Kolkata, Sep 8 (IANS): City football giants East Bengal's new investors, Shree Cement Limited, is slated to pick up the bid proposal for a spot in the Indian Super League (ISL) in the name of 'Shree Cement Foundation', a new company it has registered with the Ministry of Corporate Affairs.

ISL organiser Football Sports Development Limited (FSDL) has invited bids for the inclusion of an 11th team in this edition of India's top tier club competition which will be held in Goa behind closed doors from November-March.

The soft copy of the bid document must be submitted by September 14 and the hard copy by September 17.

The electronic copies of the ITB and other documents shall be made available to the interested parties on September 7 and September 8, respectively, up to 5 pm via email, on payment of a non-refundable and non-adjustable document fee of Rs 5 lakh.

"We will complete all the formalities in time and are hopeful of playing in the ISL," H.M. Bangur, MD, Shree Cement, told IANS.

The company has two directors in Sanjay Mehta and Prakash Narayan Chhangani at present and additional directors are likely to be added in the board after a meeting between the representatives of Shree Cement and the club.

"The bid documents have been picked up. The formation of the board will be 6+2 with two members from East Bengal club," East Bengal assistant secretary Shanti Ranjan Dasgupta told IANS.

The Kolkata-headquartered Shree Cement has an annual turnover of over Rs 12,000 crore. It is owned by chairman Benu Gopal Bangur and his son Hari Mohan Bangur, who is the managing director of the company.