NTPC Limited — Regulatory Filings 2020

Nov 26, 2020

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NTPC Limited (A Government of India Enterprise)

CORPORATE CENTRE

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

Dated: 26.11.2020

	Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza Bandra Kurla Complex, Bandra(E) Mumbai-400 051 Email: - cmlist@nse.co.in	General Manager Department of Corporate Services BSE Limited Floor 25, Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400 001 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 30.09.2020.

Yours faithfully,

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(Aditya Dar) Chief General Manager (Finance)

Registered Office : NTPC Bhawan, SCOPE Complex, 7, Institutional Area. Lodi Road, New Delhi-110003 Corporate Identification Number : L40101DL1975GOI007966, Telephone No. -01124387333, Fax : 011-24361018, E-mail : isd@ntpc.co.in Website : www.ntpc.co.in

NTPC Limited

Related Party Disclosures - 30 September 2020 - Standalone

Disclosure as per Ind AS 24 'Related Party Disclosures'

a) List of related parties:

i) Subsidiary companies:

1. Bhartiya Rail Bijlee Company Ltd.

2. Kanti Bijlee Utpadan Nigam Ltd.

3. NTPC Vidyut Vyapar Nigam Ltd.

4. NTPC Electric Supply Company Ltd.

5. Patratu Vidyut Utpadan Nigam Ltd.

6. Nabinagar Power Generating Company Ltd.

7. NTPC Mining Ltd. (w.e.f. 29 August 2019)

8. THDC India Ltd. (w.e.f. 27 March 2020)

9. North Eastern Electric Power Corporation Ltd. (w.e.f. 27 March 2020)

10. NTPC EDMC Waste Solutions Pvt. Ltd. (w.e.f. 1 June 2020)

ii) Joint ventures companies:

1. Utility Powertech Ltd.

2. NTPC-GE Power Services Private Ltd.

3. NTPC-SAIL Power Company Ltd.

4. NTPC Tamil Nadu Energy Company Ltd.

5. Ratnagiri Gas & Power Private Ltd.

6. Aravali Power Company Private Ltd.

7. NTPC BHEL Power Projects Private Ltd.

8. Meja Urja Nigam Private Ltd.

9. Transformers and Electricals Kerala Ltd.

10. National High Power Test Laboratory Private Ltd.

11. Energy Efficiency Services Ltd.

12. CIL NTPC Urja Private Ltd.

13. Anushakti Vidhyut Nigam Ltd. 14. Hindustan Urvarak & Rasayan Ltd.

14. Konkan LNG Ltd.

15. Trincomalee Power Company Ltd. 17. Bangladesh-India Friendship Power Company Private Ltd.

Joint venture company of NEEPCO, a Subsidiary of the Company 1. KSK Dibbin Hydro Power Private Ltd

iii) Key Management Personnel (KMP):

Whole Time Directors

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 (Human Resources)	W.e.f. 1 April 2020
Mr. Ramesh Babu V.	Director (Operations)	W.e.f. 1 May 2020
Mr. C K Mondol	Director (Commercial)	W.e.f. 1 August 2020
Mr. Ujjwal Kanti Bhattacharya	Director (Projects)	W.e.f. 28 Aug 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)	W.e.f. 29 March 2018 to 2 November 2018 and W.e.f. 12
		February 2019 to 12 August 2019
Independent Directors
Dr. K.P.K.Pillay	Non-executive Director
Dr. Bhim Singh	Non-executive Director
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. Gauri Trivedi	Non-executive Director	Upto 15 November 2019
Mr. Seethapathy Chander	Non-executive Director	Upto 12 June 2019

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 W.e.f. 7 August 2018 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

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.

vi) Others:

1. NTPC Education and Research Society 2. NTPC Foundation

b) Transactions with the related parties are as follows:

Transactions with the related parties are as follows:
	`Crore
Particulars	Subsidiary Companies		Joint venture Companies
	For the halfyear ended		For the halfyear ended
	30 Sept 2020	30 Sept 2019	30 Sept 2020	30 Sept 2019
i) Sales/purchase of goods and services
- Contracts for works/services for services received by the Company	-	-	696.82	634.77
- Contracts for works/services for services provided bythe Company	36.31	16.88	28.14	23.24
- Sale/purchase ofgoods	1,007.46	998.24	6.13	14.92
ii)Sales/purchase of assets	0.50	0.01	1.36	1.21
iii)Deputation of employees	67.53	63.63	72.24	91.84
iv)Dividend received	436.48	-	120.25	83.65
v)Equitycontributions made	133.45	628.85	188.51	458.67
vi)Loansgranted	150.00	143.00	-	-
vii)Interest on loan	13.58	11.57	0.93	0.30
viii)Guarantees received	-	-	32.06	27.86

