BL- 2 Individual Assignment

Company Taken- Axis Bank

Q1. Mention details about the type of the company, date of its incorporation, registered
office address of the company and its CIN.
Ans- Type of bank- Axis Bank is the third largest private sector bank in India.
Date of incorporation- Incorporated on 27th April, 1995
Axis Bank is one of the first new generation private sector banks to have begun operations in
1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of
India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India
(LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd.,
Registered Office Address- AXIS BANK LIMITED Corporate Office “Axis House”, 7th
Floor, C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai -
400 025
CIN- Axis Bank Limited's Corporate Identification Number is
(CIN) L65110GJ1993PLC020769 and its registration number is 20769. Its Email address is
shareholders@axisbank.com.
Q2. What is the company’s existing business? Explain in about 50-75 words?
Ans-
Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an
Indian banking and financial services company headquartered in Mumbai, Maharashtra.
The Bank offers the entire spectrum of financial services to customer segments covering
Large and Mid-Corporates, MSME, Agriculture and Retail Businesses.

The Bank has a large footprint of 4,594 domestic branches (including extension counters)
with 11,333 ATMs & 5,710 cash recyclers spread across the country as on 31st March, 2021.
The Bank has 6 Virtual Centres and has over 1500 Virtual Relationship Managers as on 31st
March 2021.The Overseas operations of the Bank are spread over eight international offices
with branches at Singapore, Dubai (at DIFC) and Gift City-IBU; representative offices at
Dhaka, Dubai, Abu Dhabi, Sharjah and an Overseas subsidiary at London, UK. The
international offices focus on Corporate Lending, Trade Finance, Syndication, Investment
Banking and Liability Businesses.

With a balance sheet size of Rs. 9,96,118 crores as on 31st March 2021, Axis Bank has
achieved consistent growth and with a 5 year CAGR (2015-16 to 2020-21) of 13% each in
Total Assets & Advances and 15% in Deposits.
Q3. What are its main products and services? Name some of the company’s brands, if any.
Ans- Products-
Accounts. Savings Account. Axis Direct Invest Account. safe Custody.
Deposits. Express FD. Fixed Deposits.
Cards. Credit Cards. Debit Cards.
Loans. 24x7 Loans. Home Loan.
 Forex. Forex Card.
Investments. Mutual Funds. RBI Floating Rate Savings Bonds.
Insurance. Life Insurance. Bima Uphaar Yojana.
SIP

Services- Internet Banking, E-statements and Axis Pay Go

Brands- Axis Asset Management Company Ltd. Axis Mutual Fund Trustee Ltd. Axis Capital
Ltd. Axis Finance Ltd. Axis Securities Ltd. A.TREDS Ltd. Axis Bank UK Ltd. Axis Trustee
Services Ltd. Freecharge Accelyst Solutions Private Ltd. Axis Private Equity Ltd
Q4. State the high and the low share prices of the company during the Financial Year
(F.Y.) 2019-20 and F.Y. 2020-21.
Ans-

Date Open High Low Close

2022 680.00 815.90 679.00 782.85

2021 621.90 866.60 617.00 678.55

2020 755.00 760.60 285.00 620.35

2019 621.20 826.55 604.65 754.00

Q5. Mention about the amount of Dividend per share, date of its declaration and date of
its payment, whether it was Interim / Final Dividend declared / distributed / paid by
the company during the F.Y. 2019-20 and F.Y. 2020-21.
Ans- Dividend per share

25/04/2019 04/07/2019 Final 50% Rs.1.0000 per share (50%) Final Dividend
2020-21 Nil
Q6. What is the amount transferred of dividend transferred to the Investor Education
and Protection Fund (IEPF) Account during the F.Y. 2020-21 and to which F.Y. did
the amount transferred to IEPF during the F.Y. 2020-21 belong to?
Total – 2013-2020
% of dividend declared- 0.09
Total Amount of dividend declared- 46,89,68,55,656
In case the unclaimed dividend(s) for the financial year 2013-14 is not claimed on or before 2
August, 2021, the said unclaimed dividend(s) along with the underlying equity share(s) of the
Bank in respect of the said financial year [where the dividends have not been claimed by the
concerned shareholders for seven consecutive financial years] will be liable to be transferred
by the Bank to the account of the IEPF Authority, in accordance with the IEPF Second
Amendment Rules.

