NCLAT intervenes in McDonalds, Vikram Bakshi dispute; asks both to wait till August 30

Key highlights:

• NCLAT has asked McDonald's India and Bakshi to inform the tribunal by August 30 if the settlement of the dispute is possible
• The tribunal will hear McDonald's appeal against Bakshi on August 30
• It asked McDonald's and Bakshi not to act against each other until the next date

The National Company Law Appellate Tribunal (NCLAT) has intervened in the dispute between McDonald's and its joint venture partner Connaught Plaza Restaurants Ltd (CPRL) head Vikram Bakshi, after McDonald's on Tuesday terminated the franchise agreement with it.

The NCLAT has asked McDonald's India and Bakshi to inform the tribunal by August 30 if the settlement of the dispute is possible, according to a Bloomberg report.

The tribunal will hear McDonald's appeal against Bakshi on August 30. Besides this, it asked McDonald's and Bakshi not to act against each other until the next date.

Nearly half of McDonald's fast-food stores in India may shut down in 15 days