Mandatory Accounting Standards - Ind AS – Extracts from Published Accounts-1

|126| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts ` 10.85 million (for the year ended March 31, 2018 ` 12.28 million) does not have material impact on financial statements. 7.5 In respect of subsidiary, PMHBL, 7.5.1 The Company is still in the process of getting registered its acquisition of Land at seven locations, acquired through KIADB for Sectionalized Valve Stations. Until registration of the ‘lease cum sale agreement’, amount paid towards acquisition is shown as ‘Capital advance against land purchase’ under Note 19 - Other Non- Current Assets. 7.5.2 Assets pledged as security:- Assets to the extent of ` Nil (Previous year 1,506.28 millions) have been pledged to secure borrowings in respect of the Zero Coupon Bonds. The Company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity. The Company has repaid the Zero Coupon Bond in full along with the recompense amount. 7.6 In respect of subsidiary, HPCL, 7.6.1 Includes assets costing ` 0.07 million (as on March 31, 2018: ` 0.07 million) of erstwhile Kosan Gas Company not handed over to the Corporation. In case of these assets, Kosan Gas Company was to give up their claim. However, in view of the tenancy right sought by third party, the matter is under litigation. 7.6.2 Includes ` 5,193.10 million (as on March 31, 2018: ` 5,014.50 million) towards Building, Other Machinery, Pipelines, Railway Sidings, Right of Way etc. being the Corporation’s Share of Cost of Land & Other Assets jointly owned with other Companies. 7.6.3 Includes ` 323.90 million (as on March 31, 2018: ` 352.30 million) towards Roads & Culverts, Transformers& Transmission lines, Railway Sidings & Rolling Stock, ownership of which does not vest with the Corporation. The Corporation is having operational control over such assets. These assets are amortized at the rate of depreciation specified in Schedule II of Companies Act, 2013. 7.6.4 A) Includes following assets which are used for distribution of PDS Kerosene under Jana Kalyan Pariyojana against which financial assistance is being provided by OIDB. (` in million) Description Original Cost As at March 31, 2019 As at March 31, 2018 Roads & culverts 1.30 1.30 Buildings 16.20 16.20 Plant & Equipment 23.70 24.90 Total 41.20 42.40 B) Includes assets held under PAHAL (DBTL) scheme against which financial assistance is being provided by MoP&NG: (` in million) Description Original Cost As at March 31, 2019 As at March 31, 2018 Computer Software 74.90 74.90 Computers/ End use devices 56.50 56.50 Office Equipment 0.10 0.10 Automation, Servers & Networks 15.50 15.50 Total 147.00 147.00 7.6.5 Deduction/ reclassification includes assets as on March 31, 2019 of ` 82.40 million (as on March 31, 2018: ` 34.90 million) for which management has given consent for disposal & hence classified as Assets held for sale.

|127| Chap. 7 – Ind AS 16 — Property Plant and Equipment 7.6.6 Leasehold Land includes ` 275.70 million (as on March 31, 2018: ` 275.70 million) for land acquired on lease- cum-sale basis from Karnataka Industrial Area Development Board (KIADB) which is capitalized without being amortised over the period of lease. Lease shall be converted into Sale on fulfillment of certain terms and conditions, as per allotment letter. 7.6.7 In accordance with Para 7AA of Ind AS 21 read with Para D13AA of Ind AS 101, the Corporation has adjusted the exchange differences arising on long term foreign currency monetary items to the cost of assets and depreciated over the balance useful life of the assets. 7.6.8 The Group has considered the ISBL (Inside boundary Limit) pipeline directly associated as an integral part of Plant and Machinery / Tanks and has depreciated such pipelines based on the useful life of respective plants, which is considered as 25 years in line with the Schedule II of the Companies Act, 2013. 7.6.9 Includes assets having Net block of ` 13.0 million (31.03.2018: ` 13.90 million) towards Plant & Equipment, Buildings & Roads, where Infrastructure Facilities were provided at Railway Premises. However, No sales transactions were entered into during current financial year with such customers. 7.6.10 On the basis of the information to the extent compiled by the Corporation, pending the reconciliation of the available records, title/lease deeds for free hold/lease hold lands are not available with the Corporation in the case of 6 properties costing ` 3.0 million and in the case of 19 properties costing ` 24.90 million , property tax receipts are held by the Group. The data relating to lease deeds pending registration and refundable security deposit is under compilation and reconciliation. 8 Capital Work in Progress (` in million) Particulars As at March 31, 2019 As at March 31, 2018 A) Oil and Gas Assets (i) Development Wells in progress Opening Balance (Refer note 8.1) 27,487.63 40,978.03 Expenditure during the year 110,213.81 83,440.55 Depreciation during the year 2,947.00 2,316.86 Transfer to Oil and Gas Assets (94,577.94) (99,535.09) Foreign currency translation adjustment (Refer note 8.8) 357.33 (32.09) Other adjustments — 319.37 Total 46,427.83 27,487.63 Less: Accumulated Impairment Opening balance (Refer note 8.6) 968.60 691.25 Provided for the year 1,619.18 185.44 Write back during the year — (112.02) Foreign currency translation adjustment (Refer note 8.8) 2.57 0.12 Other adjustments — 203.81 Total 2,590.35 968.60 Carrying amount of Development wells in progress 43,837.48 26,519.03 (ii) Oil and Gas facilities in progress Oil and gas facilities (Refer note 8.1 ) 133,061.80 117,115.34 Expenditure during the year — — Acquisition Costs- Exploration and Production Asset ( refer note 50.1.9) 4,261.40 4,853.01 Total 137,323.20 121,968.35

|128| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars As at March 31, 2019 As at March 31, 2018 Less: Accumulated Impairment Provided for the year (net) 4,072.19 3,076.47 Other adjustments 942.47 — Carrying amount of Oil and gas facilities in progress 132,308.54 118,891.88 B) Other Capital Works-in-Progress Land and Buildings 4,467.34 5,394.82 Plant and equipment 117,522.02 61,694.85 Software 27.47 17.59 Capital stores (including in transit) 2,351.82 3,750.53 Less: Impairment for Non-Moving Items (43.28) (35.52) Total 124,325.37 70,822.27 Less: Accumulated Impairment Opening Balance 2,419.75 5,439.28 Provided for the year 33.12 5.18 Other adjustments (942.47) (2,936.68) Written back during the year — (88.04) Carrying amount of capital work in progress 122,814.97 68,402.53 8.1 The Group (Except for OVL) has elected to continue with the carrying value of its Capital Works-inProgress recognised as of April 1, 2015 (transition date) measured as per the Previous GAAP and used that carrying value as its deemed cost as on the transition date as per Para D7AA of Ind AS 101 except for decommissioning and restoration provision included in the cost of Capital Works-in-Progress which have been adjusted in terms of para D21 of Ind AS 101 ‘First –time Adoption of Indian Accounting Standards’. 8.2 In respect of the Company, Includes ` 2,558.52 million towards carrying cost of Train – II of Gas Processing Facility at Onshore Gas Terminal in NELP Block KG-OSN-2001/3, pending finalisation of work for commissioning by the technical consultant. 8.3 In respect of subsidiary MRPL, additions to CWIP includes borrowing costs amounting to ` 232.47 million (for the year ended March 31, 2018 ` 13.45 million) and allocated to different class of assets. The rate used to determine the amount of borrowing costs eligible for capitalization was 7.69% (For the year ended March 31, 2018 was 6.24%) which is the effective interest rate on borrowings. 8.4 In respect of subsidiary MRPL, leasehold lands includes land amounting to ` 717.31 million (as at March 31, 2018 ` 717.31 million), which is in possession of the Company towards which formal lease deeds are yet to be executed. 8.5 In respect of subsidiary MRPL, loan availed against OIDB, is secured by way of first ranking pari passu charge by way of hypothecation / mortgage only on property, plant & equipment / projects financed out of loan proceeds of OIDB. (Refer note 28.9). 8.6 In respect of subsidiary OVL, the company has 60% participating interest in Block XXIV, Syria. In view of deteriorating law and order situation in Syria, operations of the project are temporarily suspended since April 29, 2012. In view of the same, impairment had been made in respect of development wells in progress amounting to ` Nil (for the year ended March 31, 2018 ` Nil). The cumulative impairment as at March 31, 2019 is ` 115.13 million (as at March 31, 2018 ` 107.99 million) in respect of the project. (refer note no. 8.8) 8.7 In respect of subsidiary OVL,borrowing cost amounting to ` 172.28 million has been capitalised under the Oil and Gas facilities in progress during the year ended March 31, 2019 (for the year ended March 31, 2018 ` 121.86 million). The weighted average capitalization rate on funds borrowed is 4.74% per annum (during the year ended March 31, 2018 2.66% per annum).

