LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

McDonald's Case: NCLAT Asks Parties to Settle Row Themselves

According to the termination notice issued by McDonald's to CPRL, the outlets have time till September 6 to function, post which they will have to stop using McDonald's name and trademark.

PTI

Updated:August 25, 2017, 1:22 PM IST
facebookTwittergoogleskypewhatsapp
McDonald's Case: NCLAT Asks Parties to Settle Row Themselves
Last month, McDonald's had decided to shut down 43 of the total 55 outlets here due to failure to renew eating house licences. (Photo: AFP)
Loading...
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday asked US fast food giant McDonald's and its estranged Indian JV partner Vikram Bakshi to consider settling their dispute among themselves.

Putting off the matter for next hearing to August 30, the tribunal asked McDonald's to give an undertaking that the 169 outlets will be allowed to function till the negotiations are on.

The parties will have to decide by August 30 whether they will consider settling the dispute or not.

McDonald's has terminated franchise agreement for the 169 outlets in north and east that were operated by Connaught Plaza Restaurant Ltd (CPRL), the joint venture (JV) with Bakshi.

According to the termination notice issued by McDonald's to CPRL, the outlets have time till September 6 to function, post which they will have to stop using McDonald's name and trademark.

The tribunal also asked Bakshi to give an undertaking that he would not pursue the criminal cases filed in India against McDonald's executives when they come for negotiations.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Zee Entertain 467.05 2.24
Jet Airways 276.25 -5.94
Yes Bank 206.15 1.55
Reliance 1,142.25 1.12
Infosys 735.00 1.16
Company Price Change %Gain
Jet Airways 275.90 -6.28
Graphite India 788.00 13.44
Yes Bank 206.25 1.63
Reliance 1,142.15 1.12
HEG 3,871.95 9.35
Top Gainers
Company Price Change %Gain
Grasim 838.00 2.76
Indiabulls Hsg 831.85 2.84
Bharti Airtel 343.95 1.84
Zee Entertain 467.05 2.24
IndusInd Bank 1,526.05 2.06
Company Price Change %Gain
Bharti Airtel 343.80 1.82
IndusInd Bank 1,526.00 1.96
Yes Bank 206.40 1.70
NTPC 147.65 1.27
ICICI Bank 377.75 1.40
Top Losers
Company Price Change %Gain
UPL 761.50 -1.86
Tech Mahindra 698.20 -1.14
TCS 1,851.85 -0.85
Adani Ports 382.55 -0.68
Bajaj Finance 2,584.45 -0.76
Company Price Change %Gain
ITC 294.20 -0.81
TCS 1,853.10 -0.60
Bajaj Finance 2,585.00 -0.55
Hero Motocorp 2,896.20 -0.51
HCL Tech 941.30 -0.61

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results