Meja Urja Nigam Pvt Ltd

Welcome To

75th Meeting of MUNPL Board

Safety First 5S Must 06.09.2023
75.1.0: Leave of absence

Leave of absence, if any

75.1.1: Confirmation of minutes of 74th Board Meeting

Confirmation of Minutes of 74th Board Meeting

75.1.1: Confirmation of minutes of 74th Board Meeting

RESOLUTION

“Resolved that the Minutes of 74th Meeting of the Board of Directors held on 11th May
2023 be and are hereby noted and confirmed”.

Minutes of 74th Meeting

75.1.2: Additional Disclosure of Interest

Additional Disclosure of Interest

75.1.2: Additional Disclosure of Interest

RESOLUTION
7.1.3 CAG Comments on Annual Accounts of the Company for year ended 31st March’2023

Comptroller and Auditor General of India has conducted a supplementary audit of the financial statements of Meja
Urja Nigam Private Limited for the year ended 31 March 2023 under Section 143(6) (a) of the Companies
Act,2013 and one of the comments:

“ highlighted issue related to overstatement of “Cash & Cash Equivalent” and

understatement of “Other Bank Balances” by Rs.2.01 Crores” Being a matter related to
better understanding of financial statement and the audit related report they have issued
a Comment on the same.”

Para 7 of Ind AS-7 states that Cash equivalents are held for the purpose of meeting short-term cash commitments
rather than for investment or other purposes. Therefore, an investment normally qualifies as a cash equivalent only
when it has a short maturity of, say, three months or less from the date of acquisition.

It relates to presentation of Financial Statements and have no impact on revenue, expenditure or on total
asset/liabilities.

Company has given an assurance to take proper care while doing classification of Bank deposit based on
acquisition date.
 75.2 Agenda Items
1. Appointment of CEO
2. Approval of Closure of tender for procurement of Torrefied Biomass Pellets
3. Approval of Closure of tender for procurement of Non-torrefied Biomass Pellets
4. Review of existing Term Loan & Approval of fresh loan of Rs 642 Crores for RCE II of
MUNPL.
5. Approval of Allotment Equity shares to NTPC Ltd. & UPRVUNL
6. Appointment of Secretarial Auditor for the Financial Year 2022-23
7. Procurement of 1.25 LMT Imported Coal
8. Approval of CSR Policy of MUNPL
9. Approval of CSR Budget (RE 2023-24 & BE 2024-25)
10.Approval for Re appropriation of CD Budget
11. Approval of Investment Policy of surplus funds of MUNPL
12.Approval regarding MUNPL specific changes in Delegation of Powers as contained in Office
Order No. 482/2023 for handling contractual disputes at MUNPL
13. Approval of Dispute Resolution Framework of MUNPL
75.2.1

Appointment of Sh. Sunil Kumar as CEO,MUNPL

w.e.f. 03.07.2023
75.2.1 Appointment of CEO,MUNPL

• Sh. Sunil Kumar , Employee No. 00003868, joined as CEO,MUNPL on 03.07.2023

vide Office Order No. 0476/23-24.
75.2.1 Appointment of CEO,MUNPL

Resolution

“Resolved that the Appointment of Sh. Sunil Kumar, Employee No. 00003868 as
“

CEO,MUNPL with effect from 03.07.2023 be and is hereby approved”

75.2.2

Approval of Closure of tender for procurement of

Torrefied Biomass Pellets
75.2.2 Closure of tender for procurement of Torrefied Biomass Pellets

• Quantity : 12,97,958 MT .
• Approved Cost Estimate : INR 1082,93,82,777.20
• Basis of Cost Estimate: LOIs of NTPC Dadri, NTPC Unchahar and NTPC Tanda.
• Period of contract: Seven years
• Price Bid Opening Date: 21.12.22 (for Torrefied and Non-Torrefied Biomass Pellets)
• Seven bids received for Torrefied and Non-Torrefied Biomass Pellets. Six Bids found technically
suitable.
Quoted Price
• The Quoted Price of L-1 bidder M/s Beyond Drilling and Exploration Pvt Ltd was Rs 3410/- Per
MT/1000 Kcal,
• Estimated price for Torrefied Pellets is Rs. 2317.6/-per MT/1000 Kcal.
• The quoted price was 47.13% on higher side with respect to vetted estimate.
• The tender committee conducted 04 rounds of meeting with L1 bidder and the bidder reduced the
quoted price to Rs. 2600/- Per MT/1000 Kcal and refused to reduce the price further. The final rate
when compared with estimate is found to be 12.18% higher.
75.2.2 Closure of tender for procurement of Torrefied Biomass Pellets

• In line with tender condition, other participated bidders were also requested to match the L1 price to
be considered for award. 04 bidders consented to match the L1 price, and thus agreed for L1
negotiated price of Rs 2600/- Per MT/1000Kcal (inclusive of GST)
• The above proposal was recommended by Tender committee for approval.
• Meanwhile Ministry of Power issued notification vide ref no F. No.11/86/2017-Th. II (C. No.
238797) dated 16.06.2023. whereby Point 2(c) of the above stated notification stated that due to
lower availability of the torrefied biomass pellets in the market, those power plants which can use
non-torrefied pellets should utilize the same only. Hence TPPs having bowl mill will issue tenders
for Non-Torrefied Biomass Pellets only.
• In consonance with the aforesaid notification, since MUNPL Stage-I units have Bowl Type
mills, procurement of Torrefied biomass pellets may not be resorted to . Accordingly, the tender
committee has recommended for closure of the tender.
75.2.2 : Closure of tender for procurement of Torrefied Biomass Pellets

Resolution

“
“Resolved that the closure of the Tender (2022_MUNPL_133815_1, 2022_MUNPL_133816_1)
for procurement of Torrefied Biomass Pellets for MUNPL as detailed in background note be and is
hereby approved”

“Further resolved that CEO-MUNPL is hereby authorised to take further necessary action in the
above matter.”
75.2.3

Approval of Closure of tender for procurement of

Non-torrefied Biomass Pellets
75.2.3 Closure of tender for procurement of Non-torrefied Biomass Pellets

• Quantity : 12,97,958 MT.

