DCM Delhi High Court Dismisses GCD Prime Petition

DCM Limited issued Notice of Forfeiture and Termination to GCD Prime (Developer) under Joint Development Agreement dated August 11, 2022
Board meeting held on November 1, 2025 (1:30 PM to 1:50 PM) approved the termination
Termination reason: Inordinate delay and continuing breaches by Developer in obtaining revocation of suspension order for project license
Developer paid amounts to DCM under JDA to be forfeited after 15 days from notice receipt
JDA concerned development of 68.35 acres of company land at Village Bir Hisar, Sector-23, Hisar, Haryana under Deen Dayal Jan Awas Yojana-2016 (DDJAY-2016)

License No. 179 of 2022 obtained on November 7, 2022 from Director, Town and Country Planning, Haryana
HRERA Registration No. HRERA-PKL-HSR-427-2023 obtained on March 15, 2023
License suspended on April 18, 2023 by Director General, Town and Country Planning, Haryana
HRERA registration kept in abeyance, escrow account (HDFC Bank A/c No. 00030350008901) frozen

Company received Section 21 notice under Arbitration and Conciliation Act, 1996 from GCD Prime on March 18, 2026
Notice invoked arbitration under Clause 14 of JDA
Financial implication: Not determinable at that stage

Hon'ble Delhi High Court order dated July 28, 2026 dismissed GCD Prime's Section 9 petition
Order received by company at 7:30 PM on July 28, 2026
Court dismissed prayers for:
Stay on Termination Notice dated November 1, 2025
Restraint on DCM from interfering with GCD Prime's legal rights concerning the land
Restraint on creating third-party rights on the land

Case: O.M.P.(I) (COMM.) 472/2025 (M/S GCD PRIME vs DCM LIMITED)
Judgment reserved on: March 19, 2026
Judgment pronounced on: July 28, 2026
Presiding Judge: Hon'ble Mr. Justice Jasmeet Singh
GCD Prime claimed approximately ₹72 crores expenditure on the project
Sole Arbitrator Justice (Retd.) Badar Durrez Ahmed appointed for arbitration proceedings