McDonald's Vs Vikram Bakshi

Bakshi's counsel sought permission to withdraw the application seeking permission to travel and requested the NCLAT to allow his wife to travel

Appellate tribunal asks Bakshi and his wife to deposit Rs 5 crore each as security before flying out of the country

It also directed Vikram Bakshi not to leave country without its permission

As part of the agreement, McDonald's will buy out for an undisclosed sum Vikram Bakshi and his entities' 50 per cet stake in Connaught Plaza Restaurants Pvt Ltd (CPRL)

Earlier this month, the high court dismissed the McDonald's plea challenging the NCLT notice on a contempt plea filed by Bakshi

At least two matters are currently on in the Delhi High Court involving the two parties

Right now 64 of them have been re-opened and by the end of this week all the 84, which were temporarily hit, will resume operation, he said

MIPL had terminated the franchise licensing agreement in September that disallowed CPRL to use the McDonald's brand name, logo and trademarks

Bakshi's response came after McDonald's India earlier alleged lapses in food quality and safety level by 'all facets of the supply chain'

McDonald's vs Vikram Bakshi: NCLAT adjourns hearing till Nov 16