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Mohun Bagan: Shareholders transfer all shares to the club

17:56 WAT 24/01/2019
Mohun Bagan Sony Norde
Mohun Bagan are readying a bid to join the Indian Super League...

The four shareholders of Mohun Bagan Pvt Ltd, namely Swapan Sadhan Bose, Anjan Mitra, Srinjoy Bose and Debashish Dutta have transferred 100 per cent shares to parent entity Mohun Bagan Athletic Club. 

The landmark decision was announced following an executive committee meeting on Thursday. The club also announced that it has successfully registered the patent of the club logo, name and colour in the Trade Mark Registry Act. The club itself is now registered under the West Bengal Societies Act. 

The four shareholders owned 25 per cent shares each of Mohun Bagan Pvt Ltd and by giving it back, the club can now sell stakes to a private investor. East Bengal had earlier sold 70% of East Bengal Pvt Ltd to Quess to form Quess East Bengal Pvt Ltd.

Speaking of the new development, Debashish Dutta stated, "In the previous arrangement, we would not have been able to give away stake as four individuals owned the shares of the company. Now that we have transferred the share back to the club, the club can sell stakes to another entity.

"The new company (Mohun Bagan Football Club (India) Pvt Ltd) now belongs to all the members of Mohun Bagan Athletic club and not just to the four of us."

Mohun Bagan will announce a private investor before they bid for Indian Super League, as confirmed by General Secretary Swapan Sadhan Bose.