ICICI Bank 2008 Annual Report Download - page 120

F46
section 212
Statement pursuant to Section 212 of the Companies Act, 1956, relating to subsidiary companies
Sr.
No. Name of the subsidiary company Financial year
of the subsidiary
ended on
No. of equity shares held by ICICI Bank
and/or its nominees in the subsidiary
as on March 31, 2008
Extent of
interest
of ICICI
Bank in
capital of
subsidiary
Net aggregate amount of
profits/(losses) of the subsidiary
so far as it concerns the
members of ICICI Bank and
is not dealt with in the accounts
of ICICI Bank1
Net aggregate amount
of profits/(losses) of the
subsidiary so far as it
concerns the members
of ICICI Bank dealt with or
provided for in the accounts
of ICICI Bank2
Rupees in '000s Rupees in '000s
for the
financial year
ended
March 31,
2008
for the previous
financial years
of the subsidiary
since it became
a subsidiary
for the
financial year
ended
March 31,
2008
for the previous
financial
years of the
subsidiary since
it became a
subsidiary
1 ICICI Securities Primary Dealership Limited3March 31, 2008 16,210 equity shares of Rs. 100,000 each fully paid up 100.0% 716,026 3,909,748 680,820 4,746,710
2 ICICI Securities Limited3,4, 5 March 31, 2008 305,353,500 equity shares of Rs. 2 each, fully paid up 100.0% 538,967 542,079 958,810 717,649
3 ICICI Securities Holdings Inc.5 March 31, 2008 10,700,000 common stock of USD 1 each fully paid up
held by ICICI Securities Limited — (2,204) (23,507) Nil Nil
4 ICICI Securities Inc.5 March 31, 2008 10,050,000 common stock of USD 1 each fully paid up
held by ICICI Securities Holdings Inc. — (195,522) (45,215) Nil 15,635
5 ICICI Venture Funds Management Company Limited March 31, 2008 1,000,000 equity shares of Rs. 10 each fully paid up 100.0% 179,040 742,785 725,000 1,775,979
6 ICICI International Limited6March 31, 2008 90,000 ordinary shares of US$ 10 each fully paid up 100.0% 12,169 11,153 Nil 15,782
7 ICICI Home Finance Company Limited March 31, 2008 783,750,000 equity shares of Rs. 10 each fully paid up 100.0% 272,502 689,645 431,334 615,765
8 ICICI Trusteeship Services Limited March 31, 2008 50,000 equity shares of Rs. 10 each fully paid up 100.0% 386 1,236 Nil Nil
9 ICICI Investment Management Company Limited March 31, 2008 10,000,700 equity shares of Rs. 10 each fully paid up 100.0% 6,290 27,665 Nil Nil
10 ICICI Prudential Life Insurance Company Limited March 31, 2008 1,034,958,845 equity shares of Rs. 10 each fully paid up 73.9% (10,305,329) (11,254,451) Nil Nil
11 ICICI Lombard General Insurance Company Limited March 31, 2008 278,610,000 equity shares of Rs.10 each fully paid up 73.8% 323,063 630,124 436,451 788,868
12 ICICI Bank UK PLC.6March 31, 2008 445,000,000 ordinary shares of USD 1 each and 50,000
ordinary shares of 1 GBP each 100.0% 1,380,655 2,066,885 166,104 369,068
13 ICICI Bank Canada7, 10 December 31, 2007 267,000,000 common shares of Canadian Dollar (CAD)
1 each 100.0% 111,522 (542,555) Nil Nil
14 ICICI Bank Eurasia Limited Liability Company8,10 December 31, 2007 Not Applicable# 100.0% (73,520) 15,237 Nil Nil
15 ICICI Prudential Asset Management Company Limited March 31, 2008 9,002,573 equity shares of Rs. 10 each, fully paid up 51.0% 229,680 135,485 189,054 239,189
16 ICICI Prudential Trust Limited March 31, 2008 51,157 equity shares of Rs. 10 each, fully paid up 50.8% 122 306 Nil 256
17 ICICI Wealth Management Inc.7,9,10 December 31, 2007 100,000 common shares of Canadian Dollar (CAD)
1 each held by ICICI Bank Canada — (20,211) Nil Nil Nil
# The shares in the authorised capital of ICICI Bank Eurasia Limited Liability Company is registered without issue of equity shares due to the legal form of the subsidiary.