|Crore|Crore|`Crore|
|---|---|---|
|Particulars|For the half year ended
30 Sept 2020|For the half year ended
30 Sept 2019|
|Transactions withpost employment benefitplans|||
|- Contributions made duringtheperiod|416.04|403.09|
|Compensation to Key managementpersonnel|||
|- Short term employee benefits|1.71|3.23|
|- Post employment benefits|0.04|0.09|
|- Other longterm benefits|0.13|0.14|
|- Termination benefits|0.78|0.73|
|- Sittingfee|0.40|0.35|
|Total compensation to keymanagementpersonnel|3.06|4.54|

` Crore

||||Crore|Crore|
|---|---|---|---|---|
|Transactions with the relatedparties under the control of the samegovernment:|||||
|Sl. No.|Name of the Company|Nature of transaction by the Company|For the half year
ended
30 Sept 2020|

For the half year
ended
30 Sept 2019|
|1|Bharat Coking Coal Ltd.|Purchase of coal|145.46|568.36|
|2|Central Coalfields Ltd.||1,281.97|1,086.99|
|3|Eastern Coalfields Ltd.||2,917.58|3,341.46|
|4|Mahanadi Coalfields Ltd.||1,953.15|1,631.61|
|5|Northern Coalfields Ltd.||4,841.59|4,331.00|
|6|South Eastern Coalfields Ltd.||2,582.04|2,210.90|
|7|Western Coalfields Ltd.||77.03|236.28|
|8|Coal India Ltd.||36.73|99.99|
|9|Singareni Collieries CompanyLtd.||2,171.64|2,929.86|
|10|Bharat Heavy Electricals Ltd.|Purchase of equipment and erection services|335.40|1,054.68|
|||Purchase of spares|263.11|181.70|
|||Receipt of maintenance services|173.28|449.34|
|11|GAIL (India) Ltd.|Purchase of naturalgas|1,024.15|960.91|
|12|Indian Oil Corporation Ltd.|Purchase of oilproducts|292.12|346.08|
|13|Bharat Petroleum Corporation Ltd.|Purchase of natural gas and oil products|84.12|50.06|
|14|Steel Authorityof India Ltd.|Purchase of steel and ironproducts|109.36|80.24|
|15|REC Ltd.|Consultancy
services
provided
by
the
Company|-|29.01|
|16|RITES Ltd|Receipt of maintenance services|158.91|352.10|
|17|Other entities|Purchase of equipment and erection services|95.16|90.25|
|||Purchase of spares|19.23|12.00|
|||Receipt of maintenance services|33.92|122.50|
|||Consultancy and other services provided by
the Company|17.35
|32.74|
|||`Crore|||
|Transactions with others listed at (a)(vi) above||For the half year ended
30 Sept 2020|For the half year ended
30 Sept 2019||
|- Contracts for works/services for services received by
the Company||0.39|10.23||

c) Outstanding balances with related parties are as follows:

Outstanding balances with related parties are as follows:	Outstanding balances with related parties are as follows:	Outstanding balances with related parties are as follows:
`Crore
Particulars	As at 30 Sept 2020	As at 31 March 2020
Amount recoverable towards loans from
- Subsidiarycompanies	310.83	193.00
- Joint venture companies	18.92	19.09
- Keymanagementpersonnel	0.20	0.03
- Others	0.60	0.60
Amount recoverable other than loans from
- Subsidiarycompanies	570.35	579.59
- Joint venture companies	120.71	109.33
- Post employment benefitplans	63.52	37.42
- Others	0.38	0.42
Amountpayable to
- Joint venture companies	274.35	382.28
- Post employment benefitplans	252.31	230.54