|129| Chap. 7 – Ind AS 16 — Property Plant and Equipment 8.8 Group’s subsidiary ONGC Videsh Limited has determined its functional currency as US$. Above foreign exchange difference represents differences on account of translation of the consolidated financial statements of the ONGC Videsh Limited from US$ to Group’s presentation currency“`”. Refer note 3.21 and 5.1 (a). 55.3 Commitments 55.3.1 Capital Commitments: (a) Estimated amount of contracts remaining to be executed on capital account:- i) In respect of the Group: ` 564,671.19 million (as at March 31, 2018: ` 343,310.17 million). ii) In respect of Group Share in Joint Ventures: ` 2,695.41 million (as at March 31, 2018: ` 415.76 million). (b) Unconditional purchase obligation: i) In respect of the Group: ` 6,407.14 million (as at March 31, 2018:` 6,407.14 million). Non-cancellable Operating Lease commitment in respect of the Group is ` 147,063.88 million (as at March 31, 2018: ` 194,066.45 million). 14. TATA COFFEE LIMITED a) Property, Plant & Equipment i) Recognition and measurement: Property, plant and equipment including bearer assets are carried at historical cost of acquisition or deemed cost less accumulated depreciation and accumulated impairment loss, if any. Historical cost includes its purchase price, including import duties and non-refundable purchase taxes after deducting trade discounts and rebates and any cost directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Subsequent expenditure related to an asset is added to its book value only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All repairs and maintenance are charged to the statement of profit and loss during the financial year in which they are incurred. ii) Depreciation: Depreciation is provided on assets to get the initial cost down to the residual value. Land is not depreciated. Depreciation is provided on a straight-line basis over the estimated useful life of the asset as prescribed in Schedule II to the Companies Act, 2013 or based on a technical evaluation of the asset. Cost incurred on assets under development are disclosed under capital work in progress and not depreciated till asset is ready to use i.e. when it is in the location and condition necessary for it to be capable of operating in the manner intended by management. Estimated useful life of items of Property, Plant and Equipment are as follows: Type of Asset Estimated Useful Life Buildings including Water supply System Perpetual Lease Buildings including Water supply System 28-58 years Roads/Carpeted/Non-Carpeted 10 Years Irrigation Systems 10-20 Years Electrical Installations 20 Plant & Machinery – Continuous Process 18 Other Plant & Machinery 20 Furniture & Fittings 15 Computer 6

|130| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Type of Asset Estimated Useful Life Motor Vehicles 10 Office Equipment 5 The residual values and useful lives for depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Recoverable amount is higher of the value in use or exchange. Gains and losses on disposals are determined by comparing the sale proceeds with the carrying amount and are recognised in the statement of profit and loss. Depreciation and amortisation is based on management estimates of the future useful lives of the property, plant and equipment and intangible assets. Estimates may change due to technological developments, competition, changes in market conditions and other factors and may result in changes in the estimated useful life and in the depreciation and amortisation charges. b) Biological Assets Biological assets are classified as Bearer biological assets and agricultural produce. Bearer Biological Assets which are held to bear agricultural produce are classified as Bearer plants. Bearer plants are recognised under Property, Plant and Equipment on fulfilment of the following conditions. 1. Is used in the production or supply of agricultural produce; 2. Is expected to bear produce for more than one period; and has a remote likelihood of being sold as agricultural produce, except for incidental scrap sales Tea bushes, Coffee bushes, Pepper vines, Cardamom tiller and Shade trees are recognised as Bearer biological assets. These are classified as mature Bearer Plants and Immature Bearer Plants. Mature Bearer Plants are those that have attained harvestable stage. Cost incurred for new plantations and immature areas are capitalised. Cost includes cost of land preparation, new planting and maintenance till maturity. The cost of areas coming into bearing is transferred to mature plantations and depreciated over their estimated useful lives. Bearer plants relating to Coffee and Tea bushes, Pepper vines and minor produces attain a harvestable stage in about 3-5 years. Bearer biological assets are carried at cost less accumulated depreciation and accumulated impairment loss, if any. Subsequent expenditure on bearer assets are added to its book value only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Mature bearer plants are depreciated over their estimated useful life. Immature bearer plants are tested for impairment / obsolescence. The estimated useful life of mature bearer plants is as follows: Type of Bearer Biological Assets Estimated Useful Life Arabica Coffee Plants 30 Years Robusta Coffee Plants 58 Years Tea Bushes 58 Years Pepper Vines & Cardamom Tillers 35 Years Silver oak and Shade Management Trees 35 Years

|131| Chap. 7 – Ind AS 16 — Property Plant and Equipment Disclosure Note No. 1 - Property, Plant and Equipment ` in Lakhs Particulars Freehold Land and Development Leasehold Land and Development Buildings Water and Sanitary Installations Electrical Installations Plant & Machinery Furniture & Fixtures Computers Office Equipment Motor Vehicles Bearer Plants Total Property, Plant and Equipment Capital Work in Progress Bearer Plants in Progress Total Capital Work in Progress Gross Carrying Value as at April 1, 2017 6906.77 829.99 9272.24 944.77 1405.42 29086.63 531.76 318.13 206.47 1029.62 35.56 50567.36 2014.30 1711.87 3726.17 Additions — — 1189.75 515.23 497.56 4316.88 53.94 95.07 108.60 185.47 67.76 7030.26 5901.92 1481.62 7383.54 Disposals (150.12) — (0.28) (0.31) (5.28) (19.98) (3.41) — (59.94) (119.95) — (359.27) — — — Transfers / Adjustments — — (24.74) — — 125.83 3.17 3.09 0.16 0.03 — 107.54 — (67.76) (67.76) Gross Carrying Value as at April 1, 2018 6756.65 829.99 10436.97 1459.69 1897.70 33509.36 585.46 416.29 255.29 1095.17 103.32 57345.89 7916.22 3125.73 11041.95 Additions (Refer Notes (e) & (f)) 446.24 — 5651.70 183.83 205.11 971.61 12.11 219.64 47.22 278.07 414.33 8429.87 27054.51 1435.64 28490.16 Disposals — — (1.33) (1.48) (0.69) (181.31) (1.05) (5.26) (4.42) (311.26) — (506.80) — — — Transfers/Adjustments — — 125.78 — — 1403.44 39.97 37.79 12.72 0.36 — 1620.06 — (414.33) (414.33) Gross Carrying Value as at March 31, 2019 7202.89 829.99 16213.12 1642.04 2102.12 35703.10 636.49 668.46 310.81 1062.34 517.65 66889.02 34970.73 4147.04 39117.77 Accumulated Depreciation Freehold Land and Development Leasehold Land and Development Buildings Water and Sanitary Installations Electrical Installations Plant & Equipment Furniture & Fixtures Computers Office Equipment Motor Vehicles Bearer Plants Total Property, Plant and Equipment Capital Work in Progress Bearer Plants in Progress Total Capital Work in Progress Accumulated Depreciation as at April 1, 2017 — — 1199.59 61.84 145.09 4214.32 143.92 93.53 78.77 160.57 1.18 6098.81 — — — Depreciation expenses — — 674.59 41.67 99.20 2531.73 86.76 79.36 51.57 119.03 3.44 3687.35 — — — Depreciation expenses — — (13.10) (0.48) (3.32) 52.47 (0.42) 3.12 (53.21) (47.34) — (62.28) — — — Accumulated Depreciation as at April 1, 2018 — — 1861.08 103.03 240.97 6798.52 230.26 176.01 77.13 232.26 4.62 9723.88 — — — Depreciation expenses — — 758.04 53.93 122.99 2583.83 82.93 91.24 57.72 117.27 16.30 3884.24 — — — Depreciation expenses — — 148.83 (1.73) (0.66) 621.97 30.49 30.57 7.92 (117.97) — 719.42 — — — Accumulated Depreciation as at March 31, 2019 — — 2767.94 155.23 363.30 10004.32 343.68 297.82 142.77 231.56 20.92 14327.54 — — — Net Carrying Value as at April 1, 2017 6906.77 829.99 6632.33 882.93 1260.33 15513.50 199.44 141.18 86.95 865.75 34.38 33353.55 304.59 1711.87 2016.46 Net Carrying Value as at April 1, 2018 6756.65 829.99 7458.26 1356.65 1656.73 16811.70 221.92 155.17 165.24 860.25 98.70 36371.26 558.01 3125.73 3683.74 Net Carrying Value as at March 31, 2019 7202.89 829.99 8526.30 1486.79 1739.29 16142.30 210.15 175.01 157.10 829.42 496.73 37795.98 294.34 4147.04 4441.38 (a) Additions/Adjustments include ` Nil (PY ` (-) 0.42 Lakhs) towards Buildings and ` Nil (` (-) 2.06 -lakhs) towards Plant & Equipment on account of exchange differences on Long Term Foreign Currency LOans (as permitted by Para D13AA of Ind AS 101) (b) The following assets are jointly owned/held with the Holding Company :- Freehold Land and Development ` 103.78 Lakhs (Previous Year - ` 103.78 Lakhs) Buildings ` 56.78 Lakhs (Previous Year - ` 56.78 Lakhs) Water and Sanitary Installations ` 8.15 Lakhs (Previous Year - ` 8.15 Lakhs) Electrical installations ` 22.07 Lakhs (Previous Year - ` 22.07 Lakhs) (c) Title Deeds of Freehold land of a Coffee Estate has been hypothecated for financing part of the Working Capital facilities. (d) The Additions in Bearer Plants represents capitalisation of Coffee, Pepper and Tea plants which have attained maturity during the year. (e) In relation to acquisition of certain Tea and Coffee estates made by the Company in the past, the Concerned jurisdictional officers have assessed the market value of these properties in current year. Based on this, the Company has paid differential Stamp Duty of ` 774 Lakhs and the Registration fee of ` 97 Lakhs and these have been shown as additions during the current year.

