ICICI Bank 2016 Annual Report Download - page 75

73Annual Report 2015-2016
The annual remuneration as approved by RBI for K. V. Kamath was ` 3,000,000 and for the period April 1, 2015 – June 30, 2015, the
remuneration paid was ` 750,000. M. K. Sharma’s appointment as Chairman effective July 1, 2015 alongwith an annual remuneration
of ` 3,000,000 was approved by RBI vide its letter dated June 30, 2015. Accordingly M. K. Sharma was paid remuneration for the
period July 1, 2015 – March 31, 2016 aggregating to ` 2,250,000.
Note 2: Alok Tandon is a non-executive Director nominated by the Government of India. As a Government Nominee Director he is
not eligible to be paid any sitting fees, he is only entitled to reimbursement of expenses for attending Board/Committee Meetings.
Note 3: Being a Banking Company, the provisions of Banking Regulation Act, 1949 apply to the Bank and any payments to non-
executive/independent Directors other than sitting fees can be paid only with the approval of RBI. Independent Directors are paid
only sitting fees except for Chairman who is paid an annual remuneration with the approval of RBI as mentioned in Note 1. All
non-executive/independent Directors are entitled to reimbursement of expenses for attending Board/Committee Meetings. The
remuneration is however well within the limits prescribed under the Companies Act, 2013.
C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD
Sl.
No. Particulars of Remuneration
P. Sanker Rakesh Jha
Company Secretary CFO
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) 14,373,512 16,831,023 31,204,535
Bonus Paid in Fiscal 2016 - (B) 4,149,852 5,009,256 9,159,108
(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961
Perquisites – (C) 2,523,186 3,775,479 6,298,665
(c) Prots in lieu of salary under section 17(3) of the Income-tax
Act, 1961 0 0 0
2 Stock Option (Perquisite on stock options exercised in Fiscal 2016 w.r.t
Options granted upto 10 years prior to date of exercise) 0 4,314,400 4,314,400
3 Sweat Equity 0 0 0
4 Commission (as % of Prot/Others) 0 0 0
5Others 0 0 0
(A)+(B)+(C) Total Remuneration paid in Fiscal 2016
(excludes Perquisites on Stock Options reported in point 2) 21,046,550 25,615,758 46,662,308
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
T y p e
Section
of the
Companies
Act
Brief
Description
Details of Penalty/
Punishment/
Compounding
fees imposed
Authority
[RD / NCLT/
Court]
Appeal made,
if any (give
Details)
A. COMPANY
Penalty
NonePunishment
Compounding
B. DIRECTORS
Penalty
NonePunishment
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
NonePunishment
Compounding
May 26, 2016
M. K. Sharma
Chairman