Eco Recycling Ltd (Ecoreco), India's pioneer in e-waste management and resource recovery, has enthusiastically welcomed the Union Cabinet's approval of a ₹1,500 crore incentive scheme under the National Critical Mineral Mission. The scheme aims to promote advanced recycling of e-waste, lithium-ion battery scrap, and other end-of-life resources, marking a significant step towards building a sustainable and globally competitive recycling ecosystem in India.

Key Features of the Scheme

The government's initiative includes several important components:

• Capital expenditure support (Capex)
• Operational incentives (Opex)
• Dedicated allocation for startups and MSMEs
• 20% capital subsidy and phased operational support
• Target of 40,000 tonnes of critical mineral recovery in India
• One-third of the scheme earmarked for new entrants

Management's Perspective

B. K. Soni, Chairman & Managing Director of Eco Recycling Ltd, expressed his views on this development: "This is a defining moment for India's circular economy. For years, we have advocated that e-waste and lithium-ion battery scrap must be recognized as strategic secondary resources for critical minerals. I am proud that several of our inputs have been reflected in this scheme, which will accelerate investment, create thousands of green jobs, and strengthen India's self-reliance in critical mineral supply chains."

Implications for the Industry and Ecoreco

The scheme is expected to have far-reaching implications for the recycling industry:

1. Enhanced Returns: The 20% capital subsidy and operational support are likely to make recycling projects more attractive to stakeholders.
2. Market Potential: With India targeting 40,000 tonnes of critical mineral recovery, there's significant potential for unlocking hidden wealth in e-waste.
3. Collaboration Opportunities: The allocation for new entrants encourages joint ventures and technology partnerships in the sector.
4. Ecoreco's Advantage: As India's first organized e-waste recycler, Ecoreco is well-positioned to leverage this opportunity, scale operations, and lead best practices in the mineral recovery sector.

Future Outlook

Eco Recycling Ltd views this development as aligned with its long-term strategy of advancing circular economy infrastructure. The company plans to explore opportunities under the scheme to maximize value for its stakeholders while reinforcing its leadership in sustainable recycling.

The government's initiative is expected to accelerate investment in the sector, create green jobs, and strengthen India's critical mineral supply chains. For Ecoreco and other players in the industry, this scheme represents a significant opportunity to contribute to India's self-reliance in critical minerals while promoting sustainable practices in e-waste management.

Eco Recycling Limited (ECORECO), a prominent player in the e-waste recycling industry, has announced significant changes to its leadership and compliance team. The company's Board of Directors has approved key appointments that are set to strengthen its governance structure and environmental expertise.

New Independent Director Brings Environmental Expertise

Dr. Yeshwant Sontakke has been appointed as an Additional Director in the capacity of a Non-Executive, Independent Director for a five-year term, subject to shareholder approval. Dr. Sontakke's appointment, effective from August 26, 2025, brings a wealth of experience in environmental protection to ECORECO's board.

With a Ph.D. in Environmental Toxicology and over 27 years of experience in environmental pollution control, Dr. Sontakke is expected to provide valuable insights to the company's operations. His background includes serving as Joint Director at the Maharashtra Pollution Control Board's (MPCB) Water Pollution Control Division, which aligns well with ECORECO's focus on sustainable e-waste management.

New Secretarial Auditor Appointed

In a move to enhance its compliance framework, ECORECO has appointed CS Neha Poddar as the new Secretarial Auditor for a five-year term, starting from the financial year 2025-26 to 2029-30. This appointment is also subject to shareholder approval at the upcoming Annual General Meeting.

CS Poddar, a practicing company secretary from Kolkata, brings over a decade of experience in corporate laws, SEBI regulations, and compliance services. Her expertise spans across sectors including banking, financial services, and infrastructure, making her well-equipped to handle ECORECO's secretarial audit requirements.

Changes in Secretarial Audit

The appointment of CS Poddar follows the resignation of M/s KPUB & Co., the previous Secretarial Auditor. KPUB & Co. cited pre-occupations in other assignments as the reason for their departure, effective August 26, 2025.

Upcoming Annual General Meeting

ECORECO has scheduled its 31st Annual General Meeting (AGM) for September 30, 2025, at 1:00 p.m. IST. The AGM will be conducted through video conference or other audio-visual means, ensuring shareholder participation while adhering to potential health and safety guidelines.

Compliance with Regulatory Requirements

The company has confirmed that Dr. Sontakke has not been debarred from holding the office of Director by SEBI or any other authority, ensuring compliance with listing regulations. This transparency in appointments underscores ECORECO's commitment to good corporate governance practices.

These strategic appointments and changes come at a time when environmental concerns and corporate governance are increasingly in focus. With its strengthened leadership and compliance team, Eco Recycling Limited appears well-positioned to navigate the evolving landscape of e-waste management and corporate responsibilities in the coming years.