Q7. Who is the Managing Director and / or CEO of the company and since when he /
she is /are holding that position/s?
Ans - The Reserve Bank of India (RBI) approved the re-appointment of Mr Amitabh
Chaudhry as Managing Director and Chief Executive Officer (CEO) of leading private lender
- Axis Bank for a period of three years. ( Since 2019)
Q8. Mention the Board of Directors of the company? Also give the classification of
executive and non-executive directors.
Ans- 1. Shri Rakesh Makhija- Independent Non-Executive (Part-Time) Chairman
2. Shri Amitabh Chaudhry- Managing Director & CEO
3. Shri S. Vishvanathan- Independent Non-Executive
4. Smt. Ketaki Bhagwati -Independent Non-Executive
5. Shri Stephen Pagliuca Nominee Director – Entities affiliated to BAIN Capital
6. Shri Ashish Kotecha- Alternate Director to Shri Stephen Pagliuca, Nominee Director –
Entities affiliated to BAIN Capital [Equity Investor]
The Board has an optimum combination of Executive and Non-Executive Directors with
Independent Directors constituting more than one-third of its total strength. The Board has 12
Directors, comprising of 6 Independent Directors, 1 Managing Director & CEO, 2 Executive
Directors and 3 Nominee Directors.
Q9. Who are the Whole-time Directors of the company?
Ans- Amitabh Chaudhary
Q10. Who is the Independent Director/s of the company?
Ans- S. Vishvanathan
Ketaki Bhagwati
Meena ganesh
Q11. Who is the Woman / Women Director/s of the company?
Ans- Meena Ganesh- Independent Non- executive director
Ketaki Bhagwati – Same as above
Vasantha Govindan- Non – executive Director
Q12. Mention the Nominee Directors, if any, of the company.
Ans- Stephen Pagliuca- Non executive nominee Director
Vasantha Govindan- Non- executive Nominee Director

Q13. What is the total strength of the directors in the company and is it as per the
requirements of the Companies Act, 2013?
Ans- The composition of the Board is governed under the relevant provisions of the
Companies Act, 2013 read with the relevant rules made thereunder, the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015 (the SEBI Listing Regulations), the Banking Regulation Act, 1949, the guidelines
issued by the Reserve Bank of India (RBI), as amended, from time to time and the Articles of
Association of the Bank. The Board has an optimum combination of Executive and Non-
Executive Directors with Independent Directors constituting more than one-third of its total
strength. The Board has 12 Directors, comprising of 6 Independent Directors, 1 Managing
Director & CEO, 2 Executive Directors and 3 Nominee Directors. The Board is led by Non-
Executive (Part-Time) Chairperson, who is an Independent Director.
The Board also has 3 Women Directors, 2 of them are Independent Directors and 1 Woman
Director is the Nominee of SUUTI, Promoter of the Bank.
Yes, it is per the requirements of Company Act, 2013.
Q14.
Ans- NOTICE is hereby given that the Twenty Seventh (27th) Annual General Meeting (the
“AGM”) of the Members of Axis Bank Limited (the “Bank”) will be held on Friday, 30
July, 2021 at 10:00 A.M., through Video Conferencing (“VC”), to transact the business
stated herein, in compliance with the provisions of the Companies Act

02-07-2020- Video AGM 31-07-2020

Conferencing

26-04-2019 AGM 20-07-2019

H. T. Parekh Auditorium,
AMA Complex, ATIRA, Dr.
Vikram Sarabhai Marg,
Ahmedabad - 380 015,

16-05-2018 AGM 20-06-2018

28-06-2017 AGM 26-07-2017

 26-04-2016 AGM 22-07-2016

Q15. State briefly significant information about the company since April 1, 2020 till
date, if any, that may have an impact on the decision of the existing investors /
potential investors. The information must be supported by proper and reliable
reference. (Mention the source/s for this question along with its answer)
Ans- During the year, we started a multi-year technology transformation programme that will
accelerate our journey towards our goal of being a sustainable future-ready Bank. We have
made significant investment in the ‘Business Solutions Group’ to drive innovative technology
solutions and build greater collaboration between business and technology. We have adopted
agile methodology with multiple cross-functional squads working on over 220 high-priority,
organisation-wide transformation projects. The execution of these projects have largely
remained on track with 50% of them fully completed with promising outcomes in the form of
reduction in turnaround times, improved productivity and better customer experience.
Source- Annual report of Axis Bank 2021
Part B: Other Information
Q1. Who are the members of the Audit Committee? Mention the details about the
meetings held by the Committee?
Ans- The Audit Committee of the Board and the Special Committee of the Board of Directors
for Monitoring of Large Value Frauds have Prof. Samir Barua, Shri Rakesh Makhija and
Shri B. Baburao as common members.
Brief Description of terms-
1.To provide direction and to oversee the operation of the audit function.
2. To review the internal audit system and concurrent audit system
3. To ensure that the financial statement is correct, sufficient and credible.
4. To review functioning of whistle Blower and Vigilance Mechanisms
5. To approve any subsequent modifications of truncations
Q2. Who are the company’s Auditors and Secretarial Auditor? To whom is the Audit
Report and the Secretarial Audit Report addressed to?
Ans- Auditor- Sudhir Maheshwari ACA
Secretarial Auditor- M/s BNP and Associates
The secretarial audit report is addressed to the members of axis bank limited.
We have conducted a Secretarial Audit of the compliance of applicable statutory provisions
and the adherence to good corporate practices by Axis Bank Limited -CIN No.
L65110GJ1993PLC020769 (hereinafter called the ‘Bank’) during the financial year from 1
April, 2020 to 31 March, 2021, (‘audit period’ / ‘period under review’). We conducted the
Secretarial Audit in a manner that provided us a reasonable basis for evaluating the
company’s corporate conducts / statutory compliances and expressing our opinion thereon.
Q3. Who are the signatories to the financial statements for F.Y. 2020-21?
Ans- The financial statements should also be signed by Managing Director, CEO, CFO,
and the Company Secretary wherever such functionaries are mandated, whether or not
they are present at the Board meeting at which the accounts are adopted.
Date of signing of the Balance sheet shall be any date on or after the date of Board
Meeting in which the Financial Statement are approved by the Board of Directors