1. The above companies (other than ICICI Bank UK PLC., ICICI Bank Canada, ICICI Bank Eurasia Limited Liability Company, ICICI Prudential Asset Management Company Limited, ICICI Prudential Trust Limited and ICICI Wealth Management Inc.)
which were subsidiaries of erstwhile ICICI Limited have become subsidiaries of the Bank consequent to the merger of erstwhile ICICI Limited with ICICI Bank.
2. The amount received by erstwhile ICICI Limited upto March 29, 2002 as dividend has also been included in the reserves of ICICI Bank.
3. During the year ended March 31, 2008, ICICI Bank acquied all the shares of ICICI Securities Limited from ICICI Securities Primary Dealership Limited and ICICI Equity Fund.
4. Effective October 1, 2006, ICICI Web Trade Limited has merged with ICICI Securities Limited, a subsidiary of the Bank. Accordingly, the profit of ICICI Securities Limited for the previous financial years includes the profit of erstwhile ICICI
Web Trade.
5. ICICI Securities Holdings Inc. is a wholly-owned subsidiary of ICICI Securities Limited, ICICI Securities Inc. is a wholly-owned subsidiary of ICICI Securities Holdings Inc.
6. The profits/(losses) of ICICI Bank UK PLC. and ICICI International Limited for the year ended March 31, 2008 have been translated into Indian Rupees at the rate of 1 USD = Rs. 40.2676.
7. The profits/(losses) of ICICI Bank Canada and ICICI Wealth Management Inc. for the year ended December 31, 2007 have been translated into Indian Rupees at the rate of 1 CAD = Rs. 38.8577.
8. The profits/(losses) of ICICI Bank Eurasia Limited Liability Company for the year ended December 31, 2007 have been translated into Indian Rupees at the rate of 1 RUB = Rs. 1.5967.
9. ICICI Wealth Management Inc. is a wholly-owned subsidiary of ICICI Bank Canada.
10. The information furnished for ICICI Bank Canada and ICICI Wealth Management Inc. and ICICI Bank Eurasia Limited Liability Company is from the period January 1, 2007 to December 31, 2007, being their financial year. Please find below key financial
parameters of these companies as on March 31, 2008 and their movement from December 31, 2007 levels.
Rupees in '000s
ICICI Bank Canada ICICI Wealth Management Inc. ICICI Bank Eurasia Limited Liability Company
Particulars As on March 31,
2008
As on
December 31, 2007 Movement As on
March 31, 2008
As on
December 31, 2007 Movement As on
March 31, 2008
As on
December 31, 2007 Movement
Fixed assets 72,620 86,031 (13,411) 459 436 23 70,975 60,244 10,731
Investments 58,871,392 31,840,537 27,030,856———4,188,789 5,424,268 (1,235,479)
Advances 91,668,783 76,042,497 15,626,286———17,796,054 16,623,840 1,172,214
Borrowingsa(7,695,049) — (7,695,049) — — — 21,059,310 26,294,822 (5,235,512)
a. Since it is not possible to identify the amount borrowed to meet its current liabilities, the amount shown above represents the total borrowings.
b. The financial parameters of ICICI Bank Canada and ICICI Wealth Management Inc. have been translated into Indian Rupees at 1 CAD = Rs. 39.3175 for the year ended March 31, 2008 and 1 CAD = Rs. 40.2350 for the year ended December
31, 2007.
c. The financial parameters of ICICI Bank Eurasia Limited Liability Company have been translated into Indian Rupees at 1 RUB =Rs. 1.6989 for the year ended March 31, 2008 and 1 RUB = Rs. 1.6092 for the year ended December 31, 2007.
For and on behalf of the Board of Directors
N. VAGHUL K. V. KAMATH
Chairman Managing Director & CEO
CHANDA D. KOCHHAR V. VAIDYANATHAN
Joint Managing Director & CFO Executive Director
MADHABI PURI BUCH SONJOY CHATTERJEE
Executive Director Executive Director
SANDEEP BATRA RAKESH JHA CHARANJIT ATTRA
Place : Mumbai Group Compliance Officer & Deputy Chief General Manager &
Date : April 26, 2008 Company Secretary Financial Officer Chief Accountant
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