This article was authored by Chandrasekhar Tampi, senior partner and Ankur Khandelwal, partner, Kochhar & Co. and published in the Indian Business Law Journal.
The spread of COVID-19 has raised multiple questions with respect to performance of commercial contracts, across the globe. While some contracts have witnessed the erosion of their foundation, others have been rendered difficult, even possible, to be performed. The article deals and will provide an insight to the Japanese corporations on the Indian law on force majeure and doctrine of frustration of contracts, including how, and in what circumstances, can parties invoke either of them. The article discusses the mitigation measures that parties may adopt as a preventive strategy. It concludes with recommendations with respect to the procedural requirements and best practices to be implemented at the stage of invocation of either force majeure or the doctrine of frustration of contract.