associate sponsors


Setback for McDonald's as law tribunal reinstates Vikram Bakshi as Connaught Plaza MD

New Delhi: In a major setback to the US- based fast food chain McDonald's in India, the National Company Law Tribunal (NCLT) on Thursday restored its estranged partner Vikram Bakshi as the Managing Director of Connaught Plaza Restaurant Ltd.

The tribunal has said the meeting of Connaught Plaza Restaurants Ltd (CPRL) of 6 August, 2013 in which Bakshi was removed as MD of the company was illegal, unjust and malafide.

"The status of Mr Vikram Bakshi as Managing Director of CPRL is restored," said a two-member NCLT bench headed by its President Justice M M Kumar.

The court has also appointed former Supreme Court judge G S Singhvi to act as administrator in the company with power to vote.



"He (Bakshi) shall continue to act as Managing Director of CPRL subject to passing of any resolution under the Chairmanship of the administrator," the tribunal said.

It further observed: "All steps taken in pursuance of non-election of Vikram Bakshi as Managing Director are also declared illegal, unlawful, unjust and malicious."

CPRL, a 50:50 joint venture between McDonald's India Pvt Ltd (MIPL) and Bakshi, is the licensee for north and east India regions of the US fast food chain.

Bakshi was at loggerheads with the US-based fast food chain over the management of CPRL.

In a public notice on August 30, 2013, McDonald's India said: "Vikram Bakshi has ceased to be the Managing Director of Connaught Plaza Restaurants pursuant to expiration of Bakshi's term on July 17."

However, Bakshi contested that he cannot be removed as MD through a general meeting of the company.

Updated Date: Jul 14, 2017 08:20 AM

Also Watch

Firstpost in Russia: Moscow to St. Petersburg, on a free World Cup train
  • Monday, July 2, 2018 Social Media Star: Richa Chadha, Kunal Kamra talk about their political views, and why they speak their mind
  • Tuesday, June 26, 2018 It's A Wrap: Swara Bhasker talks about Veere Di Wedding and Twitter trolls, in conversation with Parul Sharma
  • Tuesday, June 19, 2018 Rahul Gandhi turns 48: Congress chief, who once said 'power is poison', should focus on party rather than on 'hate Modi' mission
  • Monday, June 4, 2018 It's A Wrap: Bhavesh Joshi Superhero makers Anurag Kashyap, Vikramaditya Motwane in conversation with Parul Sharma

Also See