Supreme Court refuses to stay McDonalds' arbitration proceedings against Vikram Bakshi

NEW DELHI: The Supreme Court on Tuesday refused to stay international arbitration proceedings initiated in London by McDonalds against its estranged Indian partner Vikram Bakshi.

"Sorry," Justices Jasti Chelameswar and Abhay Manohar Sapre, said after hearing senior advocate Abhishek Manu Singhvi, appearing for Bakshi, when he sought a stay on arbitration proceedings.

Singhvi argued that the proceedings before the Company Law Board and the Arbitral Tribunal were essentially the same and would only multiply litigation. He also argued that the joint venture agreement between the two sides had a very limited arbitration clause.

Everything was to be dealt with under Indian law and courts. Only "unresolved" issues were to be referred to arbitration, he argued. But to no avail. The bench did not agree, insisting that they were separate issues.