NTPC Limited — Audit Report / Information 2021

Jun 24, 2021

Ref. No.:01/ FA/ISD/Compliance/2020-21 Dated: 24.06.2021

Manager	General Manager
Listing Department	Department of Corporate Services
National Stock Exchange of India Ltd.	BSE Limited
Exchange Plaza	Floor 25, Phiroze Jeejeebhoy Towers
Bandra Kurla Complex, Bandra(E)	Dalal Street
Mumbai-400 051	Mumbai-400 001
Email:-cmlist@nse.co.in	Email: -corp.relations@bseindia.com

Sub: Disclosure of Related Party Transactions

Dear Sir,

In terms of Regulation 23(9) of SEBI (LODR) Regulations, 2015 please find enclosed related party transactions of NTPC Limited on standalone and consolidated basis, for the period ending 31.03.2021.

Yours faithfully,

(Aditya Dar) Executive Director (Finance)

NTPC Limited Related Party Disclosures - 31 March 2021 - Standalone

Disclosure as per Ind AS 24 'Related Party Disclosures'

a) List of related parties:

• i) Subsidiary companies:
• 1. Bhartiya Rail Bijlee Company Ltd.
• 1. Kanti Bijlee Utpadan Nigam Ltd.
• 1. NTPC Vidyut Vyapar Nigam Ltd.
• 1. NTPC Electric Supply Company Ltd.
• 1. Patratu Vidyut Utpadan Nigam Ltd.
• 1. Nabinagar Power Generating Company Ltd.
• 1. NTPC Mining Ltd. (w.e.f. 29 August 2019)
• 1. THDC India Ltd. (THDCIL) (w.e.f. 27 March 2020)
• 1. North Eastern Electric Power Corporation Ltd. (NEEPCO) (w.e.f. 27 March 2020)
• 1. NTPC EDMC Waste Solutions Private Ltd. (w.e.f. 1 June 2020)
• 1. NTPC Renewable Energy Ltd. (w.e.f. 7 October 2020)
• 1. Ratnagiri Gas & Power Private Ltd. (Joint venture company upto 30 December 2020)

Subsidiary company of THDCIL

1. TUSCO Limited

ii) Joint ventures companies:

• 1. Utility Powertech Ltd.
• 1. NTPC-GE Power Services Private Ltd.
• 1. NTPC-SAIL Power Company Ltd.
• 1. NTPC Tamil Nadu Energy Company Ltd.
• 1. Aravali Power Company Private Ltd.
• 1. NTPC BHEL Power Projects Private Ltd.
• 1. Meja Urja Nigam Private Ltd.
• 1. Transformers and Electricals Kerala Ltd.
• 1. National High Power Test Laboratory Private Ltd.
• 1. Energy Efficiency Services Ltd.
• 1. CIL NTPC Urja Private Ltd.
• 1. Anushakti Vidhyut Nigam Ltd.
• 1. Hindustan Urvarak & Rasayan Ltd.
• 1. Konkan LNG Ltd. (upto 23 February 2021)
• 1. Trincomalee Power Company Ltd.
• 1. Bangladesh-India Friendship Power Company Private Ltd.

Joint venture company of NEEPCO

1. KSK Dibbin Hydro Power Private Ltd.

iii) Key Management Personnel (KMP):

Whole Time Directors

Mr. Gurdeep Singh	Chairman and Managing Director
Mr. A.K.Gautam1	Director (Finance)	W.e.f. 18 October 2019
Mr. Dillip Kumar Patel	Director (HR)	W.e.f. 1 April 2020
Mr Ramesh Babu V.	Director (Operations)	W.e.f. 1 May 2020
Mr. Chandan Kumar Mondol	Director (Commercial)	W.e.f. 1 August 2020
Mr. Ujjal Kanti Bhattachrya	Director (Projects)	W.e.f 28 August 2020
Mr. A.K.Gupta	Director (Commercial)	Upto 31 July 2020
Mr. Prakash Tiwari	Director (Operations)	Upto 30 April 2020
Mr. Saptarshi Roy	Director (Human Resources)	Upto 31 March 2020
Mr. S.K.Roy	Director (Projects)	Upto 30 November 2019
Mr. P.K.Mohapatra	Director (Technical)	Upto 31 July 2019
Mr. K.Sreekant2	Director (Finance)	Upto 12 August 2019

Independent Directors

Mr. Seethapathy Chander Mr. Subhash Joshi Mr. Pradeep Kumar Deb Mr. M.P.Singh Mr. Shashi Shekhar Dr. K.P.K.Pillay Dr. Gauri Trivedi Dr. Bhim Singh Mr. Vinod Kumar

Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Upto 15 November 2019

Upto 7 September 2020 Upto 7 September 2020 Upto 12 June 2019 Upto 7 September 2020 Upto 7 September 2020 Upto 7 September 2020

Government Nominee Directors

Mr. Vivek Kumar Dewangan	Non-executive Director
Mr. Ashish Upadhyaya	Non-executive Director	W.e.f. 22 January 2020
Ms. Archana Agarwal	Non-executive Director	Upto 22 April 2019
Chief Financial Officer and Company Secretary
Mr. Sudhir Arya	Chief Financial Officer	Upto 30 July 2019
Ms. Nandini Sarkar	Company Secretary	W.e.f. 1 August 2018

1. Chief Financial Officer w.e.f. 1 August 2019

2.Holding additional charge, in addition to Director (Finance), Power Grid Corporation of India Ltd.

iv) Post employment benefit plans:

1. NTPC Limited Employees Provident Fund

2. NTPC Employees Gratuity Fund

3. NTPC Post Retirement Employees Medical Benefit Fund

4. NTPC Limited Defined Contribution Pension Trust v) Entities under the control of the same government:

The Company is a Central Public Sector Undertaking (CPSU) controlled by Central Government by holding majority of shares. Pursuant to Paragraph 25 and 26 of Ind AS 24, entities over which the same government has control or joint control of, or significant influence, then the reporting entity and other entities shall be regarded as related parties. Transactions with these parties are carried out at market terms at arm length basis. The Company has applied the exemption available for government related entities and have made limited disclosures in the financial statements. Such entities with which the Company has significant transactions include but not limited to Coal India Ltd., Singareni Coalfields Ltd., GAIL (India) Ltd., BHEL Ltd., SAIL Ltd., Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd and PGCIL.

vi) Others:

1. NTPC Education and Research Society

2. NTPC Foundation

b) Transactions with the related parties are as follows:

` Crore 31 March 2021 31 March 2020 31 March 2021 31 March 2020 5.45 3.20 1,613.80 1,286.34 93.97 45.41 37.11 41.55 1,896.41 2,075.00 22.75 38.77 - 0.50 2.52 3.26 57.93 52.08 57.42 63.24 772.53 - 501.66 205.60 1,024.72 846.90 620.45 970.57 1,038.45 143.00 - 12.40 49.64 24.18 1.86 0.79 - - 4.80 18.01 247.60 - - i) Sales/purchase of goods and services - Contracts for works/services for services provided by the Company vi) Loans granted iv) Dividend received v) Equity contributions made ii) Sales/purchase of assets ix) Financial guarantees issued viii) Guarantees received - Sale/purchase of goods - Contracts for works/services for services received by the Company iii) Deputation of employees vii) Interest on loan For the year ended For the year ended Joint venture Companies Subsidiary Companies Particulars

