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Home / Sports / Investor Shree Cement fires salvo at East Bengal

Investor Shree Cement fires salvo at East Bengal

They told the club that if it doesn’t sign the final agreement, they would have no option but to discontinue the affiliation
Shree Cement said the club’s letter of May 25 did not list “a single discrepancy in the term sheet and the draft final agreement” sent by the investor on March 24.
Shree Cement said the club’s letter of May 25 did not list “a single discrepancy in the term sheet and the draft final agreement” sent by the investor on March 24.
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Our Special Correspondent   |   Calcutta   |   Published 29.05.21, 01:48 AM

Shree Cement, East Bengal’s investor, has categorically told the club that if it doesn’t sign the final agreement, they would have no option but to discontinue the affiliation.

Shree Cement’s assertion came in a letter it sent on Friday to the club in response to East Bengal’s missive of May 25.

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“If the final settlement is not signed as per term sheet then the affiliation may have to be discontinued,” said the letter from Shree Cement, signed by Shivaji Samaddar, the CEO of SC East Bengal, and addressed to East Bengal assistant general secretary Rupak Saha.

The investor hasn’t, however, set any deadline for the club to sign on the dotted line.

Shree Cement said the club’s letter of May 25 did not list “a single discrepancy in the term sheet and the draft final agreement” sent by the investor on March 24.

“There has been no change in the term sheet, which was signed by the two parties on September 1 last year in the presence of chief minister Mamata Banerjee, and the draft final agreement. The club’s claim that there were anomalies in the final agreement doesn’t hold any ground. If so, why didn’t they specify the grey areas?” a representative of the investor said on Friday.



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