NCLAT keeps Bakshi deal with McDonald's on hold, bars him from going abroad

Two-member bench headed by Justice S J Mukhopadhaya says prima facie there is a case for deal to be stayed for now and the case to be heard on merits

In fresh trouble for former McDonald's India head Vikram Bakshi, the National Company Law Appellate Tribunal (NCLAT) on Wednesday barred him from leaving the country without informing it or the Debt Recovery Tribunal (DRT) first. The appellate tribunal has also said that the deal between Bakshi’s Connaught Plaza Restaurants Limited (CPRL) and McDonalds India would not be given effect to until further orders.

Hearing the Housing and Development Corporation (Hudco)’s plea that the deal CPRL and McDonalds India has been done in contravention to the DRT’s orders, a two-member Bench headed by Chairperson Justice S J Mukhopadhaya said that prima