• Approved Cost Estimate : INR 902,98,93,806.00
• Basis of Cost Estimate: LOIs of NTPC Dadri, NTPC Unchahar and NTPC Tanda.
• Period of contract: Seven years
• Price Bid Opening Date: 21.12.22 (for Torrefied and Non-Torrefied Biomass Pellets)
• Seven bids received for Torrefied and Non-Torrefied Biomass Pellets
Quoted Price
• The Quoted Price of L-1 bidder M/s Beyond Drilling and Exploration Pvt Ltd was Rs 2970/- Per
MT/1000 Kcal,
• Estimated price for Non-Torrefied Pellets is Rs. 1940/-per MT/1000 Kcal.
• The quoted price was 53.09% on higher side with respect to vetted estimate.
The tender committee has conducted meeting with L1 bidder on dated 18.05.2023 and the bidder reduced the
quoted price to Rs.2500/- Per MT/1000 Kcal and refused to reduce the price further. The final rate when
compared with estimate is found to be 28.86% higher. In view of the high price quoted by L1 bidder it is
proposed to close the Tender for “Procurement of Non-Torrefied Biomass Pellets for MUNPL”.
75.2.3 : Closure of tender for procurement of Non-torrefied Biomass Pellets

Resolution

“Resolved that the closure of the Tender (2022_MUNPL_133817_1) for procurement of Non-
“

Torrefied Biomass Pellets for MUNPL as detailed in background note be and is hereby approved”

“Further resolved that CEO-MUNPL is hereby authorised to take further necessary action in the
above matter.”
75.2.4

Review Of Existing Term Loan And Approval Of

Fresh Loan Of Rs. 642 Crores For Financing Debt
Portion Of Additional Expenditure Of Meja TPP
Stage-I.
75.2.4 Review of Existing Term Loan and Approval of Fresh Term loan

Present debt profile of MUNPL is as below: (Rs. In Crores)

Institution Amount Amount Outstandin Interest Rate Basis Present

Sanctioned Availed g balance Rate
PFC 6,608 6,608 5,397 3Y AAA plus 185 bps 7.87%
BoM 942 710 584 1M MCLR 8.10%
SBI Tokyo (ECB) 1,076 1,010 707 3%/5.17%/6M USD Libor plus 2.19%
198.5 bps
8,626 8,328 6,687
• All the term-loans were tied prior to Station CoD w.e.f 31.01.2021.
• Since then, there have been several positive developments including improvement of long Credit
Rating of the Company to CARE A-
• Interest reset for Rs.3960.56 Crores of loan outstanding from PFC is due w.e.f 15.10.2023.
• It is expected that it may get reset with an increment of 150 bps over present rate of 7.90 % p.a.
• In order to take necessary action in this regard necessary delegations are required for which draft
agenda is placed for consideration and approval of the Board.
75.2.4 Review of Existing Term Loan and Approval of Fresh Term loan

RCE-II approved estimated cost of Rs.13,092.99 Crores from Rs.12176.28 Crores.

As per the board resolution, additional 30% Equity requirement of enhanced cost is to be met out of internal
accruals.

Keeping in view the cut off date of 31.01.2024 it is essentially required to have tie up for debt component to
the extent of Rs 641.70 Crores (Being 70% of incremental cost of Rs.916.71 Crores)

Necessary delegations are placed for consideration of the Board.

In addition, Board Resolution passed vide Item No. 59.2.6 & Item No. 63.2.4 respectively in 59th and 63rd
meeting pertaining to above term loan and working Capital facility have restricted certain powers to be
exercised by “Head of Finance not below the level of General Manager”. However, with passage of time
Head of Finance at level of General Manager are not getting placed at MUNPL therefore, necessary
amendment in delegation is also proposed.
75.2.4 Review of Existing Term Loan and Approval of Fresh Term loan
Resolution
“Resolved that the CEO MUNPL and Head of Finance of MUNPL are delegated with powers to
negotiate interest rates and other terms and conditions, pertaining to outstanding portion of the loan
of Rs.6,608.00 Crores drawn from PFC and Rs.942 Crores of loan from Bank of Maharashtra
approved respectively in 43rd and 59th Meeting of Board of Directors held on 16.07.2017 and
10.09.2020.They are jointly authorised to approve any modification/amendments/alteration to the
terms and conditions of the said loan facility approved earlier by Board of Directors.

Further resolved that CEO MUNPL and Head of Finance of MUNPL are authorised to take necessary
action including refinancing of the outstanding portion of the referred domestic term loan based on
the financial benefits to the Company.

Further resolved that CEO MUNPL and Head of Finance of MUNPL are authorised to finalise
necessary tie up for term loan of Rs.642.00 Crores for financing debt portion of incremental cost of
Rs.916.71 Crores which is approved by Board of Directors of MUNPL in its 73 rd meeting held on 9th
March’23 wherein Revised Cost Estimate-II with estimated cost of Rs.13,092.99 Crores from
Rs.12,176.28 Crores have been approved.

…continued
75.2.4 Review of Existing Term Loan and Approval of Fresh Term loan
75.2.8 Review of Existing Term Loan and Approval of Fresh Term loan
Resolution
…continued

Further resolved that CEO MUNPL and Head of Finance of MUNPL be and are hereby jointly
authorized to finalize and approve the Loan Agreement, Deed of Hypothecation, Mortgage Deed, and
any other document/ deed / agreements for availing the aforesaid loan facility. However same is to
be placed for information of Board of Directors in subsequent board meeting.

Further resolved that wording “Head of Finance not below the level of General Manager” as
mentioned in Item No. 59.2.6 & Item No.63.2.4 approved by Board of Directors respectively in 59 th
and 63rd meeting shall stand replaced with words “Head of Finance” irrespective of his level and
designation.”
75.2.5

Allotment of Equity Shares To NTPC Ltd &

UPRVUNL
75.2.5 : Allotment of Equity Shares To NTPC Ltd & UPRVUNL

• For pre-feasibility studies for proposed Stage-II of MTPP Total Approval of Rs 3.00 Crores (Rs.1.50
Crores from each JV Partner)
Distinctive Nos.
Folio No. of
Name and Address
No. Shares From To

NTPC Limited
NTPC Bhawan, SCOPE Complex,
1. 5,75,000 3,58,37,99,601 3,58,43,74,600
7, Institutional Area Lodi Road,
New Delhi – 110 003

Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd

Shakti Bhawan Extension,
2. 5,75,000 3,58,43,74,601 3,58,49,49,600
14 Ashok Marg,
Lucknow 226001
75.2.5 : Allotment of Equity Shares To NTPC Ltd & UPRVUNL

Resolution

"Resolved that the proposal for equity allotment of 5,75,000 each to both the promoters , i.e. NTPC Ltd &
UPRVUNL submitted before the Board, be and is hereby approved.

