McDonald’s India rift: NCLAT asks global fast food chain, estranged JV partner Vikram Bakshi to settle dispute amongst themselves

The National Company Law Appellate Tribunal (NCLAT) today asked US fast food giant McDonald’s and its estranged Indian JV partner Vikram Bakshi to consider settling their dispute among themselves.

Putting off the matter for next hearing to August 30, the tribunal asked McDonald’s to give an undertaking that the 169 outlets will be allowed to function till the negotiations are on.

The parties will have to decide by August 30 whether they will consider settling the dispute or not.

McDonald’s on Monday terminated franchisee agreement for the 169 outlets in north and east that were operated by Connaught Plaza Restaurant Ltd (CPRL), the joint venture (JV) with Bakshi.

McDonald’s India spokesperson said: “We are examining the matter at the moment and will get back when we have anything to share.”

Bakshi could not be reached immediately for comments.

The NCLAT decision came on the appeal filed by the US- based food chain against the NCLT order dated July 13 that reinstated Bakshi as the MD of CPRL and restrained McDonald’s from interfering in the functioning of CPRL

Bakshi was ousted from the post at the McDonald’s franchisee in August 2013, following which he approached the NCLT in September the same year. He has been at loggerheads with …read more