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The London Court of International Arbitration (LCIA) in a hearing on Wednesday ruled in favour of McDonald’s Corporation in its dispute with estranged partner Vikram Bakshi.
The case pertains to the valuation of Bakshi’s holding in the joint venture company Connaught Plaza Restaurants (CRPL) by McDonald’s, which the former had said was lower than what it actually was. Bakshi had proposed to buy out McDonald’s stake in the 50:50 JV minus the brand, after he spurned the fast food chain’s offer to buy out his stake for $7 million (Rs 41 crore) in 2008.
Bakshi got independent audit firm Grant Thornton to
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