Some of the outlets of McDonald's run by CPRL, franchisee of the US fast food chain for north and east India, continued to function today amid uncertainty over the future of 169 such restaurants following the cancellation of licence.
On August 21, McDonald's India had terminated franchise agreement for 169 outlets run by Connaught Plaza Restaurants Ltd (CPRL) alleging breach of contract terms and payment default.
It had given a 15-days notice to CPRL -- a 50:50 joint venture between the company and its estranged partner Vikram Bakshi --to stop using its brand and associated intellectual property following termination of license. The notice expired yesterday.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)