Restaurant Franchise Opportunities

McDonald s 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.

By Franchise India Bureau
NCLT restores Vikram Bakshi as MD of Connaught Plaza Restaurant

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.

Related: McDonald's releases rainbow-themed fries boxes to celebrate Pride Month

Click Here to add Comment
Please add your Comment
Rating
Sell Franchise 2017
Most

Video

Magazines & Books

Read the latest franchising magazines and books to get comprehensive and up-to-date information on leading franchise systems, trends and more.

Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Restaurant India

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.