OFFER DOCUMENT

Prudential ICICI Mutual Fund
(Rs. in crores)
Sr. No. Nature of claim Cases with Monetary Cases with no
Claim
specific
monetary
claim
Number Amount Number
1. Suits/legal proceedings filed by 214 0.28 232
shareholders/ bond holders of
ICICI Bank Limited
2. Suits/legal proceedings filed by debenture 12 11.29 190
holders against ICICI Bank Limited as
Debenture Trustees.
3. Suits filed by lessees/hirers seeking injunction 139
against ICICI Bank Limited taking possession of
vehicles pursuant to lease/hire purchase agreements
and other suits filed by retail customers.
4. Miscellaneous suits/ legal proceedings in the course 63 0.53 50
of business.
Any deficiencies in the systems and operations of the sponsor of the mutual fund or any company associated with the
sponsor in any capacity such as the AMC or the trustee company which SEBI has specifically advised to be disclosed in
the offer document, or which has been notified by any other regulatory agency.
Capital Markets : ICICI Bank acts as bankers to the market offerings of companies on account of raising of equity or
debt, buy back of equity and for acquisition of equity on account of takeovers. These companies are required to maintain
the subscription funds with the bankers to the offering until the allotment of shares/buy back of shares and the refund
of excess subscription is completed. This process generally takes about 15 to 30 days, resulting in short-term deposits
with ICICI Bank.
SEBI had issued a notice in the matter of North Star Gems (India) Ltd to show cause as to why Bhadra, Ahmedabad
branch of the erstwhile Bank of Madura should not be suspended from conducting merchant banking activities for a
period of 6 months. ICICI Bank filed its detailed reply with SEBI. SEBI in terms of their Order dated October 16,2002 took
note of the fact that RBI had not indicated any malafide actions on the part of bank officials and also the fact that the
Bank had taken disciplinary action against the concerned employees and issued a warning to Bhadra Branch of ICICI
Bank with further direction to that Branch to act with due skill, care and diligence while acting as Banker to an Issue.
Debenture Trusteeship: The erstwhile ICICI Limited had provided debenture trusteeship services since 1983, and acted
as trustee for the holders of convertible and non-convertible debentures issued in the public and private markets. During
SEBI’s inspection of the Debenture Trustee operations of the erstwhile ICICI Limited, observations on certain shortcomings
were made by SEBI in its inspection report. The erstwhile ICICI Limited had initiated suitable action based on SEBI report
and had submitted a detailed reply to SEBI. The matter is being examined by SEBI. The erstwhile ICICI Limited had
subsequently, with a view to exit this business, been divesting the portfolio of debenture trusteeship in favour of other
debenture trustees. ICICI Bank continues to act as a debenture trustee for the remaining companies for which the erstwhile
ICICI Limited were debenture trustees. ICICI Bank has been permitted by SEBI to act as a debenture trustee.
SUBSIDIARIES
1. ICICI Securities and Finance Company Limited (ICICI Securities): ICICI Securities was set up in February 1993 to provide
investment-banking services to investors. ICICI Securities has three main business linesl
Corporate advisory and Mergers and Acquisitions
l Fixed income; and
l Equities
With the merger of erstwhile ICICI Limited with ICICI bank becoming effective, ICICI Bank holds 99.92% of the share
capital of ICICI Securities. ICICI Securities is a Merchant Banker, Underwriter and Portfolio Manager registered with SEBI.
Also ICICI Securities is a Primary Dealer registered with RBI engaged in acquisition and trading of Government Securities.
Currently ICICI Securities provides services such as issue management underwriting, placement of debt and equity,
corporate advisory services including mergers, amalgamations and spin offs, capital structuring, valuations and fairness
opinion reports and as a Primary Dealer actively involved in money market operations, and trading in securities. It also
provides specialised services in the areas of private equity syndication and privatisation of government entities. In addition,
ICICI Securities has a research team, which identifies investment opportunities and provides timely investment advice to
clients. ICICI Securities is amongst the largest arranger of funds in Debt and Equity segments and also amongst the
leading advisors in Mergers and Acquisitions. It is also amongst the highest capitalized Investment Banks in India with
net worth of Rs.3,191.80 million as on March 31, 2002.
94