Vikram Bakshi said he will approach the National Company Law Appellate Tribunal on Wednesday after he didn't get relief against McDonald's India's decision to scrap the franchise pact for a third of its outlets in India operated by the company he founded.
The National Company Law Tribunal on Tuesday rejected Bakshi's contempt plea against the burger chain and asked him to approach NCLAT. Bakshi's Connaught Plaza Restaurants Pvt. operated McDonald's 169 outlets in north and east India.
The company will hold board meeting on Wednesday and directors of McDonald's have agreed to attend it, Bakshi told BloombergQuint in a Skype interview. The burger chain's representatives were not present at the earlier meetings on August 21 and August 29, he said.
Bakshi and McDonald's are locked in a fight since 2013, when he was removed as managing director of Connaught Plaza. He moved the NCLT and was reinstated this year.
His reappointment is on the agenda for Wednesday's meeting, which will be chaired by the administrator, the retired Supreme Court judge Justice GS Singhvi. Other matters to be discussed include re-opening of 43 McDonald's outlets and the termination notice by McDonald's.
The burger chain, in an emailed statement to BloombergQuint, said, “The termination notice period ends today (September 5). Therefore, CPRL (Connaught Plaza) is no longer authorised to use the McDonald's system and its intellectual property...We are proceeding with exercising our legal and contractual rights.”
McDonald's said it's examining the NCLT order and does not have any comment at this point.
The burger chain had over 450 outlets in India through two franchises till it ended partnership with Bakshi's Connaught Plaza in the north and the east. Hardcastle Restaurants, a subsidiary of Westlife Development Ltd., runs over 250 McDonald's outlets in west and south India.
Also Read: Settlement With Vikram Bakshi Not Possible, McDonald's Tells NCLAT
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