
Delhi HC reserves order on Turkish firm Celebi's plea against revocation of security clearance, ETInfra
The Delhi high court on Friday reserved its order on a plea filed by another Turkish-based Celebi company, namely Celebi Ground Handling India Private Limited, against Centre's decision to revoke its security clearance A different bench of the high court on July 7 dismissed the pleas by Turkish-based firms -- Celebi Airport Services India Pvt Ltd and Celebi Delhi Cargo Terminal Management India Pvt Ltd -- challenging the revocation of their security clearance by aviation watchdog Bureau of Civil Aviation Safety (BCAS) on May 15, saying there are "compelling national security considerations" involved.Justice Tejas Karia on Friday reserved the order after company's lawyer submitted that the petition was filed on July 4 after a coordinate bench reserved its judgement in a similar case involving the associated companies.The counsel said on Friday that the July 7 verdict directly applied to the present case as well, and urged the judge to pass a similar order.BCAS revoked the security clearance, days after Turkey backed Pakistan and condemned India's strikes on terror camps in the neighbouring country.The court on July 7 underlined the necessity to eliminate the possibility of espionage or dual use of logistics capabilities which would be highly detrimental to the security of the country, especially in the event of an external conflict.

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Hindustan Times
27 minutes ago
- Hindustan Times
Lodha Developers expects to conclude one or more land deals this year, ahead of its Delhi-NCR foray: Abhishek Lodha
Mumbai-based listed real estate developer Lodha Developers expects to conclude one or more land deals in Delhi-NCR this fiscal, paving the way for its first project launch in the region in the next financial year, Managing Director and CEO Abhishek Lodha said during the Q1FY26 earnings call on July 28. Lodha Developers' market share is expected to be more than double by the end of the decade in MMR, Pune and Bengaluru, according to the company''s investor presentation for the Q1FY26.(Macrotech Developers) Looking to expand into the Delhi-NCR housing market, Lodha said the company aims to acquire at least one land parcel this year to develop its first residential project in the region. The foray will begin with a pilot phase, involving a limited number of projects and a moderate level of investment. Lodha Developers plans to enter the Delhi-NCR real estate market within the next year and aims to launch its first project in the region in the next financial year, the company said. "We expect to enter Delhi NCR in the next 12 months and hope to launch in fiscal 2027. The Delhi NCR is an important market for us to get into. We obviously, as we have done in Pune and Bengaluru, will only enter in a gradual manner. We will be starting off with a pilot phase with a moderate number of projects and a moderate level of investment with a view to understanding better how the market operates and how we build out the supply chain for operations as well as sales," Lodha said during a recent investors' call. "Our focus in this period is, first and foremost, on building our local operating team. We expect that we will conclude one or more land transactions either on a joint development basis or otherwise in the course of this financial year, and hope to launch in the next financial year. But obviously, at this stage, the details are limited. We will provide a more detailed update once the first land transaction is concluded," Lodha said. Also Read: DLF's Rajiv Singh is the richest real estate developer, followed by Mangalprabhat Lodha and family: Grohe-Hurun India Location strategy for Delhi-NCR Responding to a question on which micro-markets Lodha Developers has zeroed in on for launching its first project in Delhi-NCR, he said that 'I think we are looking across the Delhi NCR to make sure that locations fit with our brand's premium positioning.' "At the same time, have attractive dynamics when it comes to supply-demand and also profitability for us. So, we are looking across the board, and we will be able to provide a little bit more specific detail once the first land transaction is concluded. I think at this stage it's just a directional thing that, yes, we expect to be entering the NCR in the next 12 months," Lodha said during the call. Also Read: Lodha versus Lodha: Real estate tycoons settle trademark dispute through mediation Lodha Developers' market share is expected to be more than double by the end of the decade in MMR, Pune and Bengaluru According to the investor presentation shared with the stock exchanges as part of the Q1FY26 quarterly financial results, Lodha Developers' market share will more than double in the Mumbai Metropolitan Region, Pune, and Bengaluru real estate markets by the end of the decade. The company said in the Mumbai Metropolitan Region, its market share as of FY24 is 10%, which is likely to go up to 20% by the end of the decade, followed by 15% in Pune from its existing 5%, and 12% in Bengaluru from 2% currently, the investor's presentation revealed. Also Read: Buying a property is better than renting one: Abhishek Lodha Q1FY26 results The company's sales bookings increased 10% during the April-June period of this fiscal year to ₹4,450 crore. The company's total income increased to ₹3,624.7 crore in Q1FY26 from ₹2,918.3 crore during the same time last year. Lodha Developers has delivered 110 million sq ft of real estate and is currently developing more than 130 million sq ft under its ongoing and planned portfolio.


