Hudco wants Rs 190 cr bite out of McDonald's-Bakshi deal, moves NCLAT

NCLAT agrees to hear Hudco plea on Wednesday; dues related to Bakshi-owned Ascot Hotels & Resorts

Housing and Development Corporation (Hudco) has approached the National Company Law Appellate Tribunal (NCLAT) with the claim that it is owed Rs 190 crore dues by a company owned by Vikram Bakshi, the managing director of Connaught Plaza Restaurants Limited (CPRL). 

Hudco sought to be heard by the NCLAT before it gives its final approval to McDonalds India Private Limited- Vikram Bakshi out of court settlement. The NCLAT has agreed to hear Hudco's plea on Wednesday.

Bakshi-owned and privately held Ascot Hotels & Resorts reportedly owes around Rs 100 crore to Hudco on unpaid loans, among other penalty charges since