Latest news with #Istanbul-headquartered
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Business Standard
23-05-2025
- Business
- Business Standard
Delhi HC reserves verdict on Turkish firm Celebi's plea on airport contract
The Delhi High Court on Friday reserved its verdict on a petition filed by Istanbul-headquartered firm Celebi against the Centre's order to revoke its security clearance. After hearing submissions by the lawyers appearing for both sides, Justice Sachin Datta asked the petitioners namely Celebi Airport Services India Pvt Ltd and Celebi Delhi Cargo Terminal Management India Pvt Ltd, as well as the Centre, which is the defendant in the case, to file their written submissions by Monday. On May 15, the Bureau of Civil Aviation Safety (BCAS) had revoked the security clearance of Celebi, which is a private firm, after the Turkish govt extended diplomatic support to Pakistan in the latter's conflict against India. Turkey also condemned air strikes carried out by India at terror camps located in Pakistan during Operation Sindoor. Later, Celebi filed a petition in the Delhi HC challenging the BCAS order arguing that "vague" national security concerns were cited without reasoning. "[The order] fails to disclose any specific or substantive reason except for a vague and general reference to 'national security'... (it) provides no reasons or justification," it added. The BCAS, in its order, had said "... the security clearance in r/o Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of national security." Senior counsel Mukul Rohatgi, representing Celebi, had contended the BCAS' move was against the principles of natural justice and in violation of the procedure under the Aircraft Security Rules. Solicitor General Tushar Mehta, on the other hand, defended the action, stating that there was an "unprecedented" threat to aviation security. Notably, the security clearance to the company, part of Turkey's Celebi, was given in November 2022. Celebi employs more than 10,000 people in India and provides ground services at nine major airports, including Delhi and Mumbai. It has been operating in the country for over 15 years. (With inputs from PTI)
India Today
23-05-2025
- Business
- India Today
India-Turkey relations
On May 22, the Ministry of External Affairs called out Turkey, saying it expects Ankara to 'strongly urge Pakistan to end its support to cross-border terrorism'. For good measure, it added that 'relations are built on the basis of sensitivities to each other's concerns'.Those relations had been on a downhill track for some time but Turkey's overt support to Pakistan after the Pahalgam attack made matters worse. Post-Operation Sindoor, on May 15, the Bureau of Civil Aviation Security had revoked the security clearance of Istanbul-headquartered Celebi Aviation Holding's Indian subsidiary which provided ground-handling services at nine key airports, including Delhi and Mumbai, citing 'national security concerns'.
India.com
18-05-2025
- Business
- India.com
Boycott Turkey: Modi govt punishes Ankara for supporting Pakistan, Turkish firm loses Rs 2500 loss in just two days due to...
(File) Boycott Turkey: India's moves to hurt Turkey financially are already showing its impact as the market cap of Celebi Hava Servisi– a Turkish airport ground handling company– has tanked by $293 million (over Rs 2,500 crore), in just two days. According to market data, the company's shares witnessed a decline of nearly 20 percent on Thursday and Friday, a downward spiral experts attribute to India revoking the security clearance of Turkish firm's subsidiaries citing national security concerns. In a statement, the Istanbul-based firm said it will challenge the Indian government's decision using administrative and legal remedies, while highlighting that its Indian operations form a major chunk of its annual revenue. The Turkish firm revealed that more than a third of its $585 million revenue in 2024 came from its Indian subsidiaries. BCAS revokes security clearance On Thursday, India's Bureau of Civil Aviation Security (BCAS) revoked security clearance of Celebi Airport Services India with immediate effect, which affected all of Turkish firm's affiliated units operating in the country. Responding to the government's move, Celebi Hava Servisi stated that its Indian operation is 'truly an Indian enterprise' managed by Indian professionals and 'is not a Turkish organisation by any standards.' The revocation of the Istanbul-headquartered firm's security clearance is one of the several decisions taken by Prime Minister Narendra Modi-led central government to hurt Turkey economically after the country openly supported Pakistan during the recent India-Pakistan clash. Celebi challenges government order as market caps tanks According to reports, after Indian government's action, Celebi shares on Borsa Istanbul closed 10 percent lower at 2,224 Turkish lira on Thursday and fell another 10 percent to 2,002 TL on Friday, leading to multiple trading halts, and the company losing Rs 2,500 crore in market valuation in two days. In a regulatory filing, Celebi Airport Services India said it will pursue all administrative and legal remedies against the government's orders, and called allegations levelled against it as 'baseless'. The firm stressed that its subsidiaries have always complied with Indian laws and have never posed any threat to national security. The Turkey-based company has challenged its revocation of security clearance in the Delhi High Court, and the plea is expected to be heard on Monday. Over 10,ooo Indians work for Celebi Celebi Hava Servisi entered the Indian market in 2009, and has invested over $250 million since, employing more than 10,000 Indian nationals to run its Indian operation across nine airports in the country, including Delhi, Mumbai, Bengaluru and Hyderabad, through five different subsidiaries. Celebi Airport Services India, the group's largest subsidiary, had operations at six airports, before its security clearance was revoked. Celebi owned by Erdogan's daughter? Meanwhile, social media has been rife with rumors claiming the company's ownership was linked to Sumeyye Erdogan Bayraktar, the daughter of Turkish President Recep Tayyip Erdogan. However, Celebi has refuted these claims as 'factually incorrect', stating that its majority stake is held by international institutional investors, with no political affiliations, and no connections to Erdogan's daughter.
