The Nomination and Remuneration Committee (NRC) then discussed the above feedback received from all the Directors.

34.98 crore (excluding interest), as on 31st May2008.

954 crore last year.

Your Company stands committed to achieving its target of 2025% share of its generation mix through clean and green sources. The Company's secretarial audit carried out in the current year has not indicated any major lapses.

This initiative helps in sensitizing the community on sustainability through various conservation ideas.

Disclosures about regulatory and legal matters. Remuneration Policy for the Directors, Key Managerial Personnel and other employees.

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In September 2014, the Company had submitted the 9th Communication on Progress (CoP) to UNGC. The Control SelfAssessment questionnaire is designed to test effectiveness of deployment of existing controls for processes which are not to be audited as per the audit plan.

300 crore. Mr. Thomas Mathew T., LIC nominee on your Company's Board, resigned as a Director of your Company effective 30th April 2015. In August 2013, MERC determined the MultiYear Tariff (MYT) for all distribution licensees for FY 201314, FY 201415 and FY 201516. The Company has also been a lead adopter of technologies with several firsts to its name like first SCADA implementation, first 500 MW unit, first islanding implementation and first 800 MW supercritical unit in India.

In the year 201415, the function reviewed and ensured sustained effectiveness of Internal Financial Controls by adopting a systematic approach to assess design and operating effectiveness. 10.6. Business Responsibility Report (BRR). The report, which is being prepared in accordance to the Comprehensive criteria, is specific to the Indian operations of Tata Power viz. The company has filed an Appeal with ATE challenging a few disallowances.

The Company's commitment to sustainability is demonstrated in several programmes encompassing community development, affirmative action initiatives, environment and biodiversity initiatives and focus on clean and green power. 3.30.

As of the date of this report, Tubed block is expected to be put on auction soon by MoC. However, no hearings were held on the matter during the year. 1,010 crore as compared to Rs.

The year saw Tata Power rampup CSR capabilities and operations across all locations by bringing robustness to systems and processes to ensure effective programs which deliver longterm impact and change to the community. Further, the Company is committed to pursuing its policy on Human Rights. Based on the Risk Management Policy (.

7th May 2014), Mr. S. Padmanabhan, Executive Director (Operations)(till 30th June 2014), Mr. Ramesh N. Subramanyam, Chief Financial Officer.

The following process was adopted for Board Evaluation: Feedback was sought from each Director about their views on the performance of the Board covering various criteria such as degree of fulfilment of key responsibilities, Board structure and composition, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning, Board culture and dynamics, quality of relationship between the Board and the Management and efficacy of communication with external stakeholders.


Reliance Infrastructure Limited (RInfra) has also subsequently filed an appeal before the Supreme Court challenging the ATE order. Eight Risk Management SubCommittees (RMSCs) closely monitor and review the risk plans.

Directors and Key Managerial Personnel.

In addition, as all Procurers challenged the CERC Order (passed on 21st February 2014) even after actively participating in the Committee proceedings, the company decided to review its decision not to challenge Force Majeure and Change in Law and filed a crossappeal before ATE along with an interim application seeking condonation of delay in filing such appeal.

On an appeal filed by RInfra, the ATE upheld the Company's contention with regard to payment for energy charges but reduced the rate of interest.

This helps the Company to identify focus audit areas, design audit plan and support CEO/CFO certification for internal controls.

After transfer of assets to the new allocatee, Tubed Coal Mines Limited, the JV company, will be closed down as per statutory guidelines. In view of this, CGPL had filed a petition before Central Electricity Regulatory Commission (CERC) seeking relief by way of establishment of an appropriate mechanism to offset the adverse impact caused by the steep hike in coal prices.

As further support to establish efficiency and effectiveness of Internal Financial Controls, in addition to internal audits, the Company also submits declarations to various regulatory authorities like MERC, SEBI, RBI etc. | Policy for determining material subsidiaries of the Company has been provided in the following link: .

1 each), subject to the approval of the Members.

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Post recognition of 'General conformance to international audit standards' from Institute of Internal Auditors (IIA Global) last year, quality review of audit reports is carried out as per IIA global guidelines before the report is issued.

11. The statutory auditors carry out an audit at quarterly intervals and these reports have not reported any adverse findings.

30th June 2014. Your Company has been actively working on five thrust areas in Corporate Social Responsibility (CSR) Primary Education with focus on girl child, Health & Drinking Water, Livelihood and Employability, Social Capital and Infrastructure, and Inclusive Growth. In FY15, the CSR policy for different Tata Power Group companies was aligned to the five thrust areas and programs were rolled out across locations and mapped with ScheduleVII of the Companies Act with timelines and outcome indicators.

The Consolidated Profit after Tax in FY15 stood at Rs. Tata Power has a structured Safety organization for monitoring, implementing and taking corrective actions for safety improvements. In case controls have not been embedded in the system, other compensating controls such as makerchecker are exercised to assess the robustness of the process. Pursuant to the provisions of the Act and Clause 49 of the Listing Agreement, the Board has carried out an annual evaluation of its own performance, performance of the Directors individually as well as the evaluation of the working of its Committees. Mandakini: As per the directive of MoC, information regarding assets and liabilities has been submitted to the Nominated Authority. Your Company has set up Tata Power Skill Development Institute (TPSDI) to ensure that unskilled and semiskilled are adequately upgraded in their capabilities. Tubed: As per the directive of Ministry of Coal (MoC), information regarding assets and liabilities has been submitted to the Nominated Authority.

