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HISTORY AND CERTAIN CORPORATE MATTERSOur Company was incorporated as National Thermal Power CorporationPrivate Limited a private limited company 100% owned by Government ofIndia on November 7 1975 under the Companies Act. The word `private'was deleted on September 30 1976 and the name of the Company becameNational Thermal Power Corporation Limited. Pursuant to the resolutionof our shareholders in a general meeting held on September 30 1985our Company was converted from a private limited company to a publiclimited company in accordance with the provisions of the Companies Act.In July 1976 the registered office of our Company was changed fromShram Shakti Bhawan New Delhi to Kailash Building Kasturha GandhiMarg New Delhi; subsequently in May 1979 to NTPC Square 62-63 NehruPlace New Delhi and thereupon in October 1988 to the presentRegistered Office.Major Events:Year Event1975 * Incorporation of NTPC.1978 * Takeover of management of the Badarpur project.1982 * The first 200MW unit at Singrauli is commissioned. * The first direct foreign currency borrowing for NTPC- a consortium of foreign banks led by Standard Chartered Merchant Bank extends a loan of GBP 298.41 million for the Rihand project * NTPC establishes a center for education at Power Management Institute Delhi.1984 * The transmission line cased on HVDC (High Voltage Direct Current) technology commissioned for power transmission from Rihand to Delhi. * Singrauli project receives World Bank loan of Rs. 150 million USD through Government of India.1986 * NTPC synchronizes its first 500MW unit at Singrauli. * NTPC becomes one of the first PSUs to issue bonds in the debt market.1987 * NTPC crosses the 5000 MW installed capacity mark.1988 * NTPC raises first syndicated Japanese loan of 30 billion JPY1989 * Consultancy division of NTPC is launched * First unit (88 MW) of NTPC's first gas based combined cycle power plant at Anta Rajasthan commissioned.1990 * NTPC builds up a total installed capacity of 10000 MW.1992 * First acquisition by NTPC of Feroze Gandhi Unchahar Thermal Power Station (2x210MW) from Uttar Pradesh Rajya Vidyut Utpadan Nigam of Ultar Pradesh. * Pursuant to legislation by the Parliament of India the transmission systems owned by our Company was transferred to Power Grid Corporation of India Limited.1993 * For the first time IBRD extends direct loan of USD 400 million to NTPC under time slice concept for its projects1994 * NTPC achieves 15000 MW of installed capacity. * NTPC declares a dividend for the first time of Rs. 650 million. * Jhanor-Gandhar (Gujarat) becomes the first thermal power station in NTPC to have commissioned an integrated Liquid Waste Treatment Plant (LWTP).1997 * NTPC was identified by the GoI as one of the Navratna public sector undertakings. * Achieves 100 billion units generation in one year. * A consortium of foreign banks led by Sumitomo Bank. Hong Kong extends foreign currency loan of 5 billion Japanese Yen for the first time without GOI guarantee.1998 * Commissioned the first Naphtha based plant at Kayamkulam with a capacity of 350MW.1999 * NTPC's Dadri thermal power project Uttar Pradesh adjudged the best in India with a PLF of 96.12%. Dadri Uttar Pradesh certified with ISO-14001 on October 7 1999.2000 * NTPC takes up construction of a hydro-electric power project of 800MW capacity in Himachal Pradesh.2002 * Three wholly owned subsidiaries of NTPC viz. NTPC Electric Supply Company Limited. NTPC Hydro Limited and NTPC Vidyut Vyapar Nigam Limited were incorporated. * NTPC sets up ESP (Electrostatic precipitators) at Talcher STPP. * NTPC exceeds the 20000 MW installed capacity mark.2003 * NTPC undertakes debt re-structuring. Raises funds through bonds (Series XIIIth & XIVth) for prepayment of high cost GOI loans.2004 * The award of contract for the first Super Critical Thermal Power Plant at Sipat. * Reached a total installed capacity of 22249 MW with the recent Talcher Unit V getting synchronized on May 13 2004. * NTPC Feroze Gandhi Unchahar Thermal station achieves a record PLF of 87.43% in current year up from 18.02% in February 92 when it was taken over by NTPC. * LIC extends credit facility for Rs. 70 billion. Rs. 40 billion is in the form of unsecured loans and Rs. 30 billion in the form of bonds. * NTPC makes its debut issue of euro bonds amounting to USD 200 million in the international marketOur Corporate StructureWe propose to convert Pipavav Power Development Company Limited into ajoint venture company and have entered into a memorandum ofunderstanding on February 20 2004 with the Gujarat Power CorporationLimited and Gujarat Electricity Board for setting up of the powerproject through this joint venture company.In addition to the above we have entered into memorandum ofunderstandings with Bharat Heavy Electricals Limited Ministry ofRailways Rural Electrification Corporation Limited for the setting upof joint ventures. However none of these joint ventures have been setup as yet.