Latest news with #Celebi
Mint
5 hours ago
- Business
- Mint
State-run Rail Vikas Nigam Ltd may end pact with Turkey's Tumas
India's Rail Vikas Nigam Ltd (RVNL) may end its year-old agreement with Turkish engineering firm Tumas after their partnership failed to make progress, two people aware of the matter said. The state-run company may now look for partners from other countries to replace Tumas. RVNL and Tumas India Pvt. Ltd had tied up in April 2024 to collaborate on infrastructure projects in India, particularly in public transport. The pact aimed at fostering partnership and cooperation in infrastructure projects, including railways, metros, and related areas. 'RVNL may put the memorandum of agreement in abeyance, and nix it completely later, as it had made no progress since being signed a year back. The company will evaluate whether such partnership itself is required now, as similar collaborations are being pursued with a few other key countries also in line with company's aggressive global expansion push," one of the two people cited above said on the condition of anonymity. Also read | Celebi case: State has plenary powers in protecting national security, says govt The move comes in the wake of India's strained relations with Turkey, which supported and armed Pakistan in its recent military conflict with India. Earlier this month, the government withdrew the security clearance of Turkish firm Çelebi's Indian airport services arm citing national security risks, halting its operations at nine airports, including Delhi and Mumbai. Later, a few travel and tour operators voluntarily removed Turkey from their tour packages. Queries emailed to the railway ministry and RVNL remained unanswered till press time. RVNL, a Navratna PSU, is the listed infrastructure and project implementation arm of Indian Railways while Tumas is an engineering, procurement and construction company. MoU insignificant now According to the two people cited above, the MoU itself has become insignificant for RVNL, as it is now pursuing public-private-partnership (PPP) collaborations with leading global firms from the UAE, Europe, South Korea, and Spain for metro, EPC, and solar projects. These collaborations are expected to help RVNL to strengthen and modernize its own construction abilities for Indian Railways projects and other opportunities for construction of public transport projects within the country. 'Infrastructure is not just about concrete and steel, it is about sovereignty and national resilience too," said Shailesh Agarwal, partner, risk consulting (infrastructure), EY India. "Projects, especially in border regions or involving communication systems must be safeguarded to minimize the risk of external interference. While we welcome global expertise, it must come from nations that respect India's security and stand by us in moments of crisis," Agarwal said. Also read | Turkey's Celebi to Delhi HC: Security clearance withdrawal has hurt business 'The recent conflict is a reminder that strategic autonomy begins with strategic choices including who we allow to build our future. Moreover, India today has the technical and engineering capability to execute these projects independently. From large-scale expressways to complex mountain tunnels, Indian firms have consistently delivered world-class infrastructure across challenging terrains. In fact, India firms are more competent when it comes to infrastructure execution. India's engineering sector has matured to meet global standards," he added. RVNL has spread its wings in India's infrastructure sector, expanding beyond its core railway expertise into highways, metro systems, and international markets. As a Navratna PSU, it has been instrumental in executing large-scale, high-impact projects such as the Dedicated Freight Corridor, Chardham Highway, the first-of-its-kind Pamban bridge in Rameshwaram and multiple metro rail systems. Also read | Dealing with 'delicate' subject: Govt to Delhi HC on Celebi petition The company is now aggressively expanding overseas, having successfully executed the UTF Harbour project in the Maldives and actively pursuing multi-billion-dollar infrastructure projects across West Asia, Africa, South America, and South Asia. It is bidding for ₹400 billion worth of projects and expanding into new infrastructure segments, including build-operate-transfer projects.
India.com
15 hours ago
- Business
- India.com
Boycott Turkey Impact: One move by India destroys this Turkish company; suffers Rs 17000000000 loss in just 24 hours; company is...