|132| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 15. TORRENT POWER LIMITED Tangible fixed assets Freehold land is carried at historical cost. All other items of property, plant and equipment held for use in the production or supply of goods or services, or for administrative purposes, are stated in the consolidated balance sheet at cost less accumulated depreciation and accumulated impairment losses, except that on adoption of Ind AS, property, plant and equipment had been measured at deemed cost, using the net carrying value as per previous GAAP as at 1st April,2015. Capital work in progress in the course of construction for production, supply or administrative purposes is carried at cost, less any recognised impairment loss. Cost includes purchase price, taxes and duties, labour cost and other directly attributable costs incurred upto the date the asset is ready for its intended use. Such property, plant and equipment are classified to the appropriate categories when completed and ready for intended use. Subsequent cost are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the group and the cost of the item can be measured reliably. Subsequent costs relating to day to day servicing of the item are not recognised in the carrying amount of an item of property, plant and equipment; rather, these costs are recognised in profit or loss as incurred. An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss. Depreciation methods, estimated useful lives and residual value Depreciation commences when the assets are ready for their intended use. Depreciation for the year is provided on additions / deductions of the assets during the period from / up to the month in which the asset is added / deducted. Depreciation on tangible assets which are governed as per the provisions of Part B of Schedule II of the Companies Act, 2013 is provided on straight line basis (other than Agra Franchisee Business for which it is provided on written down value basis) using the depreciation rates, the methodology and residual value as notified by the respective regulatory bodies in accordance with the Electricity Act, 2003. For other tangible assets in non-regulated business, depreciation is provided on a straight-line basis over the estimated useful lives. The estimated useful life, residual values and depreciation method are reviewed at the end of each reporting period in respect of tangible assets of non-regulated business. The effect of any such change in estimate in this regard is accounted for on a prospective basis. The range of depreciation rates of property, plant and equipment are as follows: Class of assets Rate of depreciation Regulated business Franchisee business@ Other business Class of AssetsRate of depreciation Regulated business Franchisee business@ Other business Buildings 1.80% to 6.00% 3.02% to 7.84% 1.18% to 31.67% Railway siding 1.80% to 5.28% — — Plant and machinery 1.80% to 18.00% 5.27% to 33.40% 12.66% Electrical fittings and apparatus 3.60% to 6.33% 6.33% to 12.77% 9.50% Furniture and fixtures 5.28% to 6.33% 6.33% to 12.77% 9.50% Vehicles 6.00% to 18.00% 9.50% to 33.40% 9.50% to 11.88% Office equipment 5.28% to 15.00% 6.33% to 33.40% 6.33% to 31.67%

|133| Chap. 7 – Ind AS 16 — Property Plant and Equipment @ governed by the applicable regulations of U. P. Electricity Regulatory Commission (UPERC)/ Maharashtra Electricity Regulatory Commission (MERC) for this purpose. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Property, plant and equipment: (i) Service concession arrangements The Group has assessed applicability of Appendix D of Ind AS – 115 “Service Concession Arrangements” with respect to its distribution and transmission assets portfolio. In assessing the applicability, the Group has exercised judgment in relation to the provisions of the Electricity Act, 2003, transmission / distribution license and / or agreements. Based on such assessment, it has concluded that Appendix D of Ind AS 115 is not applicable. (ii) Impairment of property, plant and equipment At the end of each reporting period, the Group reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Recoverable amount of property, plant and equipment is the higher of its fair value less costs of disposal and value in use. Value in use is usually determined on the basis of discounted estimated future cash flows. This involves management estimates on anticipated PLF, fuel availability at economical rates, economic and regulatory environment, discount rates and other factors. Any subsequent changes to cash flow due to changes in the above-mentioned factors could impact the carrying value of assets. ll

|134| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 8 Ind AS 17 – Leases 1. ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. Group as a lessee A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Group is classified as a finance lease. Finance leases are capitalised at the commencement of the lease at the inception date fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance with the Group’s general policy on the borrowing costs . Contingent rentals are recognised as expenses in the periods in which they are incurred. A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Group will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term. Operating lease payments are recognised as an expense in the statement of profit and loss on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned. Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Group to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Group’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease. 2. BHARTI AIRTEL LIMITED Accounting Policies 2.11 Leases The determination of whether an arrangement is a lease is based on whether fulfilment of the arrangement is dependent on the use of a specific asset and the arrangement conveys a right to use the asset, even if that right is not explicitly specified in an arrangement. Leases where the lessor transfers substantially all the risks and rewards of ownership of the leased asset are classified as finance lease and other leases are classified as operating lease. Operating lease receipts / payments are recognised as an income / expense on a straight-line basis over the lease term unless the lease payments increase in line with expected general inflation.

|135| Chap. 8 – Ind AS 17 — Lease Contingent rents are recognised as income / expense in the period in which they are earned / incurred. a. Group as a lessee Assets acquired under finance leases are capitalised at the lease inception at lower of the fair value of the leased asset and the present value of the minimum lease payments. Lease payments are apportioned between finance charges (recognised in the statement of profit and loss) and reduction of the lease liability so as to achieve a constant periodic rate of interest on the remaining balance of the liability for each period. Sale and leaseback transaction involve the sale and the leasing back of the same asset. In case it results in a finance lease, any profit or loss is not immediately recognised, instead the asset leased back is retained at it carrying value and the amount received towards the leased back portion is recorded as a finance lease obligation. However, in case it results in an operating lease, any profit or loss is recognised immediately provided the transaction occurs at fair value. b. Group as a lessor Assets leased to others under finance lease are recognised as receivables at an amount equal to the net investment in the leased assets. Finance lease income is allocated to periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the finance lease. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised in statement of profit and loss on a straight-line basis over the lease term. The Group enters into ‘Indefeasible right to use’ (‘IRU’) arrangement wherein the assets are given on lease over the substantial part of the asset life. However, the title to the assets and significant risk associated with the operation and maintenance of these assets remains with the Group. Hence, such arrangements are recognised as operating lease. The contracted price is recognised as revenue during the tenure of the agreement. Unearned IRU revenue received in advance is presented as deferred revenue within liabilities in the balance sheet. Disclosure a) Operating lease The future minimum lease payments (‘FMLP’) are as follows: As Lessee As of March 31, 2019 As of March 31, 2018 Not later than one year 85,256 70,692 Later than one year but not later than five years 254,156 244,153 Later than five years 108,651 70,652 448,063 385,497 Lease rentals (excluding lease equalisation adjustments) 80,577 70,875 The above lease arrangements are mainly pertaining to passive infrastructure and premises / land. Certain of these lease agreements have escalation clause upto 25% and include option of renewal from 1 to 15 years. The FMLP obligation disclosed above include the below FMLP obligations payable to joint ventures, which mainly pertain to amounts payable under the agreement entered by the parent and its subsidiaries, with a joint venture of the Group. As of March 31, 2019 As of March 31, 2018 Not later than one year 45,676 45,156 Later than one year but not later than five years 124,633 149,465 Later than five years 32,591 15,253 202,900 209,874

|136| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts As lessor (i) The Group has entered into non-cancellable lease arrangements to provide dark fiber on indefeasible right to use (‘IRU’) basis. Due to the nature of the transaction, it is not possible to compute gross carrying amount, depreciation for the year and accumulated depreciation of the asset given on operating lease as of March 31, 2018 and accordingly, the related disclosures are not provided. (ii) The FMLP receivables against assets (other than above IRU assets) are as follows: As of March 31, 2019 As of March 31, 2018 Not later than one year 15,710 21,933 Later than one year but not later than five years 54,466 68,228 Later than five years 24,803 37,574 94,979 127,735 b) Finance lease As lessee Finance lease obligation of the Group as of March 31, 2019 is as follows:- Future minimum lease payments Interest Present value Not later than one year 10,357 4,675 5,682 Later than one year but not later than five years 40,404 12,384 28,020 Later than five years 15,391 1,581 13,810 66,152 18,640 47,512 Finance lease obligation of the Group as of March 31, 2018 is as follows: Future minimum lease payments Interest Present value Not later than one year 9,930 5,053 4,877 Later than one year but not later than five years 38,989 14,702 24,287 Later than five years 23,335 3,723 19,612 72,254 23,478 48,776 As lessor The FMLP receivable of the Group as of March 31, 2019 is ` Nil The FMLP receivable of the Group as of March 31, 2018 is as follows: Future minimum lease payments Interest Present value Not later than one year 176 16 160 Later than one year but not later than five years 89 6 83 Later than five years — — – 265 22 243

