ICICI Bank 2008 Annual Report Download - page 21

Towards a better life
K. V.
Kamath
Kalpana
Morparia1
Chanda D.
Kochhar
Nachiket
Mor2
V.
Vaidyanathan
Madhabi
Puri Buch3
Sonjoy
Chatterjee4
Contribution to
provident fund 1,526,400 170,400 792,000 434,323 720,000 684,000 298,000
Contribution to
superannuation fund 1,908,000 177,485 990,000 — — — 372,500
Stock options (Numbers)
Fiscal 20085270,000 NA 180,000 NA 125,000 125,000 125,000
Fiscal 2007 300,000 200,000 175,000 175,000 150,000 100,000775,0007
Fiscal 2006 250,000 165,000 125,000 125,000 75,000775,000737,5007
1. Remuneration paid upto May 31, 2007.
2. Remuneration paid upto October 18, 2007.
3. Total remuneration paid for fiscal 2008 which includes the payment prior to her being appointed Executive Director
effective June 1, 2007. Excludes performance bonus of Rs. 490,000 for the period of fiscal 2008 prior to her being appointed
Executive Director, which was paid in April 2008.
4. Excludes remuneration paid by ICICI Bank UK PLC prior to his being appointed Executive Director of ICICI Bank effective
October 22, 2007.
5. Pending RBI approval.
6. Includes leave travel allowance availed during the year: K.V. Kamath – Rs. 2,650,000, Kalpana Morparia – Rs. 295,833,
Chanda D. Kochhar – Rs. 2,500,000, Nachiket Mor – Rs. 753,425, V. Vaidyanathan – Rs. 1,250,000, Madhabi Puri Buch
– Rs.1,950,000, leave encashment: Kalpana Morparia – Rs. 3,786,667 and Nachiket Mor – Rs. 1,080,000 and superannuation
allowance: Kalpana Morparia – Rs. 35,515, Nachiket Mor – Rs. 542,903, V. Vaidyanathan – Rs. 900,000 and Madhabi Puri Buch
– Rs. 855,000.
7. Prior to appointment as wholetime Director.
Perquisites (evaluated as per Income-tax Rules wherever applicable and otherwise at actual cost to the
Bank) such as the benefit of the Bank’s furnished accommodation, gas, electricity, water and furnishings,
club fees, personal insurance, use of car and telephone at residence or reimbursement of expenses in lieu
thereof; medical reimbursement, leave and leave travel concession, education benefits, provident fund,
superannuation fund and gratuity, were provided in accordance with the scheme(s) and rule(s) applicable
from time to time. If accommodation owned by the Bank is not provided, the concerned wholetime Director
is eligible for house rent allowance of Rs. 100,000 per month and maintenance of accommodation, including
furniture, fixtures and furnishings provided by the Bank.
As provided under Article 132 of the Articles of Association of the Bank, the fees payable to a Director (other
than to the nominee of Government of India) for attending a Meeting of the Board or Committee thereof
are decided by the Board of Directors from time to time within the limits prescribed by the Companies
Act, 1956 or the Central Government. The Board of Directors has approved the payment of Rs. 20,000 as
sitting fees for each meeting of Board or Committee attended. This amount is within the limits prescribed
by the Ministry of Corporate Affairs vide its Notification dated July 24, 2003. Approval of the Members for
payment of sitting fees to the Directors was obtained at the AGM held on August 20, 2005.
Information on the total sitting fees paid to each of the independent Directors during fiscal 2008 for
attending Meetings of the Board and its Committees is set out in the following table:
Name of Director Amount (Rupees)
N. Vaghul 740,000
Sridar Iyengar 320,000
R. K. Joshi 20,000
L. N. Mittal 60,000
Narendra Murkumbi 820,000
Anupam Puri 100,000
Annual Report 2007-2008 19
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