreement | 24 Jul 2025 |
| Termination effective | 5 Nov 2026 |
| Company holding in Bumjin India | Wholly owned subsidiary |
| Stated business | TV speakers, soundbars, AI speakers, Bluetooth and smart speakers |
Filed with NSE on . Reference: Original filing (PDF)
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