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After India denied the company’s security clearance amid demands to ban Turkish enterprises due to their support for Pakistan, which harbors terrorists, the shares of the Turkish ground-handling company Celebi Airport Services fell 10% on Friday.

The stock’s losses reached over 30% in four sessions as it dropped 222 points, or 10%, to close at 2,002 in Istanbul on Friday. The demand for action against the Turkish company has put pressure on the shares in recent days.

“In the exercise of power conferred upon DG, BCAS, the security clearance in Celebi Airport Services India Pvt Ltd is hereby revoked with immediate effect in the interest of National Security,” the Ministry of Civil Aviation said in a statement on Thursday.

The Ministry of Civil Aviation has terminated the aforementioned company’s security clearance in recognition of the gravity of the situation and the need to safeguard national interests. Murlidhar Mohol, Minister of State for Civil Aviation and Cooperation, said, “Maintaining the safety and interests of the country remain our top priority.”

Delhi International Airport Limited (DIAL) has officially terminated its affiliation with Celebi companies that are in charge of ground handling and cargo operations at the Indira Gandhi International Airport (IGIA) in accordance with the Bureau of Civil Aviation Security’s (BCAS) mandate.

The ground handling concession deal between Adani Airport Holdings and the Turkish company Celebi at the airports in Ahmedabad and Mumbai has been canceled with immediate effect.

As directed by the federal government, Celebi Aviation’s ground handling activities at Bengaluru’s Kempegowda International Airport have been halted.

Celebi has increased its footprint in the Indian aviation industry since its debut in 2008. According to sources, Sumeyye Erdogan, Tayyip Erdogan’s daughter, owns a portion of the company. Selcuk Bayraktar, the manufacturer of the Bayraktar military drones that Pakistan employed against India, is Sumeyye Erdogan’s spouse.