ICICI Bank 2008 Annual Report Download - page 24

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Directors’ Report
VIII. Share Transfer & Shareholders’/Investors’ Grievance Committee
Terms of reference
The functions and powers of the Committee include approval and rejection of transfer or transmission of
equity and preference shares, bonds, debentures and securities, issue of duplicate certificates, allotment of
shares and securities issued from time to time, including those under stock options, review and redressal
of shareholders’ and investors’ complaints, delegation of authority for opening and operation of bank
accounts for payment of interest, dividend and redemption of securities and the listing of securities on
stock exchanges.
Composition
The Share Transfer & Shareholders’/Investors’ Grievance Committee comprises four Directors and is
chaired by M. K. Sharma, an independent Director. There were 12 meetings of the Committee during the
year. The details of the composition of the Committee and attendance at its Meetings are given below:
Name of Member Number of meetings attended
M. K. Sharma, Chairman 12
Narendra Murkumbi 7
Kalpana Morparia (upto May 31, 2007) 1
Chanda D. Kochhar 12
Madhabi Puri Buch (w.e.f. June 1, 2007) 6
Sandeep Batra, Senior General Manager & Company Secretary is the Group Compliance Officer. 19,248
shareholder complaints received in fiscal 2008 were processed. At March 31, 2008, 7 complaints were
pending.
IX. Strategy Committee
Terms of reference
The functions of the Committee are to evaluate various strategic opportunities, including acquisitions/
divestitures, restructuring and other strategic initiatives for the Bank and its subsidiaries and recommend
the same to the Board.
Composition
The Strategy Committee comprises five Directors – N. Vaghul, M. K. Sharma, Narendra Murkumbi,
K. V. Kamath and Chanda D. Kochhar. The Committee is chaired by N. Vaghul. The Strategy Committee
was constituted by the Board at its Meeting held on March 7-8, 2008 and no meetings of the Committee
were held during fiscal 2008.
X. Committee of Directors
Terms of reference
The powers of the Committee include approval of credit proposals as per authorisation approved by the
Board, approvals in respect of borrowings and treasury operations and premises and property related
matters.
Composition
The Committee of Directors comprises of all five wholetime Directors and is chaired by K. V. Kamath,
Managing Director & CEO.
XI. Other Committees
In addition to the above, the Board has from time to time constituted various committees namely, Asset-
Liability Management Committee, Committee for Identification of Wilful Defaulters, Grievance Redressal
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ICICI BANK_(Fin_Matter 1-64).ind22 22ICICI BANK_(Fin_Matter 1-64).ind22 22 6/20/08 5:03:01 PM6/20/08 5:03:01 PM