Indian Express
27 minutes ago
- Indian Express
Uncertainty looms over the resumption of NREGS in Bengal as the Centre is yet to clear the labour budget
With the August 1 deadline set by the Calcutta High Court for restarting Mahatma Gandhi National Rural Employment Guarantee Scheme (MG-NREGS) in West Bengal already passed, the job program's resumption remains uncertain as the Centre is yet to clear the state's labour budget for financial year 2025–26, The Indian Express has learnt. According to sources, the West Bengal government had written to the Union Ministry of Rural Development (MoRD), seeking approval to its labour budget. However, the same has not been done so far, said a source. The labour budget refers to anticipated demand for unskilled manual work for execution of a shelf of work identified to be taken up during a financial year. The labour budget is approved by the Empowered Committee headed by the Union Rural Development Secretary. The states can generate their demands for funds using NREGASoft, the Management Information System (MIS) of the MG-NREGS, only after this committee clears their labour budget proposals. Under the NREGS, the MoRD releases funds to states 'based on agreed labour budget'. Generally, the states' labour budget proposals are approved by the MoRD by the end of January before the beginning of each financial year (April-March). In Bengal's case, no labour budget has been approved post financial year 2021-22 after the Centre suspended implementation of the scheme in the state. By invoking Section 27 of the MGNREGA, 2005, the Centre had stopped release of funds to West Bengal with effect from March 9, 2022, 'due to non-compliance of directives of Central Government'. Since then, no work under the NREGS has taken place in the state. In an order on 18th June 2025, the Calcutta High Court had directed that the 'scheme be implemented prospectively with effect from 1st August 2025'. However, the West Bengal officials say that they have not received any intimation from the Centre about resumption of the scheme in the state. They have also been urging the MoRD for approval of the labour budget but the same has not happened either, said an official. The MoRD officials have kept mum so far on the issue of Bengal. When asked whether the ministry has challenged the June 18 Calcutta High Court order, the concerned officials at the MoRD did not respond. However, sources say that the Centre has not yet challenged the order. On July 22, Rural Development Minister Shivraj Singh Chouhan had told Lok Sabha that the order of the High Court is 'being studied in the Ministry to decide further course of action'. In January this year, West Bengal's Rural Development Minister Pradip K Mazumdar wrote a letter to Chouhan, seeking an appointment for a meeting, which has not happened so far. Earlier, multiple meetings between the Centre and West Bengal government officials have taken place but the issue has not been resolved till date. Before the Centre suspended the MG-NREGS in March 2022, West Bengal figured among the top performers with 51-80 lakh families in the state availing the scheme annually between 2014-15 and 2021-22. The data available on the NREGS portal shows that the number of households working through the rural job guarantee scheme stood at 51 lakh in 2014-15, 61 lakh in 2015-16, 58 lakh in 2016-17, 52 lakh in 2017-18, 43.89 lakh in 2018-19, 54.57 lakh in 2019-20, 79.64 lakh in 2020-21, and 75.97 lakh in 2021-22. Harikishan Sharma, Senior Assistant Editor at The Indian Express' National Bureau, specializes in reporting on governance, policy, and data. He covers the Prime Minister's Office and pivotal central ministries, such as the Ministry of Agriculture & Farmers' Welfare, Ministry of Cooperation, Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Rural Development, and Ministry of Jal Shakti. His work primarily revolves around reporting and policy analysis. In addition to this, he authors a weekly column titled "STATE-ISTICALLY SPEAKING," which is prominently featured on The Indian Express website. In this column, he immerses readers in narratives deeply rooted in socio-economic, political, and electoral data, providing insightful perspectives on these critical aspects of governance and society. ... Read More
