New Delhi: US fast food chain McDonald’s is likely to move the National Company Law Appellate Tribunal (NCLAT) this week against an order by the National Company Law Tribunal (NCLT) that reinstated Vikram Bakshi as managing director of its Indian joint venture Connaught Plaza Restaurants Pvt Ltd (CPRL). With no signs of resolution of the conflict between the company and its JV partner in sight, 43 outlets of the fast food chain in the Capital continue to remain closed. According to people in the know of the development, McDonald’s is preparing to move the National Company Law Appellate Tribunal (NCLAT) this week against the NCLT order of July 13.
The NCLT had ordered reinstatement of Mr Bakshi as MD of CPRL – a 50:50 joint venture between McDonald’s India Pvt Ltd (MIPL) and him. CPRL is responsible for operating McDonald’s outlets in North and East India.
When contacted, McDonald’s India spokesperson Barry Sum declined to comment saying the company has no update to share at the moment
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