In 1980 the Rajadhyaksha Committee on Power Sector Reforms submitted
 its report to the GoI 
 suggesting extensive reforms in the Indian power sector. Based on the
 recommendations of the 
 Rajadhyaksha Committee, in 1981 the GoI took the policy decision to
 form a national power grid  which would pave the way for the
 integrated operation of the central and regional transmission 
 systems. Pursuant to this decision to form a national power grid, our
 Company was incorporated on October 23, 1989 under the Companies Act,
 1956 as ‘National Power Transmission Corporation Limited’, with the
 responsibility of planning, executing, owning, operating and
 maintaining the high voltage transmission systems in the country. We
 received a certificate for commencement of business on November 8,
 1990.  The name of our Company was changed to its present name ‘Power
 Grid Corporation of India Limited’ and a fresh certificate of
 incorporation was issued on October 23, 1992. The name of our Company
 was changed to its present name from ‘National Power Transmission
 Corporation Limited’ as its then abbreviated form, ‘NPTC Limited’,
 had close resemblance to another existing company, namely, NTPC
 Limited (NTPC).  
  
 As on September 30, 2010, the total number of holders of Equity
 Shares of our Company is 792,096. Our Company is presently listed on
 the BSE and the NSE.  Our Company is not operating under any
 injunction or restraining order. Transfer of transmission assets from
 generating units Initially, our Company was engaged in the management
 of the transmission assets owned by the  central generating companies
 such as the NTPC, NHPC Limited (NHPC) and North-Eastern  Electric
 Power Corporation Limited. In January 1993, the National Thermal
 Power Corporation Limited, the National Hydro Electric Power
 Corporation Limited and the North-Eastern Electric Power Corporation
 Limited (Acquisition and Transfer of Power Transmission Systems)
 Ordinance, 1993 (Power Transmission Systems Ordinance) was enacted
 pursuant to which the right, title and interest of these three power
 generating companies in relation to the power transmission system,
 comprising the main transmission lines, including the extra high
 voltage alternative current  transmission lines and the HVDC lines,
 and sub-stations, owned by them, were acquired by the GoI and
 transferred to our Company, with effect from April 1, 1992. Under the
 Power Transmission Systems Ordinance, our Company acquired all the 
 rights, liabilities, assets, leaseholds, powers, authorities and
 privileges and all movable and immovable property relating to the
 power transmission systems owned by the three generating companies.
 The Power Transmission Systems Ordinance also 
 provided that all employees of  the three generating companies who
 were associated with power transmission systems would be deemed to be
 the employees of our Company. In April 1993, the Power Transmission
 System Ordinance became a statute after receiving the assent of the
 President of India.  
 
 Transmission assets of Neyveli Lignite Corporation Limited were taken
 over by our Company with effect from April 1992 under the Neyveli
 Lignite Corporation Limited (Acquisition and Transfer of Power
 Transmission System) Act, 1994. The transmission assets of Nuclear
 Power Corporation Limited and Tehri Hydro Development Corporation
 Limited have also been transferred to our Company with effect from
 April 1991 and August 1993, respectively, pursuant to memorandum of
 understandings executed with our Company.  
 
 National and Regional Load Despatch Functions 
  
 In 1994, the GoI entrusted our Company with the further
 responsibility of controlling the existing load despatch centres in
 the country with a view to achieve better grid management and
 operation.  Pursuant to this decision, the control of the five
 regional load despatch and communication centres  was transferred to
 our Company in a phased manner between 1994 and 1996. Our Company has
  undertaken the ULDC and communication project (ULDC Project) under
 which modernized load  despatch facilities have been established in
 each of the five regional centres. The implementation of  the ULDC
 Project has, amongst other things, caused the reduction of grid
 disturbances, improved grid  reliability and facilitated the
 effective implementation of availability based tariff. On February
 25, 2009, the NLDC was inaugurated. The NLDC is responsible for
 monitoring the operations and grid  security of the national grid and
 supervises the  scheduling and despatch of electricity over inter-
 regional lines in coordination with the RLDCs. Our wholly-owned
 subsidiary, POSOCO, was  established in March 2009 to oversee the
 grid management function of our operations and  commenced operations
 in March 2010. We are in the process of transferring the movable
 assets of our  power system operations segment to our subsidiary with
 effect from October 1, 2010.  
 
 Designation as the CTU  
  
 Our Company was notified as the Central Transmission Utility by the
 GoI on December 31, 1998. We  continue to be the CTU under the
 Electricity Act as per the notification issued by the GoI on November
 27, 2003. Amongst other functions, as CTU we are required to (a)
 undertake transmission of electricity through the inter-state
 transmission system; (b) discharge all functions of planning and
 co-ordination relating to inter-state transmission systems, with
 certain specified authorities and stakeholders; (c) ensure
 development of an efficient, coordinated and economical system of
 inter-state transmission lines for smooth flow of electricity from
 generating stations to load centres; and (d) provide
 non-discriminatory open access to its transmission system for use by
 any licensee or generating company on payment of transmission charges
 and to any consumer on payment of transmission charges and a surcharge
 thereon in accordance with the Electricity Act. 
  