Turkey had backed Pakistan during Operation Sindoor, in which India carried out precision strikes on terror infrastructure in Pakistan and PoJK in response to the Pahalgam terror attack. Soon, the Boycott Turkey movement in India started growing, thereby leading to a sharp decline in the sale of Turkish goods, causing its nation to face economic setbacks. Moreover, the Association of Indian Universities (AIU) has urged all Indian universities to cancel academic collaborations with institutions in Pakistan, Bangladesh, and Turkey in the wake of the April 22 terrorist attack in Pahalgam, which claimed the lives of 26 civilians. According to an ANI report, in a letter dated May 15, the AIU asked vice-chancellors across India to terminate all Memorandum of Understanding (MoUs) with institutions in these three countries. The AIU cited the support extended by Bangladesh and Turkey to Pakistan as the basis for the move. Turkish companies operating in India are also facing the heat due to the Boycott Turkey trend. One such example is Çelebi Aviation, a Turkish ground-handling service provider. Recently, the Indian government revoked Çelebi Aviation's security clearance with immediate effect. According to the news agency PTI report, on May 19, the Centre said the decision to revoke clearance was taken in the interest of national security in light of certain inputs that continuing the services of the petitioner companies would be hazardous in the current scenario. Celebi, operating in the Indian aviation sector for over 15 years and employing over 10,000 people, offers its services at nine airports. The impact was swift and severe: within just two days, the company's valuation dropped by nearly one-third. As per AajTak report, the move has also put the jobs of around 3,800 employees at risk, raising concerns over possible large-scale layoffs. Bureau of Civil Aviation Safety (BCAS) on May 15 revoked the security clearance, days after Turkey backed Pakistan and condemned India's strikes on terror camps in the neighbouring country. BCAS, in its order, 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.' The security clearance to the company, part of Turkey's Celebi, was given in November 2022. Before this boycott, leading travel companies like EaseMyTrip, MakeMyTrip, and Ixigo issued advisories recommending travelers to avoid visiting Turkey and Azerbaijan. Following the Indian government's decision, Çelebi Aviation faced a sharp financial setback, losing nearly $200 million (approx. Rs 1,700 crore) in just one day. On May 16, the company's shares on the Istanbul Stock Exchange fell by 20%, sliding 222 points to close at 2,002 liras. This decline reduced the company's market capitalization by 4.8 billion liras (around Rs 10,700 crores), marking a 30% drop from its 52-week high.
New Indian Express
2 days ago
- Business
- New Indian Express
Delhi HC reserves order on Celebi's petition against revocation of security clearance
NEW DELHI: The Delhi High Court on Friday reserved its verdict on a petition filed by Turkish company Celebi Airport Services India, which is challenging the Centre government's decision to cancel its security clearance. This move had led to the firm being removed from its duties at the airports in Delhi and Mumbai. The government decided a recent four-day conflict between India and Pakistan, during which Turkey had publicly supported Pakistan. In response, Celebi approached the HC, claiming that the cancellation was unfair and that it was not given a proper chance to defend itself. Justice Sachin Datta reserved the decision after hearing final arguments from Senior Advocate Mukul Rohatgi, who represented Celebi in court. Rohatgi argued that the company had been punished without being told clearly what it had done wrong. He said that according to Indian aviation rules, especially Rule 12 of the Aircraft Rules, 2023, a company should receive a fair warning and a proper explanation before such strict action is taken. He told the court that the government must explain its reasons in writing, not just keep them to itself. 'You cannot punish a company like this without saying what it is being punished for,' he explained.
