ICICI Bank 2013 Annual Report Download - page 145

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F67
forming part of the Consolidated Accounts (Contd.)
Sr.
no.
Name of the entity Country of
incorporation
Nature of
relationship
Nature of business Ownership
interest
schedules
12. ICICI International Limited Mauritius Subsidiary Asset management 100.00%
13. ICICI Prudential Pension Funds Management
Company Limited
1
India Subsidiary Pension fund management 100.00%
14. ICICI Prudential Life Insurance Company
Limited
India Subsidiary Life insurance 73.85%
15. ICICI Lombard General Insurance Company
Limited
India Subsidiary General insurance 73.37%
16. ICICI Prudential Asset Management
Company Limited India Subsidiary Asset management company 51.00%
17. ICICI Prudential Trust Limited India Subsidiary Trustee company 50.80%
18. ICICI Eco-net Internet and Technology Fund India Consolidated as
per AS 21
Venture capital fund 92.12%
19. ICICI Equity Fund India Consolidated as
per AS 21
Unregistered venture capital fund 100.00%
20. ICICI Emerging Sectors Fund India Consolidated as
per AS 21
Venture capital fund 99.31%
21. ICICI Strategic Investments Fund India Consolidated as
per AS 21
Unregistered venture capital fund 100.00%
22. ICICI Kinfra Limited India Consolidated as
per AS 21
Infrastructure development
consultancy
76.00%
23. ICICI Venture Value Fund India Consolidated as
per AS 21
Unregistered venture capital fund 54.35%
24. I-Ven Biotech Limited India Consolidated as
per AS 21
Investment in research and
development of biotechnology
100.00%
25. TCW/ICICI Investment Partners Limited
2
Mauritius Jointly
controlled entity
Asset management 50.00%
26. Rainbow Fund
3
India Associate Unregistered venture capital fund 23.98%
27. FINO PayTech Limited (Formerly known as
Financial Inclusion Network & Operations
Limited)
3
India Associate Support services for financial
inclusion
27.25%
28. I-Process Services (India) Private Limited
3
India Associate Services related to back end
operations
19.00%
29. NIIT Institute of Finance Banking and
Insurance Training Limited
3
India Associate Education and training in
banking and finance
18.79%
30. ICICI Merchant Services Private Limited
3
India Associate Merchant servicing 19.00%
31. Mewar Aanchalik Gramin Bank
3
India Associate Banking 35.00%
32. India Infradebt Limited
3
India Associate Infrastructure finance 31.00%
1. ICICI Prudential Pension Funds Management Company Limited is a wholly owned subsidiary of ICICI Prudential Life Insurance Company
Limited.
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’. The entity is in the process of liquidation.
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’
.
The financial statements of Comm Trade Services Limited have not been consolidated under AS 21, since the investment is
temporary in nature. Investment in 3i Infotech Limited (3i Infotech) in which the Group holds 26.74% equity shares has not been
accounted as per equity method under AS 23 at March 31, 2013 based on the severe long-term restrictions on 3i Infotech under
restructuring arrangement that impair the ability of 3i Infotech to transfer funds to its investors and the Group’s intention to
reduce the stake in 3i Infotech below 20.00% in the near future.