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After dozens of hearings and nearly four years of court drama, Vikram Bakshi, ousted managing director of Connaught Plaza Restaurants Pvt Ltd (CPRL), is set to regain his position.
The principal bench of the National Company Law Tribunal (NCLT), a quasi-judicial body overseeing company affairs, has reinstated him; an order it issued on Thursday declared the steps towards his ouster in August 2013 “illegal, unlawful, unjust and malicious”.
The NCLT bench of M M Kumar, president, and S K Mohapatra, member, also appointed an administrator, former Supreme Court judge G S Singhvi, to “break the impasse” on the board of directors. He
