Delhi High Court dismisses GCD Prime's petition against DCM Limited's termination notice
The Delhi High Court dismissed GCD Prime's petition seeking to stay DCM Limited's termination notice. This ruling upholds DCM's decision to terminate the Joint Development Agreement dated August 11, 2022, due to the developer's delays. The termination notice, issued on November 1, 2025, remains effective.
The resolution of this litigation is crucial as it pertains to a Joint Development Agreement for a substantial land parcel, impacting the company's real estate development plans and potentially resolving financial implications related to the agreement.
The dismissal of the petition by the Delhi High Court is a favorable outcome for DCM Limited, validating its decision to terminate the Joint Development Agreement and resolving a significant legal dispute.
DCM Limited has announced the dismissal of a Section 9 petition filed by GCD Prime (Developer) before the Delhi High Court. The court, in its order dated July 28, 2026, dismissed the application, which sought to stay the operation of DCM Limited's termination notice dated November 1, 2025, and to restrain DCM Limited from interfering with GCD Prime's legal rights or creating third-party rights on the concerned land.
This development is in continuation of DCM Limited's earlier intimations regarding the issuance of a Notice of Forfeiture and Termination to GCD Prime in terms of the Joint Development Agreement (JDA) dated August 11, 2022. The company had issued the notice due to inordinate delays and continuing breaches of obligations by the Developer. The JDA was for the development of DCM's land parcel admeasuring approximately 68.35 acres in Hisar, Haryana, under the Deen Dayal Jan Awas Yojana (DDJAY).
The previous intimations detailed the company's efforts to support the Developer in getting the revocation of a license suspension order issued by the Haryana Government. However, with the matter remaining pending for over two years, the Board of DCM Limited approved the issuance of the forfeiture and termination notice. The notice stipulated that the amount paid by GCD Prime would stand forfeited and the JDA would stand terminated upon the expiration of 15 days from the receipt of the notice.
The Delhi High Court's dismissal of GCD Prime's petition upholds DCM Limited's position regarding the termination of the JDA. The court's order means that the termination notice remains effective, and DCM Limited is not restrained from exercising its rights concerning the land.
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DCM Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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