NCLAT directs Vikram Bakshi to file affidavit within a week on amount received from McDonald's for his shares
Bakshi and McDonald's India Pvt. Ltd had approached the NCLAT to withdraw cases filed against each other for management control of Connaught Plaza Restaurants Pvt Ltd.
NCLAT gives 4 weeks to Vikram Bakshi to settle dispute with HUDCO, says last chance to resolve issues
Both McDonald's and Bakshi had moved to withdraw cases filed against each other before the NCLAT to settle their dispute, which was then opposed by HUDCO claiming dues of Rs 195 crore on Bakshi.
McDonald's reopens 13 stores in Delhi-NCR, permanently removes some of the least popular items from menu
McDonald has also taken Maaza beverage off the list, a fruit-based drink brand from Coca-Cola
Earlier this month, McDonald's reached an out-of-court settlement with Bakshi, buying out Connaught Plaza Restaurants from the joint venture
McDonald's strikes out-of-court settlement with Vikram Bakshi; buys out former Indian partner from joint venture
CPRL is now wholly owned by McDonald's India Pvt Ltd and its affiliate (McDonald's Global Markets LLC, MGM), following the completion of a settlement reached with Bakshi.
McDonald's to get full control of 165 outlets run by Vikram Bakshi as former partners hint at clinching a settlement soon
On Monday, estranged partners McDonald's and Bakshi told the NCLAT that they were working towards an out-of-court settlement to end their over the five-year-old dispute.
All 169 McDonald's outlets to function as usual, insists Vikram Bakshi after NCLAT denies relief; battle heightens
McDonald's, however, said it would enforce its legal right to refrain Vikram Bakshi from using its name, system, trademark, designs and its associated intellectual property
McDonald's 169 outlets face closure today; Vikram Bakshi to move NCLAT as 10,000 jobs hang in balance
The termination notice period ended on 5 September. Store owners such as DLF have started serving notice for vacation to outlets
The move will further dent McDonald's share of India's booming quick service restaurants market, where it has already been losing ground to rivals like Domino's Pizza
Bakshi was at loggerheads with the US-based fast food chain over the management of CPRL.
McDonald's has said that licences of number of its restaurants operating in Delhi have expired
The Delhi High Court has stayed a Company Law Board (CLB) order to transfer the litigation between McDonald's and Vikram Bakshi, estranged North and East India partner of US fast-food giant, to the Chennai bench of CLB.
Estranged managing director of Connaught Plaza Restaurants that runs McDonald's chain in North and East India, Vikram Bakshi, is now facing another legal battle as the government backed lender Housing and Urban Development Corporation (Hudco) has moved the court against him after a loan default after he failed to meet loan obligations worth Rs 80 crore.<br /><br />
Bakshi, who holds a 50-percent stake in Connaught Plaza Restaurants Ltd, moved the Company Law Board (CLB) on Monday seeking a stay on his removal and submitted that he cannot be removed as MD of Connaught Plaza Restaurants through a general meeting of the company but only via a a meeting of shareholders of the company in accordance with law.<br /><br />