Photo: Praful Gangurde/HTThe National Company Law Tribunal (NCLT) on Monday resumed hearing a contempt plea against American fast food chain McDonald’s Corp. filed by its estranged joint venture partner Vikram Bakshi. Kumar directed McDonald’s to file a reply to the contempt plea by 30 January. The resumption of the NCLT hearing comes after the Delhi high court dismissed McDonald’s India’s plea challenging NCLT’s right to issue a contempt notice. NCLT reinstated Bakshi as managing director on 13 July and restrained McDonald’s from interfering in the functioning of CPRL. On 21 August, McDonald’s India terminated its franchise pact with CPRL, a joint venture between McDonald’s India and Bakshi, and asked CRPL to shut all the restaurants from 6 September.

Source: Mint January 22, 2018 07:07 UTC