ITC Ltd — Regulatory Filings 2019

May 24, 2019

ITC Limited Virginia House 37 J. L. Nehru Road Kolkata 700 071, India Tel. : 91 33 2288 9371 Enduring Value Fax : 91 33 2288 4016 / 1256 / 2259 / 2260

24thMay, 2019

The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza Plot No. C-1, G Block Bandra-Kurla Complex Bandra (East) Mumbai 400 051

The General Manager Dept. of Corporate Services BSE Ltd. P. J. Towers Dalal Street Mumbai 400 001

The Secretary The Calcutta Stock Exchange Ltd. 7, Lyons Range Kolkata 700 001

Dear Sirs,

Related Party Transactions

We enclose, in terms of Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, statement on related party transactions of the Company for the half year ended 31stMarch, 2019, in the required format.

Yours faithfully,

IT & Limited

(R. K. Singhi) Executive Vice President & Company Secretary

Encl. as above.

cc: Securities Exchange Commission Division of Corporate Finance Office of International Corporate Finance Mail Stop 3-9 450 Fifth Street Washington DC 20549 U.S.A.

cc: Societe de la Bourse de Luxembourg 35A Boulevard Joseph II L - 1840 Luxembourg

Consolidated Half Yearly Disclosure of Related Party Transactions

Related Party Disclosures

1. OTHER RELATED PARTIES WITH WHOM THE COMPANY AND ITS SUBSIDIARIES HAD TRANSACTIONS:

i) Associates & Joint Ventures:

• Associates
• a) Gujarat Hotels Limited
• b) Russell Investments Limited
• c) ATC Limited
• d) International Travel House Limited
• being associates of the Group
• e) Tobacco Manufacturers (India) Limited, UK - of which the Company is an associate

Joint Ventures

• a) Maharaja Heritage Resorts Limited
• b) ITC Essentra Limited

ii) a) Key Management Personnel (KMP):

Y. C. Deveshwar #	Chairman & Non-Executive Director
S. Puri $	Managing Director
N. Anand	Executive Director
B. Sumant	Executive Director (w.e.f. 16.11.2018)
R. Tandon	Executive Director & Chief Financial Officer
S. Banerjee*	Non-Executive Director
H. Bhargava	Non-Executive Director (w.e.f. 28.07.2018)
A. Duggal*	Non-Executive Director
S. B. Mainak	Non-Executive Director (up to 23.07.2018)
S. B. Mathur*	Non-Executive Director
J. Pulinthanam	Non-Executive Director (w.e.f. 16.05.2018)
N. Rao*	Non-Executive Director
S. S. H. Rehman*	Non-Executive Director
M. Shankar*	Non-Executive Director
D. R. Simpson	Non-Executive Director

'Passed away on 11_05.2019.

Managing Director since 16.05.2018, prior to which Mr. Pun was Chief Executive Officer & Executive Director. Also appointed as the Chairman of the Company with effect from 13.05 2019.

* Independent Directors

Members - Corporate Management Committee

• S. Puri
• N. Anand
• B. Sumant
• R. Tandon
• C. Dar
• S. K. Singh
• S. Sivakumar
• R. Sridhar (up to 04.02.2019)
• K. S. Suresh

Company Secretary

R. K. Singhi

b) Relatives of Key Management Personnel:

Mrs. B. Deveshwar (wife of Mr. Y. C. Deveshwar)

Mrs. R. Tandon (wife of Mr. R. Tandon) Mrs. N. Singhi (wife of Mr. R. K. Singhi)

iii) Employee Trusts where there is significant influence:

• a) IATC Provident Fund
• b) ITC Defined Contribution Pension Fund
• c) ITC Management Staff Gratuity Fund
• d) ITC Employees Gratuity Fund
• e) ITC Gratuity Fund 'C'
• f) ITC Pension Fund
• g) ILTD Seasonal Employees Pension Fund
• h) ITC Platinum Jubilee Pension Fund
• i) ITC Bhadrachalam Paperboards Limited Management Staff Pension Fund
• j) ITC Bhadrachalam Paperboards Limited Gratuity Fund 'A'
• k) ITC Bhadrachalam Paperboards Limited Gratuity Fund 'C'
• I) ITC Hotels Limited Employees Superannuation Scheme
• m) Greenacre Holdings Limited Provident Fund
• n) Greenacre Holdings Limited Gratuity Fund

2. DISCLOSURE OF TRANSACTIONS BETWEEN THE GROUP AND RELATED PARTIES FOR THE HALF YEAR ENDED ON 31.03.2019 AND THE STATUS OF irc OUTSTANDING BALANCES AS AT 31.03.2019

The amounts outstanding are unsecured and will be settled in cash

1 post employement benefits are actuarially determined on overall basis and hence not separately provided.

