The conflict between Indian Super League outfit East Bengal SC and Shree cement, because of the documentation has been going on for a while. But on Tuesday East Bengal have finally responded to the letter from the investors. They signed the “definitive document” and finally their pending issues were resolved.
The investors had sent an email on May 12, seeking their final decision on the agreement. In their response club responded by saying “we are in the process of issuing a document to clarify the points which are inconsistent/incorrect as per term sheet”.
The board of the club hoped that investors would do whatever is needed to continue ISL participation. The president of the club Pranab Dasgupta sent a personal letter to the Investors. Pranab wrote to the managing director of Shree cement. he said, “I am ready and willing to meet you personally. to discuss and to do the needful, please advise a date and time convenient to you”.
After that, a Shree cement official confirmed receiving the letter. But added that without a final agreement there would be “no further investment”. Being asked about the letters, the senior official of the club Debabrata Sarkar said: “I am quite sure we will have a very good football team this season. because the investors have not communicated that they are not making the team. I have full faith in Mr Bangur”.
Shree Cement’s response on the scenario
Investors Shree cement were not in the mood to listen to any of the conditions. They clarified that they have received the letters from the club. But as per their terms, the points have been very clear- Shree cement won’t take any further step unless the final agreement is signed. No further investment would be done. The Investors would make their stand and inform the authorities soon, a Shree cement official stated.
Finally East Bengal had to agree to terms of the Investors, and now are willing to sign the Agreement.
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