Reopening of malls will reduce chances of conflict with retailers over rent: official

After standalone shops are

allowed to reopen in the lockdown 3.0, shopping mall owners have sought permission from the government to resume operations, and this may reduce the possibility of a conflict between them and retailers over rent, officials said.

All major retailers of shopping malls recently sought waivers and relaxation in rentals in the wake of losses because of the Covid-19 triggered lockdown.

"Retailers are in favour of enforcing the force majeure clause, to which mall owners objected and the matter may get dragged to court," a mall management executive told PTI, declining to be quoted.

The 'force majeure' clause provides temporary reprieve to a party from performing its contractual obligations because of some event can be neither anticipated nor controlled.

"However, profits or losses of retailers cannot be farther associated with the enforced closure, if malls are allowed to reopen," the executive said.

Malls have been closed across the country since ...