India's enemy had to support him heavily, the company's 1600 crore rupees, also work

New -delhi. The echo of increasing geopolitical tension between India and Türkiye is now clearly heard in the corporate world. The Government of India has suddenly canceled the security clearance of Indian subsidiary companies of Türkiye’s land handling and cargo ministry, Oçelebi Servisi as. After this decision, not only did the company’s business in India come to a standstill, but the company also lost a huge loss of about $ 200m (£ 1,670 crore) in the stock market. About 3,800 Indian Elebi employees were also directly affected by this decision, the swords of which now hang on their work. The aviation minister has certainly ordered that these employees be housed in other land handlers, but in the current situation this process is not easily considered. Also read: If you go to the bank and say it, then you can get interest on FD three times, know that the secret sentence has fallen into the stock market, the shares of Hurricane çelibi dropped 20% in two trading sessions on the Stock Exchange in Istanbul. On May 16, the share dropped 222 points to close 2 002 Turkish Lira. This has reduced the company’s market cap to £ 10,700 crore, which is about 30% less than the 52 week high. It is considered one of this year’s largest aviation voucher. Large businesses in India, now Olebi’s land handling services ran at 9 major airports, including Delhi, Mumbai, Chennai, Bangalore, Ahmedabad. The company’s Indian units received an income of £ 1.522 crore in FY24 and an EBITDA worth £ 393. The two most advantageous units – çelibi Delhi Cargo and Easonbi Nas – earned a net profit of £ 188 in total. This means that India has given a third of the global revenue of the company, that is, about $ 195 million. Now this whole part has become zero. In addition, the company also invested around £ 200-250m (£ 1,670-2.100 crore) in India, which now appears to be drowning. Why was such a strict step taken? The government quoted “national security” behind this decision. But experts believe this step has been related to stress in recent times in India-Turki relations. Türkiye supported Pakistan throughout, especially on the issue of Kashmir. India is angry about this and has also objected many times. In such a situation, the security agencies regarded the presence of Easonbi as strategically sensitive and recommended action. The company went to court, but the expectation of relief is that Easonbi has moved the Delhi High Court and it must be heard on Monday. The company denied this action as wrong and said that they followed all legal rules. But experts believe that since the case is related to ‘national security’, it can also be difficult to get relief from the court. It should also be noted that even if the court gives the company relief, it will not be easy to regain the trust of lost airport contracts and investors. What will happen to debt and infrastructure? The investment made by the company in India includes land handling systems, cargo terminals, machinery and very logistical infrastructure. In addition, there are also bank loans worth about £ 183 related to India. Now that the entire industry of the business has stopped, questions have also been asked about the payment of these loans. What next? Many airports have already given temporary contracts to other land handlers instead of Olebi. Obviously, it is difficult for the company to return to India soon. In such a situation, it is a matter of great concern to investors and employees. Experts believe that this incident will also indicate other foreign land handlers that not only business skills, but also political and diplomatic understanding is needed to work in India.