Quess Corp chairman Ajit Isaac has wished East Bengal the best after confirming the termination of the Joint Venture (JV) between the Bengaluru-based firm and the club on Friday.
In an official statement, Ajit Isaac stated that the development was done on mutual terms and the sporting rights to field a team in a recognised tournament has been handed back to the club.
The statement read, “We are pleased to inform that the JV agreement closure has taken place between Quess Corp and EBC on mutually agreed terms. The formalities pertaining to termination of the JV agreement between Quess, QEBFC and EBC was concluded on 17 July 2020.