		` Crore
Particulars	For the year ended	For the year ended
	31 March 2021	31 March 2020
Transactions with post employment benefit plans
- Contributions made during the year	820.89	824.28
Compensation to Key management personnel
- Short term employee benefits	5.75	5.07
- Post employment benefits	0.11	0.13
- Other long term benefits	0.28	0.27
- Termination benefits	0.81	1.51
- Sitting fee	0.57	0.73
Total compensation to key management personnel	7.52	7.71

				` Crore
	Transactions with the related parties under the control of the same government:
Sl. No.	Name of the Company	Nature of transaction by the Company	For the year	For the year ended
			ended	31 March 2020
			31 March 2021
1	Bharat Coking Coal Ltd.	Purchase of coal	423.46	1,345.65
2	Central Coalfields Ltd.		2,849.76	2,982.07
3	Eastern Coalfields Ltd.		6,548.35	7,441.19
4	Mahanadi Coalfields Ltd.		3,967.78	3,555.98
5	Northern Coalfields Ltd.		10,758.98	9,118.06
6	South Eastern Coalfields Ltd.		5,371.79	4,775.45
7	Western Coalfields Ltd.		985.01	827.70
8	Coal India Ltd.		33.33	33.96
9	Singareni Collieries Company Ltd.		4,801.46	5,765.84
10	Bharat Heavy Electricals Ltd.	Purchase of equipment and erection services	1,040.03	1,004.40
		Purchase of spares		482.12
			625.78
		Receipt of maintenance services	829.67	1,102.75
11	GAIL (India) Ltd.	Purchase of natural gas	1,349.23	2,226.82
12	Indian Oil Corporation Ltd.	Purchase of fuel / oil products	689.77	1,058.86
13	Bharat Petroleum Corporation Ltd.	Purchase of fuel / oil products	203.65	260.67
14	Hindustan Petroleum Corporation Ltd.	Purchase of fuel / oil products	192.82	332.69
15	Steel Authority of India Ltd.	Purchase of steel and iron products	262.54	237.15
16	REC Ltd.	Consultancyservicesprovidedbythe	-	40.29
		Company
17	RITES Ltd	Receipt of maintenance services	434.03	631.91
18	PGCIL	Purchase of equipments and providing	228.63	23.88
		services
19	Other entities	Purchase of equipment and erection services	17.31	32.86
		Purchase of spares	32.14	35.02
		Receipt of maintenance services	127.69	250.01
		Consultancy and other services provided by	91.66	52.87
		the Company
				` Crore
	Transactions with others listed at (a)(vi) above	For the year ended		For the year ended

Transactions with others listed at (a)(vi) above	For the year ended	For the year ended
	31 March 2021	31 March 2020
- Contracts for works/services for services received bythe Company	5.52	60.88

c) Outstanding balances with related parties are as follows:

		` Crore
Particulars	As at	As at
	31 March 2021	31 March 2020
Amount recoverable towards loans from
- Subsidiary companies	1,150.39	193.00
- Joint venture companies	19.78	19.09
- Key management personnel	0.15	0.03
- Others	0.60	0.60
Amount recoverable other than loans from
- Subsidiary companies	518.78	579.59
- Joint venture companies	55.30	109.33
- Post employment benefit plans	205.23	37.42
- Others	0.57	0.42
Amount payable to
- Joint venture companies	289.64	382.28
- Post employment benefit plans	0.01	230.54

d) Individually significant transactions

			` Crore
Particulars	Nature of relationship	For the year	For the year ended
		ended	31 March 2020
		31 March 2021
Contracts for works/services for services received
by the Company
Utility Powertech Ltd.	Joint Venture Company	1,359.62	1,099.16
NTPC BHEL Power Projects Private Ltd.	Joint Venture Company	87.29	99.28
NTPC-GE Power Services Private Ltd.	Joint Venture Company	140.21	79.35
Contracts for works/services for services provided
by the Company
Patratu Vidyut Utpadan Nigam Ltd.	Subsidiary Company	37.60	20.82
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	6.51	10.86
Nabinagar Power Generating Company Ltd.	Subsidiary Company	8.77	8.69
THDC India Ltd.	Subsidiary Company	28.47	-
Bhartiya Rail Bijlee Company Ltd.	Subsidiary Company	6.55	4.28
NTPC Renewable Energy Ltd.	Subsidiary Company	5.55	-
NTPC SAIL Power Company Ltd	Joint Venture Company	7.54	14.18
Meja Urja Nigam Private Limited	Joint Venture Company	10.34	12.05
Aravali Power Company Private Ltd.	Joint Venture Company	4.38	5.82
NTPC Tamilnadu Energy Company Ltd.	Joint Venture Company	8.77	5.54
Energy Efficiency Services Ltd.	Joint Venture Company	5.43	3.52
Sale of goods
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	1,796.32	1,873.19
Nabinagar Power Generating Company Ltd.	Subsidiary Company	100.09	200.91
Purchase of goods
Energy Efficiency Services Ltd.	Joint Venture Company	18.47	38.01
Transformers and Electricals Kerala Ltd.	Joint Venture Company	3.28	-
Dividend received
NTPC-SAIL Power Company Ltd.Aravali Power Company Private Ltd.	Joint Venture Company	95.00	50.00
NTPC-Tamil Nadu Energy Company Ltd.	Joint Venture CompanyJoint Venture Company	350.00	146.83-
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	51.4130.00	-
North Eastern Electric Power Corporation Ltd.	Subsidiary Company	25.00	-
Bhartiya Rail Bijlee Company Ltd.	Subsidiary Company	190.28	-
THDC India Ltd.	Subsidiary Company	527.25	-
Energy Efficiency Services Ltd.	Joint Venture Company	-	4.47
Utility Powertech Ltd.	Joint Venture Company	5.00	4.00
NTPC-GE Power Services Private Ltd.	Joint Venture Company	0.25	0.30
Equity contributions made
Bhartiya Rail Bijlee Company Ltd.	Subsidiary Company	-	53.00
Kanti Bijlee Utpadan Nigam Ltd.	Subsidiary Company	60.00	100.00
Patratu Vidyut Utpadan Nigam Ltd.	Subsidiary Company	389.50	264.00
Nabinagar Power Generating Company Ltd.	Subsidiary Company	270.02	429.85
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	10.00	-
NTPC Renewable Energy Ltd.	Subsidiary Company	295.05	-
NTPC EDMC Waster Solutions Pvt. Ltd.	Subsidiary Company	0.15	-
Meja Urja Nigam Private Ltd.	Joint Venture Company	142.60	262.31
Energy Efficiency Services Ltd.	Joint Venture Company	-	218.11
NTPC Mining Ltd	Subsidiary Company	-	0.05
Bangladesh-India Friendship Power Company	Joint Venture Company	88.88	166.89
NTPC-Tamil Nadu Energy Company Ltd.	Joint Venture Company	8.29	12.50
Hindustan Urvarak & Rasayan Ltd.	Joint Venture Company	380.67	310.76
Loans granted
Ratnagiri Gas & Power Private Ltd.	Subsidiary Company	885.00	-
Kanti Bijlee Utpadan Nigam Ltd.	Subsidiary Company	150.00	83.00
NTPC Renewable Energy Ltd.	Subsidiary Company	3.45	-
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	-	60.00
National High Power Test Laboratory Private Ltd.	Joint Venture Company	-	12.40
Guarantees received
Utility Powertech Ltd.	Joint Venture Company	4.80	17.80
NTPC-GE Power Services Private Ltd.	Joint Venture Company	-	0.21
Financial Guarantees issued
NTPC Electric Supply Company Ltd.	Subsidiary Company	10.00	-
Patratu Vidyut Utpadan Nigam Ltd.	Subsidiary Company	237.60	-