d) Individually significant transactions

` Crore

Individually significant transactions			`Crore
Particulars	Nature of relationship	For the half year ended 30 Sept 2020	For the half year ended 30 Sept 2019
Contracts for works/services for services received by the Company
UtilityPowertech Ltd.	Joint Venture Company	549.71	517.01
NTPC BHEL Power Projects Private Ltd.	Joint Venture Company	22.09	86.34
NTPC-GE Power Services Private Ltd.	Joint Venture Company	123.59	26.21
Contracts for works/services for services provided by the Company
Patratu Vidyut Utpadan Nigam Ltd.	SubsidiaryCompany	9.31	10.99
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	4.69	2.55
THDC India Linited	Subsidiary Company	10.16	2.37
Nabinagar Power GeneratingCompanyLtd.	Subsidiary Company	7.23	1.19
NTPC SAIL Power CompanyLtd	Joint Venture Company	4.23	7.21
Meja Urja Nigam Private Limited	Joint Venture Company	5.67	10.06
Sale ofgoods
NTPC Vidyut Vyapar Nigam Ltd.	SubsidiaryCompany	882.04	925.55
Nabinagar Power GeneratingCompanyLtd.	SubsidiaryCompany	124.56	59.95
Purchase ofgoods
EnergyEfficiencyServices Ltd.	Joint Venture Company	5.50	13.65
Dividend received
NTPC-SAIL Power CompanyLtd.	Joint Venture Company	20.00	-
Aravali Power CompanyPrivate Ltd.	Joint Venture Company	100.00	75.18
NTPC GE Power Services Pvt. Ltd.	Joint Venture Company	0.25	-
EnergyEfficiencyServices Ltd.	Joint Venture Company	-	4.47
UtilityPowertech Ltd.	Joint Venture Company	-	4.00
NTPC Vidyut Vyapar Nigam Ltd.	SubsidiaryCompany	10.00	-
Bhartiya Rail Bijlee CompanyLtd.	SubsidiaryCompany	101.48	-
THDC India Linited	SubsidiaryCompany	300.00	-
NEEPCO	SubsidiaryCompany	25.00	-
Equity contributions made
Kanti Bijlee Utpadan Nigam Ltd.	SubsidiaryCompany	-	50.00
Patratu Vidyut Utpadan Nigam Ltd.	SubsidiaryCompany	74.00	149.00
Nabinagar Power GeneratingCompanyLtd.	SubsidiaryCompany	59.45	429.85
Meja Urja Nigam Private Ltd.	Joint Venture Company	42.80	100.00
EnergyEfficiencyServices Ltd.	Joint Venture Company	-	218.11
Bangladesh-India FriendshipPower CompanyPvt.Ltd.	Joint Venture Company	88.88	82.71
NTPC-Tamil Nadu EnergyCompanyLtd.	Joint Venture Company	3.90	12.50
Hindustan Urvarak & Rasayan Ltd.	Joint Venture Company	52.93	45.35
Loansgranted
Kanti Bijlee Utpadan Nigam Ltd.	SubsidiaryCompany	15.00	83.00
NTPC Vidyut Vyapar Nigam Ltd.	Subsidiary Company	-	60.00
Guarantees received
UtilityPowertech Ltd.	Joint Venture Company	17.80	13.60
NTPC-GE Power Services Private Ltd.	Joint Venture Company	14.26	14.26

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.

iv)	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:	Loans granted to subsidiaries and joint venture companies are detailed below:
	Sl. No.	Name of the subsidiary (S)/joint venture (JV) company	Loan granted (Amount in ` crore)	Rate of interest (p.a.)	Repayment schedule	Purpose	Year of grant of loan
	1	Kanti Bijlee Utpadan Nigam Ltd. (S)	121.00	10% (quarterly rest)	The loan has been fully repaid / adjusted during the FY 2019-20.	To facilitate progress of ongoing expansion and meeting debt service requirements.	2016-17
			193.00	10% (quarterly rest)	Repayable in six equal semi-annual installments from 30 September 2020.	To sustain ongoing operation activities and meet debt servicing requirements.	2017-18
			150.00	10% (quarterly rest)	Repayable in six equal quarterly installments from 31 December 2021.	For loan repayment, interest payment and to discharge statutory obligations.	2019-20
	2	Patratu Vidyut Utpadan Nigam Ltd. (S)	50.00	10% (quarterly rest)	The loan has been fully repaid/adjusted during the FY 2019-20.	To sustain ongoing O&M and R&M activities.	2016-17
	3	National High Power Test Laboratory Private Ltd. (JV)	18.40	10% (quarterly rest)	Principal and interest repayable in twenty semi-annual installments from 30 September 2022.	For repayment of loans / contractual obligations	2019-20
	4	NTPC Vidyut Vypar Nigam Ltd. (S)	90.00	10 % (quarterly rest)	Out of the loan granted, an amount of ` 60.00 Crore was paid which has been fully repaid / adjusted during the FY 2019-20.	For meeting short term working capital requirement	2019-20