‘Further resolved that CEO is hereby authorised to take other necessary actions in this regard."
75.2.6

Appointment of Secretarial Auditor for the Financial

Year 2022-23
 75.2.6 : Appointment of Secretarial Auditor

1. As per Section 204 of the Companies Act, 2013 a public company having paid-up share capital of Rs. 50
Crore or turnover of Rs. 250 Crore or more and every company having outstanding loans and
borrowings from banks and public financial institutions of Rs. 100 crore or more is required to obtain
‘Secretarial Audit Report’ from a company secretary in practice.
2. As per Section 204(1) of the Companies Act, 2013, a practicing company secretary can only be
appointed as Secretarial Auditor of the Company.
3. Section 179(3) read with Rule 8 of the Companies (Meetings of Board and its Powers) Rules, 2014
provides that the appointment of secretarial auditor shall be exercised by the Board of Directors only by
means of resolution passed at the meeting of the Board.
4. As per the Act, a Secretarial Auditor has to check compliance of applicable statutory provisions and the
adherence to good corporate practices by Meja Urja Nigam Private Limited including the Companies Act,
2013, rules made thereunder, Secretarial Standards issued by the ICSI and other laws as may be
applicable on the company.
 75.2.6 : Appointment of Secretarial Auditor

Profile of M/s A.K.Rastogi & Associates:

• Shri A.K.Rastogi, is a Practising Company Secretary.
• Has a rich experience of over 35 years in company law matters. He is working as counsultant in
various PSUs including NTPC, NHPC.
• He also worked in JAYPEE Group and NTPC Limited. He was working in NTPC Limited as
Executive Director & Company Secretary.
5. M/s A.K.Rastogi & Associates, Company Secretaries, vide its letter dated 24th April, 2023 has confirmed
their eligibility and given their consent to conduct secretarial audit of the Company for the financial year
2022-23.
75.2.6 : Appointment of Secretarial Auditor

Resolution

"Resolved that the proposal to appoint M/s A. K. Rastogi & Associates, Company Secretaries as Secretarial
Auditor of Meja Urja Nigam Private Limited to conduct the Secretarial Audit for the financial year 2022-23 in
compliance with the provisions of Section 204 (1) of the Companies Act, 2013 at a fee of Rs. 15,000/- plus
applicable taxes and as per the terms and conditions detailed in the memorandum submitted before the
Board, be and is hereby approved.

“Further resolved that CEO or any other officer be and is hereby authorised to issue necessary
appointment/engagement letter to M/s A. K. Rastogi & Associates, Company Secretaries and to take other
necessary actions in this regard."
75.2.7 : Procurement of 1.25 LMT Imported Coal

Proposal for Procurement of 1.25 LMT Imported Coal

75.2.7 : Approval for Procurement of 1.25 LMT Imported Coal

Brief of Requirement of Procurement:

Considering the high demand of power and deficiency in coal receipt from CIL and considering all
other coal sourcing options from various subsidiaries, it is considered appropriate to import coal to
bridge the demand and supply gap of coal requirement and to ensure the uninterrupted power supply to
the customer. Accordingly, MUNPL is to import 1.25 LMT on FOR-basis at MUNPL-Meja.
75.2.7 : Approval for Procurement of 1.25 LMT Imported Coal

Brief Detail of Cost Estimate & Tender Documents:

Quantity: 1.25 Lakh Metric Ton

Estimate: Rs. 184,06,23,662.50 (Excluding GST & GST Compensation

Tax)

Contract Period: Four (4) Months

Mode of Tendering: Open Tender (Single Stage Two Envelope) – International Competitive

Bidding Splitting: Not Applicable

Reverse-Auction: Not Applicable

Bid Security / EMD: Rs. 1,00,00,000.00 (Rupees One Crore only) or Equivalent Amount in US
75.2.7 : Approval for Procurement of 1.25 LMT Imported Coal
Brief of Qualifying Requirement
Who can be Bidder: Individual Firm or Consortium of maximum Three (3) Firms

Technical Experience: The bidder should have “Imported / exported & supplied” AND “have
handled, including port operations & loading for dispatch through Indian
Railways” respectively a minimum of 0.55 LMT of any dry bulk (solid)
commodity, like Coal, Iron ore, Fertilizers, Chemicals, Cement
etc. of origin other than India to any firm, in any continuous twelve (12)
months in one or multiple contracts during the preceding five (5) financial years
along with the current financial year up to date of Techno-Commercial Bid
Opening.
Financial Criteria: The Average Annual Turnover of the Bidder in the preceding three (3)
financial years as on the date of Techno-Commercial bid opening should
not be less than INR184.06 Crores (Indian Rupees One Hundred Eighty-Four
Crore and Six Lakh) or in equivalent foreign currency.

The Net Worth of the bidder should not be less than 100% of its paid up
share capital as on the last day of the preceding financial year on the date
75.2.7 : Approval for Procurement of 1.25 LMT Imported Coal

Resolution

"Resolved that the proposal for Technical & Administrative Approval along with
approval of NIT Documents including Terms & Conditions, EMD amount, Technical
Specifications, Cost Estimate and Qualifying Requirements for procurement of 1.25
LMT Imported Coal on FOR destination basis for a total estimated value of Rs
184,06,23,662.50 ( excluding GST & GST compensation cess ) for Meja TPP Stage-I
(2X660 MW) ,as detailed in background note be and is hereby approved.”
75.2.8

Approval of Corporate Social Responsibility (CSR)

Policy of MUNPL
 75.2.8 : Approval of CSR Policy of MUNPL

• The CSR committee of MUNPL in accordance with the provisions of sub-section 1 of Section 135 of the
Companies Act,2013 was re-constituted as approved during the 72nd Meeting of the Board of Directors
held on 30.12.2022.

• As per sub-section 4 (a) of Section 135, the Board of Directors of the Company, after considering the
recommendations of the CSR committee, shall approve the Corporate Social Responsibility Policy for the
Company and disclose contents of the policy in its report . The approved CSR policy should then be placed
on the Company's website.

• Accordingly, a draft CSR Policy of MUNPL was prepared. Certain modifications to the draft policy were
suggested by NTPC CC-CSR Group which were subsequently incorporated in our Policy. The modified
Policy of MUNPL was also confirmed by NTPC-CC-CSR group.