e) Terms and conditions of transactions with the related parties

• i) Transactions with the related parties are made on normal commercial terms and conditions and at arm length price.
• ii) The Company is assigning jobs on contract basis, for sundry works in plants/stations/offices to M/s Utility Powertech Ltd. (UPL), a 50:50 joint venture between the Company and Reliance Infrastructure Ltd. UPL inter-alia undertakes jobs such as overhauling, repair, refurbishment of various mechanical and electrical equipment of power stations. The Company has entered into Power Station Maintenance Agreement with UPL from time to time. The rates are fixed on cost plus basis after mutual discussion and after taking into account the prevailing market conditions.
• iii) The Company is seconding its personnel to subsidiary and joint venture companies as per the terms and conditions agreed between the companies, which are similar to those applicable for secondment of employees to other companies and institutions. The cost incurred by the Company towards superannuation and employee benefits are recovered from these companies.

Sl.	Name of the subsidiary	Loangranted	Rateofinterest	Repayment schedule	Purpose	Year of grant of
No.	(S)/jointventure(JV)	(Amountin`	(p.a.)			loan
	company	crore)
	1 Kanti Bijlee UtpadanNigam Ltd. (S)	193.00 10%	(quarterlyrest)upto31.12.2020.W.e.f 01.01.2021,SBI 1-year MCLR+100bps(quarterly rest) tobereseton1stAprileveryyearbased on SBI 1-yearMCLRprevailing on thedate of reset	Repayable in six equalsemi-annualinstallmentsfrom30September 2020.	To sustain ongoingoperation activitiesandmeetdebtservicingrequirements.	2017-18
		150.00 10%	(quarterlyrest)upto31.12.2020.w.e.f01.01.2021SBI 1-year MCLR+100bps(quarterly rest) tobereseton1stAprileveryyearbased on SBI 1-yearMCLRprevailing on thedate of reset	Repayable in six equalquarterlyinstallmentsfrom31December2021.	For loan repayment, interest paymentandtodischargestatutoryobligations.	2019-20
2	NationalHighPowerTestLaboratory PrivateLtd. (JV)	18.40 10%	(quarterlyrest)	Principalrepayableintwentysemi-annualinstallmentsfrom30September2022Interestpayablehalfyearly.	Forrepaymentofloans / contractualobligations	2019-20

iv) Loans granted to subsidiaries and joint venture companies are detailed below:

3	Ratnagiri Gas and PowerPvt Ltd. (S)	885.00 10%	p.a.(quarterlyrest)whichwillbereviewedandmutuallydecidedat the beginning ofeach financial yeari.e., 1st April ofeachyearandshall be applicablefortheentirefinancial year.	Loan shall be repaid in53 quarterly instalmentsaspertheloanagreement starting from31.03.2021andLastInstalment shall be paidon 31.03.2034.	For debt settlementwith Lenders	2020-21
			570.18 Interestshallbepayablew.e.f.01.04.2034orafterfullrepayment of InterCorporate Loan of`.885crorewhicheverisearlieraspermutuallyagreedterms&Conditions.	PrincipalRepaymentshall start from FY 2034-35orafterfullrepaymentofInterCorporate Loan of Rs.885 crore whichever isearlier as per mutuallydecided Schedule.	Novationofresidualdebtbyexisting lenders infavor of NTPC .	2020-21*
4	NTPCRenewablesEnergy Ltd (S)		15.00 SBI 1-year MCLR+ 100 bps on thedateoffirstdisbursement to bereset on 1st April2021basedonSBI 1-year MCLRprevailing on thedate of reset.	Out of the loan granted,an amount of ` 3.45crore was drawn whichhas been fully repaid /adjustedduringtheyear.	To meet immediaterequirementforFilingapplicationto AP upto 4 GW,filinganapplicationtoRegistrarsofCompanies(RoC)forenhancingAuthorized capital,meetingotherimmediateadministrativeexpenditure, etc	2020-21
5	NTPCElectricSupplyCompany Ltd (S)		1.50 SBI 1-year MCLR+ 100 bps on thedateoffirstdisbursement to bereset on 1st April2021basedonSBI 1-year MCLRprevailing on thedate of reset	The Loan to be repaid inoneinstalmentonorbefore 6 months fromthedateoffirstdisbursement.Noamountdrawnduringthe year.	TomeettheRevenueExpenditure needs.	2020-21

*Note: The loan of ` 570.18 crore to RGPPL has not been recognized in the books due to uncertainty involved therein.

v) Consultancy services provided by the Company to subsidiary and joint venture companies are generally on nomination basis at the terms, conditions and principles applicable for consultancy services provided to other parties.

vi) Outstanding balances of subsidiary and joint venture companies at the year-end are unsecured, except in respect of loan to RGPPL which is secured and settlement occurs through banking transaction. These balances other than loans are interest free. The Company has not recorded any impairment of receivables relating to amounts owed by related parties. This assessment is undertaken in each financial year through examining the financial position of the related party and the market in which the related party operates.

f) Details of impairment loss on investment in subsidiaries and joint venture companies

i) The Company has investments in M/s Ratnagiri Gas & Power Pvt. Ltd. (RGPPL), an erstwhile joint venture of the Company. RGPPL had incurred losses during last few years which has resulted in substantial erosion of net worth of RGPPL. Also, value of RGPPL's assets had declined significantly more than would be expected as a result of the passage of time or normal use. Further, Power Block (CGU) of RGPPL is not operating at its installed capacity from last many years. The recoverable amount of this investment was assessed at 18.06 crore and accordingly the Company had provision for impairment of 816.49 crore in respect of such investment as at 31 March 2020. During the year, the assessment of impairment of its investment in RGPPL has been carried out by an independent expert, impact of which is explained below:

Recoverable amount is based on the value in use as its fair value less cost of disposals cannot be estimated.

Recoverable amount of investment in RGPPL has been assessed at Nil and is based on the present value of future cash flows expected to be derived from gas based power plant of RGPPL till 31 March 2039. The period is based on the estimated useful life of the power plant. Decrease in recoverable amount of investment in RGPPL is due to decrease in the value in use as compared to the previous year. This has led to addition in provision for impairment by 18.06 crore in the current year (31 March 2020: impairment provision of ` 41.47 crore).

