ICICI Bank 2009 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2009 ICICI Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 180

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180

19Annual Report 2008-2009
The Power of Belief
Composition
The Fraud Monitoring Committee comprised five Directors, namely, M. K. Sharma, Narendra Murkumbi,
K. V. Kamath, Chanda D. Kochhar and V. Vaidyanathan and was chaired by M. K. Sharma, an independent Director.
There were two meetings of the Committee during the year. The details of the composition of the Committee and
attendance at its Meetings are as follows:
Name of Member Number of meetings attended
M. K. Sharma, Chairman 2
Narendra Murkumbi —
K. V. Kamath 2
Chanda D. Kochhar 2
V. Vaidyanathan 1
The Board of Directors at its Meeting held on April 25, 2009 re-constituted the Committee effective May 1, 2009
following the resignation of V. Vaidyanathan from the Board on his appointment as Managing Director & CEO
of ICICI Prudential Life Insurance Company Limited. Sandeep Bakhshi has been appointed as a Member of the
Committee effective May 1, 2009.
VII. Risk Committee
Terms of reference
The Committee is empowered to review ICICI Bank’s risk management policies in relation to various risks (credit,
market, liquidity, operational and reputation risks), investment policies and strategy and regulatory and compliance
issues in relation thereto. The Committee is also empowered to review risk return profile of the Bank, capital
adequacy based on risk profile of the Bank’s balance sheet, Basel-II implementation, business continuity plan and
disaster recovery plan, key risk indicators and significant risk exposures.
Composition
The Risk Committee comprised five Directors including four independent Directors and the Managing Director
& CEO. It was chaired by N. Vaghul. There were eight meetings of the Committee during the year. The details of
the composition of the Committee and attendance at its Meetings are set out in the following table:
Name of Member Number of meetings attended
N. Vaghul, Chairman17
Sridar Iyengar26
Marti G. Subrahmanyam34
V. Prem Watsa33
K. V. Kamath 7
1. Also participated in one meeting through tele-conference.
2. Also participated in two meetings through tele-conference.
3. Also participated in four meetings through tele-conference.
The Board of Directors at its Meeting held on April 25, 2009 re-constituted the Committee effective May 1, 2009
consequent to the retirement of N. Vaghul from the Board and appointment of K. V. Kamath as non-executive
Chairman and Chanda D. Kochhar as Managing Director & CEO. K. V. Kamath has been appointed as Chairman
of the Committee and Chanda D. Kochhar has been appointed as a Member of the Committee effective
May 1, 2009.
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.