DRT asks Vikram Bakshi, McDonald's India to deposit settlement funds

Matter related to loan given to Bakshi's Ascot hotel in 2006, Hudco wants Rs 195 crore dues settled

The Delhi Bench of Debt Recovery Tribunal (DRT) has asked Connaught Plaza Restaurants’ (CPRL) Managing Director Vikram Bakshi (pictured) and McDonald’s India to appear before it and deposit the proceeds of their proposed settlement.

The DRT has also asked Bakshi not to transfer nearly 3,100 shares of CPRL and asked him to share details of the rates of the shares as on date.

CPRL and McDonald’s have been asked to appear after  Housing and Development Corporation (Hudco) had moved an application alleging that Bakshi owed nearly Rs 195 crore to them. Hudco had in 2006 given a loan of Rs