ICICI Bank 2015 Annual Report Download - page 71

69Annual Report 2014-2015
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL
A. Remuneration to Managing Director, Whole-time Directors and/or Manager:
Sl.
No.
Particulars of Remuneration Chanda Kochhar N. S. Kannan K. Ramkumar 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 2015 - (A) 37,076,818 23,076,540 23,017,326 22,137,896 105,308,580
Bonus paid in fiscal 2015 including deferred
bonus for previous three years - (B)
13,441,054 9,009,916 9,009,916 8,447,368 39,908,254
(b) Value of perquisites u/s 17(2) of the
Income-tax Act, 1961
Perquisites - (C) 570,86213,621,143 4,878,031 2,751,659 11,821,695
(c) Profits in lieu of salary under section
17(3) of the Income-tax Act, 1961
0 0 0 0 0
2. Stock Option (Perquisite on stock options
exercised in fiscal 2015, w.r.t. options granted
upto 10 years prior to date of exercise)
31,470,000 78,712,800 308,029,220 62,170,260 480,382,280
3. Sweat Equity 0 0 0 0 0
4. Commission (as % of Profit/Others) 0 0 0 0 0
5. Others 0 0 0 0 0
(A)+(B)+(C) Total remuneration paid in fiscal
2015 (excludes perquisites on stock options
reported in point 2)
51,088,734 35,707,599 36,905,273 33,336,923 157,038,529
Ceiling as per the Act2
1. Does not include superannuation perquisite, since it is cashed out and hence included in Salary and Allowances for fiscal 2015 - (A).
2. 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 Reserve Bank of India. The remuneration is however well within the limits prescribed under the
Companies Act, 2013.
B. Remuneration to other directors:
1. Independent Directors
Particulars of
Remuneration
Name of Directors Total
Amount
K. V. Kamath Dileep
Choksi
Homi
Khusrokhan
M. S.
Ramachandran
Tushaar
Shah V. K. Sharma V. Sridar
Fee for attending
Board/Committee
meetings
Commission
Others, please
specify (refer Note 1)
1,600,000
3,000,000
900,000
–
1,540,000
–
1,380,000
–
400,000
–
540,000
–
1,280,000
–
7,640,000
3,000,000
Total (1) 4,600,000 900,000 1,540,000 1,380,000 400,000 540,000 1,280,000 10,640,000
2. Other Non-Executive Directors - Please refer Note 2
Total (2) – – – – – – – –
Total (B)=(1+2) 4,600,000 900,000 1,540,000 1,380,000 400,000 540,000 1,280,000 10,640,000
Total Managerial
Remuneration
167,678,529
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. The Chairman is paid an annual remuneration of ` 3,000,000 which has been
approved by RBI.