ICICI Bank 2014 Annual Report Download - page 42

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CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARNINGS AND OUTGO, UNDER SECTION 217(1)(e) OF THE COMPANIES ACT, 1956.
TheprovisionsofSection217(1)(e)oftheCompaniesAct,1956relatingtoconservationofenergyand
technologyabsorptiondonotapplytotheBank.TheBankhas,however,usedinformationtechnology
extensivelyinitsoperations.
GREEN INITIATIVES IN CORPORATE GOVERNANCE
TheBankhassincethelastthreeyearsinlinewiththe‘GreenInitiative’circularsissuedbyMinistryof
Corporate Affairs (MCA) effected electronic delivery of Notice of Annual General Meeting and Annual
ReportpreviouslytothoseshareholderswhoseemailidswereregisteredwiththerespectiveDepository
Participantsanddownloadedfromthedepositoriesviz.NationalSecuritiesDepositoryLimited(NSDL)/
CentralDepositoryServices(India)Limited(CDSL).SecuritiesandExchangeBoardofIndia(SEBI)have
also in line with the MCA circulars and as provided in Clause 32 of the Listing Agreement executed
with the stock exchanges, permitted listed entities to supply soft copies of full annual reports to all
those shareholders who have registered their email addresses for the purpose. The Companies Act,
2013andtheunderlyingrulesalsopermitthedisseminationoffinancialstatementsinelectronicmode
totheshareholders.YourDirectorsarethankfultotheshareholdersforactivelyparticipatinginthegreen
initiativeandseekyourcontinuedsupportforimplementationofthegreeninitiative.
DIRECTORS’ RESPONSIBILITY STATEMENT
TheDirectorsconfirm:
1. that in the preparation of the annual accounts, the applicable accounting standards have been
followed,alongwithproperexplanationrelatingtomaterialdepartures;
2. thattheyhaveselectedsuchaccountingpoliciesandappliedthemconsistentlyandmadejudgements
andestimatesthatarereasonableandprudent,soastogiveatrueandfairviewofthestateofaffairs
oftheBankattheendofthefinancialyearandoftheprofitoftheBankforthatperiod;
3. thattheyhavetakenproperandsufficientcareforthemaintenanceofadequateaccountingrecords,in
accordancewiththeprovisionsoftheBankingRegulationAct,1949andtheCompaniesAct,1956for
safeguardingtheassetsoftheBankandforpreventinganddetectingfraudandotherirregularities;and
4. thattheyhavepreparedtheannualaccountsonagoingconcernbasis.
ACKNOWLEDGEMENTS
ICICI Bank is grateful to the Government of India, RBI, SEBI, IRDA and overseas regulators for their
continuedco-operation,supportandguidance.ICICIBankwishestothankitsinvestors,thedomesticand
internationalbankingcommunity,ratingagenciesandstockexchangesfortheirsupport.
ICICIBankwouldliketotakethisopportunitytoexpresssincerethankstoitsvaluedclientsandcustomers
fortheircontinuedpatronage.TheDirectorsexpresstheirdeepsenseofappreciationofalltheemployees,
whoseoutstandingprofessionalism,commitmentandinitiativehasmadetheorganisation’sgrowthand
successpossibleandcontinuestodriveitsprogress.Finally,theDirectorswishtoexpresstheirgratitude
totheMembersfortheirtrustandsupport.
ForandonbehalfoftheBoard
K.V. Kamath
May20,2014 Chairman
Compliance with the Group Code of Business Conduct and Ethics
IconfirmthatallDirectorsandmembersoftheseniormanagementhaveaffirmedcompliancewithGroup
CodeofBusinessConductandEthicsfortheyearendedMarch31,2014.
ChandaKochhar
Managing Director & CEO
May20,2014
Directors’Report