Tribunal asks McDonalds, Vikram Bakshi to wait for NCLAT verdict on franchise agreement

Key highlights:

• McDonald's will have to wait more time for the final verdict from the NCLAT
• NCLT issued notices to McDonald's asking them to give a reason why contempt proceedings should not be initiated against it
• It has asked McDonald's to file the reply by September 20

The resolution to the battle between Vikram Bakshi, the 50:50 joint venture partner of franchise license firm for Connaught Plaza Restaurant for Northern and Western India for McDonald's, and the US food-fast giant had to wait more time for the final verdict from the National Company Law Appellate Tribunal (NCLAT).

The part of NCLT's decision went Bakshi's way as they admitted to his plea against McDonald's for contempt of its July 13 order reinstating him as the Managing Director of the company that runs the outlets in northern and eastern part of India. However, it dismissed his other plea challenging the termination of the franchise agreement by McDonald's, according to a Financial Express report.

NCLAT intervenes in McDonald's, Vikram Bakshi dispute; asks both to wait till August 30