Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Jul, 14 2017

NCLT restores Vikram Bakshi as MD of Connaught Plaza Restaurant

The tribunal has said the meeting of Connaught Plaza Restaurants Ltd (CPRL) of August 6, 2013 in which Bakshi was removed as MD of the company was illegal, unjust and malafide.

The National Company Law Tribunal (NCLT) has reinstated Vikram Bakshi as the Managing Director of Connaught Plaza Restaurant Ltd, which runs McDonald’s outlets in North and East India.

The tribunal has said the meeting of Connaught Plaza Restaurants Ltd (CPRL) of August 6, 2013 in which Bakshi was removed as MD of the company was illegal, unjust and malafide.

A two-member NCLT bench, headed by its President, Justice M M Kumar, said, "The status of Mr Vikram Bakshi as Managing Director of CPRL is restored."

The court has also appointed former Supreme Court judge G S Singhvi to act as administrator in the company with power to vote.

The tribunal said, "He (Bakshi) shall continue to act as Managing Director of CPRL subject to passing of any resolution under the Chairmanship of the administrator."

It further said, "All steps taken in pursuance of non-election of Vikram Bakshi as Managing Director are also declared illegal, unlawful, unjust and malicious."

CPRL, a 50:50 joint venture between McDonald's India Pvt Ltd (MIPL) and Bakshi, is the licensee for north and east India regions of the US fast food chain.

Bakshi was at loggerheads with the US based fast food chain over the management of CPRL.

Comment
Related opportunities
  • About:The Swiss Laundry is a brand that started in 2013..
    Locations looking for expansion New Delhi
    Establishment year 2003
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required 800 - 1800 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Laundry & Dry Cleaning
    Be a part of the booming on-demand laundry service industry..
    Locations looking for expansion Karnataka
    Establishment year 2012
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Urban District Karnataka
  • About Willow Spa:-Willow Spa helps you escape every day Hustle..
    Locations looking for expansion Tamil Nadu
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 30lac - 50lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
  • Multi Cuisine Restaurant
    About:CHEFZ STORY offer an engaging and elaborate dining experience and..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size Rs. 1 Cr. - 2 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities