McDonald's-Bakshi row: NCLAT to decide fate of 6,500 jobs today

The appellate court of the National Company Law Tribunal (NCLAT) will on Thursday decide the fate of the 169 McDonald’s stores and almost 6,500 jobs affected by McDonald’s India’s (MIPL) termination of licence agreement with Connaught Plaza Restaurants Ltd (CPRL). 

MIPL had terminated the pact last month citing “default in payment of royalties”. CPRL is a 50:50 joint venture between MIPL and Vikram Bakshi. Bakshi had filed a fresh appeal in the NCLAT on Wednesday after the National Company Law Tribunal (NCLT) dismissed his plea challenging MIPL’s termination notice on Tuesday. A second plea by Bakshi against MIPL, alleging interference by the latter in the affairs of CPRL, saw the NCLT on Tuesday issue a show-cause notice to McDonald’s for contempt of court.

Almost 6,500 people are directly employed by CPRL to run the 169 affected stores