EPACK Durable ends Bumjin Korea joint venture by mutual consent
- Agreement
- consumer electronics manufacturing
Reviewed byRachit TripathiBlacklitt Research
EPACK Durable (NSE: EPACK) has ended its joint venture agreement with Bumjin Electronics Co., Limited of the Republic of Korea, it said in a filing on 05 Nov 2026. The agreement, dated 24 Jul 2025, covered TV speakers, soundbars and smart speakers through the joint venture company Bumjin India Audio Products Private Limited.
What the termination agreement sets out
The Joint Venture Agreement was ended in its entirety by mutual consent, with effect from 5 Nov 2026, the date of the Termination Agreement. Under that agreement, the parties confirm that no technology, know-how or intellectual property of Bumjin Korea has been transferred to or used by Bumjin India.
Both sides release each other from all claims under the agreement, and no payments or dues are outstanding between them. The non-compete and other restrictive covenants do not survive the termination. The company does not hold any shares of Bumjin Korea.
Bumjin India and the strike-off
Bumjin India was incorporated as the joint venture company, but Bumjin Korea did not subscribe to any of its shares. The company says the joint venture did not proceed as envisaged, and that Bumjin India has not commenced business operations. It remains a wholly owned subsidiary of EPACK Durable.
The company, as sole shareholder, will carry out the strike-off of Bumjin India at its own cost, and Bumjin Korea will give the necessary cooperation. The company had already intimated this on 29 Oct 2026. The filing says the termination has no material impact on the company's financials or operations.
What the termination means for EPACK Durable's shareholders
The company says the termination has no material impact on its financials or operations, and the joint venture had not started operating. The filing does not state how much the company invested in Bumjin India, or whether any regulator's approval is needed for the strike-off. It also does not give a timeline for completing the strike-off.
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 Agreement | 5 Nov 2026 |
| Company holding in Bumjin Korea | None |
| Status of Bumjin India | Wholly owned subsidiary; strike-off in progress |
Filed with BSE on . Reference: Original filing (PDF)
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