Estranged partners McDonald’s and Vikram Bakshi on Thursday announced an out-of-court settlement, ending their almost six-year-long dispute.

As part of the agreement, the US fast food chain will buy out for an undisclosed sum Vikram Bakshi and his entities’ 50 per cent stake in Connaught Plaza Restaurants Pvt Ltd (CPRL) that operates McDonald’s chain of quick service restaurants in northern and eastern India.

The company also announced the appointment of Robert Hunghanfoo as head of CPRL with immediate effect, who will be supported by McDonald’s global leaders along with the CPRL team, to facilitate a smooth transition.

“CPRL is now wholly owned by MIPL and its affiliate MGM (McDonald’s Global Markets LLC) following the completion of a settlement reached with former joint venture partner, Vikram Bakshi,” the company said in a statement.

It follows “the acquisition by MGM of 50 per cent voting equity shares in Connaught Plaza Restaurants, held since inception by Bakshi and his affiliated entity”.

During the transition, MIPL will be focused on providing employees with clarity and confidence in their future at McDonald’s.