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McDonald’s India has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) challenging the order of National Company Law Tribunal (NCLT), which was passed in July.
The NCLT principal bench in its ruling in July had stated that Vikram Bakshi should be reinstated as the Managing Director of Connaught Plaza Restaurants (CPRL). CPRL is a 50:50 joint venture between McDonald’s India and Bakshi.
Replying to an e-mail query, Barry Sum, Director, Corporate Relations, Asia Foundational Markets, McDonald’s, said: “Yes, we are exercising our legal right and appealing the NCLT decision to NCLAT. The appeal was just filed today.”
On Monday, McDonald’s India, the Indian subsidiary of the American burger chain, had announced the termination of its franchise agreement with CPRL, which runs 169 restaurants in the North and East India.
The company’s decision to terminate its franchise agreement has put the future of these restaurants and thousands of its employees under a cloud of uncertainty.
McDonald’s has also said that it is in the early stages of looking for a new development licensee partner for North and East India.
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