Ranjit Bajaj and his spouse Henna Singh have resigned as the directors of Punjab Football Club, Goal has learnt. The move is a consequence of the completion of the takeover of the club by lifestyle and wellbeing firm Round Glass.
It is understood that both Ranjit and Henna have informed the All India Football Federation (AIFF) of their resignation.
In July 2019, Goal had reported that I-League club Minerva Punjab had agreed to a deal with Round Glass. The 2019-20 I-League season also saw Minerva Punjab getting rebranded as Punjab FC, after Round Glass' investment.
Earlier in the season, Round Glass had taken 50 per cent of the club's shares and the remaining was under Henna and Ranjit's names. However, now they have bought the remaining shares to complete the takeover.
Ranjit and Henna leave the club after an eventful journey which saw them progress to the I-League after a few years in the lower divisions and eventually win it. Punjab FC also had a strong youth system that saw their age group teams consistently perform well across the Elite, Junior and Sub-Junior leagues.
Round Glass is a venture capital firm that invests in the digital healthcare and wellness sectors. It was founded in 2014 by Gurpreet 'Sunny' Singh. He is also the CEO of Edifecs, a company providing integrated solutions for the healthcare ecosystem. He has also established SabTera, which works with under-resourced communities to provide schooling for children and sustainable employment for women.
They are currently working in 90 villages in Punjab and have implemented several initiatives including building football academies, installing solar panels, and establishing proper waste management mechanisms.
In their football academies, boys and girls between the age group of six to 14 hone their skills across Chandigarh, Mohali and Panchkula.
Goal reached out to Ranjit Bajaj to get his views but he remained unavailable for comment.