Proposed CSR Policy of MUNPL

75.2.8 : Approval of CSR Policy of MUNPL

Resolution

"“Resolved that the Corporate Social Responsibility (CSR) Policy of MUNPL,

governing the CSR activities of the Company be and is hereby approved.”
75.2.9

Approval of CSR Budget (RE FY 23-24 & BE FY 24-

25) of MUNPL
 75.2.9 : Approval of CSR Budget of MUNPL

• Sub-section 5 of Section 135 stipulates the Company to spend in every financial year, at least two per cent
of the average net profits of the Company made during the three immediately preceding financial years, in
pursuance of its CSR Policy.
• Accordingly, the applicable CSR Budget of MUNPL (R.E. for FY 2023-24 & B.E. for FY 2024-25) has
been computed as follows

YEAR NET YEAR NET PROFIT

PROFIT (in Lakhs)
(in Lakhs) 2021-22 27901.46
2020-21 6201.44
2022-23 9181.18
2021-22 27901.46 2023-24 (Projected) 32400.00*
2022-23 9181.18
Average Net Profit for past 03 years 23160.88
Average Net Profit for past 03 years 14428.02
CSR Budget B.E. for FY 2024-25 463.20
CSR Budget for R.E. FY 2023-24 288.56 (@ 2% of average net profit of last
(@ 2% of average net profit of last 03 03 financial years)
financial years)

* 90 % of estimated net profit of Rs. 36000 lacs

75.2.9 : Approval of CSR Budget of MUNPL

Resolution

“Resolved that the CSR Budget and proposed expenses under different CSR activities of MUNPL for
financial year RE 2023-24 and BE 2024-25 as detailed in background mode be and is hereby approved.

Further resolved that CEO, MUNPL may be authorized to take further necessary action in this regard
including addition/deletion/modification of activities within the overall budgetary limit and re-
appropriation of budget under different heads with a view to address strategic or emerging requirements”
75.2.10

Proposal For Re - appropriation of CD Budget of

MUNPL
75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL

CD BUDGET & EXPENDITURE

SN Particulars Value in Rs Crore

01 Approved CD Budget (As per RAP-I Dtd 03.05.2011 & 36.72
RAP - II Dtd 06.03.2012)
02 Utilized (2017 – 2022) 27.36
03 Final Utilization till 31.08.2023 32.37
04 Planned Works in 2023-24 / Work Under Progress 04.35

43
75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL

CD BUDGET & EXPENDITURE

Total in Rs
Budget Head
SN Crore
01 Infrastructure 7.07
02 Connectivity/Roads 13.54
03 Drinking Water 4.98
04 Miscellaneous 3.09
05 Welfare Activities 1.93
06 Restoration of Facilities 0.88
07 Sanitation 0.40
08 Capacity Building 0.48
Total Expenditure till 31.08.2023 32.37

44
75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL
Amount in Cr.
SN Budget Head Major Activities
(Approx.)
Construction of Roads (Interlocking/Bituminous ) at following villages
01 Connectivity/ Roads 1.71 (Jhariyahi, Kohdar, Mai Khurd, Bijoura, Salaiya Khurd, Esauta)

1. Construction of Solar based Mini Water Scheme: 12 out of 18 Units

02 Drinking Water 1.03 2. Supply & Installation of India Mark II handpumps: 03 out of 25 No
Construction of Classrooms and Workshop rooms at ITI, Naini
03 Infrastructure 0.48 Balance payment of Community Centers and other Contracts
Conducting medical camps, Rural sports, Distribution of Educational Kits
04 Welfare Activities 0.4 etc.

05 Sanitation 0.7 Construction of Individual Toilets in Villages (Lehdi and Amiliya Kala)
Skill Development Workshops: House Wiring & Tailoring
06 Capacity Building 0.01 Conducting SIES Study
Restoration of
07 Facilities 0.01 Supply and Installation of Solar Street Lights at associated villages.
08 Miscellaneous 0.01 Miscellaneous expenses for CD activities
4.35
45
 75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL
Budget as Budget Anticipated Final Re- appr Reasons for Re-appropriation
per RAP-I after 1st Re app Budget Utilization Sought
HEADS & II (1) incl. WIP
SN (2) (3) = 1-2
1st approved Re-
I CD Works *
appropriation
Construction Work Construction work was carried out where Gram
(Infra development & in Sabha/Govt. Land was available. Some projects had
I- A-1 self resettlement areas, to be dropped due to non-availability of GS/Govt.
1613 1200 730.32 -469.68
Educational Institutes, Land
Community Centers etc.)
Demands received for Construction of roads
(CC/Interlocking/Bituminous) in VDAC/Local
Connectivity (Approach meetings/Need Assessment Survey etc. Construction
I- A-2 739 1103 1507.13 +404.13
and internal roads) of roads has significantly improved connectivity of
the remote villages to outside areas.
More demand in this area due to the rocky
topography. Aligned more focus towards installation
Drinking Water (Hand
of Solar Based Sustainable Water System Units.
I-A-3 Pumps & 123
400 666.26 +266.26 Other than these handpumps/water coolers were also
Bore Well etc) installed. Ongoing work is being for Solar based
Water units.
46
( All figures in Rs Lakhs ) Continued…
 75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL
Budget as per Budget Anticipated Final Re- appr Reasons for Re-appropriation
RAP-I & II after 1st Re app Budget Sought
HEADS (In Lakh) Utilization incl.
SN WIP
(1) (3) = 1-2
(2)
Mobile Toilets/Toilets have been constructed
as per demands received. As per RAP Plan,
construction of drainages was not possible
I-A-4 Sanitation dur to unavailability of GS/Govt. land
231 250 48.81 -201.19
besides the Roads. Majority of the land
besides were private & agricultural in
nature.
Others - Demands for more Installation of Lights in
Restoration of certain pockets of nearby areas/villages.
I-A-5 community 174 28 90.89 +62.89 Hence, the sustainable Solar based Street
Lights were installed as per the requests
facilities as Solar from Gram Sabha/public representatives.
lights & other.
More demand in provisioning of better
Capacity Building Connectivity and setting up of Drinking
I-B (Training & 225 100 48.89 -51.11 Water units. Trainings were conducted as per
Exposure tours) the interests’ areas of the local youth. More
Focus will be given in CSR phase.
( All figures in Rs Lakhs ) Continued… 47
 75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL
…continued
Budget as Budget Anticipated Re- appr Reasons for Re-appropriation
SN per RAP-I after 1st Re app Final Budget Sought
HEADS & II (In Lakh) Utilization incl.
(1) WIP (3) = 1-2
(2)
Welfare Activities More expenditure due to request received from
(Health camps, Gram Sabha/District Administration for focused
I-C support to schools & 363 197 233.53 +36.53 health related initiatives, support to Specially
PH, Promotion abled people, Provisioning of Health ATM,
of sports, Culture) support to Disaster Management Fund, etc.
Relief work during Covid wave in collaboration
with District Administration/Red Cross Society
I-D Miscellaneous 110 300 311.17 +11.17 etc., health and sanitation initiatives for local
schools, blanket distribution, support to TB
patients etc. was done
Community Centre, roads, Mini Water Scheme
has been installed at Village Bijoura. Other tasks
II CD Works at Bijoura 94 94 35 -59 had been covered in other heads jointly for all
villages.
TOTAL (CD WORKS) 3672 3672 3672 0.00

( All figures in Rs Lakhs ) 48

75.2.10 : Approval of Re-appropriation of CD Budget of MUNPL

Resolution

“Resolved that the proposal for 2nd re-appropriation of budget heads within the approved budget of
Rehabilitation action plan ( RAP-I& II) as broadly detailed in the memorandum placed before the Board be
and is hereby approved.”

