The outbreak of COVID-19 has impacted almost all the
sectors of the Indian economy, including the retail segment. While
businesses have come to a standstill, retailers are struggling to
find a way out from the losses that are now multiplying at a fast
pace. Rent is also one of the pivotal aspects that is bothering the
retailers nowadays.
As social distancing becomes the new norm, retailers of all
sizes are facing the wrath of decreased demand, supply-chain
disruptions, payment of rent, and even mandatory closures. Here are
some of the common issues plaguing the retail industry in the times
of distress and some legal aspects to be remembered while
renegotiating lease agreements.
To apprise, a commercial lease agreement is a formal document
executed between a landlord and a tenant to rent business property,
which is governed by the rent control legislation of a particular
State. The agreement allows both parties to formalise the lease and
their relationship through a
