Hotline: 1800 102 2007
X
Search Business Opportunities
Sep, 02 2013

Vikram Bakshi to Move Company Law Board

Bakshi to appeal CLB; resolve the deadlock over the appointment

Mr. Vikram Bakshi, partner of McDonald's, will soon move the Company Law Board (CLB) seeking his reinstatement as the managing director of their equal joint venture.

He is also likely to ask the Company Law Board to stop the US company from hampering the operations of the JV, Connaught Plaza Restaurants Ltd, which runs 154 McDonald's outlets in the northern and eastern parts of India. Mr. Bakshi is expected to allege that McDonald's has treated him in an unfair and discriminatory way as compared with Hardcastle Restaurants Pvt Ltd, its other partner in India, that operates the burger and fries chain's outlets in the western and southern parts of the country. In his petition to CLB, Bakshi is also likely to say he has been unfairly treated compared with McDonald's other partner Hardcastle Restaurants Pvt Ltd.

Mr. Bakshi said in a statement “The matter is now being addressed by my lawyers. It would be inappropriate for me to comment on any issue that is confidential and between my partner and myself at this stage.”

Mr. Bakshi's term as managing director expired on July 17. At the company's board meeting on August 6, the two McDonald's nominees on the four-member board rejected the proposal to re-nominate him as MD. On August 30, McDonald's India issued a public notice saying Mr. Bakshi had ceased to be the managing director of the joint venture.

Comment
Related opportunities
  • Adventurous Sporting
    About Us : The Sports Gurukul (TSG) is Mumbai’s first of..
    Locations looking for expansion Maharashtra
    Establishment year 2002
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Others Consultancy
    Want to invest in a Water Care franchise business? Partner..
    Locations looking for expansion Chhattisgarh
    Establishment year 2006
    Franchising Launch Date 2012
    Investment size Rs. 2lac - 5lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Raipur Chhattisgarh
  • Bars, Pubs & Lounge
    About :  Grandmama's Cafe is an all-day café and bar..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Ice creams & Yogurt Parlors
    About Us: The Pabrai Family has over 30 years of experience..
    Locations looking for expansion West Bengal
    Establishment year 2008
    Franchising Launch Date 2009
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Kolkata West Bengal
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