“Further resolved that CEO,MUNPL may be authorized to take further necessary action in the above matter”
75.2.11

Proposal for Approval of Investment Policy of surplus

funds of MUNPL
75.2.11 : Proposal for Approval Of Investment Policy
Statement of Cash flows is tabulated below: (Rs. In Crores)
Particulars 2022-23 2021-22
Opening cash & cash equivalents 157 386
Net Cash from Operating Activities 1034 1127
Net Cash Flow from Investing Activities -275 -304
Net Cash Flow from Financing Activities -863 -1051
Net increase/Decrease in Cash & Cash Equivalent -103 -228
Closing cash & cash equivalents 54 157

• During the year MUNPL has term loan repayment of Rs 835.77 Crores along with interest translating
to more than Rs.1200 Crores.
• In order to optimize returns on short term fund availability, it is proposed to have an investment policy
in routine course of business.
75.2.11 : Proposal for Approval Of Investment Policy

• Board of Directors in its 73rd Board Meeting held on 9th March’2023 desired to have a
comprehensive scheme for investment of surplus fund for MUNPL.

• A reference of the policies applicable in different JVs and as per DIPAM guidelines was drawn.

• A draft Policy which is in tandem with Policy applicable in NTPC is placed for consideration of the
Board.
75.2.11 : Proposal for Approval Of Investment Policy

Reference : Policies applicable to different JVs and DIPAM . A draft Policy in tandem with the guidelines
issued by DIPAM is placed for consideration of the Board.

Evaluation: The proposal for Investment of Surplus funds except in Corporate Linked term deposits
(CLTD’s)/ Auto sweep deposits shall be examined by any two out of four member of Internal Investment
Committee (IIC) consisting of Executives of Finance Department as approved by CEO.

Delegation: HOD(Finance) shall be the approving authority as far as investment of short-term surplus funds
for maturity up to one year. For administrative ease, HOD(Finance) will initially approve the investment
proposals of short-term surplus funds carrying maturity period of more than one year and ratified by Board of
Directors in subsequent meeting who shall be the approving authority for investment of short-term surplus
funds carrying maturity period of more than one year.

Reporting/ MIS:
All investments of surplus funds up to one-year maturity are to be reported to CEO on fortnightly basis.

A report on surplus funds invested in different instruments and the yield thereon may be placed before the
Board of Directors on annual basis for information.
75.2.11 : Proposal for Approval Of Investment Policy

Resolution
"Resolved that the proposed investment policy as annexed and placed before the board for investment of
surplus funds broadly in tandem with guidelines issued by Department of Investment and Public Asset
Management (DIPAM) be and is hereby approved.

‘Further resolved that CEO is hereby authorised to take other necessary actions in this regard."
75.2.12

Approval regarding MUNPL specific changes in

Delegation of Powers as contained in Office Order No.
482/2023 for handling contractual disputes at MUNPL
 75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes
Proposed Dispute Resolution DOP Levels in MUNPL Vs NTPC
NTPC HOP/BUH RED Headed Committee Group of Executive Board of
With Finance Committee of EDs Directors Committee on Directors through
with Finance Dispute Committee on
concurrence (ED- (Concerned Dispute Resolution
Concurrence Resolution (CoDR)
CC&M+ Func. Dir +
(ECDR) (One Ind Dir + Dir-
(RED+HOP+ ED-Engg Dir-HR
Ho Site C&M) +Resp RED +Dir-Fin) (CMD and Func Projs + Dir-Fin + and
Directors) Concerned Func
with Directors)
GM(Fin) as
Conc Auth)
MUNPL CEO CEO MUNPL Sub- MUNPL Board
MUNPL with Headed Committee
Finance Committee of MUNPL
concurrence with Finance
concurrence Board
(CEO + Ho Ind (CEO,
Deptt + Ho MUNPL +
C&M) 02
Directors)
 The following modifications are proposed vis-à-vis NTPC Ltd. Office Order No. 482/2023
SN Extant Structure at NTPC Ltd. Proposed Structure at MUNPL
A RED Headed Committee CEO Headed Committee
i) Powers to be exercised by RED Headed Committee for Powers of RED Headed Committee as stated in the
Corporate/Site/Region/USSCs awarded cases. prevalent DOP to be exercised by the CEO Headed
Committee in MUNPL.
ii) The composition of the RED headed Committee as per The composition of CEO Headed committee at MUNPL is
Clause 3(a) of Office Order No. 482/2023 dated 16.03.2023: proposed as hereunder:
1. RED as Chairman of the Committee 1. CEO, MUNPL, as Chairman of the Committee
2. Head of the Project 2. Head of the Indenting department not below the level of
3. Head of Site C&M AGM
Concurrence of finance executive at CPG-1 not below the 3. Head of C&M
level of AGM Concurrence of finance executive not below the level of
AGM
B Committee of EDs Sub - Committee of MUNPL Board (CEO, MUNPL + 02
Directors)

C Committee of Group of Directors, Executive Committee on MUNPL Board

Dispute Resolution and Board of Directors through
Committee on Dispute Resolution.
 75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes
SN Particular CEO with CEO Sub Committee MUNPL
Finance Headed of MUNPL Board
concurrence Committee Board
1 Approval for acceptance of recommendation Up to Rs. 5 crore Up to Rs 50 Up to Rs 100 Above Rs 100
of Conciliation Committee of Independent crore Crore Crore
Experts (CCIE)/ Independent External
Monitors (IEMs) (part/full) for settlement of
dispute and payment thereof to the contractor
2 Approval for acceptance of recommendation Up to Rs. 50 Lakh Up to Rs 1 Up to Rs 5 crore Above Rs 5
(part/full) of Expert Settlement Council crore Crore
(ESC) (with/without modification) for
settlement of dispute and payment thereof to
the contractor
3 a) Approval for acceptance of Up to Rs. 25 Lakh. Up to 50 Up to Rs 5 crore Above Rs 5
recommendation of Independent Engineer Lakh Crore
(IE) (part/full) for settlement of dispute and
payment thereof to the contractor
b) Settlement of dispute through Mutual
Consultation and payment thereof to the
contractor
 75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes

SN Particular CEO with CEO Sub Committee of MUNPL

Finance Headed MUNPL Board Board
concurrence Committee
4 In principle approval for withdrawal of
pending arbitration/court cases for referring CEO,MUNPL
the matter to CCIE/IEMs (As applicable)
5 Payment of 75% of Arbitral Award Amount to Up to 5 Up to Up to Above Rs 100
contractors as per Niti Aayog Guidelines. crore 50 crore Rs 100 crore Crore

6 Deposition of amounts in Court(s)/Payment to Up to 5 Up to Up to Above Rs 100

contractors, in compliance of court orders crore 50 crore Rs 100 crore Crore
7 Challenge to Arbitral Award/Acceptance of Up to 5 Up to Up to Above Rs 100
Arbitral Award and payment in respect thereof, crore 50 crore Rs 100 crore Crore
based on the opinion from the AGI/SGI/ASGI
in consultation with Department of legal
affairs (DoLA).
 75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes

SN Particular CEO with CEO Sub Committee of MUNPL

Finance Headed MUNPL Board Board
concurrence Committee
8 Challenge to Arbitral Award /Acceptance of Up to 1 Up to 10 crore Up to Rs 50 crore Above Rs 50
Arbitral Award and payment in respect thereof crore Crore
(Other than Construction Sector & NITI Aayog
cases where referral to DoLA and opinion of
AGI/SGI/ASGI is not applicable)
9 Proposal for invoking arbitration where CEO,MUNPL
MUNPL is a claimant
10 Approval for seeking opinion from the AGI/ CEO,MUNPL
SGI/ASGI in Consultation with DoLA for
setting aside Arbitral Award and Appeal
thereto.
11 Acceptance of Award issued by the Committee Up to Rs 5 Up to Rs 50 Up to Rs 100 crore Above Rs 100
of Secretaries at the first level (tier) under crore crore Crore
Administrative Mechanism for Resolution of
CPSEs Disputes (AMRCD) and release of
payment to the contractor
 75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes

S Particular CEO with CEO Headed Sub Committee MUNPL Board

N Finance Committee of MUNPL
concurrence Board
12 (a) Delegation for acceptance of award Up to Rs 1 Up to Rs 10 Up to Rs 50 Above Rs 50
passed by Adjudicator/ Dispute crore crore crore Crore
Resolution Board and payment thereof
Adjudicator/Dispute
Resolution Board
(b) Delegation for challenge of award CEO MUNPL
passedby Adjudicator/Dispute Resolution
Board
75.2.12 Approval of DOP Specific Changes to MUNPL for Handling
Disputes

Resolution

“Resolved that MUNPL specific changes in Delegation of Powers as contained

vide NTPC Office Order No. 482/2023 as proposed in the background note, be
and is hereby approved for adoption and implementation at MUNPL.”

“Further resolved that the nomination of members for constituting the Sub-
committee of MUNPL Board as proposed in the background note is effected.”
75.2.13

Approval of Dispute Resolution Framework of

MUNPL
75.2.13 Approval of Dispute Resolution Framework of MUNPL

• The dispute resolution procedure in NTPC Ltd is provided by Dispute Resolution Cell (DRC) vide
circular bearing Ref. No.: 01/CC/DRC/2019/01 dated 17.12.2019 and subsequent communications
regarding the same.
• As per NTPC DRC circular bearing Ref. No.: 01/CC/DRC/2022 dated 12.07.2022, for Site awarded
packages and Corporate awarded packages, there lie two 2-Tier Standing Committee Systems, i.e.,
• Site Level Committee & Regional Level Committee for Site awarded packages
• SRLC & Corporate Level Committee for Corporate awarded packages in NTPC.

• In case of MUNPL it is proposed that dispute resolution procedure for all packages shall be the same. A
two-tier Standing Committee System is proposed for the same:
• Tier-I Committee
• Tier-II Committee (Higher Level Committee)
 75.2.13 Two Tier Standing Committee System
Tier-I Committee: Review documents, examine the genuineness of Tier II Committee (Higher Level
the claims/counterclaims, and submit a preliminary assessment Committee): shall examine the dispute and
accompanying recommendations. peruse the necessary documents and
• Composition: Representatives from the Indenting Department, recommendations placed for its consideration
C&M, Finance and P&S (Convener) at the AGM level and a GM by the Tier I Committee and submit its
recommendations.
as the Chairman of the Committee nominated by the CEO.
• To examine the genuineness of the claims/counterclaims and the Composition: CEO (MUNPL) - Chairman
disputes raised under the contract. of the Committee.
• To collect and review the documents related to the disputes and Head of the Indenting department at the level
to ensure that all necessary documents are submitted on behalf of of GM.
MUNPL in the matter. Head of C&M at the level of GM.
• To deal with any other related matter as may be found necessary Head of Finance at the level of GM.
for the disputes raised/likely to be raised under the contract.
• To peruse the hindrance register maintained by EIC regarding the Law Officer of MUNPL shall be the
execution of the concerned contract. Convener of the Committee.
• To study the impact on MUNPL of the disputes raised in the NOTE : In case of non – availability of the
matter. executive at requisite level, CEO may nominate a
lower level executive
• To prepare and submit the preliminary assessment report
 75.2.3 Approval of Dispute Resolution Framework of MUNPL
75.2.13 Approval of Dispute Resolution Framework of MUNPL

IDENTIFICATION OF A DISPUTE

EIC DISCUSSION WITH AGENCY RESOLVED END

NOT
RESOLVED

TIER-1 COMMITTEE

HIGHER LEVEL COMMITTEE

LAW OFFICER IDENTIFIED FOR MUNPL TO

FORWARD HLC RECOMMENDATIONS
THROUGH EIC TO DRC (NTPC )FOR
REVIEW AND COMMENTS
Continued…
75.2.13 Approval of Dispute Resolution Framework of MUNPL

Continued…

CEO AS PER MUNPL

THE BOARD
PREVALEN
T
POLICY SUB
DOP COMMITTEE
OF MUNPL
FURTHER CEO HEADED BOARD ACCEPT/
NECESSARY COMMITTEE REJECT
ACTION

IF REJECTED , EIC TO TAKE FURTHER IF ACCEPTED

NECESSARY ACTION IN FORWARD TO EIC FOR
CONSULTATION WITH SITE LAW PAYMENT
75.2.13 Approval of Dispute Resolution Framework of MUNPL

Resolution

“Resolve dispute resolution framework of MUNPL, as proposed in the background note and
placed at Annexure 4, be and is hereby approved”
Information - Meja Stage – II

• As per MUNPL Board Approval 22.2.8, advance expenditure of Rs 300 lakh was approved for
site specific studies for Meja Stage – II (2x660 MW). Subsequently, NTPC and UPRVUNL also
accorded approval for release of advance payment for stage-II site specific studies and
preparation of FR.
• However, the enhanced capacity of Meja-II was approved at 3x800 MW by
D(Proj) NTPC in May 2023.
• Pre-Investment Approval studies are underway
• Draft Feasibility Report (FR) prepared by NTPC Engg and site comments have been
communicated.
• Finalization of the FR expected by end of September 2023. Thereafter the same shall be put up
for approval of MUNPL Board.

