Mcdonald’s says no to settlement with Bakshi
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