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Business Standard
16-05-2025
- Business
- Business Standard
Mumbai airport appoints Indo Thai as interim handler after Celebi exit
After Celebi's security clearance was revoked, MIAL names Indo Thai as interim ground handler at Mumbai airport and will float a tender to appoint a permanent operator Deepak Patel New Delhi Following the revocation of Celebi Aviation's security clearance by India's aviation security regulator, Mumbai airport operator MIAL has temporarily handed over ground handling duties to Indo Thai Airport Services and will soon float a tender to appoint a permanent service provider. The tendering process will be concluded within three months, said Adani Group-led Mumbai International Airport Limited (MIAL). Istanbul-headquartered Celebi was operating at nine airports in India, including Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai. On Thursday, the Bureau of Civil Aviation Security (BCAS) revoked the company's security clearance, citing national security concerns. In response, Celebi stated that only
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Business Standard
16-05-2025
- Business
- Business Standard
Çelebi files plea in Delhi HC against revoking of its security clearance
Turkey-based Celebi challenegd the Centre's decision to revoke its security clearance, arguing that "vague" national security concerns were cited without reasoning. According to the Reuters, Celebi Airport Services India, in a May 16 filing, asked the Delhi High Court to set aside that decision, arguing it would impact 3,791 jobs and investor confidence, and the Centre issued the notification without any warning to the company. "Mere rhetoric of national security without elaborating upon in what manner is an entity a threat to national security is unsustainable in law," the company said in the filing, which is not public. The order "fails to disclose any specific or substantive reason except for a vague and general reference to 'national security'... (it) provides no reasons or justification," it added. The case is likely to be heard on Monday. In its filing, Celebi said that while its shareholders were registered in Turkey, "majority end control" of the group is held by companies that do not have Turkish incorporation or origin. Earlier in the day, after its security clearance was revoked by the Bureau of Civil Aviation Security (BCAS), citing concerns over national security, Çelebi Hava Servisi AS said that all available administrative and legal remedies would be pursued to challenge the unilateral termination of various licence and concession agreements in India. 'We will pursue all available administrative and legal remedies to challenge these unfounded allegations and to seek the annulment of the aforementioned terminations,' Çelebi Hava Servisi AS said. Following the BCAS decision, which was taken on Thursday, the operations of various entities of Çelebi Hava Servisi AS have been suspended. These include Çelebi Airport Services India Pvt Ltd (CASI), Çelebi GH India Pvt Ltd (CGHI), Çelebi Nas Airport Services India Pvt Ltd, Çelebi Delhi Cargo Terminal Management India Pvt Ltd, and Çelebi GS Chennai Pvt Ltd (CGSC). The development comes days after Türkiye extended military and diplomatic backing to Pakistan during Operation Sindoor. It also condemned India's strikes on terror camps in Pakistan. Çelebi, which employs more than 10,000 people in India, currently provides ground services at nine major airports, including Delhi and Mumbai, and has been operating in the country for over 15 years. In a filing to Türkiye's stock exchange on Friday, the Istanbul-headquartered firm said four concession and licence agreements executed between its subsidiaries and the relevant Indian airport authorities had been unilaterally terminated. 'The Bridge Mounted Equipment Service Agreement valid until 2036 and the Concession Agreement Ground Handling Services valid until 2029, executed between Çelebi Nas Airport Services India Pvt Ltd (Çelebi Nas), 59 per cent owned by our company, and Mumbai International Airport Ltd (MIAL),' have been terminated, the filing said. Following the withdrawal of the security clearance, the shares of Çelebi Hava Servisi AS declined by 10 per cent on the Istanbul Stock Exchange. Meanwhile, on Thursday, Civil Aviation Minister K Rammohan Naidu said national interest and public safety are paramount and non-negotiable.