 Under the Electricity Act, the CTU is required to undertake the
 functions of the RLDC and we are 
 therefore responsible for (a) optimum scheduling and  despatch of
 electricity within the region, in accordance with the contracts
 entered into with the licensees or the generating companies operating
 in the region; (b) monitor grid operations; (c) keep accounts of
 quantity of electricity transmitted through the regional grid; (d)
 exercise supervision and control over the inter-state transmission
 system; and (e) carrying out real time operations for grid control
 and despatch of electricity within the region through secure and
 economic operation of the regional grid  in accordance with the grid
 standards and grid code.  
  
 However, the National Electricity Policy states that the existing
 arrangement of CTU operating the  RLDCs will be reviewed by the GoI
 based on the experience of working with the existing 
 arrangement.  
   
 Navratna Company 
  
 On May 1, 2008, our Company was notified as a Navratna company by the
 GoI, through notification  (DPE OM No. 26(3)/2005-GM-GL-92). As a
 Navratna company, we are eligible for enhanced delegation of powers
 to our Board, including (a) power to incur capital expenditure
 without governmental approval; (b) ceiling on equity investment to
 establish financial joint ventures and wholly owned subsidiaries in
 India or abroad will be 15% of the net worth of our Company in one
 project limited to  ` 10,000 million and the overall ceiling on such
 investments in all projects put together will be 30% of the net worth
 of our Company; (c) power to enter into merger and acquisitions
 subject to certain conditions; and (d)  the Board has the power to
 further delegate the powers relating to human resource management
 (appointments, transfers, postings etc,) of below Board level
 executives to sub-committees of the Board or to executives of our
 Company as may be  decided by the Board.  
  
 Role in distribution reforms and rural electrification 
  
 In 2001, our Company was assigned the role of an
 advisor-cum-consultant, by the GoI, for 
 implementation of the APDRP in 18 states in India. The objective of
 the APDRP is to give impetus to reforms in the power distribution
 sector and the responsibility of our Company extends to providing
 assistance to SPUs in formulation of DPR, to technically examine the
 DPRs and recommend them to the MoP and to monitor the implementation
 of the schemes, the commercial performance and reform measures
 undertaken by the SPUs in the assigned geographical areas. We
 undertook the implementation of distribution improvement schemes  in
 the states of Bihar, Uttar Pradesh, Goa, Gujarat, Tripura and
 Meghalaya on a deposit work basis. Our participation in APDRP
 concluded in March 2009.  
 
 
 
 Major events 
  
 In addition to events described hereinabove, the  following table
 illustrates the major events in the history of our Company since its
 incorporation in 1989.  
 
 1989  
 Our Company was incorporated as ‘National Power Transmission
 Corporation Limited’. 
 
 1991
 Transmission assets from Nuclear Power Corporation Limited were
 transferred to our Company 
 pursuant to a memorandum of understanding executed between the
 parties. 
 
 1992 
 Transmission assets from NTPC, NHPC and North-Eastern Electric Power
 Corporation Limited 
 were transferred to our Company pursuant to legislation promulgated
 by the Parliament.  
 
 The name of our Company was changed from ‘National Power Transmission
 Corporation 
 Limited’ to ‘Power Grid Corporation of India Limited’. 
 
 1993  
 Transmission assets of Tehri Hydro Development Corporation Limited
 were transferred to our 
 Company pursuant to a memorandum of understanding executed between
 the parties. 
 
 1994 
 Our Company took over the management of the Southern Regional Load
 Despatch Centre. 
 
 Our Company entered into a memorandum of understanding with the MoP,
 which is revised 
 annually. We achieved the highest rating of ‘Excellent’ under the
 memorandum of understanding. Transmission assets from Neyveli Lignite
 Corporation Limited were transferred to our Company pursuant to
 legislation promulgated by the Parliament. 
 
 1995
 Our Company took over the management of the Eastern Regional Load
 Despatch Centre and the North Eastern Load Despatch Centre. 
 
 1996
 Our Company took over the management of the remaining two regional
 load despatch centres, 
 namely, the Northern Regional Load Despatch Centre and the Western
 Load Despatch Centre. 
 
 1998  
 Our Company formulated an Environment and Social Policy and
 Procedures Code to deal with 
 environmental and social issues relating to its transmission
 projects.  
 
 Our Company was formally notified as a CTU by the GoI.
 
 Our Company was declared as a Mini Ratna Category I public sector
 undertaking by the GoI. 
 
