ICICI Bank 2016 Annual Report Download - page 74

72
Directors’ Report
Annual Report 2015-2016
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PE R S O NN EL
A. Remuneration to Managing Director, Wholetime Directors and/or Manager:
Sl.
No. Particulars of Remuneration
Chanda
Kochhar
N. S.
Kannan
K.
Ramkumar
Vishakha
Mulye1
Rajiv
Sabharwal
Amount in `Total (`)
1. Gross Salary
(a) Salary as per provisions contained in
section 17(1) of the Income-tax Act, 1961
Salary and Allowances for Fiscal 2016 - (A) 39,081,252 26,423,293 26,253,960 9,440,635 25,318,039 126,517,179
Bonus paid in Fiscal 2016 including deferred
bonuses for previous three years - (B) 22,855,786 15,320,773 15,320,773 –13,407,760 66,905,092
(b) Value of perquisites u/s 17(2) of the
Income-tax Act, 1961
Perquisites - (C) 3,979,418 3,505,242 4,576,000 33,16724,085,404 16,179,231
(c) Prots in lieu of salary under section
17(3) of the Income-tax Act, 1961 0 0 0 0 0 0
2. Stock Option (Perquisite on stock options
exercised in scal 2016, w.r.t options granted
upto 10 years prior to date of exercise) 120,326,510 0 0 0 16,388,900 136,715,410
3. Sweat Equity 0 0 0 0 0 0
4. Commission (as % of Prot/Others) 0 0 0 0 0 0
5. Others 0 0 0 0 0 0
(A)+(B)+(C) Total remuneration paid in scal
2016 (excludes perquisites on stock options
reported in point 2) 65,916,456 45,249,308 46,150,733 9,473,802 42,811,203 209,601,502
Ceiling as per the Act 3
1. Vishakha Mulye has joined the services of the Bank on December 2, 2015. Pursuant to approval granted by Reserve Bank of India
(RBI) vide its letter dated January 15, 2016, Vishakha Mulye assumed office as executive Director with effect from January 19, 2016.
2. Does not include superannuation perquisite, since it is cashed out and hence included in Salary and Allowances for fiscal 2016 - (A).
3. Being a Banking Company, the provisions of Banking Regulation Act, 1949 apply to the Bank and the remuneration of every wholetime
Director is subject to the approval of RBI. The remuneration is however well within the limits prescribed under the Companies Act, 2013.
B. Remuneration to other
Di r ecto r s :
1. Independent Directors
Particulars of
Remuneration
Name of Directors Total
Amount
K. V.
Kamath
M. K.
Sharma
Dileep
Choksi
Homi
Khusrokhan
M. S.
Ramachandran
Tushaar
Shah
V. K.
Sharma
V.
Sridar
Fee for attending
Board/Committee
meetings 380,000 860,000 1,420,000 2,200,000 1,940,000 700,000 860,000 1,600,000 9,960,000
Commission
– – – – – – – – –
Others, please
specify (see Note 1) 750,000 2,250,000 – – – – – 3,000,000
Total (1) 1,130,000 3,110,000 1,420,000 2,200,000 1,940,000 700,000 860,000 1,600,000 12,960,000
2. Other Non-executive Directors – Please refer Note 2
Total (2)
– – – – – – – – –
Total (B)=(1+2) 1,130,000 3,110,000 1,420,000 2,200,000 1,940,000 700,000 860,000 1,600,000 12,960,000
Total Managerial
Remuneration 222,561,502
Overall Ceiling as per
the Act (refer Note 3)
Note 1: Pursuant to Section 35B of the Banking Regulation Act, 1949 the appointment/re-appointment and remuneration payable to the
Chairman of a Bank is subject to approval of RBI. K. V. Kamath was Chairman of the Bank till close of business hours on June 30, 2015.