Finally the news we have all been waiting for! All the Mcdonalds outlets in North and East will be back open and operational by the end of this week!
The outlets were shut down after discontinuation of supplies by the logistics partner Radhakrishna Foodland, who alleged that CPRL failed to make payments and had reduced volumes.
These claims were however denied by Vikram Bakshi who said that Radhakrishna Foodland is conspiring with McDonald’s to hurt the business.
Now Bakshi has roped in ColdEx to resume the functioning of the affected outlets.
CPRL had a 50:50 joint venture with McDonald’s India and runs 169 outlets in this zone even after McDonald’s terminated their agreement over management issues in August 2017.
According to Bakshi, the termination was illegal and the outlets will run until the courts take a final decision on the matter.
Presently both McDonald’s and CPRL are battling the matter in various courts. The major fight between the two began when Vikram Bakshi was removed from his position as the MD of Connaught Plaza Restaurants Ltd. (CPRL) in 2013, after which he had approached the National Company Law Tribunal which reinstated him. In the meanwhile, the London Court of International Arbitration has asked Bakshi to sell his stake to McDonald’s which is still pending at the Delhi High Court.
The silver lining to this everlasting legal war is that we can fill up on our favourite McSpicy Chickens and McAloo Tikkis again!
Read the whole story here.
Cover Image Courtesy | Source