East Bengal club's former investors Quess on Friday promised to meet all obligations after a host of players sent notices to the company asking for salaries for the months of April and May.
East Bengal have terminated their tie-up with Quess Corp who had a 70 per cent stake, on May 31.
Both the parties had a three-year deal but the Bengaluru-based investors exited in two years.
Besides players asking for salaries, there is also little clarity on whether the sporting rights, currently enjoyed by the joint venture, has been transferred back to the red and gold outfit who are now without sponsors.
"It has come to our notice that there are untoward allegations, most of them unverified, doing the rounds on how players of the football club have been denied their salaries as an outcome of the termination of the agreement between Quess Corp and EBFC," Quess said in a statement.
"We would like to clarify that we are a responsible corporate and our obligations to all will be met. We have been working closely with our representatives in Kolkata to ensure that this transition happen smoothly and with minimal discomfort.
"The formalities pertaining to the termination of the JV agreement between Quess, QEBFC and EBFC is underway and is expected to be completed soon," the statement added.
"While Quess will do everything to protect the value of its shareholders, we will uphold the future of the game and its supporters."
At the start of the month, the All India Football Federation (AIFF) had asked East Bengal to officially inform them about their change in ownership.
East Bengal finished runners-up in the 2018-19 I-League, but their performance dipped in the 2019-2020 season with their relation also straining with Quess.
Due to the COVID-19 pandemic, foreign players of East Bengal were stuck in Kolkata for an extended period before most of them flew back home.