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FORCE MAJEURE ADVISORIES
India has 60 days of crude oil, 60 days of Natural Gas & 45 days of LPG rolling stock: CentreIndia is launching a national mission to conserve fuel amid global energy market turmoil. The government assures citizens of robust energy ...- West Asia conflict: Early signs of stress visible across sectors, says FICCI reportThe report emphasises that this crisis, while being challenging, also presents an opportunity for India to accelerate structural reforms ai...
- From Red Sea to Hormuz: Why MSMEs must rethink risk coverGeopolitical risks are now a business reality for Indian MSMEs. Conflicts disrupt supply chains and trade routes, causing significant finan...
- 'Act of God' clause sought in procurement of IT hardware as component prices surge, supply tightensIT hardware suppliers in India are urging the government to issue force majeure advisories for public procurement of electronics. Soaring c...
- Rice exporters urge govt to recognise Iran crisis shipping disruption as force majeureIndian Rice Exporters' Federation seeks government intervention for shipping disruptions linked to the Iran crisis. They request official r...
- Oil retreats on oversupply worriesIn early Asian trading, the oil market has encountered a downward shift, reflecting anxieties over oversupply that are outpacing optimism f...
- MahaRERA invokes force majeure, extends projects’ completion deadline by six monthsThe said automatic extension will not be available to projects that were to be completed before April 15, 2021. With this, realty developer...
- Karnataka RERA Extends Hsg project completion deadline by 3 monthsWith this, the state authority has extended the deadline twice, offering relief of a total 9 months for registered projects to finish the w...
- Govt advises states, UTs to extend time-bound realty permissions validity by 9 monthsThe ministry has issued this advisory after holding discussions with state governments, municipal corporations and NOC issuing central agen...
- Karnataka Real Estate Regulatory Authority extends project deadline by six monthsFollowing the central government’s advisory, it has classified the COVID-19 pandemic as force majeure and has also extended the time limits...
- Covid Impact: 43 out of 153 listed entities avow pandemic’s material impactCompanies see impact on future revenues, costs and contracts due to Covid-19 crisis
- Lockdown: UP-RERA invokes 'force majeure', builders get 6-month extension to complete projectsThe six months extension will also be provided to such projects that have already availed one-year extension as provided in the RERA Act on...
- MahaRERA invokes force majeure to provide relief till September 15Experts say developers should not use the provision to delay rent to buyers in redevelopment projects.
- Realtors get 6-month breather on deadlinesState-specific RERA authorities can extend the deadlines by another three months. Any project that was scheduled to be completed on or afte...
- Homebuyers’ body FPCE, MP Rajeev Chandrasekhar oppose 6-month extension for project completionAmong the state authorities, Maharashtra, Karnataka and Uttar Pradesh have extended the project completion deadlines by 3 months, while Mad...
- Housing Minister says special advisory to save homebuyers’, realty stakeholders’ interest soonIn an urgent meeting of Central Advisory Council (CAC) constituted under the provisions of Real Estate (Regulation and Development) Act, 20...
- Homebuyers’ body opposes developers’ plea to amend structural defect liabilityThe Forum for People’s Collective Efforts (FPCE), a pan-India homebuyers’ association, has objected to realty developers’ proposal to amend...
- CAC members seek panel notification to persuade West Bengal to adopt RERABoth RERA and West Bengal’s HIRA differ on the definition of force majeure clause and garage.
- Homebuyers' body FPCE seeks PM, President's intervention on RERA redundancyFPCE requests President not to give assent to West Bengal’s separate state-level legislation Housing & Industrial Regulation Act, 2017 (HIR...
- Can HIRA and RERA co-exist? Government to decideUnder RERA, force majeure clause can be invoked only in case of war, draught, floods, earthquake, fire or any other natural calamity affect...
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