ICICI Bank 2015 Annual Report Download - page 44

42 Annual Report 2014-2015
Directors’ Report
Composition
At March 31, 2015, the Risk Committee comprised seven Directors including five independent Directors, Government
Nominee Director and the Managing Director & CEO and was chaired by K. V. Kamath, an independent Director. There
were six Meetings of the Committee during the year. The details of the composition of the Committee and attendance at
its Meetings are set out in the following table:
Name of Member Number of meetings attended
K. V. Kamath, Chairman 6/6
Dileep Choksi 5/6
Homi Khusrokhan 5/6
V. K. Sharma (w.e.f. June 7, 2014) 3/5
Arvind Kumar (upto June 6, 2014) 0/1
V. Sridar 6/6
Alok Tandon (w.e.f. July 31, 2014) 0/3
Chanda Kochhar 5/6
X. Stakeholders Relationship Committee
Terms of Reference
The functions and powers of the Committee include approval and rejection of transfer or transmission of equity shares,
preference shares, bonds, debentures and securities, issue of duplicate certificates, allotment of shares and securities
issued from time to time, review redressal and resolution of grievances of shareholders, debenture holders and other
security holders, delegation of authority for opening and operation of bank accounts for payment of interest, dividend and
redemption of securities and the listing of securities on stock exchanges.
Composition
At March 31, 2015, the Stakeholders Relationship Committee comprised three Directors including two independent
Directors and was chaired by Homi Khusrokhan, an independent Director. There were four Meetings of the Committee
during the year. The details of the composition of the Committee and attendance at its Meetings are set out in the
following table:
Name of Member Number of meetings attended
Homi Khusrokhan, Chairman 4/4
V. Sridar 4/4
N. S. Kannan 4/4
P. Sanker, Senior General Manger (Legal) is the Company Secretary of the Bank and Compliance Officer for the purpose
of listing agreement with stock exchanges. 112 shareholder complaints received in fiscal 2015 were processed. At
March 31, 2015, no complaints were pending.
Sub-division of equity shares
The Board of Directors at its meeting held on September 9, 2014 considered and approved the sub-division of one equity
share of the Bank having face value of ` 10/- each into five equity shares of face value of ` 2/- each and consequential
alteration in the relevant clauses relating to capital of the Memorandum of Association and Articles of Association of
the Bank. The sub-division of equity shares was approved by the Members of the Bank through postal ballot on
November 20, 2014. The record date of December 5, 2014 was fixed to determine the Members eligible to receive equity
shares of face value of ` 2/- each in lieu of equity shares of face value of ` 10/- each and equity shares of face value ` 2/-
each were accordingly issued to all the Members who were holding equity shares of ` 10/- each on December 5, 2014.
Pursuant to the sub-division of equity shares, additional proportionate American Depository Shares (ADS) were issued
to maintain the ratio of one ADS to two equity shares.