Time of India
2 days ago
- Business
- Time of India
India Revokes Security Clearance for Turkish Firm Celebi: A Shift in Geopolitical Strategy, ET Infra
Highlights India's revocation of Celebi Aviation's security clearance signals a strategic shift after Turkey backed Pakistan during 'Operation Sindoor.' Experts like Jitender Bhargava say the move, driven by national security, was overdue. Legal voices assert the decision won't dent India's investment image, as security clearances reflect evolving geopolitical realities. Advt Advt By , ETInfra NEW DELHI: The decision of the government to revoke the security clearance to Turkish-origin ground handling firm Celebi, which until very recently operated at nine Indian airports, is not expected to have any long-term impact on foreign investments in the country and signals a recalibration in India's geopolitical the Galwan skirmish with China in 2020, the Indian government had taken measures to restrict investment of Chinese companies in India, indicating that hostilities and commercial relations cannot go together. Recent action against Celebi has been undertaken after Turkey provided diplomatic and military support to Pakistan against India during ' Operation Sindoor Apart from civilian passenger aircraft and at airports, Celebi also provided ground handling services for Indian military and government aircraft, according to the company's website.'India's decision to terminate ground handling agreements with Celebi Aviation signifies a strategic recalibration of its aviation and geopolitical priorities. The decision to discontinue Celebi arrangements is a significant step and reflects India's priority for the security and safety of its citizens,' said Poonam Verma Sengupta, Partner, JSA Advocates & Bhargava, aviation sector expert and former executive director of Air India backed the decision of the government highlighting that the decision should have been undertaken much earlier.'The ground handling firm can have an agreement with the airport operators or the airlines but the government action on the grounds of national security will have greater supremacy,' said is not the first time that developments in the Indian aviation sector which had a Turkish connection raised security 2022, Tata Group's appointment of former Turkish Airlines Chairman Ilker Ayci as managing director and chief executive officer at Air India, drew a lot of criticism and concerns. Reports alleged Ayci's had a role in facilitating investments of Egyptian-born Saudi Arabian national Yasin al-Qadi, who was earlier designated as a financier for Al-Qaeda by the US Treasury and the United Nations. Due to intense media scrutiny in India, Ayci later declined to accept the post offered by the Tata Ayci's earlier role as an advisor to Turkish President Recep Tayyip Erdoğan, also raised red flags in India.'Erdoğan has not been very hospitable to India, especially after the revocation of Article 370 in Kashmir, and his policy towards India is having a significant impact,' said diplomatic relations with Turkey have strained since 2019, with a noticeable shift in Turkey's foreign policy. The Turkish President over the years has expanded the country's diplomatic and military relations with Pakistan and has termed Kashmir as a disputed territory, which India strongly Hemant Sahai, Founding Partner at HSA Advocates, who specialises in legal issues related to energy and infrastructure as well as regulatory and dispute resolution, expects the Celebi incident not to dent India's credential as an investment destination.'In my view, this decision will not have any long-term negative impact on foreign investments into India. Security clearances are inherently subjective and must be tested from time to time on the touchstone of geopolitics and strategic considerations,' said has legally challenged the decision taken by the Bureau of Civil Aviation Security, highlighting that it has been regularly audited by Indian aviation and security authorities, and maintained full compliance with Indian aviation, national security, and tax regulations, and provided complete transparency.
Time of India
2 days ago
- Business
- Time of India
Delhi HC reserves order on Celebi's security clearance withdrawal
NEW DELHI: Delhi high court reserved judgment Friday on a petition by Celebi Airport Services Private Ltd against a decision by the Centre's Bureau of Civil Aviation Security (BACS) to withdraw the Turkiye company's security authorisation for ground handling operations at airports over national security concerns. A single-judge bench of Justice Sachin Datta reserved the judgment after listening to senior advocate Mukul Rohatgi, representing Celebi, and solicitor-general Tushar Mehta, appearing for the central govt. The court requested all parties to submit written statements by Monday. The cancellation of Celebi's security clearance came in the aftermath of Operation Sindoor and Pakistan's retaliation that included use of Turkish weapons. Rohatgi argued that principles of natural justice were breached, as Celebi received neither prior notice nor information about govt's intended actions. The decision violated Rule 12 of the Aircrafts Security Rules, 2023, rendering it invalid. The rule stipulates that govt must provide an entity an opportunity to present its case before suspending security clearance. Any suspension requires documented justification and cannot exceed one year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cost Of Amusement Park Equipment From Mexico Might Surprise You - See Tips Amusement Park Equipment | search ads Click Here Undo Cancellation is permitted only on reasonable grounds of national security, civil aviation security, or over non-compliance with security conditions. Rohatgi contended that Centre was not endowed with plenary powers, as it claimed to, and it was not open for govt to say it could be in breach of its own rules of granting an opportunity of hearing while revoking security clearance. Celebi urged the HC not to examine materials provided to it in a sealed cover until the firm was given a gist of the allegations it faced. Emphasising the firm ought to have been put on notice before govt's action, Rohatgi said: "Notice has to say the proposed punishment based on the gravamen of the facts... In a given case you can redact some I should know, or should I argue from newspapers?... Give me a gist of allegations. "
