Multiple companies have invoked the principle of ‘force majeure’, which lets a party off the hook in case of unforeseen ‘acts of God’, to avoid penalties.
Court awarded Rs 18 lakh to the family of a man who was severely injured after a Bank of Baroda signboard fell on him, rejecting bank's claim that an 'Act of God' had led to accident.
Repeated changes in cotton import duty have prioritised textile competitiveness when mills face high input costs. But policy can also put pressure on farmgate prices.
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