DCM Limited has successfully concluded its postal ballot process, with shareholders providing overwhelming approval for a material related party transaction with Purearth Infrastructure Limited. The company announced the results on March 27, following the completion of the e-voting period that ran from February 25 to March 26.

Voting Results and Participation

The postal ballot, conducted exclusively through remote e-voting, demonstrated strong shareholder support for the proposed transaction. The voting statistics reveal significant participation across different shareholder categories:

Notably, promoter and promoter group shareholders abstained from voting as they are restricted from participating in related party transaction approvals under SEBI Listing Regulations.

Resolution Details and Process

The postal ballot sought approval for a single agenda item - an ordinary resolution for material related party transaction with Purearth Infrastructure Limited. The company had 24,681 shareholders as of the cut-off date of February 20.

The e-voting facility was provided through National Securities Depository Limited (NSDL), with the postal ballot notice distributed electronically to shareholders whose email addresses were registered with the company's registrar or depository participants.

Scrutinizer's Validation

Pragnya Parimita Pradhan of M/s. Pragnya Pradhan & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process. The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner, with votes being unblocked and counted in the presence of independent witnesses.

The scrutinizer's report highlighted that 1,872,627 votes from the promoter group were declared invalid, as promoters cannot vote on related party transaction resolutions under SEBI regulations. This exclusion ensured compliance with regulatory requirements while maintaining the integrity of the approval process.

Regulatory Compliance and Documentation

DCM Limited fulfilled all regulatory obligations under the Companies Act, 2013, and SEBI Listing Regulations. The company published notices in 'Financial Express' (English) and 'Jansatta' (Hindi) newspapers on February 25, and made the postal ballot notice available on its website and stock exchange platforms.

Company Secretary Sonal Gupta confirmed that the resolution has been passed with the requisite majority, and the results have been made available on the company's website and NSDL's e-voting platform for shareholder reference. The company has submitted the results to both BSE Limited (Scrip Code: 502820) and National Stock Exchange of India Limited (Scrip Code: DCM) under Regulation 44 and 30 of SEBI Listing Regulations.

DCM Limited has received an arbitration notice from GCD Prime, escalating a dispute over a terminated Joint Development Agreement for a land project in Haryana. The company disclosed this development to stock exchanges on March 19, 2026, pursuant to SEBI listing regulations.

Arbitration Notice Details

The company received the arbitration notice on March 18, 2026, from GCD Prime through its advocates under Section 21 of the Arbitration and Conciliation Act, 1996. The notice invokes arbitration in terms of Clause 14 of the Joint Development Agreement (JDA) dated August 11, 2022.

Background of the Dispute

The arbitration stems from DCM Limited's earlier termination of the Joint Development Agreement with GCD Prime. On November 1, 2025, the company had issued a Notice of Forfeiture and Termination to the developer, citing inordinate delays and continuing breaches of obligations under the JDA.

The project involved setting up an affordable residential plotted colony under the Deen Dayal Jan Awas Yojna (DDJAY), 2016, on 67.275 acres of the company's land situated in Hisar, Haryana. A critical issue was GCD Prime's failure to obtain revocation of the suspension order of license issued by the Haryana Government for the project.

Project and Financial Implications

Under the terms of the original termination notice, DCM Limited had specified that amounts paid by GCD Prime under the JDA would stand forfeited, and the agreement would terminate 15 days after receipt of the notice.

Regulatory Compliance

DCM Limited has made the disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this information on its website at www.dcm.in and informed both BSE Limited and National Stock Exchange of India Limited about the development.

The matter now moves to arbitration proceedings, where the dispute between DCM Limited and GCD Prime will be resolved according to the terms specified in their original Joint Development Agreement. The company has stated that both the financial implications and quantum of claims cannot be determined at this stage of the proceedings.