NEW DELHI: Estranged partners McDonald's and Vikram Bakshi on Monday told the NCLAT that they are working towards an out-of-court settlement to end their over 5-year-old dispute. Counsels for McDonald's India Pvt Ltd and Vikram Bakshi told a two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairperson S J Mukhopadhyay, that they are trying to work out a settlement. McDonald's and Bakshi had in 1995 signed a partnership agreement to open outlets of the US fast food chain in India. In the southern and western regions, McDonald's outlets are run by Amit Jatia-led Westlife Development. In August 2017, McDonald's had told the NCLAT that settlement of dispute with its estranged partner Bakshi was not possible.

Source: Mint May 06, 2019 12:00 UTC