Sunday, March 3

Tag: VIKRAM BAKSHI

McDonald’s Running its Indian Business Amid all The Losses
BUSINESS

McDonald’s Running its Indian Business Amid all The Losses

The world’s largest fast-food chain McDonald’s is reportedly facing a huge amount of loss in India. McDonald’s India has announced its biggest loss amounting to INR 305 crore in the financial year ending in March 2017, after canceling the investments in Connaught Plaza Restaurants (CPRL) which ought to be its licensee partner. All this was because of a five-year-old official disagreement with CPRL. In this regard, McDonald’s India said, “Considering that CPRL is having significant accumulated losses as of date and considering that the company has terminated all its franchise arrangements in favour of CPRL, the management feels that its investments in CPRL are impaired and accordingly a provision of Rs 198.20 crore has been considered in the financial statements of the company for diminu...
McDonalds Vs Bakshi: NCLAT To Study LCIA Award Before Further Action
News

McDonalds Vs Bakshi: NCLAT To Study LCIA Award Before Further Action

The National Company Law Appellate Tribunal (NCLAT) today said it will study the award of the London Court of International Arbitration (LCIA) that asked McDonalds estranged partner Vikram Bakshi to sell his stake in the JV firm CPRL to the US-based fast food chain last week. (more…)
McDonalds Dispute Puts Channel Partners At A Sticky Spot
News

McDonalds Dispute Puts Channel Partners At A Sticky Spot

Food and raw material suppliers, mall operators and employees of McDonalds are an agitated lot these days because of its decision to close 169 outlets across north and east India in view of its legal battle with franchise partner Vikram Bakshi. (more…)