Force Majeure Subject – Economy Context – Investigations must be carried out against former top officials at the Department of Space (DoS) who suppressed crucial information related to the Devas-Antrix deal which led the Cabinet to cancel the agreement in 2011 citing force majeure instead of fraud, a key official who was entrusted […]

Subject: Economy Context: RBI given moratorium period expired on August 31 so people sought a complete waiver of interest for the moratorium period. Concept: The term ‘force majeure’ has been defined in Black’s Law Dictionary, as ‘an event or effect that can be neither anticipated nor controlled. From a contractual perspective, a force majeure clause […]

Subject: Economy Concept: The term ‘force majeure’ has been defined in Black’s Law Dictionary, as ‘an event or effect that can be neither anticipated nor controlled. From a contractual perspective, a force majeure clause provides temporary reprieve to a party from performing its obligations under a contract upon occurrence of a force majeure event. While […]