DCM Ltd. Receives Arbitration Notice from GCD Prime
DCM Ltd. announced today, March 19, 2026, that it received a notice under Section 21 of the Arbitration and Conciliation Act, 1996 from GCD Prime. The notice pertains to the invocation of arbitration in terms of Clause 14 of a Joint Development Agreement (JDA) dated August 11, 2022.This development follows a prior notification on November 1, 2025, regarding the Company’s issuance of a Notice of Forfeiture and Termination to GCD Prime related to the JDA. The termination notice stemmed from GCD Prime’s alleged failure to address breaches of obligations, including the revocation of a suspension order for a license issued by the Haryana Government concerning a planned affordable residential plotted colony on 67.275 acres of DCM Ltd.’s land in Hisar, Haryana. According to the earlier notice, amounts paid by GCD Prime to DCM Ltd. under the JDA would be forfeited, and the JDA would terminate after a 15-day period.
The potential financial implications and the quantum of claims are not currently determinable.
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