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DCM Limited informed stock exchanges that the Division Bench of the Delhi High Court, hearing an appeal by GCD Prime (the developer) against the July 28, 2026 dismissal of its Section 9 petition, has passed an interim order on August 12, 2026 staying the effect of the single judge's judgment and directing status quo to be maintained over the 67.275-acre project land in Hisar, Haryana. The original judgment had dismissed GCD Prime's plea to stay DCM's November 2025 notice of forfeiture and termination of the Joint Development Agreement (JDA) signed in August 2022. The appeal remains pending for final hearing. This development partially reverses DCM's earlier legal win, as the status quo order effectively pauses DCM's ability to take possession or proceed with termination-related actions on the land while arbitration continues.
The interim stay and status quo order is a setback for DCM, as it temporarily halts the impact of its favorable single judge ruling and keeps the disputed land in limbo. The outcome of the appeal and ongoing arbitration could affect the value of DCM's Hisar land asset and the enforceability of the JDA termination. Shareholders should monitor the next hearing, as the final ruling will determine whether DCM retains full control of the project land or must continue dealing with GCD Prime as the developer.