Board approves formation of a joint venture with Cleanhill Partners in the United States

The Board of Marsons Limited has approved the formation of a joint venture with Cleanhill Partners.

Tue 6 Oct 2026

JV Partner

Cleanhill Partners

JV Location

limited liability company to be formed in the United States

JV Purpose

import, market, sell, distribute and service Marsons transformers in the United States and Canada

The Board of Directors of Marsons Limited met on Tuesday, 6th October 2026 and approved the formation of a joint venture with Cleanhill Partners.

What the Board approved

• The formation of a joint venture between Cleanhill Partners and Marsons Limited, in the form of a limited liability company to be formed in the United States.
• The authorisation of Mr. Harshvardhan Kotia, CEO of the Company, as the authorised signatory to negotiate, finalise and execute the Joint Venture Agreement and all other related documents, and to take all necessary decisions and complete the required formalities.

What the joint venture is meant to do

• Import, market, sell, distribute and service Marsons transformers in the United States and Canada.
• In due course, manufacture transformers for the United States and Canada markets.

A joint venture, in simple terms, is an arrangement where two parties set up a new business entity together to carry out a defined activity. Here, the new entity is proposed as a limited liability company in the United States, and the business it is meant to handle is Marsons transformers in the United States and Canada.

The condition attached

The Board's approval is subject to execution of the Joint Venture Agreement and receipt of necessary approvals, if any. In other words, the plan has been cleared at the Board level, and the venture moves forward once the agreement is signed and any approvals required come through. The authorisation given to the CEO covers negotiating and finalising that agreement and the related documents.

How to read this

For a retail reader, the key point is that this is a board-level approval of a business plan, not a completed transaction. The update sets out what the venture is intended to do and who will take the paperwork forward, and it records the condition that the agreement must be executed and necessary approvals, if any, received.

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