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The rejig of senior management at ICICI Bank may have eliminated some of the uncertainty that currently surrounds the bank's operations, but the question about where the actual control lies still remains unanswered. After weeks of speculation, the bank on Monday announced a restructuring of its senior management, which involved the creation of a hitherto-unused number two position. The move to bring in someone to take the wheel is because the bank's Managing Director and Chief Executive Officer Chanda Kochhar is currently the subject of an investigation for allegedly flouting corporate governance norms. For Expert Advice Click here:Capitalheight.

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    The Securities and Exchange Board of India (SEBI) could amend the Issue of Capital and Disclosure Requirements (ICDR) after analyzing public opinion during its board meeting scheduled for June 21.The market regulator is planning to overhaul the ICDR regulations and wants to appoint a monitoring agency for every initial public offer (IPO) that hits the market. At present, IPOs only above Rs 100 crore are monitored. Under the current arrangement, the issuer makes necessary preparations for the use of proceeds of the IPO to be monitored by a public financial institution or by one of the scheduled commercial banks named in the offer document as bankers of the issuer.

    Indian Railways' long-awaited and ambitious project to set up a waste-to-energy plant at Jaipur railway station has run into Goods and Services Tax (GST) hurdles, causing a delay in the commissioning of the first such municipal solid waste management centre on the rail network. Though the process of setting up the plant in Jaipur and then at the New Delhi station began two years back and the successful bidder has brought in the required machinery and technology, the procurement process is yet to be GST-compliant, causing the delay. While the Jaipur plant would manage five tonnes of solid waste per day, the New Delhi plant would have a capacity of 10 tonnes per day.
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