In a piece of information which will bring joy to many in the national capital, eighteen outlets of fast-food major McDonald’s have reopened on Tuesday.
The outlets are reopening even without thaw between joint venture partners Vikram Bakshi and McDonald's India Pvt Ltd (MIPL).
A resolution was passed to reopen 21 outlets in a board meeting of Connaught Plaza Restaurants Private Limited (CPRL).
"Eighteen restaurants in Delhi reopened on Tuesday," Bakshi, who is managing director of CPRL, said.
This decision has been taken by the board of CPRL, chaired by NCLT appointed administrator Justice G S Singhvi, in the best interest of employees, vendors, landlords and all stakeholders, he added.
When contacted, McDonald’s India said: “Consequent on the termination of the franchise agreements of 169 McDonald’s restaurants operated by CPRL in the North and East of India, effective September 6, CPRL is required to cease using the McDonald’s System and is no longer authorised to operate McDonald’s restaurants.”
The company further said: “We will continue to take steps to exercise our legal and contractual rights.”
In June, 43 outlets operated by CPRL were closed after the expiry of eating house licence.
Bakshi and McDonald’s India have been fighting it out at courts over termination of franchise licence by the US-based fast food chain last month.
The fate of 169 outlets run by CPRL in north and east India became uncertain after the expiry of notice of termination of licence earlier this month.
While Bakshi is contesting at NCLAT here, the fast food major had approached the London Court of Arbitration, which last week asked Bakshi to sell his stake in the 50:50 joint venture, CPRL, to McDonald’s India.
With PTI inputs