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ICICI Securities Ltd approves appointment of Non-executive Additional Directors

Posted On: 2018-10-12 11:57:02

The Board of Directors of ICICI Securities Ltd have approved the appointment of Mr. Anup Bagchi (DIN: 00105962) and Mr. Pramod Rao (DIN: 02218756) as Non-executive Additional Directors on the Board of the Company.

Mr. Anup Bagchi has been with ICICI Group for about 26 years and is currently an Executive Director of ICICI Bank Limited.

Prior to this, Mr. Bagchi was the Managing Director & CEO of ICICI Securities Limited ('the Company'), where he led capital raising by corporates. Under his leadership, the Company won the prestigious Outlook Money - India's Best e-Brokerage House for seven consecutive years. It also won the CNBC Awaaz Consumer Award for the Most Preferred Brand of Financial Advisory Services. He also served as a director of ICiCI Securities lnc., a step-down subsidiary of ICICI Securities Limited, based out of the United States of America.

Mr. Bagchi has been honoured with 'The Asian Banker Promising Young Banker Award'. He has also been honoured with 'Industry Newsmaker Award' by Zee Business for his tremendous and unmatched contribution in the field of Finance.

He was on the Executive Committee of National Securities Depository Ltd., (NSDL) as 'User Representative'. He was also a member of the Advisory Committee of BSE Limited.

Mr. Bagchi was also a member of the Board of Directors of Financial Planning Standards Board India.

Mr. Bagchi was a member of SEBI's Secondary Markets Advisory Committee (SMAC) and Co-Chairman of Federation of Indian Chambers of Commerce & Industry (FICCI) Capital Markets Committee. He was also the member of SEBI's Fair Market Conduct Committee and Committee on Financial and Regulatory Technologies.

Mr. Bagchi is a member of SEBI's Risk Management Review Committee. Mr. Bagchi has a management degree from the Indian Institute of Management, Bangalore and an engineering degree from the Indian Institute of Technology, Kanpur.

Mr. Pramod Rao joined ICICI Bank Limited ('ICICI Bank') as its Group General Counsel on August 16, 2018 and oversees the legal function for the ICICI group.

Previously, Mr. Rao had served as General Counsel for Citi India cluster (July 2013 till mid-August 2018), and was responsible for the Legal & Secretarial functions within Citi India cluster (incorporating Bangladesh & Sri Lanka). He also oversaw Citi Security & Investigative Services (CSIS), and chaired the Citi India Diversity Council and was a member of various internal management and oversight committees.

Mr. Rao previously worked with Induslaw, a law firm as a resident partner, overseeing its Banking and Finance practice. He joined IndusLaw in 2012 and was instrumental to setting up the firm's office in Mumbai.

Prior to Induslaw, Mr. Rao worked with ICICI Bank for over 15 years. In August 1996, he joined the erstwhile Industrial Credit & Investment Corporation of India Limited (erstwhile ICICI, which subsequently in a reverse merger became ICICI Bank) upon obtaining B.A.LL.B (Hons) degree from the National Law School of India University, Bangalore (NLSIU) after a brief stint at Mulla and Mulla Craigie Blunt & Caroe. He then rose to become the General Counsel of ICICI Bank in December 2005 and served in that capacity until April 2012. During the course of his career at ICICI Bank, Mr. Rao has overseen the legal function for all segments of the Bank. During his time there, he also advised the Board of Directors and various Board constituted committees and served on the Board of Directors of various ICICI group companies. Mr. Rao is presently a member of the Legal & Banking Operations Committee of Indian Banks' Association (IBA) and of the National Committee for Regulatory Affairs constituted by the Confederation of Indian Industry (CII).

Mr. Rao is the Chairman of the Fund Raising & Resource Mobilization Committee of IDIA - Increasing Diversity by Increasing Access - an NGO dedicated to assisting students from underprivileged background entering premier law schools in India. He is also a member of the Governing Board of the NLSIU Alumni Association.

Mr. Rao has a deep interest in LawTech, having advised/mentored and served on the Board of Directors of two such startups in the last few years.

Mr. Rao also participates in and contributes to various law and regulatory reform initiatives of the government, regulators and industry forums.

Mr. Anup Bagchi (DIN: 00105962) and Mr. Pramod Rao (DIN: 02218756) are not related to any other Director of the Company.

Shares of ICICI Securities Ltd was last trading in BSE at Rs.230 as compared to the previous close of Rs. 239.8. The total number of shares traded during the day was 26837 in over 1651 trades.

The stock hit an intraday high of Rs. 243.5 and intraday low of 228.15. The net turnover during the day was Rs. 6198173.


Source: Equity Bulls

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