tr -d is not working on SunOS 5.9

i am using sunos 5.9.

entityname="india\/delhi"
correctpattern="<branch value=\"/`echo $entityname | tr -d '\'`/WORKAREA/\">
echo $correctpattern

the output should be
<branch value="/india/delhi/WORKAREA/">

This is working fine in command line but not working when i placed these codes inside the script.
In the script i have used #!/bin/bash

Please suggest

Your deletion pattern is incorrect.
This sould work better:

correctpattern="<branch value=\"/$(echo $entityname | tr -d '\\')/WORKAREA/\">