Justice Singhvi is now expected to hear what both sides have to say on the matter.
MIPL representatives, who have two seats on CPRL's board, had attended the September 6 board meet after giving earlier meetings a miss. Bakshi and his wife, the other two board members, have been in attendance all along.
Sources say it was Bakshi who had asked for a board meet to be called at the earliest after the matter pertaining to his plea regarding the termination of the licence agreement by MIPL in the National Company Law Appellate Tribunal (NCLAT) was deferred to September 21.
Around 6,500 people are directly employed by CPRL to run the 169 outlets. While Bakshi (with Bakshi Holdings) and MIPL hold an equal number of equity shares in CPRL, over the years MIPL had pumped in Rs 193 crore against non-convertible preference shares. To initiate its business with a fresh approach and a new partner, MIPL, sources say, is now considering writing off its investments in CPRL.
Bakshi has said that he was resolute in his determination to fight the injustice by MIPL (for terminating the license agreement) that would affect the livelihood of many people.
The National Company Law Tribunal (NCLT), which show-caused MIPL last week for contempt of court, will now hear the matter on September 20.
Bakshi had pressed an application citing interference by MIPL in the affairs of CPRL for which the NCLT had sought a clarification from MIPL.