From the Desk of Chairman – July 2025

In a diverse country like India, logistical challenges are endemic.  That is quite natural considering our diversity and poor development of our infrastructural facilities. This is particularly true in freight movement and also in areas like power generation. Imagine that something is manufactured in one state whereas the requirement for it is in another, resulting in enormous increases in costs on transportation.  This onerous situation is beautifully captured in the Malayalam saying “chumadu kaal panam and chumattu kooli mukkal panam”. Literally translated it means “the cost of carrying the load is a quarter; the wage for carrying it is three-quarters.”  This proverb humorously highlights the irony or inefficiency in transaction or systems where the actual value of the item or task is small, but the associated costs (like labour or logistics) are disproportionately high.  This happens primarily because of the effort or cost to execute something far outweigh its intrinsic value primarily because of bureaucratic overheads and inefficient processes involved especially when the movements involve shifting materials through multiple states. In this scenario Adani Logistics has emerged as a pivotal force in reshaping India’s supply chain landscape by stitching together ports, rail, road, and warehousing into an integrated logistics ecosystem. Through its multi-modal logistics parks, pan-India container train operations, and digitised cargo tracking systems, the company has minimised handovers, reduced transit times, and elevated reliability for both bulk and small consignments. Whether it’s refrigerated cargo or industrial freight, Adani’s unbroken material movement – from port-side cranes to hinterland warehouses – epitomises the shift from fragmented transit to a streamlined, demand-responsive supply chain. In a country where the cost of carrying the load once overshadowed the cost of the materials carried, Adani’s model signals the arrival of a new era – efficient, scalable, and built for India’s ambitious growth narrative.  The pre and post formalities involving mindless paperwork during the entire process are handled by one single agency – end-to-end. Sometimes you wonder why it took so long for us to come to this obvious solution.  It is also a great relief for the small traders and entrepreneurs.  They neither need to pay for full truck loads to move materials economically – they share limited space in the trucks and ships and pay for just so much. Similar innovation is happening the case of green energy certificates. India promotes renewable energy through Renewable Energy Certificates (RECs), that companies can purchase to meet renewable energy targets and reduce their carbon footprint.  You set up a green energy facility in one place where it is more economical to generate and you pay for your own energy requirements elsewhere in another state using these certificates. In the process the energy produced does not change its shade – green remains green at both the production end and at the consumption end too. Again, the same question.  Why did we take so long to conceive this system despite the power utilities being under the government control?  We see India is actively integrating comprehensive logistics solutions through infrastructure, digital platforms and strategic warehousing to cut costs and improve efficiency in freight movement. Simultaneously, the promotion of green power certificates supports cost savings and sustainability in logistics operations thereby aligning environmental goals with economic benefits. These combined strategies are gradually transforming India’s supply chain landscape into a more efficient and environmentally conscious system.

 

The Supreme Court of India had some news for the property market.  In a significant ruling, the court has reiterated that merely registering a property does not make you its legal owner. The judgement, delivered in the Mahnoor Fatima Imran vs M/S Visweswara Infrastructure Pvt Ltd case, has direct implications for millions of Indian homebuyers and investors. If you have bought a property based solely on a registered sale deed, you may want to read the fine print before you proceed further.  Generally, in India, the registration of property documents is considered a key legal act, albeit a final step that confers validity on property transactions and establishes evidentiary proof of ownership for the buyer.  Under the Indian Registration Act, 1908, registration of property deeds such as sale deeds, gift deeds or transfer documents is mandatory for certain transactions and highly recommended for evidentiary purposes in all other cases. When a property is registered, it becomes part of the official record of the government and the registered document of transfer serves as prima facie evidence of the transaction conferring ownership.  The Supreme Court has reaffirmed that registration of property documents is a crucial step in establishing legal ownership but not an absolute or final proof of ownership by itself. In the judgment the Court emphasised that ownership is a matter of law while registered documents are strong evidence.  However, they are not conclusive to establish ownership title on the buyer. Courts may consider other factors such as possession, payment of taxes, and title deeds when determining true ownership.  Key takeaway from the judgment is that registration is a prima facie proof meaning thereby that it shifts the burden of proof to the contesting parties to prove otherwise. Possession, continuous use, and other documents also play vital roles when it comes to property disputes.  However, absence of registration does not automatically mean lack of valid ownership title, especially if there are other evidence to support ownership rights.  In other words the Court has clarified that while property registration is an essential and final step in formalising ownership, it is not the sole determinant. Courts will assess all relevant factors, including possession, history and other documentation to decide rightful ownership rights. This balanced approach aims to protect genuine property rights while maintaining the integrity of property transactions.   From a compliance perspective, this ruling, no doubt, would increase the time taken for completing property transactions.  However, this judgment should serve as a deterrence to fraudulent transactions based on unregistered sale deeds or those with disputed titles. It would also increase the time taken to buy or sell property but is likely to cut down on potential litigations and lead to higher transparency of such transactions.

