Write a short note on non commercial establishments in present pandemic?
Answers
The COVID-19 pandemic in India is part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first case of COVID-19 in India, which originated from China, was reported on 30 January 2020. India currently has the largest number of confirmed cases in Asia, and has the second-highest number of confirmed cases in the world after the United States, with the number of total confirmed cases breaching the 100,000 mark on 19 May, and 1,000,000 confirmed cases on 17 July 2020. On 29 August 2020, India recorded the global highest spike in COVID-19 cases on a day with 78,761 cases surpassing the previous global highest daily spike of 77,368 cases which was recorded in the US on 17 July 2020.
The World Health Organisation (WHO) declared COVID-19 as a “pandemic” on March 11, 2020.
The outbreak and the rapid spread of COVID-19 has sent shock waves across global markets. It has disrupted supply chains, leading to the closure of several manufacturing facilities globally; serious disruption of air and sea traffic and closure of vital air routes, like the one between the US and Europe. This is turn has led to the collapse of stock markets around the world, leading to the loss of billions of dollars, which got wiped out in a matter of days. A combination of all these factors has led to a decline in the overall volume of global economic activity, forcing the world economy towards a possible recession. It is forcing Boards across the globe to confront a host of difficult questions on how business should be conducted during a global public health crisis.
We have received several queries regarding the impact of COVID-19 outbreak on businesses. CAM’s crisis management team is closely monitoring this global pandemic and its impact. Our legal professionals are well equipped to provide guidance to clients in this urgent and rapidly developing situation. To provide preliminary assistance to Indian businesses, we have prepared these FAQs to highlight some of the COVID-19 pandemic related key legal issues that companies should be thinking about in the current environment. You may refer to our earlier publication providing high-level analysis of the COVID-19 impact on India Inc.