New Delhi: Fast food major McDonald’s Corp. said it is exploring legal options after the National Company Law Tribunal (NCLT) restored its estranged partner Vikram Bakshi as the managing director of Connaught Plaza Restaurants Ltd (CPRL), on Monday. We are examining the judgement and exploring our legal options in the matter,” said MIPL in an official statement. CPRL, a 50:50 joint venture between McDonald’s India Pvt Ltd (MIPL) and Bakshi, is the licensee for north and east India regions for the fast food chain. Bakshi was not re-elected as the MD of CPRL following the objections of MIPL and its parent company. The tribunal also rejected McDonald’s submission that as per the clauses of the agreement between them, MIPL may exercise call option, virtually ousting Bakshi from CPRL.

Source: Mint July 14, 2017 12:00 UTC