The problem with personalities like Donald Trump are their impulses based on half-baked information and poor understanding of the subjects that they handle.  Trump has a well-documented tendency to respond aggressively to perceived insults or challenges to his image.  This makes him an unusually easy bait – a single tweet, a harmless headline or a routine protest can trigger a disproportionate response.  Trump’s need for admiration and dominance often overrides strategic restraint, normally associated with global leaders and diplomats.  Adversaries can easily provoke him by questioning his success, intelligence or authority, especially in public forums.  Trump tends to view relationships – even with allies – in terms of deals and loyalty.  When others appear to “win” or gain leverage, he lashes out to reassert his dominance even at the cost of long-term strategies.  It is becoming increasingly clear that Trump always frames issues in stark “win vs lose” terms.  This rigidity is being exploited by adversaries who present situations as zero-sum games forcing him into predictable, combative stances.  When the US air force rained bombs on the Iranian nuclear site the other day, his first reaction was to reach for the English dictionary to search for an appropriate word to describe what happened after the bombing to stun the world. His people could ferret out an appropriate word which in this case happened to be “obliterate” to describe the effect of the bombings. Now his military officials are busy trying to justify what their Commander-in-Chief had said. As is his habit, he himself had declared to the whole world about the bombing. In less than two days of this bombing he was informed that despite the bombing the fighting had not stopped between Iran and Israel! It was then that he decided to drop the most potent bomb known to mankind that was in his personal possession.  Addressing the Israelis and the Iranians he dropped the F-bomb following it up with an all-cap warning post in X meant for the warring parties. His emotional expressiveness is part of his political brand, but it also makes him unusually reactive on the global stage.  His adversaries do not need to outmanoeuvre him militarily or economically; they can simply provoke a reaction that would undermine his position.  His decision-making style is often reactive and largely media driven.  Opponents do provoke him to coincide with media cycles, knowing fully well that he would respond in ways that simply escalate tensions.  When last heard, the US President was threatening to bomb Iran all over again. For what purpose?  Apparently, a defiant gesture to people who had the audacity to question his use of the word “obliteration” after the bombing!

On the solemn morning of June 12, 2025, our skies were shadowed by the devastating loss of Air India Flight AI-171. In a tragedy that unfolded just minutes after take-off from Ahmedabad 275 lives were extinguished – passengers, crew, and innocent students on the ground whose dreams also were silenced by this tragedy.  We grieve not only the loss of innocent people but the abrupt stilling of stories yet to be told – of lives in motion, of journeys never completed, of voices that echoed with hope, laughter and love. Among them were parents returning home, children headed toward new beginnings, professionals, students, and dreamers from every walk of life.  In their memory, we offer more than silence – we offer reflection. May their families find strength in collective sorrow and may the lessons drawn from this dark day illuminate a safer future for all. Every name on that passenger list was more than a statistic – they were someone’s world.  In this moment of mourning let us all join the relatives of those who lost their near and dear ones.  May God provide solace to the families who lost their relatives. This is a tragedy that has affected every one of us.  Lives lost for no fault of theirs. Let us also extend our condolences to the management of Air India.  After the takeover of the airlines by the Tatas we were looking forward to a brighter future for the airline.  That dream has taken a knock.  Every Indian is waiting with bated breath to find out how this tragedy happened and how such a tragedy would not repeat itself. May God give the relatives of the families who lost their near ones the fortitude to bear the loss.

One more temple festival; one more tragedy.  After what happened in Prayagraj during the Maha Kumbh where even God did not know how many people had died, here comes the news that at least three pilgrims have died in a stampede at Puri during the Rath Yatra festival as of writing this. People dying in and around the temples are becoming sad but routine news.  The death of three pilgrims and the injury of dozens more in a stampede near the Gundicha Temple during the annual Rath Yatra in Puri is a devastating but, tragically, not an unforeseeable event. This incident is a painful indictment of our systemic failures in crowd management and a stark reminder that faith and devotion are being dangerously compromised by administrative negligence.  While condolences are offered and investigations are launched, it is imperative to move beyond the immediate rhetoric of “unfortunate incidents” and critically dissect the layers of failure that led to this loss of life.  A stampede in and around a religious site has to be taken more seriously than what we are doing today. Almost always they are as a result of lack of effective crowd management. The sad part is that we come to accept the repetition of such tragedies as inevitable occurrences.  We are normalising chaos and accept such tragedies as inevitable. The pilgrims who died in Puri were not just statistics; they were individuals who had travelled with immense faith. Their deaths were preventable.  Without a fundamental commitment to prioritising human life over bureaucratic inertia and political convenience, the sacred journey for many more devotees could tragically become their last.  Let us not accept that “everything happens as per the Lord’s wish”.  It happens just because of some person’s incompetence. May the souls of those who left this world so tragically because of the apathy of the administration, rest in peace.

Thank you.

Venkat R Venkitachalam