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New Delhi, Feb 3 () US fast food chain McDonald's has selected MMG Group chairman Sanjeev Agrawal as its new partner to operate its outlets in north and east India, the company said.
 The development comes almost nine months after McDonald's bought estranged partner Vikram Bakshi's 50 per cent stake in Connaught Plaza Restaurants Ltd (CPRL), a joint venture, which has the licence to run its restaurants in north and east India.
 A McDonald's spokesperson said Agarwal is the new partner of the company for the two markets.
 "Agrawal has a strong understanding and passion for the McDonald's brand, insights into the local market, and a proven track record of driving quality and innovation in the food and beverage and hospitality industries," said McDonald's Asia Director Corporate Relations Barry Sum.
 Agrawal (55) is the group Chairman of MMG Group, which has interests in bottling and marketing of soft drinks, oil and gas, hospitality, among others.
 MMG Group also controls Moon Beverages, which is among the key bottlers for American beverage maker Coca-Cola in north India from 1994 and is manufacturing and distribution of Coca Cola, Limca, Sprit, Maaza, Thums UP, Fanta, Minute Maid, Coke Zero &amp; Kinley.
 Sum added that Agrawal is the right strategic partner for McDonald's to grow its brand presence in north and east India.
 McDonald's, however, has not share the terms and condition of the agreement. 
 Agarwal could not be contacted till filing of the story.
 The company also refrained to comment on the ongoing matter between McDonald's and its former JV partner Vikram Bakshi before the National Company Law Appellate Tribunal (NCLAT), where state-run HUDCO has opposed sale/transfer of share by Bakshi to the fast food chain after settlement.
 "McDonald's remains a shareholder of CPRL, and continues to hold the shares that were acquired from Vikram Bakshi and his holding company in CPRL," said Sum, adding that Robert Hunghanfoo continues to head CPRL.
 In May last year, McDonald's had announced an out-of-court settlement agreeing to buy Bakshi's stake in their joint venture.
 The details of the pact, including financial terms, were not disclosed.
 They has approached the National Company Law Appellate Tribunal, to withdraw the suits, filed against each other, however, it was opposed by the state run Housing and Urban Development Corporation (HUDCO).
 HUDCO, which is claiming dues of Rs 194.98 crore from Bakshi and his related entities, in its intervention plea filed before the NCLAT, informed that notices regarding orders of the debt recovery tribunal (DRT) was already served to both the partner.
 HUDCO had contended that the said settlement is against the interim order passed by the DRT in a case pending against Vikram Bakshi.
 In September 2019, NCLAT had said it would review the settlement between fast food major McDonald's and its Indian partner Vikram Bakshi over the sale of his shares in Connaught Plaza Restaurants Ltd (CPRL).
 NCLAT had said the settlement reached between McDonald's and Bakshi was prima facie in violation of a DRT order. KRH ANS
ANS
ANS

