Ashok Chawla, not Vijay Ranchan, is IPCL chief
New Delhi: The government has appointed Ashok Chawla, joint secretary in the ministry of chemicals and fertilisers, as chairman and managing director of Indian Petrochemicals Corpo-ration Ltd. Mr Chawla took charge on 1 March 2000. He will have additional charge in the ministry.

Earlier reports had indicated that the IPCL CMD’s position, vacated by K G Ramanathan, would be given to Vijay Ranchan.
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J R Varma joins Sebi
Mumbai: The Union government has appointed J R Varma as a full-time member of the Securities and Exchange Board of India for a period of three years from the date on which he joins the board. Mr Varma, who currently teaches at the Indian Institute of Management, Ahmedabad, has been associated with Sebi as a part-time board member for the last three years.
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Deepak Raj is co-director at Merrill Lynch
New York: Merrill Lynch has appointed Deepak Raj co-director of its US fundamental equity research department. Mr Raj, an alumnus of the Indian Institute of Technology, Kanpur, will take over on 6 March from Stanley Rubin. He has headed Merrill Lynch's global consumer group in investment banking for the last two years.
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Ex-MD of IISCO contests chargesheet
Calcutta: The Indian Iron and Steel Company’s former managing director, G S Garcha, has challenged the Union steel ministry’s chargesheet against him in the Calcutta High Court. His
writ petition in the court says the chargesheet issued against him (on 31 January 2000) is a total non-application of mind and does not disclose any cause of action or misconduct.
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Europe, US spoil over IMF chief job
Washington: On 29 February Europe formally nominated German deputy finance minister Caio Koch-Weser as its candidate for the position of managing director of the International Monetary Fund. That will mean an informal poll of IMF members and a clash between the European and Americans.

The others in the running are acting IMF chief Stanley Fischer and former Japanese deputy finance minister Eisuke Sakakibara. Past MDs of the institution have been Europeans (just as heads of the Workd Bank, the IMF’s associate organisation, have been Americans). But the US, the IMF's largest shareholder, has refused to support Koch-Weser because, it says, he doesn’t have the necessary qualifications.

Developing countries have supported Mr Fischer, a naturalised American.
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