ISL: Shree Cement and East Bengal FC form new company, set to pick up bid papers

The wheel had been set in motion. Now, with each passing day, East Bengal FC’s entry into the Indian Super League (ISL) this season is becoming more and more imminent.

On Saturday, Shree Cement Limited, the new investors for the Red and Golds, registered a new company named 'Shree Cement Foundation' with the Ministry of Corporate Affairs. This new company will pick up the bid papers from Football Sports Development Ltd. (FSDL) on behalf of the club for a berth in ISL 2020-21.

Sanjay Mehta and Prakash Narayan Chhangani have been named directors of the companyas of now, additional directors are likely to be incorporated in the coming days.

A new company has been registered (Source: Twitter)

Earlier, on Friday, FSDL had already floated a tender inviting bids from six cities, including East Bengal. The bid papers would be open on Monday and Tuesday. As per reports by Xtratime and Goal.com, the new company will pick up the bid papers online by Monday itself.

Then, they will have to fill up the details and submit the documents in due time (soft copy by 14th September, hard copy by 17th September) after which FSDL, with the help of an independent 3rd party, would review their bid.