Estranged partners McDonald's and Vikram Bakshi Monday told the NCLAT that they are working towards an out-of-court settlement to end their over five-year-old dispute.
Counsels for McDonald's India Pvt Ltd and Vikram Bakshi told a two-member National Company Law Appellate Tribunal (NCLAT) bench, headed by Chairperson S J Mukhopadhyay, that they are trying to work out a settlement.
The bench directed that either of the parties may file an affidavit including the terms of the settlement being arrived at on the next date of hearing on May 13.
"... parties submit that they are negotiating for settlement but the impugned order may come in their way of settlement. In the facts and circumstances, we allow the parties to reach settlement uninfluenced by any of the order passed by the Tribunal or this Appellate Tribunal," said NCLAT.
The Tribunal also gave them additional time to file the affidavit.
"Post both the appeals 'for orders' on 13th May, 2019 and earlier date (8th May) fixed stands modified," it said.
The bench also said: "In the meantime, if any settlement is reached, any of the party may file affidavit giving the date of settlement."