|137| Chap. 8 – Ind AS 17 — Lease 3. BLUE DART EXPRESS LIMITED Accounting policy g. Leases The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Operating lease rental payments are recognized as an expense in the Statement of Profit and Loss on a straight-line basis over the period of the lease unless the payments are structured to increase in line with expected general inflation to compensate for the lessor’s expected inflationary cost increases. Disclosures 35 OPERATING LEASES a. The Group has entered into various non-cancellable operating lease agreements for official premises and aircrafts/aircraft engines for a period of one to fifteen years and for acquiring aircrafts and aircraft engines for a period of one to fifteen years. Future minimum rentals payable under non-cancellable operating leases are as follows: As at March 31, 2019 in ` Lakhs As at March 31, 2018 in ` Lakhs Not later than one year 13,946 13,004 Later than one year and not later than five years 40,843 38,674 Later than five years 36,546 43,622 Note: The operating lease arrangements for official/ residential premises are renewable on a periodic basis and some of these lease agreements have price escalation clauses. b. Group has entered into various cancellable leasing arrangements for motor cars, office equipments and for official premises. The lease rentals for motor cars of ` 830 Lakhs [Previous year - ` 718 Lakhs] has been included under the head “Employee Benefits Expense Salaries, Bonus and Compensated absences” under note 30 forming part of the Statement of Profit and Loss. Lease rentals for office equipments of ` 434 Lakhs [Previous year - ` 412 Lakhs] has been included under the head “Other Expenses Lease Rentals” under Note 33 forming part of the Statement of Profit and Loss. Lease rentals for official premises of ` 19,697 Lakhs [Previous year -` 17,247 Lakhs] has been included under the head “Other Expenses -Rent” under Note 33 forming part of the Statement of Profit and Loss. Lease rentals for OTM Machines of ` 885 Lakhs [Previous year - ` 932 Lakhs] has been included under the head “Freight, Handling and Servicing Costs - Domestic network operating costs” under note 29 forming part of the Statement of Profit and Loss. Lease rentals for Aircrafts and Aircraft Engine of ` 8,458 Lakhs [Previous year - ` 8,013 Lakhs] has been included under the head “Freight, Handling and Servicing Costs - Aircraft and Engine Lease Rentals” under note 29 forming part of the Statement of Profit and Loss. c. Group has entered into various cancellable leasing arrangements for network vehicles. The lease component included in domestic network operating cost amounting to ` 2,255 Lakhs [Previous year - ` 1,829 Lakhs] has been included under the head “Freight, Handling and Servicing Costs- Domestic Network operating cost” under note 29 forming part of the Statement of Profit and Loss.

|138| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 4. DALMIA BHARAT LIMITED Accounting Policies P. Leases The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. Where the Group is lessee A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Company is classified as a finance lease. Finance leases, are capitalized at the inception of the lease term at the lower of the fair value of the leased property and present value of minimum lease payments. Lease payments are apportioned between the finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognized as finance costs in the statement of profit and loss. unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance with the Group’s general policy on the borrowing costs. Lease management fees, legal charges and other initial direct costs of lease are capitalized. Contingent rentals are recognised as expenses in the periods in which they are incurred. A leased asset is depreciated on a straight-line basis over the useful life of the asset. However, if there is no reasonable certainty that the Company will obtain the ownership by the end of the lease term, the capitalized asset is depreciated on a straight-line basis over the shorter of the estimated useful life of the asset or the lease term. Leases, where the lessor effectively retains substantially all the risks and benefits of ownership of the leased item, are classified as operating leases. Operating lease payments are recognized as an expense in the statement of profit and loss on a straight-line basis over the lease term. Where the Group is the lessor Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straightline basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned. Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Company to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease. The interest income is recognized in the statement of profit and loss. Initial direct costs such as legal costs, brokerage costs, etc. are recognized immediately in the statement of profit and loss. Embedded leases All take-or-pay long term contracts are reviewed at inception to determine whether they contain any embedded leases. If there are any embedded leases, they are assessed as either finance or operating leases and accounted for accordingly.

|139| Chap. 8 – Ind AS 17 — Lease Disclosures 32. Lease A. Operating lease- Assets taken on lease The group has entered into cancellable lease agreements with an average life up to ten years with renewal option at the mutual consent of lessor & lessee. Some of the lease agreements contain escalation clause of upto 10%. There are no restrictions placed upon the group by entering into these leases. Particulars March 31, 2019 March 31, 2018 Lease payments for the year 55 46 Total 55 46 Future minimum rentals payable under non-cancellable operating leases as at March 31 are as follows:- Future minimum lease payments March 31, 2019 March 31, 2018 Not later than one year 3 2 Later than one year and not later than five years 5 5 Later than five years - 1 Total 8 8 B. Finance Lease -Group as Lessor The DCBL (Subsidiary Company) had purchased wagons under "own your wagon scheme" of Railways and leased it to Railways on rent, the wagons were recognised as assets and carried in the books at written down value, the Company is earning rental income from the arrangement, hence it qualifies to be recognised as finance lease arrangement where Railways is the lessee. March 31, 2019 March 31, 2018 Minimum lease receivables Present value of MLP Minimum lease receivables Present value of MLP Within one year — — — — After one year but not more than five years more than five years — — — — Unguaranteed residual values 1 1 1 1 Total minimum lease payments 1 1 1 1 Less: amounts representing finance charges — — — — Present value of minimum lease payments 1 1 1 1 C. Finance Lease- Group as Lessee The Company has finance lease arrangements for printers and land at various locations. These leases have term of between 5 and 99 years and are eligible for renewal at the end of lease term. Future minimum lease payments (MLP) and its present value under finance leases are as follows - March 31, 2019 March 31, 2018 Minimum lease receivables Present value of MLP Minimum lease receivables Present value of MLP Within one year 2 1 1 1 After one year but not more than five years 2 1 3 2

|140| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts March 31, 2019 March 31, 2018 Minimum lease receivables Present value of MLP Minimum lease receivables Present value of MLP more than five years 7 0 7 0 Total minimum lease payments 11 2 11 3 Less: Amount representing interest (9) - (8) - Present value of minimum lease payments 2 2 3 3 5. FORTIS HEALTHCARE LIMITED At inception of an arrangement, it is determined whether the arrangement is or contains a lease. If it is a lease arrangement, it is classified as either a finance lease or an operating lease, based on the substance of the lease arrangement. The Group accounts for assets taken under lease arrangement in the following manner: Finance leases Assets leased by the Group in its capacity as lessee where substantially all the risks and rewards of ownership vest in the Group are classified as finance leases. A finance lease is recognized as an asset and a liability at the commencement of the lease, at the lower of the fair value of the asset and the present value of the minimum lease payments. Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Operating leases Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the Statement of Profit and Loss on a straight-line basis over the period of the lease unless the payments are structured to increase in line with expected general inflation to compensate for the lessor’s expected inflationary cost increases. The Group accounts for assets given under lease arrangement in the following manner: Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating leases. Assets subject to operating leases are included in Property, Plant and Equipment. Rental income on operating lease is recognized in the Statement of Profit and Loss on a straightline basis over the lease term. Where the rentals are structured solely to increase in line with expected general inflation to compensate for the Group’s expected inflationary cost increases, such increases are recognised in the year in which such benefits accrue. Costs, including depreciation, are recognized as an expense in the Statement of Profit and Loss. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased assets and recognised on a straight line basis over the lease term. 6. GVK POWER AND INFRASTRUCTURE LIMITED The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement.

|141| Chap. 8 – Ind AS 17 — Lease A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the lessee is classified as finance lease. Company as a lessee: Operating lease Operating lease payments are recognised as an expense in the statement of profit and loss on a straight line basis unless payments to the lessor are structured to increase in line with expected general inflation to compensate for the lessor’s expected inflationary cost increase. Company as a lessor: Operating lease Rental income from operating lease is recognised on a straight line basis over the lease term unless payments to the Company are structured to increase in line with expected general inflation to compensate for the Company’s expected inflationary cost increase 7. IRB INFRASTRUCTURE DEVELOPERS LIMITED The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. Group as a lessee A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the group will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term. A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the group is classified as a finance lease. Operating lease payments are recognised as an expense in the consolidated statement of profit and loss on a straight-line basis over the lease term. Group as a lessor Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned. Leases are classified as finance leases when substantially all of the risks and rewards of ownership transfer from the Group to the lessee. Amounts due from lessees under finance leases are recorded as receivables at the Group’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the net investment outstanding in respect of the lease. 8. MAHINDRA LIFESPACE DEVELOPERS LIMITED Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. The Group as a Lessor Rental income from operating leases is generally recognised on a straight-line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line with expected general inflation to compensate for the Group’s expected inflationary cost increases, such increases are recognised in the year in

|142| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts which such benefits accrue. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term. The Group as a Lessee Rental expense from operating leases is generally recognised on a straight-line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line with expected general inflation to compensate for the lessor’s expected inflationary cost increases, such increases are recognised in the year in which such benefits accrue. 9. RAYMOND LIMITED Significant Accounting Policies: Lease operating Lease As a lessee Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group, as lessee, are classified as operating leases. Payments made under operating leases are charged to the Consolidated Statement of Profit and Loss on a straight-line basis over the period of the lease unless the payments are structured to increase in line with expected general inflation to compensate for the Group’s expected inflationary cost increases. As a lessor Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the lease term unless the receipts are structured to increase in line with expected general inflation to compensate for the excepted inflationary cost increases. The respective leased assets are included in the Consolidated Balance Sheet based on their nature. Recent accounting pronouncements Amendments to Ind As 116, ‘Leases’. “On 30th March 2019, the Ministry of Corporate Affairs (MCA) has notified Ind AS 116 Leases, under Companies (Indian Accounting Standards) Amendment Rules, 2019 which is applicable with effect from 1st April, 2019. Ind AS 116 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. Ind AS 116 introduces a single lease accounting model for lessee and requires the lessee to recognize right of use assets and lease liabilities for all leases with a term of more than twelve months, unless the underlying asset is low value in nature. Currently, operating lease expenses are charged to the statement of profit and loss. Ind AS 116 substantially carries forward the lessor accounting requirements in Ind AS 17. As per Ind AS 116, the lessee needs to recognise depreciation on rights of use assets and finance costs on lease liabilities in the statement of profit and loss. The lease payments made by the lessee under the lease arrangement will be adjusted against the lease liabilities. The Company is currently evaluating the impact on account of implementation of Ind AS 116 which might have significant impact on key profit & loss and balance sheet ratio i.e. Earnings before interest, tax, depreciation and amortisation (EBITDA), Asset coverage, debt equity, interest coverage, etc.

