Photo: ReutersNew Delhi: US fast food chain McDonald’s is likely to move National Company Law Appellate Tribunal (NCLAT) this week against a National Company Law Tribunal (NCLT)’s order that reinstated Vikram Bakshi as managing director of its Indian joint venture (JV) Connaught Plaza Restaurants Pvt. According to people with the knowledge of the development, McDonald’s is preparing to move the NCLAT this week against the NCLT order of 13 July. The NCLT had ordered reinstatement of 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. After the NCLT order, Bakshi had said CPRL would come back to its growth and operational journey the way it was prior to 2013.

Source: Mint August 20, 2017 10:41 UTC