 2001  
 Our Company was granted Infrastructure Provider II license (IP II)
 from the Department of 
 
 Telecommunications, GoI to pursue leasing of bandwidth capacity to
 various customers on its 
 telecommunications network. 
 
 2002 
 The unified load despatch and communications schemes for the northern
 and southern regions 
 were commissioned. 
 
 Our Company was appointed as the Advisor-cum-Consultant under the
 APDRP by the MoP for 
 power sector reforms. 
 
 The Sasaram HVDC back to back transmission system developed by our
 Company was 
 commissioned leading to the completion of the first phase of the
 construction of the National Grid. 
 
 The 2,000 MW Talchar-Kolar bipolar HVDC link developed by our Company
 was commissioned. 
 
 2003  
 Our Company entered into a joint venture arrangement with The Tata
 Power Company Limited 
 implementing a part of the entire transmission system associated with
 Tala Hydro-Electric Project  which was the first public-private sector
 initiative in the transmission sector. 
 
 The 400 KV Raipur-Rourkela line transmission line developed by our
 Company was 
 commissioned and the Western region, Eastern Region and North-Eastern
 Region begin operating  in a synchronized manner with a cumulative
 capacity of 50,000 MW. 
 
 Our Company secured its first international consultancy contract from
 Bhutan 
 Telecommunications. 
 
 2005  
 The unified load despatch and communications scheme for the eastern
 region was commissioned. 
 
 2006  
 The unified load despatch and communications scheme for the western
 region was commissioned. 
 
 Our Company entered into an agreement with REC and certain state
 governments and state 
 utilities for undertaking rural electrification works under the Rajiv
 Gandhi Grameen Vidyutikaran 
 Yojana in nine states in India. 
 
 2007 
 Dedication of transmission system associated with Tala Hydro-Electric
 Project which was the first  public-private sector initiative in the
 transmission sector by the Prime Minister Dr. Manmohan  Singh.
 Listing of our Equity Shares on the Stock Exchanges. 
 
 2008  
 Our Company was declared as a Navratna public sector undertaking by
 the GoI.  
 
 The 220 KV Double Circuit Transmission line from Pul-e-Khumri to
 Kabul Transmission System 
 in Afghanistan was completed.  
 
 2009  
 The National Load Despatch Centre was established.  
 
 Our Subsidiary, Power System Operation Corporation Limited, was
 incorporated 
 
 Our Company was mentioned as the world’s third largest transmission
 utility by a news release 
 issued by the World Bank 
 
 2010 
 Our Company was selected as a consortium member to implement the
 National Knowledge 
 Network Project, a telecommunication infrastructure project.  
 
 Commissioning of the commercial operations of the National Load
 Despatch Centre.  
 
 Commissioning of the 220/110/20 KV Chimtala sub-station at Kabul,
 Afghanistan.  
 
 2011 
 Our Company entered into an MoU with Jamia Millia Islamia University
 for the training and 
 certification of its System Operators in Supervisory Control And Data
 Acquisition (SCADA) 
 technology.  
 
 Certifications, Awards and Recognitions
 
 1993-1994 to present 
 
 Our Company has received the ‘Excellent’ rating under the memorandum
 of  understanding with the MoP since 1993-1994. 
 
 1998-2001  and  
 Our Company was awarded the MoU Excellence Award.  2003-08 
 
 2000-2001  
 
 Our Company was awarded the Indo-German Greentech Environment
 Excellence 
 Award for implementation of Environment and Social Policy and
 Procedures and green 
 belt development. 
 
 2004  
 Our Company was awarded the Golden Peacock National Quality Award
 (Runners Up) 
 in relation to quality standards. 
 
 Our Company was certified to operate an integrated management system
 which  complies with the requirements of BS EN ISO 9001:2000, BS EN
 ISO 14001:1996 and  OHSAS 18001:1999 standards in relation to
 quality, environment and occupational  health and safety standards
 respectively with respect to design, engineering,  procurement,
 construction, operation and maintenance activities for transmission 
 systems up to 800 KV, HVDC, Supervisory Control and Data Acquisition
 (SCADA),  Energy Management Systems and Communication Projects. 
 
 2006  
 Our Company was awarded the Green Award 2006 by the World Bank with
 respect to  the Powergrid System Development Project II for
 commitment in the field of  environmental sustainability.  
 
 The Eastern and North Eastern region of our Company were awarded the
 prize for the  best transmission system availability under Category I
 and Category II, respectively for  the year 2004-05.  
 
 2007  
 Our Company was certified for PAS 99:2006 integrating the requirement
 of ISO  9001:2000 for quality, ISO 14001:2004 for environment
 management and OHSAS  18000:1999 for health and safety management
 systems. 
 
 2008  
 Our Company was recognised for its meritorious performance by the MoP
 for the year  2006-07 and won a Gold Shield for the 132KV transmission
 system in the North  Eastern region and a Silver Shield for the 220KV
 and 400KV transmission system in  the Western region.  
 