McDonald's selects Sanjeev Agrawal as new partner for north, east India markets

<ul><li>A 50:50 joint venture between Connaught Plaza Restaurants Pvt. Ltd (CPRL) and <keyword id="6378093" type="UNKNOWN" weightage="20" keywordseo="mcdonalds">McDonald's</keyword> India runs 169 outlets in North and East India.</li><li>In August 2017, McDonald’s terminated its agreement with CPRL, but the Indian venture is still operating while the dispute is being examined by the courts. </li><li>Domino’s Pizza operator <keyword id="129118" type="COMPANY" weightage="20" keywordseo="Jubilant-Foodworks-Ltd-">Jubilant FoodWorks Ltd.</keyword> profits more than tripled to 660 million rupees in the quarter ending December 2017. </li><li>Domino’s Pizza is slated to open up at least 30 additional outlets to add to its 1,127-strong network across 265 cities this year. </li><li>The market for fast-food in India is expected to expand 5.8 percent to $21.2 billion this year.</li></ul>While the world is veering towards healthy foods, Indians have not deterred from their dedication to their Domino’s chicken tikka pizza - a point made amply clear by the fact that parent company Jubilant FoodWorks’ profit more than tripled to 660 million rupees in the quarter ending December 2017. This may be because Indians prefer pizzas to burgers, but the more plausible reason could be that Domino’s is profiting off the bitter legal battle that McDonald’s franchise operator in India is embroiled in. The McDonald’s Downfall Led by <keyword id="193724" type="PERSON" weightage="20" keywordseo="Vikram-Bakshi">Vikram Bakshi</keyword>, Connaught Plaza Restaurants Pvt. Ltd (CPRL), a 50:50 joint venture between him and McDonald's India, runs 169 outlets in North and East India. A nasty legal battle ensued when McDonald's proposed to buy out Vikram Bakshi’s (MD, Connaught Plaza Restaurants Pvt. Ltd.) stake in 2008. They offered him $5 to 7 million but Bakshi wanted $100 million after Grant Thornton valued CPRL at $331million. In August 2013, McDonald’s ousted Bakshi as managing director of CPRL over alleged financial irregularities. Bakshi in-turn filed a complaint with the Company Law Board (now the National Company Law Tribunal or NCLT) in September 2013 claiming that McDonald’s was trying to strong-arm him into selling his share to them at a lower valuation. In July 2014, <a href="https://www.livemint.com/Companies/PJVjPgc9oU6dtUFoNbRfcN/NCLT-reinstates-Vikram-Bakshi-as-MD-of-McDonalds-joint-vent.html">NCLT reinstated Vikram Bakshi as MD</a> of CRPL. In June 2017, <a href="https://qz.com/1058465/want-to-know-why-mcdonalds-may-shut-down-in-half-of-india-ask-its-first-indian-business-partner/">43 outlets of the fast-food chain were closed</a> in the capital following the expiry of its eating house licences. In August 2017, McDonald’s terminated its agreement with CPRL, though the Indian venture has kept running its 169 outlets while the dispute is being examined by the courts. In the middle of all this, <a href="https://timesofindia.indiatimes.com/business/india-business/over-half-of-mcds-outlets-close-down-in-north-east-india/articleshow/62246480.cms">in December 2017</a>, burger-loving Indians woke up to a rude shock when 84 McDonald’s in North and East India were shut down after its supply chain partner Radhakrishna Foodland discontinued supplies due to the alleged non-payment of dues. Most of the outlets subsequently reopened a month later. “Our growth has completely petered off,” Vikram Bakshi told The Economic Times. However, not all is bleak for McDonald’s. <keyword id="6211434" type="COMPANY" weightage="20" keywordseo="Westlife-Development-Ltd-">Westlife Development Ltd.</keyword>, the other McDonald’s franchise partner that runs 271 stores in the Southern and Western parts of India plans to expand to as many as 500 outlets by 2022, according to a company spokeswoman. Domino’s Jubilant Story With all this unfolding, it is but natural that rivals like Domino’s, KFC, Burger King and Subway have been able to make hay while McDonald's sun has dimmed. In 2013, while Bakshi was busy fighting McDonald’s, Domino’s conveniently overtook McDonald’s as India’s largest fast-food brand. According to <a href="https://economictimes.indiatimes.com/industry/cons-products/food/mcdonalds-has-a-legal-problem-in-pizza-loving-india/articleshow/63498024.cms">the Economic Times</a>, shares of India’s Domino’s Pizza operator Jubilant FoodWorks Ltd. have more than doubled in the past year. And this year, it is slated to open up at least 30 additional outlets to add to its 1,127-strong network across 265 cities. According to a transcript of a conference call between analysts and investors and Chief Financial Officer (CFO) of Jubilant FoodWorks, Pratik Pota, the CFO said, “There is significant potential for the pizza business in the country, and we are committed to leveraging that potential.” As a result of India’s growing economy and its youth population, the market for fast-food in India is expected to expand 5.8 percent to $21.2 billion this year -- a 50 percent jump since 2008 -- according to Euromonitor International, a market research firm. Until McDonald’s promoters in India can resolve their dispute, which looks unlikely at the moment, its competitors can continue to forge ahead.

Battle of the fast food brands: How Domino’s is cashing-in on McDonald’s weak position

It has been seen in the past that multi-national partnerships and joint ventures in <keyword id="3658" type="COUNTRY" weightage="80" keywordseo="India">India</keyword> come to an abrupt end or a staggering slow after years of working together. This time the war is between <keyword id="14775" type="CITY" weightage="80" keywordseo="McDonalds">McDonalds</keyword> India and their joint venture partners <keyword id="1849963" type="UNKNOWN" weightage="80" keywordseo="Connaught-Plaza-Restaurants-Ltd">Connaught Plaza Restaurants Ltd</keyword> (<keyword id="1863077" type="UNKNOWN" weightage="80" keywordseo="CPRL">CPRL</keyword>). The two entered into a 50-50 partnership 18 years ago and now everything seems to be in a boil. 
 In august this year, McDonalds had asked <keyword id="193724" type="PERSON" weightage="80" keywordseo="Vikram-Bakshi">Vikram Bakshi</keyword>, MD of the company to step down. Reports suggest that Bakshi had been sent a notice by McDonalds India and now as a counter he has written to his colleagues challenging the notice. CPRL has come back and said that the US based chains intentions are to end the JV between the two companies and is ill-intentioned. 
 The <keyword id="41450" type="UNKNOWN" weightage="80" keywordseo="Feud">feud</keyword> between Bakshi and McDonalds started when two of the board members rejected the plea to re-nominated Bakshi as the MD in August 2013. On August 30, McDonalds removed Bakshi as the MD and said that the Indian leg will now be lead by the board instead. The battle seems to be growing as the days are passing and the future of the JV is in the pits. A quick solution is required for one of the biggest fast food chains in the country to perform well. Sources also tell that <keyword id="6357311" type="ORGANIZATION" weightage="80" keywordseo="courts">courts</keyword> are being moved on the issue, but nothing official has come out of it yet.