|143| Chap. 8 – Ind AS 17 — Lease Disclosure Contingent liabilities and commitments (to the extent not provided for) Commitments Lease disclosure (` in lakhs) As at 31st March, 2019 As at 31st March, 2018 (i) Premises taken on operating lease: The Group has significant operating leases for premises. These lease arrangements range for a period between 11 months and 9 years, which include both cancellable and non-cancellable leases. Most of the leases are renewable for further period on mutually agreeable terms and also include escalation clauses. With respect to non-cancellable operating lease, the future minimum lease payment as at Balance Sheet date is as under: For a period not later than one year 3236.95 4769.17 For a period later than one year and not later than five years 1302.58 2915.32 For a period later than five years 620.76 708.54 (ii) Assets taken on operating lease: The Company has operating leases for network server. These lease arrangements range for a period between 1 and 4 years, which include both cancellable and non-cancellable leases. Most of the leases are renewable for further period on mutually agreeable terms. With respect to non-cancellable operating lease, the future minimum lease payment as at Balance Sheet date is as under: For a period not later than one year 16.44 36.00 For a period later than one year and not later than five years — 16.52 For a period later than five years — — 10. THE INDIAN HOTELS COMPANY LIMITED Assets taken on lease Operating Lease Leases in which a significant portion of the risks and rewards of ownership are not transferred to the Group as lessee are classified as operating lease. Payments made under operating leases are charged to Statement of Profit and Loss on a straight-line basis over the period of the lease unless the payments are structured to increase in line with the expected general inflation to compensate for the lessor’s expected inflationary cost increases. Finance Lease Leases in which substantially all the risks and rewards of ownership are transferred to the Group as lessee are classified as finance lease. Finance lease are capitalised at the inception of the lease at the fair value of the leased assets or, if lower, the present value of the minimum lease payments. The corresponding rental obligations, net of finance charges, are included in the borrowings or other financial liabilities as appropriate. Lease payments are apportioned between the reduction of the lease liability and finance charges in the Statement of Profit and Loss so as to achieve a constant rate of interest on the remaining balance of the liability. Assets held under finance leases are depreciated over the shorter of the estimated useful life of the asset and the lease term.

|144| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 11. WIPRO LIMITED Leases The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception date. The arrangement is, or contains a lease if, fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified in an arrangement. a) Arrangements where the Company is the lessee Leases of property, plant and equipment, where the Company assumes substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are capitalised at lower of the fair value of the leased property and the present value of the minimum lease payments. Lease payments are apportioned between the finance charge and the outstanding liability. The finance charge is allocated to periods during the lease term at a constant periodic rate of interest on the remaining balance of the liability. Leases where the lessor retains substantially all the risks and rewards of ownership are classified as operating leases. Payments made under operating leases are recognised in the consolidated statement of profit and loss on a straight-line basis over the lease term. b) Arrangements where the Company is the lessor In certain arrangements, the Company recognises revenue from the sale of products given under finance leases. The Company records gross finance receivables, unearned income and the estimated residual value of the leased equipment on consummation of such leases. Unearned income represents the excess of the gross finance lease receivable plus the estimated residual value over the sales price of the equipment. The Company recognises unearned income as finance income over the lease term using the effective interest method. Ind AS 116 – Leases On March 30, 2019, Ministry of Corporate Affairs notified Ind AS 116, Leases. Ind AS 116 will replace the existing leases Standard, Ind AS 17 Leases, and related interpretations. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases. Ind AS 116 introduces a single lessee accounting model and requires a lessee to recognise assets and liabilities for all leases with a term of more than 12 months, unless the underlying asset is of low value. The Standard also contains enhanced disclosure requirements for lessees The standard allows for two methods of transition: the full retrospective approach, requires entities to retrospectively apply the new standard to each prior reporting period presented and the entities need to adjust equity at the beginning of the earliest comparative period presented, or the modified retrospective approach, under which the date of initial application of the new leases standard, lessees recognise the cumulative effect of initial application as an adjustment to the opening balance of equity as of annual periods beginning on or after April 1, 2019. The Company will adopt this standard using modified retrospective method effective April 1, 2019, and accordingly, the comparative for year ended March 31, 2018 and 2019, will not be retrospectively adjusted. The Company has elected certain available practical expedients on transition. Based on assessment, the effect of adoption as on transition date would majorly result in recognising a rightof-use assets and corresponding lease liabilities approximately ` 13,266 and ` 15,867 respectively. There will be reclassification in the cash flow categories in the statement of cash flows. 31. Finance lease receivables Finance lease receivables consist of assets that are leased to customers for a contract term ranging from 1 to 7 years, with lease payments due in monthly or quarterly installments. Details of finance lease receivables are given below:

|145| Chap. 8 – Ind AS 17 — Lease As at March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Minimum lease payments Present value of minimum lease payment Not later than one year 1,742 2,414 1,618 2,271 Later than one year but not later than five years 1,813 2,890 1,752 2,739 Later than five years 44 — 42 Gross investment in lease 3,599 5,304 3,412 5,010 Less: Unearned finance income (187) (294) — — Present value of minimum lease payment receivables 3,412 5,010 3,412 5,010 Included in the consolidated balance sheet as follows: Non-current 1,794 2,739 Current 1,618 2,271 32. Assets taken on lease Finance leases: The following is a schedule of future minimum lease payments under finance leases, together with the present value of minimum lease payment as of March 31, 2019 and 2018: As at March 31, 2019 March 31, 2018 March 31, 2019 March 31, 2018 Minimum lease payments Present value of minimum lease payment Not later than one year 1,555 3,838 1,506 3,720 Later than one year but not later than five years 506 1,784 496 1,722 Later than five years — — — — Total minimum lease payments 2,061 5,622 2,002 5,442 Less: Amounts representing interest (59) (180) - - Present value of minimum lease payment receivables 2,002 5,442 2,002 5,442 Included in the consolidated balance sheet as follows: — (1,469) — (1,469) Obligation under finance lease 2,002 3,973 2,002 3,973 Included in the consolidated balance sheet as follows: Non-current 496 1,722 Current 1,506 2,251 Operating leases: The Company has taken offices, vehicles and IT equipments under cancellable and noncancelable operating lease agreements that are renewable on a periodic basis at the option of both the lessor and the lessee. The operating lease agreements extend up a maximum of fifteen years from their respective dates of inception and some of these lease agreements have price escalation clause. Rental payments under such leases were ` 6,490 and ` 6,236 during the years ended March 31, 2019 and March 31, 2018, respectively.

|146| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Details of contractual payments under non-cancelable leases are given below: As at March 31, 2019 March 31, 2018 Not later than one year 7,006 6,186 Later than one year and not later than five years 11,106 12,470 Later than five years 1,629 2,354 Total 19,741 21,010 12. ZEE ENTERTAINMENT ENTERPRISES LIMITED Accounting Policies l) Leases Finance lease The Group as a lessee: Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. Operating lease The Group as a lessee: Lease of assets under which all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Operating lease payments / revenue are recognised on straight-line basis over the lease period in the consolidated statement of profit and loss unless increase is on account of inflation. The Group as a lessor: Rental income from operating leases is generally recognised on a straight- line basis over the term of the relevant lease. Where the rentals are structured solely to increase in line with expected general inflation to compensate for the Group’s expected inflationary cost increases, such increases are recognised in the year in which such benefits accrue. Disclosure 33. LEASES A. Operating leases: The Group as a lessee: (a) The Group has taken office, residential premises, aircraft and plant and machinery (including equipments) etc. under cancellable / non-cancellable lease agreements that are renewable on a periodic basis at the option of both the Lessor and the Lessee. The initial tenure of the lease is generally ranging from 6 months to 120 months. (` Millions) Mar-19 Mar-18 Lease rental charges for the year 1,719 2,078 Future Lease rental obligation payable (under non-cancellable lease) Not later than one year 1,163 1,072 Later than one year but not later than five years 569 783 Later than five years 28 90

|147| Chap. 8 – Ind AS 17 — Lease The Group as a lessor: (b) The Group has given part of its buildings / investment property under cancellable operating lease agreement. The initial term of the lease is for 9 to 48 months. (` Millions) Mar-19 Mar-18 Lease rental income for the year 497 435 Future Lease rental obligation receivable (under non-cancellable lease) Not later than one year 130 150 Later than one year but not later than five years 919 826 Later than five years 167 342 (c) The Group has also sub-leased part of leased office premises with certain fixed assets under noncancellable operating lease agree ments that are renewable on a periodic basis at the option of both the lessor and lessee. The initial tenure of the lease is generally upto 24 months. (` Millions) Mar-19 Mar-18 Sub lease rent income 117 91 Future sub lease rental obligation receivable (under non-cancellable lease) Not later than one year 68 87 ll

