Mcdon­ald’s says no to set­tle­ment with Bak­shi

Mint ST - - THE BRIEFING -

New Delhi: Mcdon­ald’s In­dia Pvt. Ltd (MIPL), the In­dian sub­sidiary of the Amer­i­can fast food chain, has told the Na­tional Com­pany Law Ap­pel­late Tri­bunal (NCLAT) that it does not want an out-of-court set­tle­ment with es­tranged fran­chise part­ner Vikram Bak­shi.

MIPL’S stand was taken on record by NCLAT, which had, on 25 Au­gust, asked both par­ties to try and set­tle the dis­putes that had led to the es­trange­ment and keep the 169 Mcdon­ald’s out­lets they op­er­ate in north and east In­dia open and run­ning while the talks are on. “We in­formed NCLAT to­day that we wish to pro­ceed with the ap­peal,” said Barry Sum, di­rec­tor, cor­po­rate re­la­tions, Asia Foun­da­tional Markets, Mcdon­ald’s Corp. PAGE 5

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