ICICI Bank 2011 Annual Report Download - page 143

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F65
forming part of the Consolidated Accounts (Contd.)
Sr.
no.
Name of the entity4,5,6,7,8 Country of
incorporation
Nature of
relationship
Nature of business Ownership
interest
14. ICICI Eco-net Internet and Technology Fund India Consolidated as
per AS 21 Venture capital fund 92.12%
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 Venture Value Fund India Consolidated as
per AS 21 Unregistered venture capital fund 54.35%
20. I-Ven Biotech Limited India Consolidated as
per AS 21 Investment in research and
development of biotechnology 100.00%
21. ICICI Prudential Life Insurance Company
Limited
1
India Jointly
controlled entity Life insurance 73.88%
22. ICICI Lombard General Insurance Company
Limited
1
India Jointly
controlled entity General insurance 73.55%
23. ICICI Prudential Asset Management Company
Limited
1
India Jointly
controlled entity Asset management company for
ICICI Prudential Mutual Fund 51.00%
24. ICICI Prudential Trust Limited
1
India Jointly
controlled entity Trustee company for ICICI
Prudential Mutual Fund 50.80%
25. TCW/ICICI Investment Partners Limited
2
(formerly known as TCW/ICICI Investment
Partners LLC)
Mauritius Jointly
controlled entity Asset management 50.00%
26. Rainbow Fund
3
India Associate Unregistered venture capital fund 23.91%
27. Financial Inclusion Network & Operations
Limited
3
India Associate Support services for financial
inclusion 27.65%
28. I-Process Services (India) Private Limited
3
India Associate Services related to back end
operations 19.00%
29. I-Solutions Providers (India) Private Limited
3
India Associate Services related to sales and
promotion activities 19.00%
30. NIIT Institute of Finance Banking and
Insurance Training Limited
3
India Associate Education and training in banking
and finance 18.94%
31. Prize Petroleum Company Limited
3
India Associate Oil exploration and production 35.00%
32. ICICI Merchant Services Private Limited
3
India Associate Merchant servicing 19.00%
33. Mewar Aanchalik Gramin Bank
3
India Associate Banking 35.00%
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.
7. During the quarter ended June 30, 2010, Loyalty Solutions & Research Limited ceased to be a consolidating entity and accordingly, has
not been consolidated.
8. During the quarter ended March 31, 2011, ICICI West Bengal Infrastructure Development Corporation Limited ceased to be a
consolidating entity and accordingly, has not been consolidated.
9. ICICI Prudential Pension Funds Management Company Limited is a wholly owned subsidiary of ICICI Prudential Life Insurance
Company Limited.
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.
schedules