Joint Venture1 Nov 2025, 02:04 pm
DCM Ltd. Forfeits, Terminates Joint Development Agreement with M/s GCD Prime After Two Years of Pending Suspension Order Revocation
AI Summary
DCM Ltd. has announced the forfeiture and termination of a Joint Development Agreement (JDA) with M/s GCD Prime for the development of a 68.35-acre land parcel in Hisar, Haryana. The decision comes after two years of inordinate delay and unfulfilled obligations by the Developer to get the revocation of a suspension order from the Haryana Government. The Company has made earnest efforts to support the Developer but has now decided to terminate the agreement. The move is expected to impact the real estate project and the parties involved.
Key Highlights
- DCM Ltd. issues Notice of forfeiture and termination to M/s GCD Prime after two years of pending suspension order revocation
- The Company has made earnest efforts to support the Developer but decided to terminate the agreement due to unfulfilled obligations
- The termination will impact the real estate project and parties involved
- The JDA was for the development of a 68.35-acre land parcel in Hisar, Haryana under Deen Dayal Jan Awas Yojna (DDJAY) Policy
- DCM Ltd. to forfeit the amount paid by the Developer upon the expiration of 15 days from the date of receipt of the Notice