VIJAY MALLYA: An aristocrat among plebeians

His preferred mode of flying is by private jet. Among his recent guests at his lush stud farm outside Bangalore was Richard Gere. He still maintains the luxury yacht he bought from Richard Burton. But Vijay Mallya, supremo of the UB Group, has finally realised the most plebeian of his ambitions: to represent his people. Elected to the Rajya Sabha after a bruising battle, Mallya showed he had learned enough to get down and dirty with the best political schemers. He couldn't do that the last time round in March 2000 when he lost a similar bid to get into Parliament's upper house. This time too he stood as an independent, supported by the Janata Dal and Congress (Karnataka Chief Minister S.M. Krishna is distantly related, and every state MLA is only too familiar with Mallya and the UB Group). There was, officially, hostility from the BJP, which urged the Election Commission to debar him-for old income-tax and fera cases that suddenly stared him in the face. So Mallya, wiser to the ways of politicians after his last experience, created a rift within Karnataka's BJP, getting its votes and defeating its official candidate. Easing into his new politico-speak, Mallya-who became an NRI in 1988-says if the government now comes at him, it will be a case of "pure political vindictiveness". Despite all this warring, Mallya doesn't, as yet, have a specific political agenda, though he has strong feelings that he would like to express in Parliament about the WTO and disinvestment, and generally be a voice for industry. For now, he's spending time delegating authority to his execs and restructuring UB as he prepares to spend more time in his home country. He's already cemented his hold on the booming beer market (UB controls 44 per cent) by linking up with Scottish and Newscastle, the UK's biggest brewer. So how will he reconcile the call of the people with racing cars, horses, speedboats and roaming the world in his Gulfstream? "My globe-trotting days," declares Mallya, "are over." As for the rest, don't expect too much of a change.

A Tycoon's Salvation

VIVEK C. BURMAN: Banking birdie

A swirl of smoke canopies the sanctum sanctorum of Vivek C. Burman's Delhi residence-cum-embassy. The Dabur Chairman, who doubles up as Nicaragua's ambassador to India, lets out a puff from his cigar at his basement home theatre on Prithviraj Road, carefully concealing his next move of further upping his stake in the Kerala-based Lord Krishna Bank (LKB). The 65-year-old has just increased his stake in LKB from 1 per cent to 6.63 per cent. ''It (LKB) is my friend's bank (the Puri group holds the controlling stake), and I found it to be very progressive. Besides," the businessman in him quickly adds, "I hear that soon they might up the dividend from 10 to 20 per cent,'' he says. His Dabur group, however, isn't involved in the transaction, which has been funded by Burman's own money. Burman may have given up golfing (handicap 18), but he still knows how to score a hole-in-one.

Turning A Lone Wolf

JOHN BAND: Dalal Street's 'Bond'

He is Dalal Street's dial-a-quote, one of its most colourful and outspoken investment bankers and a strategist for some of its recent predators. Now, John Band is leaving ask Raymond, where over four-and-a-half years he achieved his fame and notoriety, to set up his own investment banking outfit. That means things should only get bigger and bolder for the 50-something Brit. ''Doing hostile M&As and private equity requires a lot of intellectual content and only modest capital investment,'' explains Band, ''which is why it is better done out of a boutique outfit rather than an expensive international joint venture.''

Band's passage to India began in 1992, when the country first allowed foreign institutional investors in. Back then Band was working with Chescor Capital, a corporate finance and private equity boutique, and spotting opportunities, moved to India. But only in recent years did John ''fire'' Band, a chartered accountant from the UK, hit the limelight for helping Abhishek Dalmia mount a raid on Sheth-owned Gesco Corporation and later, Radhakishan Damani bid for VST Industries. The bids failed. But, obviously, Band hasn't.