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'Restaurants, property owners need to work together'
Updated On: 30 March, 2020 07:03 AM IST | Mumbai | Phorum Dalal
As National Restaurant Association of India seeks moratorium on rent, landlords explain their predicament with banks; will there be a solution soon?

A restaurant in Dadar was only giving takeaways on Sunday. Pic/Ashish Raje
After writing to the Centre for a deferment of various payments, the National Restaurant Association of India (NRAI) has written an open letter to landlords asking for a waiver on rent and CAM (Common Area Maintenance) from March to at least June. Landlords, however, have asked how they can do that when they too have business to run.
NRAI has also asked for a waiver of minimum guaranteed rents for six months post resumption and a 50 per cent reduction of CAM for the same period. It has also proposed a revenue-sharing deal not exceeding 10 per cent for six months after operations resume. The letter from Anurag Katriar, President, NRAI and CEO of deGustibus Hospitality, reads, "This appeal is aimed at ensuring our mere survival during such extraordinarily troubled times; we aren't trying to profiteer at the expense of the landlords."
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