Justice R K Gauba rejected McDonald's plea and said the reasons for it will follow soon in the judgement, which is not yet available.
The court had earlier put on hold the show cause notice issued by the NCLT.
McDonald's in its plea had contended that in the absence of rules for conduct of contempt action under section 425 of the Companies Act read with the Contempt of Court Act, such proceedings would deprive it and others of their fundamental rights.
Bakshi had moved the contempt plea alleging that the fast-food major's decision to terminate his franchise license with regard to 169 outlets run by their 50-50 joint venture Connaught Plaza Restaurant Ltd (CPRL) violated the NCLT order of July 13, 2017.
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McDonald's India had asked CPRL not to use its brand system, trademark, designs and associated intellectual property among other things, within 15 days of the termination notice, which had expired on September 6, 2017.
Bakshi had moved the NCLT following termination of the license by McDonald's India Pvt Ltd (MIPL).
In June 2017, 43 outlets of the fast food chain were closed in the capital following expiry of its eating house licences.
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