Following are the key assumptions used to determine the recoverable amount of investment:

• Capacity : 1,967 MW (31 March 2020: 1,967 MW)

• Auxiliary consumption : 2.00% (31 March 2020: 2.00 %)

• Plant Load Factor (PLF) : 25.40% (31 March 2020: 25.40%)

• Tariff : INR 5.5/kwh (31 March 2020: INR 5.5/kwh) (gross of transmission charges and losses)

No growth rates have been assumed and the past experience have been considered for future cash flows which are expected to be derived.

The post-tax discount rate used for the future cash flows is 12.50% (31 March 2020: 11.50%).

RGPPL has become a subsidiary during the year.

• ii) In respect of investment in NTPC BHEL Power Project Pvt. Ltd., provision for impairment on investments has been recognised at **50.00 crore** (31 March 2020: 50.00 crore).
• iii) In respect of investment in Trincomalee Power Company Limited , provision for impairment on investments has been recognised at ` 14.14 crore (31 March 2020: Nil ).
• iv) In respect of investment in Konkan LNG Limited (KLL), the impairment provision accounted upto 31 March 2020 amounting to ` 103.47 crore has been written back consequent to disposal of investment in KLL during the year.

g) Restrictions on disposal of investment and commitmment towards further investments in the subsidiary and joint venture companies

i) In respect of investments in subsidiary companies (including share application money pending allotment), the Company has restrictions for their disposal as at 31 March 2021 as under:

			` Crore
Name of the Subsidiary	Period of restrictions for disposal of investments as per		Amount invested as at
	related agreements	31 March 2021	31 March 2020
Bhartiya Rail Bijlee CompanyLtd.	5 years from the date of commercial operation of the last unit ofthe project.	1,774.12	1,774.12
Kanti Bijlee Utpadan NigamLtd.	As per loan agreement, minimum equity of 51% shall bemaintained at all times until final settlement of loan i.e., 4 yearsmoratorium period and subsequently 11 years for repayment.	1,670.67	1,610.67
Patratu Vidyut Utpadan NigamLtd.	5 years from the date of signing of agreement or till the date ofcommercial operation of the last new unit of Phase-I, whicheveris later.	887.62	498.12
NabinagarPowerGeneratingCompany Ltd.	NTPC shall not transfer/assign or pledge shares until finalsettlement of loan i.e. 5 years moratorium and subsequently 15years for repayment.	4,687.03	4,417.01
THDC India Ltd.	Save and except with prior written consent of GOI, NTPC shallnot take any action that may result in shareholding in thesubsidiary falling below 51% and shall not take any action thatmay result in the subsidiary ceasing to be a governmentcompany.	7,500.00	7,500.00
North Eastern Electric PowerCorporation Ltd.	Save and except with prior written consent of GOI, NTPC shallnot take any action that may result in shareholding / or totalvoting power in the subsidiary falling below 51% and shall nottake any action that may result in the subsidiary ceasing to be agovernment company. Further, NTPC shall continue to hold100% of paid up capital and voting power in the subsidiary tillall amounts repayable under the loan agreement executedbetween the subsidiary and KfW are repaid.	4,000.00	4,000.00
NTPC EDMC Waste SolutionsPvt Ltd	5 years from the date of incorporation (i.e. 01 June 2020)	0.15	-
Total		20,519.59	19,799.92

ii) In respect of investments in joint venture companies (including share application money pending allotment), the Company has restrictions for their disposal as at 31 March 2021 as under:

			` Crore
Name of the Joint Venture	Period of restrictions for disposal of investments as per	Amount invested as at
Company	related agreements	31 March 2021	31 March 2020
TransformersandElectricals	3yearsfromthedateofacquisition(i.e.19.06.2009)or	31.34	31.34
Kerala Ltd.	upgradation capacity enhancement scheme whichever is later.
NTPC BHEL Power ProjectsPrivate Ltd.	3 years from the date of completion of first EPC contract ofsingle order value of not less than `500 crore or till further suchtime as mutually agreed.	50.00	50.00
NationalHighPowerTest	5 years from the date of incorporation (i.e. 22.05.2009) or	30.40	30.40
Laboratory Private Ltd.	completion of project whichever is later.
CIL NTPC Urja Private Ltd.	5 years from the date of incorporation (i.e. 27.04.2010) orcommercial operation whichever is later.	0.08	0.08
Trincomalee Power CompanyLtd.	12 years from the initial operation date.	15.20	15.20
Bangladesh-IndiaFriendship	15 years from the date of commercial operation date.	533.60	444.72
Power Company Private Ltd.
Meja Urja Nigam Private Ltd.	5 years from the date of incorporation (i.e. 02.04.2008) orcommercial operation (i.e. 31.01.2021) whichever is later.	-	1,581.64

HindustanRasayan Ltd.	Urvarakand	(a) 5 years from the date of incorporation (15.06.2016) or 2years from commercial operation date of any one of theproposed projects at Sindri, Gorakhpur and Barauni or date ofallotment of shares for first time, whichever is later.(b) As per Sponsors Support undertaking , NTPC shall jointlyand severally with the other sponsors provide additional fundsto meet all cost overrun incurred/to be incurred in relation to theProject. Further, NTPC shall jointly with the other sponsors,retain51%oftotalequitysharecapitaloftheJVandmanagement control until the final settlement date of the loan	1,131.76	751.09
		facility (door to door tenure of 15 years).
Total			1,792.38	2,904.47

iii) The Company has commitments of **7,499.90 crore** (31 March 2020: 4,487.78 crore) towards further investment in the subsidiary companies as at 31 March 2021.

iv) The Company has commitments of **2,253.53 crore** (31 March 2020: 2,900.40 crore) towards further investment in the joint venture entities as at 31 March 2021.

v) The Company has commitments of bank guarantee of 0.50% of total contract price to be undertaken by NTPC-BHEL Power Projects Private Ltd. (a joint venture company) to a cumulative amount of **75.00 crore** (31 March 2020: 75.00 crore).

vi) The Company has agreed to provide unconditional and irrevocable financial support to NTPC GE Power Services Ltd. (a joint venture company) for meeting financial qualifying requirement for execution of Flue Gas De-sulfurisation (FGD) projects in India. Such support shall be provided by way of Letter of Undertaking to a cumulative exposure up to the award value of the contract(s) not exceeding 600.00 Crore and cumulative exposure of the Company, in proportion to shareholding, would not exceed 300.00 crore (31 March 2020: ` 300.00 crore).

vii) The Company has provided corporate guarantee for an amount of **237.60 crore** (31 March 2020: Nil) for Patratu Vidyut Utpadan Nigam Ltd. (PVUNL) (a subsidiary company) in favor of Axis Bank for sanction of bank guarantee issued to Ministry of Coal for performance security against the milestones of Banhardih coal mine development of PVUNL.

viii) The Company has provided comfort letter for NTPC Electric Supply Company Limited (NESCL) (a subsidiary company) to ICICI Bank in relation for sanction of Bank Guarantee facilities for an amount of **10.00 crore** (31 March 2020: Nil) to enable NESCL to participate in the bid process for privatization of DISCOM of Union Territory (UT) of Chandigarh.

ix) The Company has agreed to provide borrowing support to NTPC Renewable Energy Limited (a subsidiary company) upto **6,000 crore** (31 March 2020: Nil) in the form of long term / short term loan, bank guarantee, corporate guarantee / comfort letter to banks, etc., in case it is required by NTPC Renewable Energy Limited.