Q4. What is the amount of the auditor’s remuneration? Give the detailed breakup of
the same.
Ans-

Breakdown of amount of remuneration awards for the financial year to show fixed and
variable, deferred and non-deferred, different forms used: - Fixed `46.00 crores4 – Variable-
43.69 crores
Q5. Who are the members of the CSR Committee? Mention the details about the
meetings held by the Committee.
Ans-

Rakesh Makhija Chairman

Rajiv Anand Member

Meena Ganesh Member

The CSR Committee is the nodal agency which guides the Bank in implementation of the
CSR Projects. The roles and responsibilities of the CSR Committee has been set out in its
Charter, which is reviewed and approved by the Board of Directors of the Bank.
Q6. What amount was spent by the company for its CSR activities? What was the
proportion of the said amount to the Net Profit of the company?

100 Cr on Corporate Social Responsibility (CSR) in FY 2020.

As per the Sub-section 1 of Section 135 of Companies Act, 2013 it is a mandatory provision
to provide a contribution of 2% of the average net profits of companies.

Q7. What are the principal business activities (at least 3) of the company and what
is the proportion of the same to the gross turnover of the company?
Ans- The bank offers lending services to individuals and small businesses, along with
liability products, card services, Internet banking, automated teller machines (ATM) services,
depository, financial advisory services, and Non-resident Indian (NRI) services.
Corporate banking
Transaction banking: Axis Bank provides products and services related to transaction
banking to customers in areas of current accounts, cash management services, capital market
services, trade, foreign exchange and derivatives, cross-border trade and correspondent
banking services and tax collections on behalf of the Government and various State
Governments in India.[29]
Investment banking and trustee services: The bank provides investment banking and
trusteeship services through its owned subsidiaries. Axis Capital Limited provides investment
banking services relating to equity capital markets, institutional stock brokering besides
M&A advisory. Axis Trustee Services Limited is engaged in trusteeship activities, acting as a
debenture trustee and as a trustee to various securitization trusts.

Q8. What is the amount of remuneration paid to the Key Managerial Personnel of
the company?

Ans-

9. What is the remuneration paid to the Independent Directors of the company?

Ans-
10. What is the remuneration paid to the other Directors of the company?
Ans-
11. What is the proportion of the remuneration (of the managing director and / or
whole-time director/s and / or manager) to the net profits of the company and is it
in accordance of the provisions of the Companies Act, 2013?
Ans-
12. What is the proportion of the total managerial remuneration to the net profits
of the company and is it in accordance of the provisions of the Companies Act,
2013?
Ans-

Overall Limit on Managerial Remuneration 11% of the net profits of the company

Remuneration payable to directors who are neither managing directors nor whole-time directors

13. Mention the details about the board meetings held by the company.
Ans- However, such fixed remuneration, shall not exceed Rs. 20 lakh per annum. The
fixed remuneration shall be paid to the NEDs of the Bank, even in case of inadequacy or
absence of profits of the Bank, in any financial year.
14. Mention the details of the Equity Share Capital (Authorised, Issued, Subscribed
& Paid-up share capital) of the company.
Ans-
Authorised Capital – 4,250,000,000
Issued Capital- 3,063,748, 652
Subscribed Capital- 3,063,748, 652
Paid Up capital- 3,063,748, 652

15. What is the total turnover of the company, its net profit? Mention the Net
Profit Ratio of the company.
Ans-

Net Sales Turnover 63645.29

Private sector lender Axis Bank on Monday reported a year-on-year (y-o-y) trebling of its net
profit to ₹3,614 crore in the December quarter of FY22 on the back of higher income and
lower provisions.

Key Financial Ratios of Axis Bank (in Rs. Cr.) Mar 21 Mar 17

Net Profit Margin (%) 10.35 8.26

Operating Profit Margin (%) -12.96 -17.98

Return on Assets (%) 0.66 0.61

Return on Equity / Networth (%) 6.48