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Vikram Bakshi and McDonalds have finally settled the five-year-old dispute out of court.
The US-based fast food major has bought out fifty percent voting equity shares of Bakshi in Connaught Plaza Restaurants Pvt Ltd (CPRL), that operated a chain of McDonald’s restaurants in north and east India. With this acquisition, CPRL will now be wholly owned by McDonald’s India Pvt Ltd (MIPL) and its affiliate McDonald’s Global Markets, LLC.
Vikram Bakshi and Bakshi Holding Private Limited were advised by Counsel Satvik Varma instructed by Anirudh Wadhwa, Abhishek Iyer & Keshav Gulati from Wadhwa Law Chambers. Senior Counsel Akhil Sibal advised on the litigation strategy and overall settlement process.
S&R Associates acted for McDonald’s India Private Limited and other McDonald’s Group companies with a team led by Partners Rajat Sethi, Niti Dixit and Mohit Gogia, assisted by associates Jagriti Mohata, Raunak Mathur & Prateek Sharma, along with the McDonald’s in-house legal team of I-Ming Ang, Vivek Kumar and Sumit Chopra.
Vikram Bakshi has been represented by Tejas Karia, Partner of Shardul Amarchand Mangaldas along with Gauhar Mirza, Principal Associate before the National Company Law Appellate Tribunal and the High Court of Delhi, which will finally get resolved because of this settlement.
Dua Associates Partner Amit Dhingra and Senior Associate Shivam Kumar Raheja have been representing McDonald’s India Private Limited in the National Company Law Appellate Tribunal, NCLT, Delhi High Court and other forums. Partner Salil Gulati has also been representing McDonald’s and its officials before various authorities and forums in relation to this dispute.
With the transfer of ownership and management today, Vikram Bakshi ends his association with CPRL and McDonald’s. Effective immediately, Robert Hunghanfoo has been appointed as the head of CPRL, now owned by MIPL and its affiliate. Bakshi had signed the JV as an equal equity (50/50) partner with McDonalds Corporation in 1995, establishing the first McDonald’s restaurant in India in 1996.