|148| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Chapter 9 Ind AS 19 — Employee Benefits 1. BHARAT PETROLEUM CORPORATION LIMITED Short-term employee benefits Short-term employee benefits are recognized as an expense at an undiscounted amount in the Consolidated Statement of Profit and Loss of the year in which the related services are rendered. Post-employment benefits Defined Contribution Plans Obligations for contributions to defined contribution plans such as pension, provident fund in case of BPRL are recognized as an expense in the Consolidated Statement of Profit and Loss as the related service is provided. Prepaid contributions are recognized as an asset to the extent that a cash refund or a set-off in future payments is available. Defined Benefit Plans The net obligation in respect of defined benefit plans such as gratuity, other post-employment benefits etc. is calculated separately for each plan by estimating the amount of future benefit that the employees have earned in the current and prior periods, discounting that amount and deducting the fair value of any plan assets. The calculation of defined benefit obligation is performed at each reporting period end by a qualified actuary using the projected unit credit method. When the calculation results in a potential asset for the entity, the recognized asset is limited to the present value of the economic benefits available in the form of any future refunds from the plan or reductions in future contributions to the plan. The current service cost of the defined benefit plan, recognized in the Consolidated Statement of Profit and Loss as part of employee benefit expense, reflects the increase in the defined benefit obligation resulting from employee service in the current year, benefit changes, curtailments and settlements. Past service costs are recognized immediately in the Consolidated Statement of Profit and Loss. The net interest is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This net interest is included in employee benefit expense in the Consolidated Statement of Profit and Loss. Re-measurements which comprise of actuarial gains and losses, the return on plan assets (excluding amounts included in the net interest on the net defined benefit liability (asset)) and the effect of the asset ceiling (if any, excluding amounts included in the net interest on the net defined benefit liability (asset)), are recognized in Other Comprehensive Income Other long-term employee benefits Liability towards other long term employee benefits - leave encashment and long service awards etc., are determined on actuarial valuation by qualified actuary by using Projected Unit Credit method. The current service cost of other long terms employee benefits, recognized in the Consolidated Statement of Profit and Loss as part of employee benefit expense, reflects the increase in the obligation resulting from employee service in the current year, benefit changes, curtailments and settlements. Past service costs are recognized immediately in the Consolidated Statement of Profit and Loss. The interest cost is calculated by applying the discount rate to the balance of the obligation. This cost is included in employee benefit expense in the Consolidated Statement of Profit and Loss. Re-measurements are recognized in the Consolidated Statement of Profit and Loss. Termination benefits Expenditure on account of Voluntary Retirement Scheme are charged to Consolidated Statement of Profit and Loss as and when incurred

|149| Chap. 9 – Ind AS 19 — Employee Benefits [A] Post Employment Benefit Plans: Defined Contribution Scheme Defined Contribution Scheme (DCS) was introduced effective from 1st Jan 2007. Group contributes at a defined percentage of the employee salary out of the total entitlements on account of superannuation benefits under this scheme. This Fund is maintained under a trust. ` in Crores Amount recognised in the Statement of Profit and Loss 2018-19 2017-18 Defined Contribution Scheme 121.79 252.78 Defined Benefit Plans The Group has the following Defined Benefit Plans Gratuity The Corporation and its Subsidiary NRL has a defined benefit gratuity plan managed by a trust. The Trustees administer contributions made to the trust, investments thereof etc. Based on actuarial valuation, the contribution is paid to the trust which is invested in plan assets as per the investment pattern prescribed by the Government. Gratuity is paid to a staff member who has put in a minimum qualifying period of 5 years of continuous service, on superannuation, resignation, termination or to his nominee on death. Other Defined Benefits include (a) Post Retirement Medical Scheme (managed by a trust) to employees, spouse, dependent children and dependent parents; (b) Pension / Ex-Gratia scheme to the retired employees who are entitled to receive the monthly pension / ex-gratia for life; (c) Death in service / Permanent Disablement benefit given to the spouse of the employee / employee, provided the deceased’s family / disabled employee deposits with the Corporation, retirement dues such as PF, Gratuity, Leave Encashment etc. payable to them; (d) Resettlement allowance paid to employees to permanently settle down at the time of retirement; (e) Felicitation benefits to retired employees on reaching the age related milestones; and NOTE 51 EMPLOYEE BENEFITS (CONSOLIDATED) (CONTD.) (f) The Corporation makes contribution towards Provident Fund, which is administered by the trustees. The Corporation has an obligation to fund any shortfall on the yield of the trust’s investments over the interest rates declared by the Government under EPF scheme. In case of NRL & BPRL, the contribution to Provident Fund is remitted to Employees Provident Fund Organisation on a fixed percentage of the eligible employee’s salary and charged to Statement of Profit and Loss. These defined benefit plans expose the Group to actuarial risks, such as longetivity risk, interest rate risk and market (investment) risk. Movement in net defined benefit (Asset)/ Liability a) Reconciliation of balances of Defined Benefit Obligations Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Defined Obligations at the beginning of the year 1,099.48 662.38 0.21 0.91 1,078.46 1,011.61 77.43 88.49 Interest Cost 86.55 48.13 0.02 0.07 83.67 75.35 5.95 6.03 Current Service Cost 15.75 6.85 0.01 0.05 40.41 41.50 — — Past Service cost — 478.82 — 0.14 — — — —

|150| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Liability transferred In/ Acquisitions — — 0.20 — — — — — Benefits paid (117.11) (105.11) — — (47.71) (36.93) (15.39) (16.15) Actuarial (Gains)/ Losses on obligations - Changes in financial Assumptions 6.70 (39.15) (0.00) (0.04) (3.79) 0.89 1.09 (2.22) Experience adjustments 49.33 47.57 (0.02) (0.02) 136.01 (13.97) 2.70 1.28 Defined Obligations at the end of the year 1,140.70 1,099.49 0.42 1.11 1,287.05 1,078.45 71.78 77.43 b) Reconciliation of balances of Fair Value of Plan Assets in respect of ` in Crores Particulars Gratuity - Funded Post Retirement Medical - Funded 2018-19 2017-18 2018-19 2017-18 Fair Value at the beginning of the year 696.42 671.07 1,096.39 954.77 Interest income (i) 54.79 48.77 85.07 71.12 Return on Plan Assets, excluding interest income(ii) 1.27 7.48 2.25 14.20 Actual Return on Plan assets (i+ii) 56.06 56.25 87.32 85.32 Contribution by employer 50.70 74.21 10.15 56.68 Contribution by employee — — 1.41 — Benefits paid (2.90) (105.11) (22.11) (0.37) Fair Value of Plan Assets at the end of the year 800.28 696.42 1,173.16 1,096.40 c) Amount recognised in Balance sheet (a-b) ` in Crores Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Amount recognised in Balance sheet (a - b) 340.42 403.07 0.42 1.11 113.89 (17.95) 71.78 77.43 d) Amount recognised in Statement of Profit and Loss ` in Crores Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Current Service Cost 15.75 6.85 0.01 0.05 40.41 41.50 — — Past Service cost — 478.82 — 0.14 — — — — Interest Cost 86.55 48.13 0.02 0.07 83.67 75.35 5.95 6.03 Interest income (54.79) (48.77) — — (85.07) (71.12) — — Contribution by employee — — — — (1.41) — — — Expenses for the year 47.51 485.03 0.03 0.26 37.60 45.73 5.95 6.03 Note: Provision in respect of pay revision dues as mentioned in note no. 48 is over and above the amounts recognised herein.

|151| Chap. 9 – Ind AS 19 — Employee Benefits e) Amount recognised in Other Comprehensive Income Remeasurements ` in Crores Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Actuarial (Gains)/ Losses -Changes in financial assumptions 6.70 (39.15) (0.00) (0.04) (3.79) 0.89 1.09 (2.22) -Experience adjustments 49.33 47.57 (0.02) (0.02) 136.01 (13.97) 2.70 1.28 Return on plan assets excluding net interest cost (1.27) (7.48) — — (2.25) (14.20) — — Total 54.76 0.94 (0.02) (0.06) 129.97 (27.28) 3.79 (0.94) f) Major Actuarial Assumptions ` in Crores Particulars Gratuity - Funded Gratuity - Non Funded Post Retirement Medical - Funded Burmah Shell Pension - Non Funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Discount Rate (%) 7.76-7.77 7.73-7.88 7.59 7.56-7.83 7.77-7.78 7.73-7.76 7.22 7.68 Salary Escalation/ Inflation (%) 8.00 8.00 8.00 5.00-8.00 NA NA Expected Return on Plan assets (%) 7.76-7.77 7.73-7.88 7.77-7.78 7.73-7.76 The estimates for future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors. The expected return on plan assets is based on market expectation at the beginning of the period, for returns over the entire life of the related obligation. g) Investment pattern for Fund ` in Crores Particulars Gratuity - Funded Post Retirement Medical - Funded As at 31/03/2019 As at 31/03/2018 As at 31/03/2019 As at 31/03/2018 Category of Asset % % % % Government of India Securities 17.38 21.45 2.68 3.47 Corporate Bonds 4.13 5.10 74.85 70.11 Insurer Managed funds 70.94 64.49 4.37 2.85 State Government 0.85 1.36 9.67 18.46 Others 6.70 7.60 8.43 5.11 Total (%) 100.00 100.00 100.00 100.00 For the funded plans, the trust maintains appropriate fund balance considering the analysis of maturities. Projected Unit credit method is adopted for Asset-Liability Matching. Movement in net defined benefit (Asset)/ Liability ` in Crores Particulars Death / Permanent disablement - Non Funded Re-settlement Allowance - Non Funded Ex-gratia scheme Non Funded Felicitation Scheme - Non funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 a) Reconciliation of balances of Defined Benefit Obligations Defined Obligations at the beginning of the year 11.51 14.01 16.66 17.69 325.79 326.43 — —

