MCDONALDS SAYS NO DEAL WITH BAKSHI

New Delhi: US-based fast food major McDonald's today ruled out any settlement with its estranged Indian partner Vikram Bakshi for north and east regions before the National Company Law Appellate Tribunal (NCLAT). Subsequently, the NCLAT issued notices to both the parties over their cross petitions directing them to file replies, and posted the matter for the next hearing on September 21. “Without going into the merit... we find that there is no chance of any settlement,” observed NCLAT chairman Justice S.J. Mukhopadhaya. NCLAT was hearing the appeals filed by McDonalds and Vikram Bakshi against each other. “In the meantime, respective respondents may file a reply within a week and rejoinder a week there of,” the tribunal said. NCLAT had last week asked them to decide by today if they can settle the dispute.