69
 Information – Meja Stage – II

S Description Status Remark

N
1 Land Available However additional land will be required for Dedicated
Freight Corridor UP line connectivity, ash pipeline and
contingency ash dyke.
2 Water Additional tie up for Stage Water availability study by WAPCOS in progress.
– II required
3 Coal Additional tie up for Stage To be taken up in the next Standing Linkage Committee
– II required (Long Term) meeting linkage for 3x800 MW Meja Stg-II.
4 Environment Application of TOR as per revised capacity prepared and is
Clearance under review with NTPC Envt Engg.
5 PPA Signed with UP and UK in Letter to be sent to beneficiaries for supplementary/fresh PPA
2011 for 2x660 MW. Re- by MUNPL. Letter drafting by NTPC Corp Commercial in
consent required progress.

70
Information – Meja Stage – II – Progress of Pre-IA Activities

SN Name of Investigation Agency Status

1 Geotechnical Investigation CEG Test House & Sample collection completed, testing in
Research Centre Pvt. Ltd.progress. Draft report by 11.09.23.
2 EIA Studies EQMS India Pvt. Ltd. Baseline data collection to be taken up
after monsoon from 01.10.2023.
3 Railway Siding Studies Drongo Advisory services i/p, report expected by Nov ‘23.
Pvt. Ltd.
4 Water availability WAPCOS Report submission by the agency
expected by 08.09.23.
5 Financial Appraisal Resurgent India Ltd. Work i/p. Agency will submit report
subject to CC-Finance Concurrence
6 Topography Precision Survey Agency Completed. Report submitted.

7 Survey for obtaining AAI Raj Technologies, Nashik Report as per 2x660 MW submitted.
clearance for chimney Team to visit for 3x800 MW from
07.09.23

71
Information - eOffice
Digital workplace platform “eOffice”, a product of National Informatic Centre has been launched at
MUNPL w.e.f. 10.07.2023.
Agency National Informatic Centre
Cloud Service Provider and RailTel India Ltd
Implementation Partner Data Centre: Gurugram DR: Hyderabad
Total Award Value Total Rs 1.60 Crore (approx.) for 5 Years period
Time Period Implementation schedule: 6 months. Actual implementation: less
than 4 months.
Total Contract Period incl Implementation: 5 years
Connectivity One Point-to-Point link from MUNPL to RailTel Gurugram, by
PGCL
Employee name and designation are automatically appended by the system at the time of initiating,
forwarding and approval and sending the files. Such electronic stamping is considered as signature of
initiator/forwarding/approving authority.
Information - Station Performance

Parameters Unit FY 2023-24 till Aug‘23 FY 2022-23 till Aug’22 FY 2022-23

Generation MU 3555.18 2262.75 7366.83
DC HDS % 84.01 53.90 53.90
DC LDS % 93.60 46.15 82.48
PLF % 73.35 46.68 63.71
Planned Outage % 0.0 42.26 17.71
FO Equip % 6.49 2.85 4.54
RSD % 0.74 0.0 1.85
PL Equip % 5.69 4.28 2.56
PL Grid % 13.88 3.82 9.68
APC (6.25) % 6.10 5.99 5.80
SWC (3) L/kWh 2.91 3.00 2.57
SOC (0.5) ml/kWh 0.44 0.62 0.55
 Information - Station Financial Performance
Particulars (Amt in Rs. Cr.) Aug-2023 Aug-2022 F.Y. 2023-24* F.Y. 2022-23
Energy Charges 1,084 632 2,605 2,167 Billing Up to July 23-24
Capacity Charges 787 783 1,888 1,879 : 1523 Cr.
Realization up to July
Under Recovery -6 -319 -6 -213
23-24 : 1678 Cr.
Other Adjustment 3 -8 3 -10
Debtors as on July 23-
Other Income 18 18 23 32
24 : 743 Cr.
Gross Revenue 1,886 1,106 4,514 3,854
Fuel Cost 1,147 658 2,615 2,272
Emp Cost 41 38 120 109
Repair & Maintenance Cost 45 44 140 120
Other Station Overheads 29 23 80 69
Depreciation 251 248 603 603
Finance Cost (including ERV) 230 239 552 599
Total Cost 1,743 1,250 4,110 3,772
Profit Before Tax (PBT) 143 -144 404 82
Tax Expenses (Deferred Tax) 32 - 32 -75
Profit After Tax (PAT) 111 -144 372 157
Regulatory Deferred As per CERC 19 -12 19 -71
PAT (AFTER RDB) 130 -156 391 86
*Projection based on
Marginal Contribution Loss -63 -26 -10 -106
targeted physical
EBITDA 624 345 1558 1284
parameters
 Information – Performance Highlights

• Unit -2 Achieved longest ever continuous on bar running days of 120.13 Days on 26th May 2023.
Previous longest running was 96.33 Days from 21.10.22 to 25.01.23

• Unit -2 Achieved highest ever daily PLF of 104.419 % (16.54 MU) on 31.08.2023, surpassing
previous highest daily PLF of 104.16% (16.50 MU) on 29.08.2023

• UNIT-2 achieved more than 100 % day PLF 11 times in the month May-August’23

• 0.64 MU of J&K regulated power traded in power exchange @7.76 Rs/Unit

• Ever lowest time to unload BOXN type Rake achieved in 2.05 Hours.

• DFA Silos all equipments erection work completed.

Information – Performance Highlights

• Surge Settling system erection and commissioning done.

• FGD UNIT-2: Both booster fans coupled trial completed.

• PG test of Unit-2 TG, ESP, CT-2, CPU-1 and CHP (except WT-1/2) completed

• O&M store building inaugurated on 26.06.2023

• Highest ever CCL FSA realization of 102% (2,14,193 MT) in the month of July’23.