NTPC LIMITED

Notes forming part of Consolidated Financial Statements

NTPC Limited

Related Party Disclosures - 31 March 2021 - Consolidated

Disclosure as per Ind AS 24 'Related Party Disclosures'

a) List of Related parties:

• i) Joint venture companies:
• 1. Utility Powertech Ltd.
• 1. NTPC-GE Power Services Private Ltd.
• 1. NTPC-SAIL Power Company Ltd.
• 1. NTPC Tamil Nadu Energy Company Ltd.
• 1. Aravali Power Company Private Ltd.
• 1. NTPC BHEL Power Projects Private Ltd.
• 1. Meja Urja Nigam Private Ltd.
• 1. Transformers and Electricals Kerala Ltd.
• 1. National High Power Test Laboratory Private Ltd.
• 1. Energy Efficiency Services Ltd.
• 1. CIL NTPC Urja Private Ltd.
• 1. Anushakti Vidhyut Nigam Ltd.
• 1. Hindustan Urvarak & Rasayan Ltd.
• 1. Ratnagiri Gas and Power Pvt. Ltd. (joint venture upto 30 December 2020 and subsidiary thereafter)
• 1. Konkan LNG Ltd. (upto 23 February 2021)
• 1. Trincomalee Power Company Ltd.
• 1. Bangladesh-India Friendship Power Company Private Ltd.
• Joint venture company of NEEPCO (a Subsidiary of the Company)
• 1. KSK Dibbin Hydro Power Private Ltd

ii) Key Management Personnel (KMP):

Parent Company:

Whole Time Directors
Mr. Gurdeep Singh	Chairman and Managing Director
Mr. A.K.Gautam1	Director (Finance)	W.e.f. 18 October 2019
Mr. Dillip Kumar Patel	Director (HR)	W.e.f. 1 April 2020
Mr Ramesh Babu V.	Director (Operations)	W.e.f. 1 May
Mr. Chandan Kumar Mondol	Director (Commercial)	2020W.e.f. 1 August 2020
Mr. Ujjal Kanti Bhattachrya	Director (Projects)	W.e.f 28 August 2020
Mr. A.K.Gupta	Director (Commercial)	Upto 31 July 2020
Mr. Prakash Tiwari	Director (Operations)	Upto 30 April 2020
Mr. Saptarshi Roy	Director (Human Resources)	Upto 31 March 2020
Mr. S.K.Roy	Director (Projects)	Upto 30 November 2019
Mr. P.K.Mohapatra	Director (Technical)	Upto 31 July 2019
Mr. K.Sreekant2	Director (Finance)	Upto 12 August 2019

Independent Directors

Dr. Gauri Trivedi	Non-executive Director	Upto 15 November 2019
Mr. Seethapathy Chander	Non-executive Director	Upto 12 June 2019
Mr. M.P.Singh	Non-executive Director	Upto 7 September 2020
Mr. Pradeep Kumar Deb	Non-executive Director	Upto 7 September 2020
Mr. Shashi Shekhar	Non-executive Director	Upto 7 September 2020
Mr. Subhash Joshi	Non-executive Director	Upto 7 September 2020
Mr. Vinod Kumar	Non-executive Director	Upto 7 September 2020
Dr. K.P.K.Pillay	Non-executive Director
Dr. Bhim Singh	Non-executive Director
Government Nominee Directors
Mr. Vivek Kumar Dewangan	Non-executive Director
Mr. Ashish Upadhyaya	Non-executive Director	W.e.f. 22 January 2020
Ms. Archana Agarwal	Non-executive Director	Upto 22 April 2019
Chief Financial Officer and Company Secretary
Mr. Sudhir Arya	Chief Financial Officer	Upto 30 July 2019
Ms. Nandini Sarkar	Company Secretary	W.e.f. 1 August 2018

1. Chief Financial Officer w.e.f. 1 August 2019

2. Holding additional charge, in addition to Director (Finance), Power Grid Corporation of India Ltd.

Subsidiary Companies:

Shri A.K. Gautam Chairman & Director Director w.e.f. 03/12/2018, Chairman w.e.f 31/07/2020 Shri P.K. Mohapatra Chairman & Director Chairman w.e.f 29/06/2018 upto 31/07/2019 Shri A.K. Gupta Chairman & Director Chairman w.e.f 07/08/2019 upto 31/07/2020 Shri Chandan Kumar Mondol Director Director w.e.f. 18/08/2020 Shri Anil Nautiyal Director Director w.e.f. 16/01/2021 Ms Nandini Sarkar Director Shri Rajnish Bhagat Director Director w.e.f. 11/10/2019 till 30/11/2020 Shri C.V. Anand Director Director w.e.f 15/03/2018 up to 09/10/2019 Shri Mohit Bhargava Chief Executive Officer CEO w.e.f 16/01/2020 Shri Rajnish Bhagat Chief Executive Officer CEO w.e.f 11/09/2018 up to 03/06/2019 Shri A.K. Poddar Chief Executive Officer CEO w.e.f 18/07/2019 up to 31/12/2019 Shri Kumar sanjay Chief Finance Officer Shri Nitin Mehra Company Secretary Company Secretary 1. NTPC Vidyut Vyapar Nigam Ltd.

2. NTPC Electric Supply Company Ltd.

Shri Dillip Kumar Patel	Chairman	W.e.f. 6 April 2020
Shri Saptarshi Roy	Chairman	Upto 31 March 2020
Shri Parveen Saxena	Director
Shri Rajendra Mohan Arya	Director	W.e.f.28 August 2019
Shri Sudhir Arya	Director	Upto 29 July 2019
Ms. Renu Narang	CEO	W.e.f. 9 October 2020
Shri Ajay Dua	CEO	Upto 8 October 2020
Shri Amit Prakash	Company Secretary	W.e.f. 28 January 2021

3. Kanti Bijlee Utpadan Nigam Ltd.

Shri Ramesh Babu V.	Chairman (Non-Executive)	wef 11 May 2020
Shri Prakash Tiwari	Chairman (Non-Executive)	upto 30 April 2020
Shri Ajay Dua	Non-Executive Director
Shri Praveen saxena	Non-Executive Director	wef 7 February 2021
Shri Asit Kumar Mukherjee	Non-Executive Director	w.e.f. 18 May 2020 upto 31 January 2021
Miss Shoba Pattabhiraman	Non-Executive Director	wef 1 November 2019
Shri S. Narendra	Non-Executive Director	upto 30 April 2020
Mrs. Sangeeta Bhatia	Non-Executive Director	upto 9 October 2019
Shri A.K. Munda	Chief Executive Officer	wef 4 December 2020
Shri Subrata Mandal	Chief Executive Officer	wef 18 February 2020 upto 4 December 2020
Shri U. Banerjee	Chief Executive Officer	upto 17 February 2020
Shri Ranjeet Bhattacharya	Chief Finance Officer	wef 1 July 2020
Shri V.K.Mittal	Chief Finance Officer	upto 30 June 2020
Ms. Priyanka Sethi	Company Secretary	wef 22 September 2020
Mrs.Ruchi Aggarwal	Company Secretary	upto 16 March 2020