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 half year end are unsecured 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) Restrictions on disposal of investment and commitmment towards further investments in the subsidiary and joint venture companies

i) In respect of investments of **19,933.37 crore** including share application money pending allotment of Nil (31 March 2020: 19,799.92 crore including share application money pending allotment of 197.28 crore) in subsidiary companies, the Company has restrictions for their disposal as at 30 September 2020 as under:

restrictions for their disposal as at 30 September 2020 as under:	restrictions for their disposal as at 30 September 2020 as under:
		`Crore
Name of the Subsidiary	Period of restrictions for disposal of investments as per related agreements	Amount invested as at
		30 Sept 2020	31 March 2020
Bhartiya Rail Bijlee Company Ltd.	5 years from the date of commercial operation of the last unit of the project.	1,774.12	1,774.12
Kanti Bijlee Utpadan Nigam Ltd.	5 years from the date of commercial operation. Further, as per loan agreement, minimum equity of 51% shall be maintained at all times until final settlement of loan i.e., 4 years moratorium period and subsequently 11 years for repayment.	1,610.67	1,610.67
Patratu Vidyut Utpadan Nigam Ltd.	5 years from the date of signing of agreement or till the date of commercial operation of the last new unit of Phase-I, whichever is later.	572.13	498.12
Nabinagar Power Generating Company Ltd.	NTPC shall not transfer/assign or pledge shares until final settlement of loan i.e. 5 years moratorium and subsequently 15 years for repayment.	4,476.45	4,417.01
THDC India Ltd.	Save and except with prior written consent of GOI, NTPC shall not take any action that may result in shareholding in the subsidiary falling below 51% and shall not take any action that may result in the subsidiary ceasing to be a government company.	7,500.00	7,500.00
North Eastern Electric Power Corporation Ltd.	Save and except with prior written consent of GOI, NTPC shall not take any action that may result in shareholding / or total voting power in the subsidiary falling below 51% and shall not take any action that may result in the subsidiary ceasing to be a government company. Further, NTPC shall continue to hold 100% of paid up capital and voting power in the subsidiary till all amounts repayable under the loan agreement executed between the subsidiary and KfW are repaid.	4,000.00	4,000.00
Total		19,933.37	19,799.92

ii) In respect of investments of **3,089.07 crore** including share application money pending allotment of Nil (31 March 2020: 2,904.47 crore including share application money pending allotment of Nil) in the joint venture companies, the Company has restrictions for their disposal as at 30 September 2020 as under:

Name of the Joint Venture Company	Period of restrictions for disposal of investments as per related agreements	Amount invested as at	Amount invested as at
		30 Sept 2020	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 till further 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 CompanyPrivate 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 whichever is later.	1,624.44	1,581.64
Hindustan Urvarak and Rasayan Ltd.	(a) 5 years from the date of incorporation (15.06.2016) or 2 years from commercial operation date of any one of the proposed 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 provide additional funds to meet all cost overrun incurred/to be incurred in relation to the Project. Further, NTPC shall jointly with the other sponsors, retain 51% of total equity share capital of the JV and management control until the final settlement date of the loan facility (door to door tenure of 15 years).	804.01	751.09
Total		3,089.07	2,904.47

iii) The Company has commitments of **4,354.54 crore** (31 March 2020: 4,487.78 crore) towards further investment in the subsidiary companies as at 30 September 2020.

iv) The Company has commitments of **2,693.94 crore** (31 March 2020: 2,900.40 crore) towards further investment in the joint venture entities as at 30 September 2020.

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** as at 30 September 2020 (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).

NTPC Limited

Related Party Disclosures - 30 September 2020 - Consolidated

Disclosure as per Ind AS 24 'Related Party Disclosures'