2includes 1.17 Crores (2018 - Nil) attributable to remuneration of a Director which is subject to approval by the Company in General Meeting;

3During the year, the Company granted Stock Options to the Directors and KMP under its Employee Stock Option Schemes at 'market price' [within the meaning of the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014]. Since such Options are not tradeable, no perquisite or benefit is immediately conferred upon the employee by such grant of Options, and accordingly the said grant has not been considered as remuneration. However, the Group has recorded employee benefits expense by way of share based payments to employees, in accordance with Ind-AS 102, at 84.05 Crores for the half year ended 31st March, 2019 [2018(HY2) - 193.45 Crores], out of which 20.23 Crores (2018 - 29.40 Crores) is attributable to Directors and KMP.

3. INFORMATION REGARDING SIGNIFICANT TRANSACTIONS / BALANCES

ITC Pension Fund 10,70 49.66

(Generally in excess of 10% of the total transaction value of the same typeHalf Year											(f in Crores)
RELATED PARTY TRANSACTIONS SUMMARY		ended onMarch 31,2019	Half Yearended onMarch 31, 2018	RELATED PARTY TRANSACTIONS SUMMARY		Half Year endedonMarch 31, 2019	Half Year endedonMarch 31, 2018	RELATED PARTY TRANSACTIONS SUMMARY		Half Year endedonMarch 31, 2019	Half Year endedonMarch 31, 2018
	Sale of Goods I Services				Expenses Recovered				14. Outstanding Balances
	International Travel House Limited	1.93	1.58		International Travel House Limited	0,14	0.10		0 Receivables
	ITC Essentra Limited	15,58	14.36		Maharaja Heritage Resorts Limited	0.13	0.12		ATC. Limited	1.15	1.22
	2. Purchase of Goods / Services				10. Expenses Reimbursed				Maharaja Heritage Resorts Limited	3.33	3.43
	International Travel House Limited	54.42	41.33		Gujarat Hotels Limited	0.13	0.12		International Travel House Limited	0.60	1.45
	ITC Essentra Limited	134,98	116.37		ITC Essentra Limited		-0.14		ITC Essentra Limited	0.20	11.38
	3. Value of share based payment				International Travel House Limited	0.02	0.01		ii) Advances Given
	Reimbursement for Share Based Payments				11. Advances Given during the year				Employee Trust - Pension Funds	41.98	73.32
	Maharaja Heritage Resorts Limited	0.09	0.16		International Travel House Limited	0.26	0.23		Employee Trust - Gratuity Funds	17.53	14 41
	International Travel House Limited	0.39	0.56		12. Deposits Given during the year				iii) Deposits Given
	ITC Essentra Limited	0.06	0.12		Mr. Y.C. Deveshwar		-0.01		Mr. Y. C. Deveshwar	0.05	0.05
	ATC Limited	0,18	0.32		13. Remuneration to Key Manaaement Personnel #				Mrs. B. Deveshwar	0.38	0.38
	4, Rent Income				13A. Short term benefits				iv) Deposits Taken
	International Travel House Limited	0.52	0.53		Mr. Y.C. Deveshwar	8.68	12.68		International Travel House Limited	0.63	0.62
	5. Rent Paid				Mr. S. Puri	3.09	3.06		v) Payables
	Gujarat Hotels Limited	2.49	2.17		13B. Other Remuneration				International Travel House Limited	4.75	2.15
	Mrs. B. Deveshwar	0.38	0.38		Mr. Y.C. Deveshwar	0.35	0.29		ITC Essentra Limited	16,21	9.88
	6. Remuneration of Managers on Deputationreimbursed				Mr. S. Banerjee	0.35	0.31		Gujarat Hotels Limited	2.09	1.83
	Gujarat Hotels Limited	2.48	2.77		Mr. A. Duggal	0.36	0.31		ATC Limited	3.16	1.57
	7. Remuneration of Managers on Deputationrecovered				Ms. M. Shankar	0.36	0.29		15. Impairment of investment in Joint Venture asat the year end
	International Travel House Limited	1.33	1.09		Mr. S. B. Mathur	0.39	0.34		Logix Developers Private Limited	4.82	4.82
	ATC Limited	0.97	0.89		Mr. S. S. H. Rehman	0.78	0.65
	Maharaja Heritage Resorts Limited	0,25	0.34		Mr. H. Bhargava	0.36	-
	8. Contribution to Employees' Benefit Plans
	IATC Provident Fund	16.61	13.30
	ITC Defined Contribution Pension Fund	11.61	9.17

In accordance with Ind AS-102, the Group has recognised employee benefits expense by way of share based payments (Note 2), of which 20.23 Crores (2018 - 29.40 Crores) is attributable to Key Management Personnel: Mr. Y.C. Deveshwar 0.51 Crore (2018 - 0.25 Crore), Mr. S. Puri 11.84 Crores (2018 - 10.69 Crores), Mr. N. Anand 5.62 Crores (2018 - t 10.88 Crores), Mr. R. Tandon 6.50 Crores (2018 - 5.83 Crores), Mr. B. Sumant 2.68 Crores (2018 - 3.14 Crores) and Mr. R. K. Singhi 1.06 Crores (2018 - 0.18 Crore)