4.Bhartiya Rail Bijlee Company Limited

Shri Ramesh Babu V	Non-executive Director	w.e.f. 18-Aug-2020
Shri A.K. Gupta	Non-executive Director	upto 17th Aug-2020
Shri R.K. Jain	Non-executive Director
Shri Praveen Saxena	Non-executive Director	w.e.f. 05-March-2021
Shri Asit Kumar Mukherjee	Non-executive Director	upto 28-Feb-2021
Shri S. Narendra	Non-executive Director	upto 30-Apr-2020
Ms. Renu Narang	Non-executive Director	w.e.f. 01-Sep-2019
Shri P M Jeena	Chief Executive Officer	w.e.f.01-Jun-2020
Shri C Sivakumar	Chief Executive Officer	upto 31-May-2020
Shri Amarendra Kumar	Chief Finance Officer	w.e.f. 13-Jan-2021
Shri Manoj Srivastava	Chief Finance Officer	upto 07-Jan-2021
Shri Vishal Garg	Company Secretary

5.Patratu Vidyut Utpadan Nigam Ltd.

Shri D K Patel	Chairman	W.e.f. 20 August 2020
Shri A K Gupta	Chairman	W.e.f. 10 April 2020 to 31 July 2020
Shri Saptarshi Roy	Chairman
		March 2020
Shri S. K. Roy	Director & Chairman
		November 2017) upto 30 November 2019
Shri Avinash Kumar, IAS	Director	W.e.f. 18 September 2020
Shri Avnish Srivastava	Director	W.e.f. 15 October 2019
Ms. Nandini Sarkar	Director	W.e.f. 15 October 2019

Shri Asit Kumar Mukherjee Non-Executive Director w.e.f. 18 May 2020 upto 31 January 2021 Shri Subrata Mandal Chief Executive Officer wef 18 February 2020 upto 4 December 2020

Upto 25 June 2018 and w.e.f 23 January 2020 upto 31 March 2020 As chairman w.e.f. 18 July 2018 (as Director w.e.f. 29 November 2017) upto 30 November 2019

Shri T. R. Datta	Director	W.e.f. 18 July 2018 Upto 31 July 2019
Mrs. Sangeeta Bhatia	Director	W.e.f. 23 August 2018 Upto 31 August 2019
Shri L. Khiangte, IAS	Director	W.e.f. 20 November 2019 upto 15 September 2020
Ms. Vandana Dadel, IAS	Director	W.e.f. 21 November 2018 Upto 7 November 2019
Shri Sital Kumar	CEO	W.e.f. 9 March 2021
Shri Sudarsan Chakrabarti	CEO	Upto 9 March 2021
Shri A. K. Acharya	CFO
Shri Sipan K. Garg	Company Secretary
6. Nabinagar Power Generating Company Ltd.
Shri Ramesh Babu V.	Chairman	w.e.f. 18.08.2020
Shri Praveen Saxena	Non-Executive Director	w.e.f 05.02.2021
Shri A. K. Gupta	Non-Executive Director	upto 31.07.2020
Shri C.V.Anand	Non-Executive Director	w.e.f. 30.07.2019
Ms.Alka Saigal	Non-Executive Director	w.e.f. 06.11.2019
Shri S. Narendra	Non-Executive Director	upto 30.04.2020
Shri Asit K Mukerjee	Non-Executive Director	w.e.f. 13.05.2020 upto 31.01.2021
Shri Vijai Singh	Chief Executive Officer	w.e.f. 14.05.2019
Shri S.K.Rath	Chief Financial Officer	w.e.f.16.05.2019
Shri Manish Kumar	Company Secretary
7. NTPC Mining Ltd.
Mr. Chandan Kumar Mondol	Chairman	W.e.f. 17 August 2020
Shri A. K. Gupta	Chairman	Upto 31 July 2020
Shri Parth Mazumdar	Non-Executive Director
Shri Aditya Dar	Non-Executive Director
8. THDC India Ltd.
Shri D V Singh	Chairman & Managing Director
Shri Vijay Goel	Director (Personnel)
Shri J. Behera	Director (Finance)	W.e.f. 16 August 2019
Shri R K Bishnoi	Director (Technical)	W.e.f. 1 September 2019
Shri H L Arora	Director (Technical)	Upto 31 August 2019
Sh.U.K.Bhattacharya	Non-executive Director	W.e.f. 26 August 2020
Sh.A.K.Gautam	Non-executive Director	W.e.f. 23 April 2020
Sh.T.Venkatesh	Non-executive Director
Sh.Rajpal	Non-executive Director	Upto 30 April 2021
Sh.A.K.Gupta	Non-executive Director	W.e.f. 23 April 2020 to 31 July 2020
Ms. Rashmi Sharma	Company Secretary
9. North Eastern Electric Power Corporation Ltd.
Shri V K Singh	Chairman & Managing Director	W.e.f. 1 September 2019
Shri Anil Kumar*	Director (Personnel)
Shri Hemanta Kumar Deka	Director (Technical)	W.e.f 6 July 2020
	*Holding additional charge of Director (Finance) w.e.f 2 April 2020.
10. NTPC Renewable Energy Limited
Shri C K Mondol	Chairman	W.e.f. 7 October 2020
Shri Vinay Kumar	Director	W.e.f. 7 October 2020
Shri Aditya Dar	Director	W.e.f. 7 October 2020
Ms Nandini Sarkar	Director	W.e.f. 9 October 2020
Shri Mohit Bhargava	CEO	W.e.f. 9 October 2020
11. NTPC EDMC Waste Solutions Private Ltd.
Shri Sital Kumar Nischal	Chairman	W.e.f. 1 June 2020
Shri Amit Kumar Kulshreshtha	Director	W.e.f. 1 June 2020
Shri Achal Kumar Arora	Director	W.e.f. 1 June 2020
Shri Sundeep Kumar Sharma	Director	W.e.f. 12 March 2021
Shri Sanjiv Kumar	CEO	W.e.f. 26 February 2021
Shri Manoj Srivastava	CFO	W.e.f. 26 February 2021
12. Ratnagiri Gas & Power Private Ltd.
Shri Chandan Kumar Mondol	Chairman	from 01.04.2020 to 14.12.2020
Shri Sital Kumar	Chairman	w.e.f. 14.12.2020
Shri Parrag Jaiin Nainutia	Non-executive Director	from 01.04.2020 to 13.05.2020
Shri Sanjeev Kumar	Non-executive Director	from 01.04.2020 to 01.06.2020

Shri Sanjay Khandare
Shri Pankaj Patel
Shri A K Tiwari
Shri Prasoon Kumar
Shri Rakesh Kumar Jain
Shri Aditya Dar	Non-executive Director
Shri Manoj Sharma
Shri Bhaskar Niyogi
Shri Anilraj Chellan
Shri D Paul
Shri Sital Kumar
Shri Asim Kumar Samanta
Shri Aditya Agarwal	Company Secretary
Shri Ajay Sharma	Chief Financial Officer