 2009  
 Our Company was awarded First Prize at IEEMA Power Awards 2009
 ceremony for  ‘Excellence in Power Transmission’ by NDTV Profit. 
 
 Our Company was recognised for its meritorious performance by the MoP
 for the year  2007-08 and won a Gold Shield for the transmission
 system at North Eastern region, a  Silver Shield for the transmission
 system at the Western region and a Silver Shield for  the early
 completion of the transmission project in Southern region I.   
 
 Our Company was awarded the All India Organization of Employers
 Industrial  Relations Award 2007-08 by the Ministry of Labour, GoI. 
 
 
 Our Company was awarded ‘Gold’ trophy under the institutional
 category in SCOPE  excellence awards for the year 2008-2009.  
 
 Our Company was awarded the ‘Star’ Public Sector Company Award for
 2007-08 by  Business Standard.  
 
 Our Company was awarded the Overall Utility Performance in
 Transmission Segment  Award for 2008-09 by KW Conferences in
 association with Council of Power Utilities.   Our Company was
 featured in the list of top 250 global energy companies compiled by 
 Platts, a leading provider of energy and commodities information. Our
 Company was  also named amongst the fastest growing global energy
 companies ranking for 2009  issued by Platts.  
 
 Our Company won the ‘Emerging Telecom Infrastructure Provider’ Award
 at the  INFOCOM CMAI National Telecom Awards 2009.  
 
 Our Company received a Certificate of Merit by the International
 Federation of  Training and Development Organizations, Canada at the
 Global Human Resource  Development Awards, 2009. 
 
 2010  
 
 - Our Company received three Gold Shields for the transmission system
 availability of  Western region - I, of North Eastern region and for
 the early completion of 220 KV  D/C Pul-e-Khumri to Kabul
 transmission line in Afghanistan; a Silver Shield for the  system
 availability at the Easter region - I, in the National Awards for
 Meritorious  Performance in Power Sector 2008-09 awarded by the MoP. 
  
 
 - Our Company is certified with Integrated Management System (IMS) as
 per Publicly  Available Specification, PAS 99:2006 integrating
 requirement of ISO 9001:2008, ISO  14001:2004 and OHSAS 18001:2007.
 Our Company is also certified with SA  8000:2008 for its Social
 Accountability System. Our Company won the Award for be st HR
 strategy in line with business by Asia’s best employer brand awards.
 
 - Powergrid is establishing a 1200 KV National Test station at
 Nina.It is unique collaborative efforts where leading manufacturers
 have joined hands with Power grid for indigenously developing the
 technology for transmitting power at 1200kV.
 
 - Power Grid Corp of India stated that its board approved investment
 of Rs 2,034 crore in 3 different projects.
 
 - Power Grid strengthens on Nepal Joint Venture
 
 - State-owned PowerGrid Corp has decided to invest Rs 4,404.57 crore
 to develop a transmission system for importing electricity from
 Bhutan.
 
 2011
 
 - Power Grid Corporation of India Ltd (PGCIL) is in the final stage
 of securing a USD 750 million loan from Asian Development Bank (ADB),
 for financing its transmission project.
 
 - Power Grid Corporation of India have signed a memorandum of
 understanding (MoU) with Birla Institute of Management and Technology
 (Bimtech), Greater Noida to jointly explore the opportunities for
 capacity building, institution development and training and
 development programmes.
 
 - Power Grid Corporation of India Ltd has appointed Shri R. N. Nayak,
 Director (Operations)as Chairman & Managing Director with effect from
 September 01, 2011.
 
 - State-owned Power Grid Corporation of India  has diversified its
 business into engineering, procurement and construction services in
 India and overseas. 
 
 - Power Grid Corporation of India Limited, a Navratna state-owned
 electric utility company, has planned to submit their bid for the
 contract worth Rs. 1300 crore along with other domestic and foreign
 players. Power Grid wheels about 51% of the total power generated in
 India on its transmission network.
 
 2012
 
 - Power Grid - POWERGRID signed SHA to set up Joint Venture
 Companies
 
 - Power Grid Corporation of India  has received the board approval
 for investing Rs 1,682.13 crore in the development of two projects in
 Magarwada and Chhattisgarh.
 
 - Power Grid Corporation of India which is India's principal electric
 power transmission company stated that the company's board of
 directors have given their consent for the formation of a Joint
 Venture Company along with Odisha Power Transmission Corporation Ltd
 
 
 - The state owned electric utilities company, Power Grid Corporation
 of India Ltd said that it has succeeded in bagging the bid for
 establishing transmission system associated with IPPs of Nagapattinam
 / Cuddalore Area.
 
 - Power Grid explored the entry into 'Wire Business'.