High Court (India)

May 16, 2019

S&R Associates Advices Mcdonald’s on Buyout of Its Indian Joint Venture Partner Vikram Bakshi


S-&-R-Associates

McDonald’s India Private Limited (MIPL), the local Indian unit of the US fast food chain giant McDonald’s Corporation, has announced that it has bought out its estranged Indian partner Vikram Bakshi’s 50% stake comprising voting equity shares, in their joint venture Connaught Plaza Restaurants Ltd (CPRL).

CPRL operates a chain of McDonald’s restaurants across Northern India and Eastern India.

After this acquisition, CPRL is now wholly owned by McDonald’s India Pvt Ltd (MIPL) and its affiliate McDonald’s Global Markets LLC, ending a six year dispute between Vikram Bakshi and McDonald’s Corporation.

In this deal, MIPL’s India-based joint venture partner Vikram Bakshi and Bakshi Holding Private Limited were advised by Counsel Satvik Varma. They were instructed by Anirudh Wadhwa, Abhishek Iyer and Keshav Gulati from Wadhwa Law Chambers. Additionally, Senior Counsel Akhil Sibal advised on the litigation strategy as well as the overall settlement process.

McDonald’s India Private Limited (MIPL) and other McDonald’s Group companies were advised by a team from S&R Associates led by partners Rajat Sethi, Niti Dixit and Mohit Gogia. They were assisted by associates Jagriti Mohata, Raunak Mathur and Prateek Sharma, along with McDonald’s in-house legal team comprising I-Ming Ang, Vivek Kumar and Sumit Chopra.

Earlier, Tejas Karia, Partner of Shardul Amarchand Mangaldas, along with Principal Associate Gauhar Mirza, had represented Vikram Bakshi before the National Company Law Appellate Tribunal (NCLAT) and the Delhi High Court.

Similarly, McDonald’s India Private Limited was represented before the NCLAT, the Delhi High Court and other forums, by Dua Associates Partner Amit Dhingra and Senior Associate Shivam Kumar Raheja. Partner Salil Gulati had also represented McDonald’s and its officials before various authorities and forums in relation with this dispute.

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