Vikram Bakshi barred from leaving the country


New Delhi, Sep 18 (IANS): Erstwhile McDonald's India partner Vikram Bakshi has been barred by the National Company Law Appellate Tribunal from leaving the country.

Bakshi is facing the heat on multiple fronts as a Tis Hazari court has summoned him on October 11 for fraud and conspiracy in a complaint filed by Montreaux Resorts.

A division Bench of NCLAT composed of Justices S.J. Mukhopadhyaya and Bansi Bhat has barred Vikram Bakshi from leaving India without prior permission of DRT, DRAT and NCLAT unless HUDCO's dues of around Rs 175 crore are cleared first.

It has also observed that the settlement proceedings between McDonald's and Vikram Bakshi are liable to be declared null and void and the position restored to status quo ante.

During last hearing, NCLAT had given Bakshi the last chance to settle the dues with HUDCO, which is claiming Rs 194 crore in dues.

Having been barred by the NCLAT from leaving the country, Vikram Bakshi is facing heat in another case as he has been summoned in the court of Rakesh Kumar Singh, the Metropolitan Magistrate Tis Hazari, New Delhi, on October 11 on a complaint of forgery, fraud, and cheating lodged by Deepak Khosla of Montreaux Resorts.

The Magistrate has summoned the Company Secretary, Vikas Gera, Bakshi's CEO, Wadia Parkash and Director (Finance) Vinod Surha for violations of Sections 193, 467, 209 of the IPC, among others. The offences are non-bailable, and carry punishment of life imprisonment, or rigorous imprisonment for 10 years.

As per the order issued on September 9, the court said that it is convinced that a case of conspiracy is made out through creation of false minutes.

The allegations relate to attempts by Vikram Bakshi to take over resort project Montreaux Resorts (P) Ltd, that is implementing a 5-star Leela Hotel and spa at Kasauli. The complaint states that Vikram Bakshi fabricated and forged minutes of a non-existent Board meeting purported to have held on June 14, 2006 and an AGM Minute purported to record the AGM meeting allegedly held on September 30, 2006 by showing Sonia Khosla present in New Delhi, when she was in China and UK, respectively, on those dates.

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