|152| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Particulars Death / Permanent disablement - Non Funded Re-settlement Allowance - Non Funded Ex-gratia scheme Non Funded Felicitation Scheme - Non funded 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 2018-19 2017-18 Interest Cost 0.86 0.95 1.31 1.29 25.28 24.32 — — Current Service Cost — — 3.35 3.61 4.05 3.09 0.72 — Past service cost — — — — — — 83.73 — Benefits paid (13.24) (9.02) (2.65) (2.78) (24.43) (19.90) — — Actuarial (Gains)/ Losses on obligations - Changes in financial assumptions 1.12 (1.92) 0.08 (0.62) (0.55) (8.38) — — - Experience adjustments 11.01 7.49 (2.08) (2.53) 11.74 0.23 — — Defined Obligations at the end of the year 11.26 11.51 16.67 16.66 341.88 325.79 84.45 — b) Amount recognised in Balance sheet 11.26 11.51 16.67 16.66 341.88 325.79 84.45 — c) Amount recognised in Statement of Profit and Loss Current Service Cost — — 3.35 3.61 4.05 3.09 0.72 — Past Service Cost — — — — — — 83.73 — Interest Cost 0.86 0.95 1.31 1.29 25.28 24.32 — — Expenses for the year 0.86 0.95 4.66 4.90 29.33 27.41 84.45 — d) Amount recognised in Other Comprehensive Income Remeasurements : Actuarial (Gains)/ Losses — - Changes in financial assumptions 1.12 (1.92) 0.08 (0.62) (0.55) (8.38) — — - Experienceadjustments 11.01 7.49 (2.08) (2.53) 11.74 0.23 — — Total 12.13 5.57 (2.00) (3.15) 11.19 (8.15) — — e) Major Actuarial Assumptions Discount Rate (%) 7.07 7.50 7.76-7.77 7.73- 7.88 7.78 7.76 7.78 - The estimates for future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors. The expected return on plan assets is based on market expectation at the beginning of the period, for returns over the entire life of the related obligation. Sensitivity analysis Sensitivity analysis for significant actuarial assumptions, showing how the defined benefit obligation would be affected, considering increase/decrease of 1% as at 31.03.2019 is as below: ` in Crores Particulars Gratuity - Funded Post Retirement Medical - Funded Burmah shell Pension- Non Funded Death/ Permanent Disablement- Non funded Resettlement allowance- Non funded Exgratia schemeNon funded Felicitation schemeNon funded Gratuity- Non funded + 1% change in rate of Discounting (59.48) (160.29) (2.25) (2.57) (1.04) (25.70) (6.64) (0.01) - 1% change in rate of Discounting 67.83 203.26 2.30 2.76 1.19 29.93 8.03 0.01 + 1% change in rate of Salary increase/ inflation 12.05 — — — — — — 0.00 - 1% change in rate of Salary increase/ inflation (13.90) — — — — — — (0.00)

|153| Chap. 9 – Ind AS 19 — Employee Benefits Sensitivity analysis for significant actuarial assumptions, showing how the defined benefit obligation would be affected, considering increase/decrease of 1% as at 31.03.2018 is as below: ` in Crores Particulars Gratuity - Funded Post Retirement Medical - Funded Burmah shell Pension- Non Funded Death/ Permanent DisablementNon funded Resettlement allowanceNon funded Exgratia scheme- Non funded Gratuity- Non funded + 1% change in rate of Discounting (59.30) (138.08) (2.79) (2.62) (1.04) (24.52) (0.01) - 1% change in rate of Discounting 67.39 175.93 2.09 2.81 1.19 28.52 0.01 + 1% change in rate of Salary increase/ inflation 14.57 — — — — — 0.00 - 1% change in rate of Salary increase/ inflation (16.72) — — — — — (0.01) Sensitivity for significant actuarial asssumptions is computed by varying one actuarial assumption used for the valuation keeping all other actuarial assumptions constant. The expected future cash flows as at 31st March 2019 were as follows: ` in Crores Expected contribution Gratuity - Funded Post Retirement Medical - Funded Burmah shell Pension- Non Funded Death/ Permanent DisablementNon funded Resettlement allowanceNon funded Exgratia scheme- Non funded Felicitation scheme- Non funded GratuityNon funded Projected benefits payable in future years from the date of reporting 1st following year 206.58 53.86 12.71 2.67 2.07 33.02 16.97 0.21 2nd following year 93.80 64.19 10.97 2.25 0.96 32.93 4.14 0.01 3rd following year 132.51 76.27 9.38 1.98 1.75 32.07 3.29 0.01 4th following year 133.01 81.52 7.95 1.68 1.87 31.12 3.61 0.18 5th following year 132.36 89.08 6.67 1.35 1.77 30.07 3.54 0.00 Years 6 to 10 480.39 570.78 19.12 3.78 7.68 135.58 24.38 0.04 Other details as at 31st March 2019 Particulars Gratuity - Funded Post Retirement Medical - Funded Burmah shell Pension- Non Funded Death/ Permanent DisablementNon funded Resettlement allowanceNon funded Exgratia scheme- Non funded Felicitation scheme- Non funded Weighted average duration of the Projected Benefit Obligation(in years) 7-11 15-25 4 6 7-11 9 10 Prescribed contribution for next year ( ` in Crores) 134.11 155.35 — — — — — Provident Fund: The Corporation’s contribution to the Provident Fund is remitted to separate trust established for this purpose based on a fixed percentage of the eligible employees salary and charged to Statement of Profit and Loss. Shortfall, if any, in the fund assets, based on the Government specified minimum rate of return, will be made good by the Corporation and charged to Statement of Profit and Loss. The actual return earned by the fund has mostly been higher than the Government specified minimum rate of return in the past years. There is no shortfall in the fund as on 31st March 2019 and 31st March 2018.

|154| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts The details of fund obligations are given below: ` in Crores Particulars As at 31/03/2019 As at 31/03/2018 Present value of benefit obligation at period end 5,260.14 4,827.59 Present value of benefit obligation at period end Note: In case of NRL & BPRL, the contribution to Provident Fund is remitted to Employees Provident Fund Organisation on a fixed percentge of the eligible employee’s salary and charged to Statement of Profit and Loss. 2. OIL AND NATURAL GAS CORPORATION LIMITED Accounting Policies 3.22 Employee Benefits Employee benefits include salaries, wages, contributory provident fund, gratuity, leave encashment towards un-availed leave, compensated absences, post-retirement medical benefits and other terminal benefits. All short term employee benefits are recognized at their undiscounted amount in the accounting period in which they are incurred. Defined contribution plans Employee Benefit under defined contribution plans comprising contributory provident fund, Post Retirement benefit scheme, Employee Pension Scheme- 1995, composite social security scheme etc. is recognized based on the undiscounted amount of obligations of the Group to contribute to the plan. The same is paid to a fund administered through a separate trust. Defined benefit plans Defined retirement benefit plans comprising of gratuity, post-retirement medical benefits and other terminal benefits, are recognized based on the present value of defined benefit obligation which is computed using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. These are accounted either as current employee cost or included in cost of assets as permitted. Net interest on the net defined liability is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset and is recognised in the Statement of Profit and Loss except those included in cost of assets as permitted. Remeasurement of defined retirement benefit plans except for leave encashment towards un-availed leave and compensated absences, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding net interest as defined above), are recognised in other comprehensive income except those included in cost of assets as permitted in the period in which they occur and are not subsequently reclassified to profit or loss. The Group contributes all ascertained liabilities with respect to gratuity to the respective Gratuity Fund Trust. All ascertained liabilities for un-availed leave are funded with Life Insurance Corporation of India (LIC) except in case of some subsidiaries. Other defined benefit schemes are unfunded. The retirement benefit obligation recognised in the Consolidated Financial Statements represents the actual deficit or surplus in the Group’s defined benefit plans. Any surplus resulting from this calculation is limited to the present value of any economic benefits available in the form of reductions in future contributions to the plans. Other long term employee benefits Other long term employee benefit comprises of leave encashment towards un-availed leave and compensated absences, these are recognized based on the present value of defined obligation which is computed using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. These are accounted for either as current employee cost or included in cost of assets as permitted.

