ICICI Bank 2009 Annual Report Download - page 19
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17Annual Report 2008-2009
The Power of Belief
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 non-wholetime Director during fiscal 2009 for attending Meetings
of the Board and its Committees is set out in the following table:
Name of Director Amount (Rupees)
N. Vaghul 780,000
Sridar Iyengar 380,000
L. N. Mittal 40,000
Narendra Murkumbi 720,000
Anupam Puri 140,000
M. K. Sharma 840,000
P. M. Sinha 340,000
Marti G. Subrahmanyam 260,000
T. S. Vijayan 40,000
V. Prem Watsa 120,000
Total 3,660,000
The details of shares and convertible instruments of the Bank, held by the non-wholetime Directors as on
March 31, 2009 are set out in the following table:
Name of Director Instrument No. of shares held
N. Vaghul Equity 27,543
Sridar Iyengar — —
Narendra Murkumbi — —
L. N. Mittal Equity 3,120,7001
Anupam Puri — —
Anup K. Pujari — —
M. K. Sharma Equity 10,000
P. M. Sinha — —
Marti G. Subrahmanyam Equity 1,613
American Depositary Share (ADS)232,000
T. S. Vijayan — —
V. Prem Watsa — —
1. Includes 10,000 shares held indirectly through companies of which he and his family are ultimate beneficial owners.
2. One ADS represents two equity shares.
IV. Credit Committee
Terms of reference
The functions of the Committee include review of developments in key industrial sectors and approval of credit
proposals as per authorisation approved by the Board.