a)	List of Related parties:
	i) Joint venture companies:
	1. Utility Powertech Ltd.
	2. NTPC-GE Power Services Private Ltd.
	3. NTPC-SAIL Power Company Ltd.
	4. NTPC Tamil Nadu Energy Company Ltd.
	5. Ratnagiri Gas & Power Private Ltd.
	6. Aravali Power Company Private Ltd.
	7. NTPC BHEL Power Projects Private Ltd.
	8. Meja Urja Nigam Private Ltd.
	9. Transformers and Electricals Kerala Ltd.
	10. National High Power Test Laboratory Private Ltd.
	11. Energy Efficiency Services Ltd.
	12. CIL NTPC Urja Private Ltd.
	13. Anushakti Vidhyut Nigam Ltd.
	14. Hindustan Urvarak & Rasayan Ltd.
	15. Konkan LNG Ltd.
	16. Trincomalee Power Company Ltd.
	17. 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):	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 (Human Resources)	W.e.f. 1 April 2020
Mr. Ramesh Babu V.	Director (Operations)	W.e.f. 1 May 2020
Mr. C K Mondol	Director (Commercial)	W.e.f. 1 August 2020
Mr. Ujjwal Kanti Bhattacharya	Director (Projects)	W.e.f. 28 Aug 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)	W.e.f. 29 March 2018 to 2 November 2018 and W.e.f.
		12 February 2019 to 12 August 2019
Independent Directors
Dr. K.P.K.Pillay	Non-executive Director
Dr. Bhim Singh	Non-executive Director
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. Gauri Trivedi	Non-executive Director	Upto 15 November 2019
Mr. Seethapathy Chander	Non-executive Director	Upto 12 June 2019
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	W.e.f. 7 August 2018 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

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:

1. NTPC Vidyut Vyapar Nigam Ltd. Shri A.K. Gautam Chairman Shri A.K. Gupta Chairman Shri P.K. Mohapatra Chairman Ms Nandini Sarkar Director Shri Rajnish Bhagat Director Shri C K Mondal Director Shri C.V. Anand Director Shri Mohit Bhargava CEO Shri A.K. Poddar CEO Shri Rajnish Bhagat CEO Shri Kumar sanjay CFO Shri Nitin Mehra Company Secretary

W.e.f. 18 August 2020 W.e.f. 07 August 2019 upto 31 July 2020 Upto 31 July 2019

W.e.f. 11 October 2019 W.e.f. 18 August 2020 Upto 09 October 2019 W.e.f 16 January 2020 W.e.f 18 July 2019 up to 31 December 2019 Upto 03 June 2019

1. NTPC Electric Supply Company Ltd.

Mr. Dillip Kumar patel Chairman & Director Mr. Saptarshi Roy Chairman & Director Mr. Praveen Saxena Director Mr. Rajendra Mohan Arya Director Mr. Sudhir Arya Director

W.e.f. 06 April 2020 Upto 31 March 2020

W.e.f.28 August 2019 Upto 29 July 2019

3. Kanti Bijlee Utpadan Nigam Ltd.

Shri Ramesh Babu V Chairman (Non-Executive) Shri Prakash Tiwari Chairman (Non-Executive) Shri Ajay Dua Non-Executive Director Ms. Shoba Pattabhiraman Non-Executive Director Shri Asit Mukherjee Non-Executive Director Shri S. Narendra Non-Executive Director Shri U. Banerjee Chief Executive Officer Ms. Sangeeta Bhatia Non-Executive Director Shri Subrata Mandal Chief Executive Officer Shri R Bhattacharya Chief Finance Officer Shri V.K.Mittal Chief Finance Officer Ms. Priyanka Sethi Company Secretary Ms. Ruchi Aggarwal Company Secretary

W.e.f. 11 May 2020 Upto 30 April 2020

W.e.f. 1 November 2019 W.e.f. 18 May 2020 Upto 30 April 2020 Upto 17 February 2020 Upto 9 October 2019 W.e.f. 18 February 2020 W.e.f. 1 July 2020 Upto 30 June 2020 W.e.f. 22 September 2020 Upto 16 March 2020

4.Bhartiya Rail Bijlee Company Limited

Shri A.K. Gupta Non-executive Director Shri Ramesh Babu V. Non-executive Director Shri S. Narendra Non-executive Director Shri R.K. Jain Non-executive Director Ms. Renu Narang Non-executive Director Ms. Sangeeta Bhatia Non-executive Director Shri Asit Kumar Mukerjree Non-executive Director Shri C Sivakumar Chief Executive Officer Shri P M Jena Chief Executive Officer Shri Manoj Srivastava Chief Finance Officer Shri Vishal Garg Company Secretary

upto 31 July 2020 w.e.f. 18 August 2020 upto 30 April 2020 W.e.f. 16 July 2018 w.e.f. 19 November 2019 upto 31 August 2019 w.e.f. 26 May 2020 upto 31 May 2020 w.e.f. 1 June 2020 w.e.f. 3 November 2017

