ICICI Bank 2009 Annual Report Download - page 22

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20
Directors’ Report
Composition
The Share Transfer & Shareholders’/Investors’ Grievance Committee is chaired by M. K. Sharma, an independent
Director. There were five 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 4
Narendra Murkumbi 4
Chanda D. Kochhar 4
Madhabi Puri Buch (upto January 31, 2009) 5
The Board of Directors at its Meeting held on April 25, 2009 re-constituted the Committee effective May 1, 2009.
Chanda D. Kochhar has ceased to be a Member of the Committee and N. S. Kannan has been appointed as a
Member of the Committee effective May 1, 2009.
Sandeep Batra, Senior General Manager & Company Secretary is the Group Compliance Officer. 955 shareholder
complaints received in fiscal 2009 were processed. At March 31, 2009, no complaints were pending.
IX. Strategy Committee
The functions of the Committee were 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. The Strategy Committee comprised five Directors – N. Vaghul, M. K. Sharma, Narendra Murkumbi,
K. V. Kamath and Chanda D. Kochhar. The Committee was chaired by N. Vaghul. No meetings of the Committee
were held during fiscal 2009. The Bank’s strategy was reviewed by the Board of Directors. The Board of Directors
at its Meeting held on April 25, 2009 has dissolved the Strategy Committee.
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 was chaired by K. V. Kamath,
Managing Director & CEO.
The Board of Directors at its Meeting held on April 25, 2009 re-constituted the Committee effective May 1, 2009
consequent to the appointment of K. V. Kamath as non-executive Chairman and Chanda D. Kochhar as Managing
Director & CEO. K. V. Kamath has ceased to be a Member of the Committee and Chanda D. Kochhar has been
appointed as Chairperson of the Committee effective May 1, 2009. The other Members are Sandeep Bakhshi,
N. S. Kannan, K. Ramkumar and Sonjoy Chatterjee.
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 Committee for
borrowers identified as Wilful Defaulters (all comprising certain wholetime Directors and Executives) and Committee
of Executives, Compliance Committee, Product & Process Approval Committee, Regional Committees for India and
overseas operations, Outsourcing Committee, Operational Risk Management Committee and other Committees
(all comprising executives). These committees are responsible for specific operational areas like asset-liability
management, approval of credit proposals, approval of products and processes and management of operational
risk, under authorisation/ supervision of the Board and its Committees.