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Business Standard
an hour ago
- Business Standard
Pharma Inc gear up for Day 1 launch of obesity drug in March 2026
As the global demand for next-generation diabetes and weight-loss therapies surge, Indian pharmaceutical companies are stepping up preparations to roll out generic versions of semaglutide—a blockbuster GLP-1 receptor agonist—once patent expires around March 2026. The generic launches will be significant, as the prices for the Indian consumer are expected to come down significantly from the current ₹17,000-26000 (monthly), thereby expanding the patient coverage. Dr. Reddy's Laboratories (DRL), Cipla, Sun Pharma, and Mankind Pharma, and others are ramping up peptide manufacturing, forming device partnerships, and aligning regulatory strategies to capture a share of the global GLP-1 market, estimated to cross $150 billion by decade's end. Hyderabad-based DRL is planning Day 1 launches in India and Brazil, part of a 2026 global rollout across 87 countries. 'The semaglutide launch is very important to us,' said CEO Erez Israeli. The company aims to price its product below Novo Nordisk's current ₹17,000 monthly offering. DRL is also working on 26 GLP-1 therapies, backed by a ₹2,700 crore FY26 capex plan to scale peptide and biosimilar production. Cipla is targeting first-wave launches through a mix of in-house and partner filings. 'We see GLP-1 as one of the biggest therapy opportunities in the last five years,' said Umang Vohra, MD and global CEO at the post earnings call. The company is building parts of its GLP-1 supply chain internally while leveraging partnerships to ensure scalability. Cipla is also crafting an affordable strategy for India's price-sensitive market, betting that post-patent price erosion will be offset by volume growth. Mankind Pharma aims to launch both oral and injectable semaglutide generics and is advancing MKP10241, a novel oral obesity drug in Phase 2 trials in Australia. Sun Pharma, meanwhile, is progressing its investigational GLP-1 molecule Utreglutide, targeted for launch in four to five years. It has secured Phase III approval for semaglutide trials in India, even as it reports negligible impact of GLP-1 drugs on its existing diabetes portfolio. The race for a piece of India's ₹628 crore anti-obesity market, however, comes at a time when the Indian courts and drug regulator body are looking to monitor the unregulated use of weight loss drugs. According to sources, the Central Drug Standards Control Organisation (CDSCO) has initiated work to form a panel after the Delhi High Court in July 2025 asked it to consult experts and relevant stakeholders to look into concerns arising out of approval for drug combinations being sold in the market for weight loss. The directive came in response to a public interest litigation filed by fitness entrepreneur Jitendra Chouksey, who had raised concerns about the marketing approval of drugs such as semaglutide, tirzepatide and liraglutide for weight management, despite limited safety data and the absence of India-specific clinical trials. While disposing of the petition, the court asked the drug regulator to respond to the petitioner within three months. At present, India has two officially available semaglutide brands: Rybelsus (oral) and Wegovy (injectable), both from Danish major Novo Nordisk. Rybelsus is approved for treating Type 2 diabetes, while Wegovy was launched in June 2025 for weight management. US-based Eli Lilly's tirzepatide drug, Mounjaro, is also available in India for obesity management. Analysts say the semaglutide opportunity is also fuelling India's peptide manufacturing ecosystem. 'Formulation is no longer enough—companies need full-stack execution,' said Nirali Shah, Pharma Analyst at Ashika Group, pointing to DRL, Cipla, and Sun Pharma's early moves to secure pen delivery partnerships. Contract development and manufacturing organisations (CDMOs) like Anthem Biosciences and Syngene are positioning themselves to capture a larger share of the growing peptide segment. Device manufacturers, too, are scaling up to meet rising demand for injection pens. India's peptide CDMO market, currently valued at $80 million, is growing at a CAGR of 14 per cent and could become a global supplier base for GLP-1 drugs, said Nilaya Varma, CEO of Primus Partners.