NCLAT admits HUDCO’s intervention plea claiming Rs 195 cr dues from Vikram Bakshi

| | New Delhi
  • 0

NCLAT admits HUDCO’s intervention plea claiming Rs 195 cr dues from Vikram Bakshi

Thursday, 16 May 2019 | PTI | New Delhi

The National company Law Appellate Tribunal (NCLAT) on Wednesday admitted the intervention plea filed by State-owned HUDCO claiming dues of Rs 195 crore from Vikram Bakshi, the estranged India partner of US-based McDonald’s.

A two-member bench headed by Chairman Justice  S J Mukhopadhaya accepted the intervention plea filed by the House Urban Development Corporation (HUDCO) and suggested the parties to settle the issue.

“HUDCO intervention is accepted,” said the NCLAT.

The bench has listed the matter on May 27 for next hearing.

Fast food chain McDonald’s has reached an out-of-court settlement with Bakshi, buying out Connaught Plaza Restaurants Ltd, which runs the restaurants chain of US-based fast food major in north and east India, from their joint venture.

HUDCO has filed an intervention application before the NCLAT, seeking its dues from Bakshi, before the deal with McDonald’s is over.

State Editions

Admission for UG courses begins in city colleges

22 May 2019 | Divya Modi | Ranchi

BJP trying to lure Cong MLAs, says Nath

22 May 2019 | Staff Reporter | Bhopal

Matching VVPAT slips would delay results: CEO

22 May 2019 | Staff Reporter | Bhopal

BSP suspends Ramveer Upadhyay

22 May 2019 | PNS | Lucknow

12 killed in mishaps

22 May 2019 | PNS | Lucknow

Sunday Edition

Globe Trotting

19 May 2019 | Agencies | Sunday Pioneer

Left, TMC urge EC to ensure free, fair polling

19 May 2019 | PNS | Sunday Pioneer

Didi’s nephew sends defemation notice to PM

19 May 2019 | Saugar Sengupta | Sunday Pioneer

MoD rejects Vice Admiral Bimal Verma's petition

19 May 2019 | PNS | Sunday Pioneer