Multiplexes call for rent suspension
Top Indian multiplex players, including PVR, Inox Leisure, Cinepolis India and Carnival Cinemas, have decided to invoke the ‘force majeure’ clause and suspend rentals on their leased properties during the time cinemas remain shut due to the Covid-19 crisis. Sources across cinema chains have confirmed to media that they had individually written to the landlords and mall owners seeking waiver of rent under the ‘force majeure’ clause of their contracts. The clause excuses companies from meeting some obligations in case of certain unusual circumstances.
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