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The fate of 169 McDonald’s restaurants and its 6,500 employees hangs in the balance as the National Company Law Tribunal (NCLT)-appointed administrator has asked McDonald’s India and its estranged joint venture partner Vikram Bakshi to wait till Thursday for the decision of the appellate tribunal before shutting the restaurants.
This means that all McDonald’s outlets in the north and east India, which were supposed to be shut from 6 September, will remain open until Thursday.
On 21 August, McDonald’s India had terminated its franchise agreement for 169 restaurants across north and east India with Connaught Plaza Restaurants Pvt. Ltd (CPRL), a joint venture between the former and Bakshi. According to the termination notice, Bakshi is no longer authorized to use McDonald’s names, trademarks, designs, branding, operational and marketing practice and policies and food recipes and specifications.
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