The National Company Law Tribunal’s strongly worded judgement gives Vikram Bakshi the edge in his battle with McDonald’s, but the fight is far from over
Bakshi and McDonald’s have been at loggerheads ever since he was unceremoniously ousted as the Managing Director of CPRL in August 2013.
“The proceedings of the meeting of the Board of Directors held on 06.08.2013 relating to re-election of Mr Vikram Bakshi as the Managing Director of the Company are set aside and declared illegal, unjust and mala fide,” the judgement says. “The status of Mr Vikram Bakshi as Managing Director is restored.”
What led to McDonald’s loss of trust in its partner who had once been the very face of the brand in India? Bakshi’s real estate business was part of the problem. McDonald’s alleged he had leased out his property to a rival company, hinting at a conflict-of-interest scenario.
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