DCM Limited Faces Dispute with Developer Over Failed Housing Project

DCM Limited, one of India’s oldest and most iconic industrial conglomerates, recently issued a disclosure to NSE Ltd and BSE Ltd regarding the ongoing dispute with GCDPrime (Developer).

Background of the Case

The company said that there has been a long delay and repeated failures by the developer in fulfilling its responsibilities under the Joint Development Agreement (JDA). One major issue was that the developer did not get the suspension of the project license revoked, which had been issued by the Haryana Government for developing an affordable housing colony under the Deen Dayal Jan Awas Yojna (DDJAY), 2016, on the company’s land in Hisar, Haryana.

Because of these ongoing problems, the company sent a notice of forfeiture and termination to the developer stating that the agreement (JDA) would be terminated, and the money already paid by the developer would be forfeited. The company also gave the developer 15 days notice. If no resolution happened within that time, the agreement would automatically come to an end. The company had already informed the public about this action on November 1, 2025, as required under SEBI regulations.

Now, in response to this, the developer has taken legal action. On March 18, 2026, the developer sent a notice through its lawyers under the Arbitration and Reconciliation Act, 1996, asking to start arbitration proceedings as per the agreement.