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169 McDonald’s outlets across Northeast region to shut down today

By Newsd
Updated on :
McDonald’s buys out Vikram Bakshi, temporarily shuts 165 outlets in India
Image: Indiamarks

McDonalds India will close down its 169 stores across the entire north and east region from Wednesday. McDonald’s has said that Connaught Plaza Restaurants Ltd (CPRL) will not be authorised to use its brand name and trademark starting from 6 September as they ended agreement.

The development has increased uncertainty over the livelihood of more than 10,000 employees. The fast-food giant that operates in the nation through two franchisees, had ended the agreement with Connaught Plaza Restaurants Ltd (CPRL). The termination notice period ended on 5 September. McDonald’s India told CPRL not to use its brand within 15 days of the termination notice.

In the meantime, the National Company Law Tribunal (NCLT) issued a show-cause notice to McDonald and its Indian arm over the contempt plea filed by their separated Indian partner, Vikram Bakshi.

Reportedly, Bakshi had filed a contempt petition alleging that by terminating the licence the US-based food giant has violated NCLT order dated July 13. The order reinstated him as the Managing Director of CPRL and also refrained McDonald’s Corporation to interfere in the operation of CPRL.  McDonald’s and its Indian arms had said that they have already filed an appeal against NCLT’s order before the NCLAT.