Last November, she was one of BT's 25 most Powerful Women in Business. Past May, Naina Lal Kidwai got powerful still when she was appointed the Deputy CEO of HSBc India. A few days prior to the appointment, the bank's CEO, Niall S.K. Booker had extolled his would-be deputy, on vacation till mid-June, thus: "Kidwai is a seasoned management professional, she is very well connected, and a bit of a fighter. She has turned out to be a very good recruit for us." He could say that again. The 47-year-old Kidwai, India's first woman graduate from the revered Harvard Business School, joined HSBC Securities and Capital Markets as Vice Chairman and Managing Director in November 2002, and has Maruti's successful IPO to her credit. Earlier at J.M. Morgan Stanley, the classical music enthusiast had put the joint venture together, and gone on to handle Wipro's overseas listing, Bharti Tele-Ventures' IPO and Tata group's VSNL acquisition. 'Wonder what's next for the globe-trotting Kidwai.

Product Push

Polaris software's numbers may not thrill shareholders, but they haven't dampened Chairman and CEO Arun Jain's ambition. Recently, Jain displayed to the media a trophy poached from Redmond in the form of Koen Van den Brande, until recently Microsoft's retail banking strategist for Europe, Middle East, and Africa. Roped in to head up the Intellect (a banking software product) business, Brande has a simple brief from Jain: Grow the Rs 97 crore business to Rs 480 crore by 2009. Says Jain: "Koen comes with a deep and thorough understanding of the product line and Asian and European markets. Since our market-needs are large, he is the right fit." Besides Jain, Polaris shareholders will be keeping an eye on Brande.

Mr. Fix It

Meleveetil Damodaran himself may not be looking forward to it, but it seems the beleaguered IDBI's Chairman of six months will get an extension before his term expires end of May. Good for IDBI and not so good for the 57-year-old Damodaran, who's primary job is as the CEO of UTI Mutual Fund, cleaved from UTI, which he turned around last year. IDBI's balance sheet is poised precariously. Bad loans are mounting and profits shrinking. And unless the government comes up with a generous bailout package, there's little even a man like Damodaran can do. This is one extension Damodaran must wish he hadn't got.

Pot of Gold

The last time Analjit Singh made headlines was in 1998, when he sold a large chunk of his stake in Hutchison Max Telecom for a cool Rs 545 crore. That was a huge valuation, given that the telecom sector was just taking off. In 1999, he used this money to venture into healthcare, life insurance and it. Last fortnight, Singh sold a 29 per cent stake in Max India to Warburg Pincus for Rs 200 crore. This money will go into healthcare and life insurance business, where he is now betting big. Says Singh, 50: "Max India is not a speculative play, but we are in a strong investment and long gestation play." Singh says he doesn't need any more funds to invest in his businesses. Just the same, there could be a tidy amount coming his way. Hutch, where he still holds a 10 per cent stake, is slated to go public later this year.

In Good Company

What could a man who's got more money than he can spend in a lifetime possibly want? August company, for one. On May 20, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, became a recipient of the prestigious Asia Society Leadership Award, which counts Indira Gandhi and Henry Kissinger among its previous recipients. Founded in 1956 by John D. Rockefeller III, the Asia Society aims to foster understanding between the peoples and cultures of Asia and America. At a high-powered Washington ball, where Senator Hillary Rodham Clinton delivered the keynote address, Ambani was lauded for his contributions to the development of modern Indian economy and closer Indo-US ties. And what did the 46-year-old Ambani, who presides over a $23-billion-in-revenues conglomerate, have to say at the $250-a-plate dinner? "I accept this on behalf of my father and all the professionals who've made Reliance the world class company it is." Papa would have been very proud.

Patently Fair

Another American honour, but to an Indian far less famous than Mukesh Ambani. Muhammed Majeed, CEO of Sabinsa Corp. (its Indian subsidiary Sami Labs figured in BT's Companies To Watch listing last year), was conferred the Ellis Island Medal of Honor, which recognises outstanding contribution to the US industry. Its previous awardees include Presidents George W. Bush and Bill Clinton, and Lee Iacocca of Chrysler fame. Industrial pharmacist Majeed's Sabinsa holds 13 global patents and is considered a pioneer in the area of phytonutrients.

-Contributed by Swati Prasad, Roshni Jayakar, Nitya Varadarajan, Sahad P.V.,
Abir Pal and Venkatesha Babu