1. Patratu Vidyut Utpadan Nigam Ltd.

Mr. Dillip Kumar Patel Chairman Mr. A. K. Gupta Chairman Mr. Saptarshi Roy Chairman Mr. S. K. Roy Director & Chairman Mr. Avinash Kumar, IAS Director Mr. L. Khiangte, IAS Director Ms. Vandana Dadel, IAS Director Mr. Avnish Srivastava Director Ms. Nandini Sarkar Director Mr. T. R. Datta Director Ms. Sangeeta Bhatia Director Mr. Sudarsan Chakrabarti CEO Mr. A. K. Acharya CFO Mr. Sipan K. Garg Company Secretary

W.e.f. 20 August 2020 W.e.f. 10 April 2020 upto 31 July 2020 W.e.f 23 January 2020 upto 31 March 2020 Upto 30 November 2019 W.e.f. 18 September 2020 W.e.f. 20 November 2019 upto 15 September 2020 Upto 7 November 2019 W.e.f. 15 October 2019 W.e.f. 15 October 2019 Upto 31 July 2019 Upto 31 August 2019

1. Nabinagar Power Generating Company Ltd. Shri Ramesh Babu V. Chairman Shri A. K. Gupta Chairman Shri C.V.Anand Ms.Alka Saigal Shri Asit Kumar Mukherjee Shri S. Narendra Shri Sudhir Arya Smt Sangeeta Bhatia Shri Vijai Singh Shri M.K.S.Rajput Shri Balaji Iyengar Shri Sanjeeb Kumar Rath Shri M.K.Singh Shri Manish Kumar

Chairman Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Chief Executive Officer Chief Executive Officer Chief Executive Officer Chief Financial Officer Chief Financial Officer Company Secretary

1. NTPC Mining Ltd. Shri C.K.Mondol Shri A. K. Gupta Shri Parth Mazumdar Shri Aditya Dar

Chairman Chairman Non-Executive Director Non-Executive Director

W.e.f. 18.08.2020 W.e.f. 13.11.2017 upto 31.07.2020 W.e.f. 30.07.2019 W.e.f. 06.11.2019 W.e.f. 13.05.2020 W.e.f. 04.05.2018 upto 30.04.2020 Upto 29.07.2019 Upto 09.10.2019 W.e.f. 14.05.2019 W.e.f. 13.04.2019 upto 14.05.2019 Upto 13.04.2019 W.e.f. 16.05.2019 W.e.f. 12.09.2018 upto 16.05.2019

W.e.f. 17.08.2020 Upto 31.07.2020

8. THDC India Ltd.

Shri D V Singh Shri Vijay Goel Shri J. Behera Shri R K Bishnoi Shri H L Arora Ms. Rashmi Sharma

Chairman & Managing Director Director (Personnel) Director (Finance) Director (Technical) Director (Technical) Company Secretary

W.e.f. 16 August 2019 W.e.f. 1 September 2019 Upto 31 August 2019

1. North Eastern Electric Power Corporation Ltd.

Shri V K Singh Chairman & Managing Director Shri A G West Kharkongor Chairman & Managing Director Shri Hemanta Kumar Deka Director (Technical) Shri M Shiva Shunmuganathan Director (Finance) Shri Anil Kumar[1] Director (Personnel) 1. Holding additional charge of Director (Finance) w.e.f. 2.4.2020

W.e.f. 1 September 2019 Upto 31 August 2019 W.e.f. 6 July 2020 upto 2 April 2020

1. NTPC EDMC Waste Solutions Pvt. Ltd.

Shri Sital Kumar Nischal Shri Pradeep Kumar Khandelwal Shri Amit Kumar Kulshreshta Shri Achal Kumar Arora

Chairman Director Director Director

iii) 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

• 5.THDC Employees Provident Fund Trust

6.THDCIL Employees Defined Contribution Superannuation Pension Trust

• 7.THDCIL Post Retirement Medical Facility Fund Trust

8.NEEPCO Employees Provident Fund Trust

9.NEEPCO Employees Defined Contribution Superannuation Scheme Trust

10.NEEPCO Employees Social Security Scheme Trust

11.NEEPCO Employees Group Gratuity Assurance Fund Trust 12.NEEPCO Employees Post Retirement Medical Benefit 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:

