ICICI Bank 2010 Annual Report Download - page 143

F63
schedules
forming part of the Consolidated Accounts (Contd.)
Sr.
no. Name of the entity4,5,6 Country of incorporation Nature of relationship Nature of business Ownership interest
15. ICICI Equity Fund India Consolidated
as per AS 21 Unregistered venture capital fund 100.00%
16. ICICI Emerging Sectors Fund India Consolidated
as per AS 21 Venture capital fund 99.31%
17. ICICI Strategic Investments Fund India Consolidated
as per AS 21 Unregistered venture
capital fund 100.00%
18. ICICI Kinfra Limited India Consolidated
as per AS 21 Infrastructure development consultancy 76.00%
19. ICICI West Bengal Infrastructure Development
Corporation Limited India Consolidated as per AS 21 Infrastructure development consultancy 75.99%
20. Loyalty Solutions & Research Limited India Consolidated
as per AS 21 Customer relationship management, data
mining and analytics and
marketing services
82.74%
21. ICICI Venture Value Fund India Consolidated
as per AS 21 Unregistered venture capital fund 54.35%
22. I-Ven Biotech Limited India Consolidated
as per AS 21 Investment in research
and development of
biotechnology
100.00%
23. ICICI Prudential Life Insurance Company Limited1India Jointly controlled
entity Life insurance 73.89%
24. ICICI Lombard General Insurance Company
Limited1India Jointly controlled
entity General insurance 73.72%
25. ICICI Prudential Asset Management
Company Limited1India Jointly controlled
entity Asset management company for ICICI
Prudential Mutual Fund
51.00%
26. ICICI Prudential Trust Limited1India Jointly controlled
entity Trustee company for ICICI Prudential Mutual Fund 50.80%
27. TCW/ICICI Investment Partners LLC2Mauritius Jointly controlled
entity Asset management 50.00%
28. Rainbow Fund3India Associate Unregistered venture
capital fund 23.91%
29. Financial Information Network and Operations
Limited3India Associate Support services for
financial inclusion 28.28%
30. I-Process Services (India) Private Limited3India Associate Services related to back
end operations 19.00%
31. I-Solutions Providers (India) Private Limited3India Associate Services related to sales
and promotion activities 19.00%
32. NIIT Institute of Finance Banking and Insurance
Training Limited3India Associate Education and training in
banking and finance 19.00%
33. Prize Petroleum Company Limited3India Associate Oil exploration and
production 35.00%
34. ICICI Merchant Services Private Limited3India Associate Merchant servicing 19.00%
The financial statements of Comm Trade Services Limited and 3i infotech Limited have not been consolidated under
AS 21/AS 23, since the investments in these companies are temporary in nature.
1. The financial statements of these jointly controlled entities have been consolidated as per AS 21 on ‘consolidated financial statements’
consequent to the limited revision to AS 27 on ‘financial reporting of interests in joint ventures’.
2. The entity has been consolidated as per the proportionate consolidation method as prescribed by AS 27 on ‘financial reporting of interests
in joint ventures’.
3. These entities have been accounted as per the equity method as prescribed by AS 23 on ‘accounting for investments in associates in
consolidated financial statements’.
4. During the quarter ended June 30, 2009, Crossdomain Solutions Private Limited and Contests2win.com India Private Limited ceased to
be associates and accordingly, these entities have not been accounted as per the equity method as prescribed by AS 23.
5. During the quarter ended September 30, 2009, Transafe Services Limited ceased to be a consolidating entity and accordingly, has not
been consolidated.
6. ICICI Wealth Management Inc. has been dissolved with effect from December 31, 2009 and therefore, it has not been consolidated from
the quarter ended December 31, 2009.