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As per a report in media, after months of intense battle with its Indian joint venture partner Vikram Bakshi, fast food giant McDonald’s India may soon appoint a licensee partner for the north and east India region.
In August this year, McDonald’s had terminated franchise agreement for 169 out of its 430 fast food outlets operated by Bakshi-led Connaught Plaza Restaurant Ltd (CPRL) in north and east India, alleging breach of contract terms and payment default by the operator.
Post franchise agreement termination, both the sides are locked in a protracted legal battle at various courts, including National Company Law Tribunal (NCLT) and the Delhi High Court.