Mall developers and retailers are yet to find common ground on the contentious issue of rental waivers, with the differences coming at a time when the retail industry, barring grocery, has come to a halt because of the 21-day nationwide lockdown.
Developers, such as DLF and Phoenix Mills, say the force majeure clause, which retailers have indicated they would apply, in case there was a complete breakdown in talks, does not apply to the lockdown period. "We will have to work with retailers (on the issue of rentals). We can take a call only after visibility regarding mall openings emerge,"