War Between McDonalds India And CPRL (Bakshi) Continues To Grow

<keyword id="126895" type="ORGANIZATION" weightage="20" keywordseo="McDonald">McDonald</keyword>'s has banned its partner- <keyword id="1849963" type="ORGANIZATION" weightage="20" keywordseo="Connaught-Plaza-Restaurants-Ltd">Connaught Plaza Restaurants Ltd</keyword> (<keyword id="1863077" type="ORGANIZATION" weightage="20" keywordseo="CPRL">CPRL</keyword>) to use its brand name and trademark starting September 6, implying that 169 stores of the burger-and fries brand face closure across the entire north and east region from yesterday. The closure of stores could have adverse impact on thousands of lives and businesses as this will cause widespread damage to the lives of over 10,000 Indians (directly and indirectly), the company, the suppliers and all business associates. CPRL, the 50:50 joint venture between McDonald's and <keyword id="193724" type="PERSON" weightage="20" keywordseo="Vikram-Bakshi">Vikram Bakshi</keyword>, MD, CPRL operates McDonald's stores in north and east India. Relations between the two partners have been estranged for the last several years. On August 21, the US burger and fries chain terminated its agreement with CRPL, and asked the latter to stop using all branding and intellectual property of McDonald's within 15 days. The impact The potential closure impacts the quick service restaurant industry's largest brand, its over 7,000 employees, suppliers such as <keyword id="4976292" type="ORGANIZATION" weightage="20" keywordseo="vista-processed-foods">Vista Processed Foods</keyword> and Schreiber Dynamix Dairies, besides multiple store owners. Of the 169 stores, only a handful were owned directly by Bakshi, while majority of the stores were under leases by different store owners. Of the 169 stores that are impacted, 43 are already closed for the last two months, on account of non-renewal of eating house licences by local authorities. Bakshi had challenged McDonald's termination notice at the NCLT. He had also filed another plea against the US company, alleging that the latter continued to interfere in the operations of CPRL — the equal 50:50 joint venture between the two. The NCLT asked Bakshi to seek relief from the National Company Law Appellate Tribunal (NCLAT) which has refused interim relief forcing CPRL to close 169 outlets for atleast some time. The joint venture between McDonald's and Bakshi first faced headwinds in 2013, with McDonald's accusing its partner of financial irregularities and removing him as managing director of CPRL. Bakshi was reinstated as MD of CPRL in July 2017 by the NCLT. McDonald's had said last month that it was compelled to terminate the agreement because CPRL has "materially breached the terms of the respective franchise agreements relating to the affected restaurants, and has failed to remedy the breaches despite being provided with an opportunity to do so in accordance with the agreements". Image credits: Buzzfeed Video

169 McDonald’s stores have to close shutters in India

If you stay in Delhi and have a craving for a <keyword id="126895" type="CITY" weightage="20" keywordseo="McDonald">McDonald</keyword>'s meal, you’ll possibly face a tough time because as many as 43 outlets of the fast-food chain are shutting down. Yes, the infighting between Connaught Plaza Restaurants (CPRL) and McDonald’s took an ugly turn as a result of which the CPRL board decided to shut out the outlets. CPRL is a 50:50 local joint venture between Vikram Bakshi and McDonald's that operates the fast food chain in north and east India\. "It's unfortunate, but operation of 43 restaurants operated by CPRL has been temporarily suspended,” Vikram Bakshi, former managing director of CPRL, which operates 168 restaurants, told ET. ET quoted sources as saying the CPRL failed to get the mandatory regulatory health licences renewed because of the infighting between Bakshi and McDonald's. The move, they point out, will render over 1,700 employees jobless. However, a McDonald’s statement said, “We understand that CPRL is retaining the employees of affected restaurants and will pay them their salary during the period of suspension.” Brand strategist Harish Bijoor told ET that unless McDonald's sorts out its legal battle, things might worsen. "Every passing day is a slur on the front-end brand,” he said, adding that there is nothing really bigger than the brand. Meanwhile, McDonald’s in a statement said it is committed to ensuring that the restaurants are operating in full compliance with McDonald’s standards and applicable regulations. “The Eating House Licenses of a number of McDonald's restaurants in Delhi have expired. The Board of Connaught Plaza Restaurants Private Limited is working to obtain the required licenses. Pending this, CPRL is temporarily suspending the operations of the affected restaurants,” the statement read. We apologize for the inconvenience this has caused. Our greatest concern is always for our customers and employees, and we are committed to doing what it takes to ensure compliance, the statement added. The fast-food joint stated India continues to be an important market for McDonald’s and "we are committed to working with CPRL to resolve the issue as soon as possible."

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