The session for the Developers, Builders, Agents, Architects, Engineers, Lawyers Manufacturer Chartered Accountants, Company Secretary & Cost Accountants) on “Impact of Corona Pandemic on Indian Economy and thereby triggering of Force Majeures ” Presentation and addressing your queries. Topic Coverage is as under: 1. Impacts on Real Estate Sector and Measures taken by the Government to provide relief to the Indian Real Estate Sector. 2. Impact on Manufacturing Industries. 3. Impact on EXIM Trade.
Questions asked during the session.
1. Please let us know if there are any relief packages offered by the state govt it the central government for the real estate projects who have obtained the CC but inventory is unsold?
2. What is the impact of force majeure on Commercial lease agreement?
3. Will RERA give extension to the projects due to covid-19 and lock down ?
4. What will happen to the real estate project which is already a delayed project?
5. Can rental towards warehouse be part of force majeure?
6. Can a Bank ask to provide the documents regarding renewal of credit facilities forcefully during lockdown period due to Covid-19?
7. What if an agreement don't have force majeure clause?
8. Whether force majerue clause is necessary in Agreement. Whether without having in agreement, can we give notice under this clause?
9. What is difference of forece majure clause in Rent agreement/Lease agreement/Leave and license agreement?
10. Will it become harsh to indian govt to recall previous economy?
11. For new enterprenuers will it be benficial to start?|
12. If I have bought a flat in builder's project and already getting delay possession penalty, how will it impact the things and for how long?
13. Bank is my tenant. will the force majour apply as the bank is open?
14. I just got a new property in rent one month ago and my construction work was going on and I don’t have this clause in contract will this help me in any way?
15. What if there is no force majure clause? Section 56 of indian contract act will come into play?
16. How we will be able to get an extention for our project as RERA is not considering NGT ban as force measure?
17. What happens in case lessee is doing business activity from leased premises and even sending notice to lessor showing intention not to pay rent or revenge sharing for extended period after lockdown?
18. Will it increase time barred limit under contract act?
19. I am buyer of a flat and due to Covid-19 my business is hampered badly so can I ask builder to cancel my unit in the project and refund the money, as force mejure is applicable for me also as a customer?
20. Please advise...if we have received the CC in January 3rd..the same has been informed to the buyers... possession letter has also been issued to take the possession by 14th Feb...but till date none of them have made the balance payment till date and they have not exected the registry. What steps can I take?
21. Whether rent payment of only locked down period may be covered or after shock period of 30 days /60 days may be covered for non payment of rent?
22. All the corporate rental clients are issuing letters for waiver of rent for 3 months against Force Mejure Clause. What should be our reply?
23. How this FM will work for Lease Agreements to pay the rent for this particular period?
24. Is the benefit available to the assessee on LTCG Claim ?
25. How can we claim extra expenditure due to higher cost after opening of lock down even though we get extension through force majeure?