NEW DELHI: Next time you walk into a McDonalds branded outlet in North or East India, you could actually biting into a genuine McDonalds burger with the global fast-food giant set to settle its long drawn dispute with its estranged Indian partner Vikram Bakshi. The US burger chain is set to secure full control of the operations around 165 outlets in North and East India are currently run by Bakshi’s Connaught Plaza Restaurants (CPRL).
“The handover process is in progress. McDonald’s will look to renovate and refurbish the outlets and rework the supply chain,” said a senior industry executive aware of the development.
TOI had reported in December that McDonald’s had resumed talks with Bakshi for a possible out-of-court settlement. Both partners on Monday confirmed the same to the National Company Law Appellate Tribunal (NCLAT).
Bakshi told, Both shareholders are pursuing a settlement and I am sure you can appreciate, details of which cannot be shared at this stage.
When contacted, a global McDonald’s spokesperson told TOI in an email. “We do not have any details to share at this point. We have just informed the courts that a settlement is progressing.”
The court will consider these matters on May 20. In the southern and western regions the outlets are run by Amit Jatia-led Westlife Development. Both shareholders are pursuing a settlement.
Partnership Between McD and Bakshi
The partnership between McDonald’s and Bakshi which led to the birth of CPRL. It signed in 1995 for a period of 25 years. Troubles sparked off when it trying to buy Bakshi’s 50% stake in CPRL in 2008. Things went down in 2013 when it accused Bakshi and voted against his re-election as the MD of CPRL. Subsequently, Bakshi approached the National Company Law Tribunal (NCLT), which reinstated him as the MD of CPRL in 2017.
