The National Company Law Appellate Tribunal on Thursday refused to pass any interim order on estranged partner Vikram Bakshi's plea against termination of franchise licence agreement by US-based fast food chain McDonald's.
This means the fate of 169 McDonald's stores in north and east India hangs by a thread as CPRL's licence to operate the outlets lapsed on September 5.
An NCLAT bench headed by Justice S J Mukhopadhyaya has issued a direction to list on September 21 Bakshi's licence termination petition along with the original one filed by McDonald's.
Bakshi had on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) to stay the termination of franchise licence agreement by McDonald's for 169 stores operated by their joint venture Connaught Plaza Restaurant Ltd (CPRL).
The cancellation led to a temporary shutdown of all 169 McDonald's outlets in North and East India. McDonald's other franchise, Westlife, owns outlets in West and South India.
Bakshi's initial plea challenging the termination was dismissed by the NCLT post which he moved the National Company Law Appellate Tribunal (NCLAT) on Wednesday with a fresh appeal seeking relief.
On Tuesday, the NCLT had also issued a show-cause notice to McDonald's Corporation over the contempt petition filed by its estranged partner.
Bakshi has been at loggerheads with the fast food chain over the management of CPRL after he was ousted from the post of MD of the McDonald's franchisee in August 2013.
In June, 43 outlets of the fast food chain were closed in the capital following expiry of eating house licenses.
CPRL is a 50:50 JV between McDonald's and Bakshi.
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