Rajiv Talwar, the charismatic IAS officer who is the Additional Director-General at the Ministry of Tourism, is reported to have quit the IAS. He was having an uncomfortable time at the Ministry, where he was engaged in turf battles with his highly visible junior, Amitabh Kant, but the immediate reason for his strategic decision is his appointment as CEO, DLF Universal.

In a Forbes magazine list of India's top 40 richest people, dominated by pharmaceutical and technology tycoons, the only top-placed real estate developer is Kushal Pal Singh, Chairman, DLF Universal, who comes in fifth.

The real estate conglomerate has turned the hitherto sleepy South Delhi suburb, Gurgaon, into a bustling zone of malls and offices. DLF plans to raise US$3.5 billion from the market in what is expected to be India's biggest share offering.