NAME: VIJAY MALLYA AGE: 49 years DESIGNATION: Chairman GROUP: UB Group

When 28-year-old Vijay Mallya became chairman of united breweries group in 1983, following the demise of his father Vittal Mallya, not many people gave him much of a chance of consolidating and growing a disparate empire that spanned everything from pharmaceuticals to polymers, foods to spirits, and batteries to agrochemicals. His passion for the good life, fast cars, race horses, posh villas, diamonds, yachts and customised aircraft didn't help his cause. Now, 22 years later, Mallya, an Indian version of Virgin's Richard Branson (although he claims he is the original), is finally being seen as a canny businessman who has the ability to tap emerging opportunities. His track record speaks for itself (although the profitability of the listed entities in his group, a net profit of Rs 180 crore in 2004-05 on revenues of Rs 3,800 crore remains an area of concern). In 1983, the spirits business sold around 3.85 million cases; this year, it will sell 60 million (it has emerged the world's second largest spirits company after Diageo, after its acquisition of Shaw Wallace's spirits division). In beer, UB's Kingfisher is the market leader with a market share of 40 per cent. In May 2005, Mallya launched Kingfisher Airlines. The airline has done reasonably well since and is being talked of, in aviation circles, as a worthy rival to the country's leading private airline Jet. The man has just placed an order for 30 Airbus A-320s at a deal valued at $1.9 billion (Rs 8,550 crore). And an initial public offering is in the works to fund the expansion of Kingfisher Airlines. For Mallya, who has also found the time to become Working President of the Janata Party and a member of India's Upper House of Parliament (Rajya Sabha), 2006 could be the year of reckoning. That's when Kingfisher Airlines will have to start delivering on its promise, and Mallya on the debt he has taken on to fund the acquisition of Shaw Wallace.