Transactions with the related parties are as follows:	Transactions with the related parties are as follows:
		`Crore
Particulars		Joint Venture Companies
		For the halfyear ended
		30 Sept 2020	30 Sept 2019
i)Sales/purchase ofgoods and services duringtheperiod
- Contracts for works/services for services received bythe Group		723.65	634.77
- Contracts for works/services for servicesprovided bythe Group		28.14	23.24
- Purchase ofgoods		6.63	14.92
ii)Sales/purchase of assets		1.36	1.21
iii)Deputation of employees		72.24	91.84
iv)Dividend received		120.25	83.65
v)Equitycontributions made		188.51	458.67
vi)Loansgranted		-	-
vii)Interest on loan		0.93	0.30
viii)Guarantees received		32.06	27.86
		`Crore
Particulars	For the half year ended 30 Sept 2020	For the half year ended 30 Sept 2019
Transactions withpost employment benefitplans
- Contributions made duringtheperiod	561.05	403.49
Compensation to Key managementpersonnel
- Short term employee benefits	5.99	9.26
- Post employment benefits	0.56	0.56
- Other longterm benefits	0.26	0.60
- Termination benefits	0.78	0.73
- Sittingfee	0.40	0.35
Total compensation to keymanagementpersonnel	7.99	11.50

` Crore

||||Crore|Crore|
|---|---|---|---|---|
|Transactions with the relatedparties under the control of the||samegovernment:|||
|Sl. No.|Name of the Company|Nature of transaction by the
company|For the half year
ended
30 Sept 2020|

For the half year
ended
30 Sept 2019|
|1|Bharat CokingCoal Ltd.|Purchase of coal|145.46|568.36|
|2|Central Coalfields Ltd||1,918.08|1,680.96|
|3|Eastern Coalfields Ltd||2,917.58|3,372.24|
|4|Mahanadi Coalfields Ltd||1,953.15|1,631.61|
|5|Northern Coalfields Ltd.||4,841.59|4,331.00|
|6|South Eastern Coalfields Ltd||2,582.04|2,210.90|
|7|Western Coalfields Ltd.||77.03|236.28|
|8|Singareni Collieries CompanyLtd.||2,171.64|2,929.86|
|9|Coal India Ltd.||36.73|99.99|
|10|Bharat Heavy Electricals Ltd.|Purchase of equipment & erection
services|829.59
|1,321.76|
|||Purchase of spares|263.11|181.70|
|||Receipt of maintenance services|173.28|449.34|
|11|GAIL (India) Ltd.|Purchase of naturalgas|1,024.15|960.91|
|12|Indian Oil Corporation Ltd.|Purchase of oilproducts|296.11|347.33|
|13|Bharat Petroleum Corporation Ltd.|Purchase of natural gas and oil
products|93.40|118.62|
|14|Steel Authority of India Ltd.|Purchase of steel and iron
products|117.34|86.22|
|15|Rural Electrification Corporation Ltd.|Consultancy services provided by
the Group|-
|29.01|
|16|Rites Ltd|Receipt of maintenance services|201.83|361.27|
|17|POSOCO|Open Access Booking|126.99|108.99|
|18|Power Grid Corporation of India Ltd.||63.54|23.22|
|19|Others||0.16|0.16|
|20|Damodar ValleyCorporation|Sale of Bilateral Energy|543.43|478.78|
|21|National Aluminium CompanyLimited (NALCO)||15.22|12.24|
|22|Other entities|Purchase of equipment & erection
services|95.25
|94.62|
|||Purchase of spares|19.23|12.00|
|||Receipt of maintenance services|55.33|253.38|
|||Consultancy and Other Services
provided by the Group|21.43|38.23|
|||Sale of Solar Energy|18.81|19.55|

|Crore|Crore|Crore|Crore|
|---|---|---|---|
|Transactions with others listed at (a)(v) above|For the half year ended
30 Sept 2020|
For the half year ended
30 Sept 2019||
|- Contracts for works/services for services received by the
Group|0.39|10.23||
|Outstanding balances with related parties are as follows:
`Crore||||
|Particulars||As at
30 Sept 2020|
As at
31 March 2020|
|Amount recoverable towards loans from||||
|- Joint venture companies||18.92|19.09|
|- Keymanagementpersonnel||0.20|0.03|
|- Others||0.60|0.60|
|Amount recoverable other than loans from||||
|- Joint venture companies||120.71|109.33|
|- Post employment benefitplans||63.52|37.42|
|- Others||0.38|0.42|
|Amountpayable to||||
|- Joint venture companies||277.82|391.82|
|- Post employment benefitplans||252.31|230.54|

c) Outstanding balances with related parties are as follows:

` Crore

|d)|Individually significant transactions|Individually significant transactions|Crore|Crore|
|---|---|---|---|---|
||Particulars|Nature of relationship|Amount||
||||For the half year
ended
30 Sept 2020|

For the half year
ended
30 Sept 2019|
||Contracts for works/services for services received by the
Group||||
||UtilityPowertech Ltd.|Joint venture company|576.54|534.66|
||NTPC BHEL Power Projects Private Ltd.|
Joint venture company|22.09|86.34|
||NTPC-GE Power Services Private Ltd.|Joint venture company|123.59|26.21|
||Contracts for works/services for services provided by the
Group||||
||NTPC-SAIL Power CompanyLtd.|Joint venture company|4.23|7.21|
||Meja Urja Nigam Private Ltd.|Joint venture company|5.67|10.06|
||Sale/purchase ofgoods||||
||EnergyEfficiencyServices Ltd.|Joint Venture Company|6.00|13.65|
||Dividend received||||
||NTPC-SAIL Power CompanyLtd.|Joint venture company|20.00|-|
||Aravali Power CompanyPrivate Ltd.|Joint venture company|100.00|75.18|
||NTPC GE Power Services Pvt. Ltd.|Joint Venture Company|0.25|
-|
||EnergyEfficiencyServices Ltd.|Joint venture company|-|4.47|
||UtilityPowertech Ltd.|Joint venture company|-|4.00|
||Equity contributions made||||
||Meja Urja Nigam Private Ltd.|Joint venture company|42.80|100.00|
||EnergyEfficiencyServices Ltd.|Joint venture company|-|218.11|
||Bangladesh-India FriendshipPower CompanyPvt.Ltd.|Joint venture company|88.88|82.71|
||NTPC-Tamil Nadu EnergyCompanyLtd.|Joint venture company|3.90|12.50|
||Hindustan Urvarak & Rasayan Ltd.|Joint venture company|52.93|45.35|
||Guarantees received||||
||UtilityPowertech Ltd.|Joint venture company|17.80|13.60|
||NTPC-GE Power Services Private Ltd.|Joint venture company|14.26|14.26|

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:	Loans granted to joint venture companies are detailed below:	Loans granted to joint venture companies are detailed below:	Loans granted to joint venture companies are detailed below:	Loans granted to joint venture companies are detailed below:	Loans granted to joint venture companies are detailed below:	Loans granted to joint venture companies are detailed below:
	Sl. No.	Name of the joint venture company	Loan granted (Amount in ` crore)	Rate of interest (p.a.)	Repayment schedule	Purpose	Year of grant of loan
	1	National High Power Test Laboratory Private Ltd.	18.40	10% (quarterly rest)	Principal and interest repayable in twenty semi- annual installments from 30 September 2022.	For repayment of loans / contractual obligations	2019-20

• (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 half 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 in respect of joint venture companies

The Group has commitments of **2,693.94 crore** (31 March 2020: 2,900.40 crore) towards further investment in the joint venture companies as at 30 September 2020.

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** as at 30 September 2020 (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).

(ii) Details of significant restrictions

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

` Crore

|||Crore|Crore|
|---|---|---|---|
|Name of the joint venture company|Period of restrictions for disposal of investments as per related agreements|Amount invested as at||
|||30 Sept 2020|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 till
further such time as mutuallyagreed.|50.00|50.00|
|National High Power Test LaboratoryPrivate Ltd.|5years from the date of incorporation(i.e. 22.05.2009)or completion ofproject whichever is later.|30.40|30.40|
|CIL NTPC Urja Private Ltd.|5years from the date of incorporation(i.e. 27.04.2010)or commercial operation whichever is later.|0.08|0.08|
|Trincomalee Power CompanyLtd.|12years from the initial operation date.|15.20|15.20|
|Bangladesh-India FriendshipPower CompanyPrivate Ltd.|15years from the date of commercial operation date.|533.60|444.72|
|Meja Urja Nigam Private Ltd.|5years from the date of incorporation(i.e. 02.04.2008)or commercial operation whichever is later.|1,624.44|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 the
proposed 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 provide
additional funds to meet all cost overrun incurred/to be incurred in relation to the Project. Further, NTPC shall jointly
with the other sponsors, retain of 51% of total equity share capital of the JV and management control until the final
settlement date of the loan facility (door to door tenure of 15 years).|804.01|751.09|
|Total||3,089.07|2,904.47|