• Installation and calibration of IMWB (In Motion Weigh Bridge) 3 & 4 near MGR Workshop to
enhance redundancy.
Title goes here

Thank You
75.2.12

Basic Pay Re-fixation of the Non-Executives of

MUNPL cadre
75.2.12 Basic Pay Re-fixation of the Non-Executives of MUNPL cadre

• DT (Diploma Trainees) -2018 batch was recruited on the rolls of MUNPL through offer of appointment
issued to them in April 2019.
• They were elected from the existing panel of candidates available with NTPC, NRHQ against
advertisement no. 01/2018.
• The advertisement had projected vacancies were for Singrauli, Rihand, Unchahar, Tanda and
Vindhyachal stations under the Northern Region of NTPC Ltd.
• It was also mentioned thereby that the selected candidates shall undergo 02 years training and will be paid
a consolidated stipend of Rs. 15,500/- per month. On successful completion of training, these candidates
will be absorbed in the pre-revised pay scale of Rs. 15,500 – 3% - 34,500 (W7 grade). The wage
revision is due w.e.f. 01.01.2017.
• The offer of appointment to the DTs was issued by MUNPL and they joined in April 2019 at a stipend of
Rs. 24,000/- per month. After completion of 02 years of training, they were regularized at NE-7 grade in
April 2021 at a Basic Pay of Rs. 24,000/- per month (which was the same as the prevailing W7 grade pay-
scale of NTPC) + IDA + Cafeteria Allowance (35%).
75.2.12 Basic Pay Re-fixation of the Non-Executives of MUNPL cadre

Recent Developments in NTPC

• Protection of Basic Pay of DTs/ATS, who had joined/got regularized in NTPC after 27.09.2018
(i.e., the date of signing the Wage Revision MOU in NBC) but for whom the Recruitment
Advertisements were issued before 01.02.2019 (i.e., the date of issuance of NTPC Pay Revision
Circular for Workmen) and whose Basic Pay was fixed at minimum of revised pay-scales of
concerned grades, has been done as a one-time special dispensation.
• In the case of the DTs of MUNPL, the advertisement was issued (by NTPC) in November 2018 (i.e.,
before 01.02.2019) and they were regularized in April 2021 (i.e. after 27.09.2018), and their Basic
Pay was fixed at Rs. 24,000/- per month (i.e. minimum of the pay-scale of the concerned grade).
• Revised Basic Pay plus DA as on their respective date of regularization of DTs of NTPC has been
fixed as the sum of the Basic Pay in the pre-revised pay scales (i.e., Rs. 15,500/- for DTs) plus
DA in the pre-revised pay scales (as on their date of regularization).
75.2.12 Basic Pay Re-fixation of the Non-Executives of MUNPL cadre

Justification
• DTs of MUNPL had applied against the advertisement no. 01/2018 issued by NTPC Ltd. where it was
stipulated that the candidates shall be absorbed in the pre-revised pay scale of Rs. 15,500 – 3% - 34,500
(W7 grade), with the additional information that wage revision is due w.e.f. 01.01.2017.
• Any benefit associated with wage revision/ pay fixation extended recruited during the window between
27.09.2018 and 01.02.2019, may be principally adopted by MUNPL for its own DTs.
• Non-executives have submitted multiple requests for re-fixation of their Basic Pay, and issue also
discussed in various Interaction Meetings at HOP and Chairman level.
• Similar pay refixation benefit has also been already extended at other subsidiaries/ JVs of NTPC like
BRBCL.
• Non-executives are permanent on-roll employees of MUNPL. It may be prudent to keep their morale
high for the future growth of MUNPL, with Stage-II, Obra-D and Anpara-D projects in the pipeline.
75.2.12 Basic Pay Re-fixation of the Non-Executives of MUNPL cadre

Financial Implication

• Basic Pay at the time of regularization in April 2021 (Rs. 24,000/- per month) shall be re-fixed at Rs.
34,032/- per month.
• The arrears payable for the period April 2021 – September 2023 per employee shall be Rs. 5.14
lacs.
• The cumulative arrears payable for the above period for 18 nos. of non-executives shall be Rs. 92.
52 lacs.
75.2.12 Basic Pay Re-fixation of the Non-Executives of MUNPL cadre

Resolution

“Resolved that the Board Note for Re-fixation of Basic Pay for the non-executive employees of
MUNPL, as proposed at Para no. (18) – (22) of the Board Memorandum, be and is hereby
approved.”

“Further resolved that CEO, MUNPL may be authorized to take further necessary action in this
regard.”
75.2.13

Superannuation Benefits for the Non-Executives of

MUNPL cadre
 75.2.13 Superannuation Benefits for the Non-Executives of MUNPL cadre
• Superannuation Benefits consist of Provident Fund (PF), Pension, Gratuity and Post Retirement Medical
Benefits (PRMB).

• As per DPE O.M. dated 26-11-2008, CPSEs are allowed to contribute 30% of Basic Pay as Superannuation
Benefits, i.r.o. of their executives and non-unionized supervisors.

• CPSEs like NTPC, POWERGRID, IOCL, etc. have adopted the same distribution of contribution towards
extending superannuation benefits to their non-executives.

• Statutory components of Superannuation Benefits already implemented at MUNPL w.e.f. regularization of

non-executives in April 2021:
• Provident Fund: Employee (12%) + Employer (13%) contribution of wages (Basic Pay + D.A.) being
deposited every month with EPFO, Prayagraj under the Employees Provident Fund & Miscellaneous
Provisions Act, 1952.
• Gratuity: 4.81% of wages (Basic Pay + DA) under the Payment of Gratuity Act, 1972. Group Gratuity
Policy has been obtained from The Life Insurance Corporation of India.

• Efforts to obtain suitable Post Retirement Medical Benefits Policy from reputed insurance agencies did not
bear fruit owing to small employee strength, very young age & long time left for superannuation.
75.2.13 Superannuation Benefits for the Non-Executives of MUNPL cadre
Pension Contribution by various CPSEs:

Organization Pension Contribution by Employer

NTPC 9%
HAL 7%
MECON 10%
Average pension contribution among
BCPL 9.2%
peer organizations comes to around
NALCO 9.19%
9%.
POWERGRID 9%
Coal India Ltd. 6.99%
BEML 7%

Proposal: National Pension Scheme (NPS) contribution for non-executives of MUNPL proposed at 8.5% of
Wages ( B.P.+ D.A) to be effective from the month following date of approval by the Board of Directors.
75.2.13 Superannuation Benefits for the Non-Executives of MUNPL cadre

Resolution

“Resolved that the Board Note for Superannuation Benefits for the non-executive employees of
MUNPL, as proposed at Para no. 7 (i) & (ii) of the Board Memorandum, be and is hereby
approved.”
“Further resolved that CEO, MUNPL may be authorized to take further necessary action in this
regard, including approval of modalities for making contribution towards the identified
superannuation benefits schemes and modification in the contributions thereof as per requirement.”

“Further resolved that the superannuation benefits for the non-executives as proposed at Para no. 7
(i) & (ii) of the Board Memorandum would be subject to review every year with approval of
CEO,MUNPL with Finance concurrence”