ICICI Bank 2013 Annual Report Download - page 12

available on the Bank’s website (www.icicibank.com) and will also be
available for inspection by any Member of the Bank at its Registered
Office and Corporate Office and also at the registered offices of the
concerned subsidiaries. As required by Accounting Standard-21 (AS-
21) issued by the Institute of Chartered Accountants of India, the
Bank’s consolidated financial statements included in this Annual Report
incorporate the accounts of its subsidiaries and other consolidating
entities. A summary of key financials of the Bank’s subsidiaries is also
included in this Annual Report.
During fiscal 2013, ICICI Bank formed a joint venture with Bank of
Baroda, Citicorp Finance and Life Insurance Corporation of India, to
incorporate India Infradebt Limited, India’s first infrastructure debt fund
structured as a non-banking finance company.
DIRECTORS
Pursuant to the provisions of the Banking Regulation Act, 1949, Sridar
Iyengar retired from the Board effective April 30, 2013 on completion
of eight years as a non-executive Director. The Board placed on record
its deep appreciation and gratitude for his guidance and contribution
to the Bank.
The Board, at its Meeting held on April 26, 2013, appointed Dileep
Choksi, a chartered accountant and former Joint Managing Partner of
Deloitte in India as an additional Director effective April 26, 2013. Dileep
Choksi holds office upto the date of the forthcoming Annual General
Meeting (AGM) and is eligible for appointment.
In terms of the provisions of the Companies Act, 1956 and the
Articles of Association of the Bank, K. V. Kamath, Tushaar Shah and
Rajiv Sabharwal would retire by rotation at the forthcoming AGM and
are eligible for re-appointment. K. V. Kamath, Tushaar Shah and Rajiv
Sabharwal have offered themselves for re-appointment.
The Members of the Company previously by way of postal ballot in
February 2009, approved the appointment of K. V. Kamath as non-
executive Chairman of the Bank effective May 1, 2009 upto April 30,
2014 and the re-appointment of Chanda Kochhar as Joint Managing
Director & CFO effective April 1, 2009 upto April 30, 2009 and her
appointment as Managing Director & CEO effective May 1, 2009 upto
March 31, 2014.
“In our continuing
endeavour to make
Khayaal Aapka come
alive to our customers,
we have rolled out 24x7
fully electronic branches
and electronic lobbies.
They are the first of
their kind in India. They
give our customers the
convenience and freedom
to transact around the
clock. In addition, our
segmented approach
to business has been
designed to offer the
best in class experience
in banking, across
customer segments.
All our employees have
internalised the Khayaal
Aapka spirit. They look
forward to making
every engagement
with our customers an
enriching and satisfying
experience.”
Directors’ Report
K. RAMKUMAR
Executive Director
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