Non-executive Director w.e.f 29.09.2020 Non-executive Director from 01.04.2020 to 26.03.2021 Non-executive Director from 01.04.2020 to 07.07.2020 Non-executive Director from 01.04.2020 to 26.03.2021 Non-executive Director from. 10.07.2020 to 26.03.2021

Non-executive Director from 01.04.2020 to 03.02.2021 Non-executive Director from 01.04.2020 to 09.01.2021 Non-executive Director from 01.04.2020 to 21.01.2021 Managing Director from 01.04.2020 to 15.06.2020 Managing Director from 15.06.2020 to 03.12.2020 Managing Director w.e.f. 16.12.2020

iii) Post Employment Benefit Plans:

11.NEEPCO Employees Group Gratuity Assurance Fund Trust 12. RGPPL Employees Gratuity Fund Trust 6.THDCIL Employees Defined Contribution Superannuation Pension Trust 7.THDCIL Post Retirement Medical Facility Fund Trust 10.NEEPCO Employees Social Security Scheme Trust 3.NTPC Post Retirement Employees Medical Benefit Fund 4.NTPC Limited Defined Contribution Pension Trust 8.NEEPCO Employees Provident Fund Trust 5.THDC Employees Provident Fund Trust 9.NEEPCO Employees Defined Contribution Superannuation Scheme Trust 1.NTPC Limited Employees Provident Fund 2.NTPC Employees Gratuity Fund

iv) Entities under the control of the same government:

The Parent company is a Central Public Sector Undertaking (CPSU) controlled by Central Government by holding majority of shares. Pursuant to Paragraph 25 and 26 of Ind AS 24, entities over which the same government has control or joint control of, or significant influence, then the reporting entity and other entities shall be regarded as related parties. Transactions with these parties are carried out at market terms at arm length basis. The Group has applied the exemption available for government related entities and have made limited disclosures in the financial statements. Such entities with which the Company has significant transactions include but not limited to Coal India Ltd., Singareni Coalfields Ltd., GAIL (India) Ltd., BHEL Ltd., SAIL Ltd., Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd.

v) Others:

1. NTPC Education and Research Society

2. NTPC Foundation

b) Transactions with the related parties are as follows:

		` Crore
Particulars	Joint Venture Companies
	For the year ended
	31 March 2021	31 March 2020
i) Sales/purchase of goods and services during the year
- Contracts for works/services for services received by the Group	1,711.51	1,346.57
- Contracts for works/services for services provided by the Group	37.11	41.55
- Purchase of goods	23.82	38.77
ii) Sales/purchase of assets	2.52	3.26
iii) Deputation of employees	57.42	63.24
iv) Dividend received	501.66	205.60
v) Equity contributions made	620.45	970.57
vi) Loans granted	-	12.40
vii) Interest on loan	1.86	0.79
viii) Guarantees received	4.80	18.01

		` Crore
Particulars	For the year ended	For the year ended
	31 March 2021	31 March 2020
Transactions with post employment benefit plans
- Contributions made during the year	1,011.14	824.28
Compensation to Key management personnel
- Short term employee benefits	19.04	15.54
- Post employment benefits	1.37	1.27
- Other long term benefits	0.68	0.92
- Termination benefits	0.81	1.51
- Sitting fee	0.57	0.73
Total compensation to key management personnel	22.47	19.97

Transactions with the related parties under the control of the same government:

				` Crore
Sl. No.	Name of the Company	Nature of transaction by the	For the year ended	For the year
		company	31 March 2021	ended
				31 March 2020
1	Bharat Coking Coal Ltd.	Purchase of coal	423.46	1,345.65
2	Central Coalfields Ltd		4,428.45	4,255.00
3	Eastern Coalfields Ltd		6,585.07	7,481.60
4	Mahanadi Coalfields Ltd		3,967.78	3,555.98
5	Northern Coalfields Ltd.		10,758.98	9,118.06
6	South Eastern Coalfields Ltd		5,371.79	4,775.45
7	Western Coalfields Ltd.		985.01	827.70
8	Singareni Collieries Company Ltd.		4,801.46	5,765.84
9	Coal India Ltd.		33.33	33.96
10	Bharat Heavy Electricals Ltd.	Purchase of equipment & erectionservices	2,943.73	2,357.17
		Purchase of spares	625.78	482.12
		Receipt of maintenance services	829.67	1,102.75
11	GAIL (India) Ltd.	Purchase of natural gas	2,076.16	2,226.82
12	Indian Oil Corporation Ltd.	Purchase fuel / oil products	699.44	1,069.14
13	Bharat Petroleum Corporation Ltd.	Purchase fuel / oil products	250.82	353.31
14	Hindustan Petroleum Corporation Ltd.	Purchase fuel / oil products	242.65	414.18
15	Steel Authority of India Ltd.	Purchase of steel and iron products	273.66	251.18
16	Rural Electrification Corporation Ltd.	Consultancy services provided bythe Group	-	40.29
17	Rites Ltd	Receipt of maintenance services	478.74	680.61
18	National Aluminium Company Limited	Purchase of Bilateral Energy	22.72	19.58
19	Power Grid Corporation of India Ltd.	Purchase of equipment and	329.58	102.65
		providing services
20	Power System Operation Corporation Ltd.(POSOCO)	Open Access Booking	65.41	38.34
21	Power Grid Corporation of India Ltd.		57.42	37.40
22	Others		0.16	0.16
23	Damodar Valley Corporation	Purchase of Bilateral Energy	1,124.69	890.76
		Sale of Bundled Power	29.94	35.90
		Sale of Power	29.22	41.06
		Transmission & other Charges	4.10	3.96
24	Other entities	Purchase of equipment & erection	31.99	37.72
		services
		Purchase of spares	32.14	35.02
		Receipt of maintenance/ consultancy	298.23	396.90
		services
		Consultancy and Other Services	92.82	56.36
		provided by the Group
		Sale of Solar Energy	35.47	36.09

		` Crore
Transactions with others listed at (a)(v) above	For the year ended	For the year ended
	31 March 2021	31 March 2020
- Contracts for works/services for services received by the	5.52	60.88
Group

c) Outstanding balances with related parties are as follows:

		` Crore
Particulars	As at	As at
	31 March 2021	31 March 2020
Amount recoverable towards loans from
- Joint venture companies	19.78	19.09
- Key management personnel	0.15	0.03
- Others	0.60	0.60
Amount recoverable other than loans from
- Joint venture companies	55.30	109.33
- Post employment benefit plans	205.23	37.42
- Others	0.57	0.42
Amount payable to
- Joint venture companies	300.15	391.82
- Post employment benefit plans	0.01	230.54

d) ` Crore Individually significant transactions

Particulars	Nature of relationship	Amount
		For the year ended	For the year
		31 March 2021	ended
			31 March 2020
Contracts for works/services for services received by the
Group
Utility Powertech Ltd.	Joint venture company	1,457.33	1,159.39
NTPC BHEL Power Projects Private Ltd.	Joint venture company	87.29	99.28
NTPC-GE Power Services Private Ltd.	Joint venture company	140.21	79.35
Contracts for works/services for services provided by the
Group
NTPC-SAIL Power Company Ltd.	Joint venture company	7.54	14.18
Meja Urja Nigam Private Ltd.	Joint venture company	10.34	12.05
Aravali Power Company Private Ltd.	Joint venture company	4.38	5.82
NTPC-Tamil Nadu Energy Company Ltd.	Joint venture company	8.77	5.54
Energy Efficiency Services Ltd.	Joint venture company	5.43	3.52
Sale/purchase of goods
Energy Efficiency Services Ltd.	Joint Venture Company	19.54	38.01
Transformers and Electricals Kerala Ltd.	Joint Venture Company	3.28	-
Dividend received
NTPC-SAIL Power Company Ltd.	Joint venture company	95.00	50.00
Aravali Power Company Private Ltd.	Joint venture company	350.00	146.83
NTPC-Tamil Nadu Energy Company Ltd.	Joint venture company	51.41	-
Energy Efficiency Services Ltd.	Joint venture company	-	4.47
Utility Powertech Ltd.	Joint venture company	5.00	4.00
NTPC-GE Power Services Private Ltd.	Joint venture company	0.25	0.30
Equity contributions made
Meja Urja Nigam Private Ltd.	Joint venture company	142.60	262.31
Energy Efficiency Services Ltd.	Joint venture company	-	218.11
Bangladesh-India Friendship Power Company Pvt.Ltd.	Joint venture company	88.88	166.89
NTPC-Tamil Nadu Energy Company Ltd.	Joint venture company	8.29	12.50
Hindustan Urvarak & Rasayan Ltd.	Joint venture company	380.67	310.76
Loans granted
National High Power Test Laboratory Private Ltd.	Joint venture company	-	12.40
Guarantees received
Utility Powertech Ltd.	Joint venture company	4.80	17.80
NTPC-GE Power Services Private Ltd.	Joint venture company	-	0.21

e) Terms and conditions of transactions with the related parties

• (i) Transactions with the related parties are made on normal commercial terms and conditions and at arm length price.
• (ii) The Group is assigning jobs on contract basis, for sundry works in plants/stations/offices to M/s Utility Powertech Ltd (UPL), a 50:50 joint venture between the Parent Company and Reliance Infrastructure Ltd. UPL inter-alia undertakes jobs such as overhauling, repair, refurbishment of various mechanical and electrical equipment of power stations. The Group has entered into Power Station Maintenance Agreement with UPL from time to time. The rates are fixed on cost plus basis after mutual discussion and after taking into account the prevailing market conditions.
• (iii) The Group is seconding its personnel to Joint venture companies as per the terms and conditions agreed between the companies, which are similar to those applicable for secondment of employees to other companies and institutions. The cost incurred by the group towards superannuation and employee benefits are recovered from these companies.

(iv) Loans granted to joint venture companies are detailed below:

Sl.No.	Name of the jointventure company	Loan granted (Amount in `crore)	Rate of interest(p.a.)	Repaymentschedule	Purpose	Year of grant ofloan
1	National High Power	18.40 10%	(quarterly	Principal	Forrepaymentof	2019-20
	TestLaboratory		rest)	repayablein	loans/contractual
	Private Ltd. (JV)			twentysemi	obligations
				annual
				installments from
				30September
				2022Interest
				payablehalf
				yearly.

(v) Consultancy services provided by the Group to Joint venture companies are generally on nomination basis at the terms, conditions and principles applicable for consultancy services provided to other parties.

(vi) Outstanding balances of joint venture companies at the year-end are unsecured and settlement occurs through banking transaction. These balances other than loans are interest free. The Group has not recorded any impairment of receivables relating to amounts owed by related parties. This assessment is undertaken in each financial year through examining the financial position of the related party and the market in which the related party operates.

(f) Restrictions on disposal of investments and commitments towards further investments in respect of joint venture companies

(i) Commitments and contingent liabilities in respect of joint venture companies

The Group has commitments of **2,253.53 crore** (31 March 2020: 2,900.40 crore) towards further investment in the joint venture companies as at 31 March 2021.

The Group has commitments of bank guarantee of 0.50 % of total contract price to be undertaken by NTPC-BHEL Power Projects Private Ltd. limited to a cumulative amount of **75.00 crore** (31 March 2020: 75.00 crore).

The Group has agreed to provide unconditional and irrevocable financial support to NTPC GE Power Services Ltd. (a joint venture company) for meeting financial qualifying requirement for execution of Flue Gas De-sulfurisation (FGD) projects in India. Such support shall be provided by way of Letter of Undertaking to a cumulative exposure up to the award value of the contract(s) not exceeding 600.00 crore and cumulative exposure of the Company, in proportion to shareholding, would not exceed 300.00 crore (31 March 2020: ` 300.00 crore).

		` Crore
Particulars	As at	As at
	31 March 2021	31 March 2020
Contingent liabilities
Share of contingent liabilities incurred jointly with other investors of the joint venture companies	2,045.34	894.03
Possible reimbursements	336.59	215.47
Capital commitments	4,604.52	5,515.49

(ii) Details of significant restrictions

In respect of investments in joint venture companies, the Group has restrictions for their disposal as under:

` Crore
Name of the joint venture company	Period of restrictions for disposal of investments as per related agreements		Amount invested as at
		31 March 2021	31 March 2020
Transformers and Electricals Kerala Ltd.	3 years from the date of acquisition (i.e.19.06.2009) or upgradation capacity enhancement scheme whichever is later.	31.34	31.34
NTPC BHEL Power Projects Private Ltd.	3 years from the date of completion of first EPC contract of single order value of not less than `500 crore or tillfurther such time as mutually agreed.	50.00	50.00
National High Power Test Laboratory Private Ltd.	5 years from the date of incorporation (i.e. 22.05.2009) or completion of project whichever is later.	30.40	30.40
CIL NTPC Urja Private Ltd.	5 years from the date of incorporation (i.e. 27.04.2010) or commercial operation whichever is later.	0.08	0.08
Trincomalee Power Company Ltd.	12 years from the initial operation date.	15.20	15.20
Bangladesh-India Friendship Power Company Private Ltd.	15 years from the date of commercial operation date.	533.60	444.72
Meja Urja Nigam Private Ltd.	5 years from the date of incorporation (i.e. 02.04.2008) or commercial operation (i.e. 31.01.2021) whichever is later.	-	1,581.64
Hindustan Urvarak & Rasayan Ltd.	(a) 5 years from the date of incorporation (15.06.2016) or 2 years from commercial operation date of any one of theproposed projects at Sindri, Gorakhpur and Barauni or date of allotment of shares for first time, whichever is later.(b) As per Sponsors Support undertaking , NTPC shall jointly and severally with the other sponsors provideadditional funds to meet all cost overrun incurred/to be incurred in relation to the Project. Further, NTPC shall jointlywith the other sponsors, retain of 51% of total equity share capital of the JV and management control until the finalsettlement date of the loan facility (door to door tenure of 15 years).	1,131.76	751.09
Total		1,792.38	2,904.47