18.2 crore, as against the requirement of Rs. It may be noted that the Ld.

Major highlights of programs in FY15 are as follows: Reached out to half a million beneficiaries through initiatives in Education, Health, Livelihood, Social Capital & Nurturing Sustainability More than 3500 Relief/Hygiene kits were distributed to the impacted families during Jammu & Kashmir (J & K) Flood Relief 2000 Solar lamps were provided to Vishakapatnam district in response to Cyclone HudHud, Reached out to more than 350 schools covering more than 1,00,000 school students through various educational initiatives.

In the meantime, the company has also filed an interim application seeking liberty to make necessary submissions to defend its case on the issues of Force Majeure and Change in Law, which were rejected by CERC in its order dated 15th April 2013.

Key judgements of MERC and Hon'ble Appellate Tribunal for Electricity (ATE) related to network rollout and movement of consumers in Mumbai.

The Earnings per Share (Basic) in FY15 stood at Rs.

British Standards Institution (BSI) has conferred the Statement of Compliance to Tata Power for ISO 31000:2009 a certification that implies that the Company has strong processes for risk identification, management and mitigation. On a Standalone basis, the Operating Revenue was maintained at Rs. Based on the inputs received, the Chairman of the NRC also made a presentation to the Independent Directors at their meeting, summarising the inputs received from the Directors as regards Board performance as a whole, and of the Chairman. Highlights of operational performance of your Company and its key subsidiaries and joint ventures are available in the Management Discussion and Analysis. 168 crore as compared to a loss of Rs.

This journey began in 1915 when the erstwhile 'The Tata HydroElectric Power Supply Company Limited' (since amalgamated with your Company) commissioned its first hydroelectric power station at Khopoli and later at Bhivpuri and Bhira (all nearby areas to city of Mumbai, Maharashtra, India).

Assessment mechanism for measuring the existence and effectiveness of controls are established by the fact that the Value Added Index, which is a measure of effectiveness and contribution of the internal audit to top management and Audit Committee, has improved over the years and so has the RCI Index, thereby giving assurance to management of efficiency and effectiveness of the Internal Financial Controls.

Every statutorily mandated committee of the Board conducted a selfassessment of its performance and these assessments were presented to the Board for consideration. COSO is a leading framework, which provides guidance on the design and evaluation of internal controls. 17.2 crore as per the Act.

6. Details of various risks faced by the Company are provided in Management Discussion & Analysis.

The Company has set up the Internal audit function which endeavours to make meaningful contributions to the organisation's overall governance, risk management, and internal controls. (Alternately,scan the adjacent QR Code using a mobile device to read the policy on the Company website). Risk Management Framework and Internal Financial Controls. This has helped in assessing the effectiveness and efficiency of operational controls, enhanced governance and consideration of antifraud expectations, reliability of financial reporting and statutory compliances. MERC, through its order dated 14th August 2014, has granted a Transmission License to the Company for 25 years with effect from 16th August 2014 covering all Transmission Lines and Receiving Substations located in and outside Mumbai area or proposed to be commissioned as per the Intra State Transmission System of Maharashtra.

The major programs carried out in the neighbourhood of the operating plants and projects are Skill Development Programs for youth (Industrial Training Institutes, Business Process Outsourcing training and vocational trainings), entrepreneurial programs like fly ash brick making/supporting Self Help Groups, assistance in obtaining caste certificate through dedicated drives and support for educational initiatives for school children along with assistance in the development of adequate infrastructure.

This was mainly due to higher dividend and interest income.

Tata Power and RInfra filed appeals in the Supreme Court.

'Care' is one of the core values of your Company and has the following elements: Care for Environment, Care for Community, Care for Customers and Care for People i.e.

Being aggrieved by the above Order, the company filed a Civil Appeal before the Hon'ble Supreme Court. The Tata Power Company Limited completed 100 years of its operations in February 2015. This has been done for 5 elements and 17 principles, which provides assurance of financial controls in place at the level of functional heads and at top management level. 50008000, More than 110 villages reached through water and energy solutions More than 50 villages installed with Solar Street Lights across locations 45,000 hours contributed through employee volunteering.

The major businesses of the Company are in Generation, Transmission, DistributioncumRetail, Power Trading, Power Services, Coal Mines and Logistics, Strategic Engineering for defence applications, Solar Photovoltaic (PV) manufacturing and associated project management services (Engineering, Procurement, Construction). infrastructure, Updated:22 Jul, 2022, 15:59 PM

7.6. The CERC, in its order dated 15th April 2013, while rejecting the claim of the company under Force Majeure and Change in Law aspects gave directives to constitute a committee to recommend a quantum of compensatory tariff.

The block was put on auction by MoC and vesting order to the new allocatee would be issued as per the auction process. Maharashtra Electricity Regulatory Commission (MERC), through its order dated 14th August 2014, has granted a Distribution License to the Company for 25 years with effect from 16th August 2014 covering the entire South Mumbai area, Mumbai Suburban areas and areas of Mira Bhayandar Municipal Corporation including area covered under Chene and Varsave. The responses received from process owners on the questionnaire are analysed and validated through spot audits.


Transmission license in Mumbai and adjoining areas.

Aggrieved by the above, one of the Procurers challenged this interim order before Hon'ble Supreme Court which after hearing the case, rendered inoperative the earlier order passed by CERC dated 15th April 2013 as also the order passed by ATE dated 21st July 2014. The Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under the Act and Clause 49 of the Listing Agreement with the Stock Exchanges.