The decision by the National Company Law Tribunal (NCLT assumes significance as Connaught Plaza Restaurants is the 50:50 joint venture (JV) between McDonald’s India Pvt. Ltd. (MIPL) and Bakshi.
The company runs McDonald’s outlets in North and Eastern part of India. Bakshi was removed as MD of the company in August 2013.
On its part, MIPL said: “We respect the decision of the NCLT. We are examining the judgement and exploring our legal options in the matter.”