|155| Chap. 9 – Ind AS 19 — Employee Benefits Re-measurements of leave encashment towards un-availed leave and compensated absences are recognized in the Statement of profit and loss except those included in cost of assets as permitted in the period in which they occur. 3.23 Voluntary Retirement Scheme Expenditure on Voluntary Retirement Scheme (VRS) is charged to the Consolidated Statement of Profit and Loss when incurred. Disclosures 46 Employee benefit plans 46.1 Defined Contribution plans: 46.1.1 Provident Fund In case of Company The Company pays fixed contribution to provident fund at predetermined rates to a separate trust, which invests the funds in permitted securities. The obligation of the Group is to make such fixed contribution and to ensure a minimum rate of return to the members as specified by GoI. As per report of the actuary, overall interest earnings and cumulative surplus is more than the statutory interest payment requirement. Hence, no further provision is considered necessary. The details of fair value of plan assets and obligations are as under: Particulars Year ended 31 March 2019 Year ended 31 March 2018 Obligations at the end of the year 127,093.45 120,412.14 Fair Value of Plan Assets at the end of the year 127,675.14 121,139.39 Provident Fund is governed through a separate trust. The board of trustees of the Trust functions in accordance with any applicable guidelines or directions that may be issued in this behalf from time to time by the Central Government or the Central Provident Fund Commissioner, the board of trustees have the following responsibilities: (i) Investments of the surplus as per the pattern notified by the Government in this regard so as to meet the requirements of the fund from time to time. (ii) Raising of moneys as may be required for the purposes of the fund by sale, hypothecation or pledge of the investment wholly or partially. (iii) Fixation of rate of interest to be credited to members’ accounts. 46.1.2 Post Retirement Benefit Scheme The defined contribution pension scheme of the Group for its employees is administered through a separate trust. The obligation of the Group is to contribute to the trust to the extent of amount not exceeding 30% of basic pay and dearness allowance as reduced by the employer’s contribution towards provident fund, gratuity, Post-Retirement Medical Benefit (PRMB) or any other retirement benefits. The board of trustees of the Trust functions in accordance with any applicable guidelines or directions that may be issued in this behalf from time to time by the Central Government, the board of trustees have the following responsibilities: (i) Investments of the surplus as per the pattern notified by the Government in this regard so as to meet the requirements of the fund from time to time. (ii) Fixation of rate of contribution and interest thereon. (iii) Purchase of annuities for the members. 46.2 Employee Pension Scheme 1995 The Employee Pension Scheme -1995 is administered by Employees Provident Fund Organization of India, wherein the Group has to contribute 8.33% of salary (subject to maximum of ` 15,000 per month) out of the employer’s contribution to Provident Fund.

|156| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 46.3 Composite Social Security Scheme (CSSS) The Composite Social Security Scheme is formulated by the Group for the welfare of its regular employees and it is administered through a separate Trust, named as Composite Social Security Scheme Trust. The obligation of the Group is to provide matching contribution to the Trust to the extent of contribution of the regular employees of the group. The Trust provides an assured lump sum support amount in the event of death or permanent total disablement of an employee while in service. In case of Separation other than Death/ Permanent total disability, employees own contribution along with interest is refunded. The Board of trustees of the Trust functions in accordance with Trust deed, Rule, Scheme and applicable guidelines or directions that may be issued by Management from time to time. The Board of trustees has the following responsibilities: (i) Investments of the surplus as per the pattern notified by the Government in this regard so as to meet the requirements of the fund from time to time. (ii) Fixation of rate of interest to be credited to members’ accounts. (iii) To provide cash benefits to the nominees in the event of death of an employee or Permanent Total Disablement leading to the cessation from service and refund of own contribution along with interest in case of separation other than death. 46.4 The following are the amounts before allocation recognized in the consolidated financial statements for the defined contribution plan: (` in million) Defined Contribution Plans Amount recognized during Contribution for key management personnel 2018-19 2017-18 2018-19 2017-18 Provident Fund 4,301.00 4,436.38 2.47 1.75 Post Retirement Benefit Scheme 5,842.16 5,981.42 3.23 2.21 Employee Pension Scheme-1995 (EPS) 355.27 379.69 0.08 0.02 Composite Social Security Scheme (CSSS) 577.87 599.09 0.20 0.13 46.5 Defined benefit plans 46.5.1 Brief Description: A general description of the type of Employee Benefits Plans is as follows: 46.5.2 All the employee benefit plans of the Group are run as Group administration plans (Single Employer Scheme) including employees seconded to ONGC Videsh Limited (OVL), 100% subsidiary. 46.5.3 Gratuity 15 days salary for each completed year of service. Vesting period is 5 years and the payment is restricted to ` 2 million on superannuation, resignation, termination, disablement or on death. Scheme is funded through own Gratuity Trust. The liability for gratuity as above is recognized on the basis of actuarial valuation. 46.5.4 Post-Retirement Medical Benefits The Group has Post-Retirement Medical benefit (PRMB), under which the retired employees, their spouses and dependent parents are provided medical facilities in the Group hospitals/empanelled hospitals up on payment of one time prescribed contribution by the employees. They can also avail treatment as out-patient. The liability for the same is recognized annually on the basis of actuarial valuation. Full medical benefits on superannuation and on voluntary retirement are available subject to the completion of minimum 20 years of service and 50 years of age. An employee should have put in a minimum of 15 years of service rendered in continuity in ONGC at the time of superannuation to be eligible for availing post-retirement medical facilities 46.5.5 Terminal Benefits At the time of superannuation, employees are entitled to settle at a place of their choice and they are eligible for Settlement Allowance.

|157| Chap. 9 – Ind AS 19 — Employee Benefits 46.5.6 Pension The employees covered by the Pension Plan of the Group are entitled to receive monthly pension for life. 46.5.7 Ex-gratia The ex-employees of Group covered under the Scheme are entitled to get ex-gratia based on the grade at the time of their retirement. The benefit will be paid to eligible employees till their survival, and after that, till the survival of their spouse. 46.5.8 These plans typically expose the Group to actuarial risks such as: investment risk, interest rate risk, longevity risk and salary risk. Investment risk The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds. When there is a deep market for such bonds; if the return on plan asset is below this rate, it will create a plan deficit. Currently, for these plans, investments are made in government securities, debt instruments, Short term debt instruments, Equity instruments and Asset Backed, Trust Structured securities as per notification of Ministry of Finance. Interest risk A decrease in the bond interest rate will increase the plan liability; however, this will be partially offset by an increase in the return on the plan’s investments. Longevity risk The present value of the defined benefit plan liability is calculated by reference to the best estimate of the mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability. Salary risk The present value of the defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of the plan participants will increase the plan’s liability. No other post-retirement benefits are provided to these employees. In respect of the above plans, the most recent actuarial valuation of the plan assets and the present value of the defined benefit obligation were carried out as at March 31, 2019 by a member firm of the Institute of Actuaries of India. The present value of the defined benefit obligation, and the related current service cost and past service cost, were measured using the projected unit credit method. 46.6 Other long term employee benefits 46.6.1 Brief Description: A general description of the type of Other long term employee benefits is as follows: 46.6.2 All the employee benefit plans of the Group are run as Group administration plans (Single Employer Scheme) including employees seconded to ONGC Videsh Limited (OVL), 100% subsidiary. 46.6.3 Earned Leave (EL) Benefit Accrual – 30 days per year Encashment while in service – 75% of Earned Leave balance subject to a maximum of 90 days per calendar year Encashment on retirement – maximum 300 days Scheme is funded through Life Insurance Corporation of India (LIC). 46.6.4 Good Health Reward (Half pay leave) Accrual - 20 days per year Encashment while in service - Nil Encashment on retirement - 50% of Half Pay Leave balance. Scheme is funded through Life Insurance Corporation of India. (LIC). The liability for the same is recognized annually on the basis of actuarial valuation.

|158| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 46.7 The principal assumptions used for the purposes of the actuarial valuations were as follows: S.No. Particulars 31-Mar-19 31-Mar-18 Gratuity I Discount rate 7.60% -7.79% 7.66% -7.88% II Expected return on plan assets 7.60% -7.79% 7.66% -7.88% III Annual increase in salary 5.00%-8.00% 5.50%-8.00% Leave IV Discount rate 7.70% -7.77% 7.66% -7.85% V Expected return on plan assets 7.77% 7.66% -7.85% VI Annual increase in salary 5.00% -7.50% 5.00%-6.5% Post-Retirement Medical Benefits VII Discount rate 7.77% -7.79% 7.66% -7.85% VIII Expected return on plan assets 7.78% 7.76% IX Annual increase in costs 3.00% - 7.50% 3.00% - 6.50% Terminal Benefits X Discount rate 7.77%-7.79% 7.66%-7.88% XI Expected return on plan assets NA NA XII Annual increase in costs 7.50% 6.50% XIII Annual increase in salary 7.00%-7.50% 5.50%-7.00% XIV Pension 7.47% 5.50%-8.00% Employee Turnover (%) XV Up to 30 Years 3.00 3.00 XVI From 31 to 44 years 2.00 2.00 XVII Above 44 years 1.00 1.00 XVIII Weighted Average Duration of Present Benefit Obligations 12.31 11.82 Mortality Rate XIX Before retirement As per Indian Assured Lives Mortality Table (2006-08) XX After retirement As per Indian Assured Lives Mortality Table (2006-08) The discount rate is based upon the market yield available on Government bonds at the Accounting date with a term that matches. The salary growth takes account inflation, seniority, promotion and other relevant factors on long term basis. Expected rate of return on plan assets is based on market expectation, at the beginning of the year, for return over the entire life of the related obligation. 46.8 Amounts recognized in the Consolidated Financial Statements before allocation in respect of these defined benefit plans and other long term employee benefits are as follows: Gratuity (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 1,199.62 1,301.76 Past service cost and (gain)/loss from settlements - 76.84 Net interest expense 31.71 903.38 Increase or decrease due to adjustment in opening corpus consequent to audit 60.42 2.10 Additional contribution due to Pay Revision (221.96)

|159| Chap. 9 – Ind AS 19 — Employee Benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Components of defined benefit costs recognised in Employee Benefit expenses 1,291.74 2,062.12 Remeasurement on the net defined benefit liability: Return on plan assets (excluding amounts included in net interest expense) - Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 318.81 (827.52) Actuarial (gains) / losses arising from experience adjustments (1,103.39) (1,019.44) Return on Plan Assets (excluding amount included in net interest cost) (1,215.78) (252.54) Components of Remeasurement (2,000.35) (2,099.50) Total (708.61) (37.38) Leave (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 1,843.76 1,411.49 Past service cost and (gain)/loss from settlements - Net interest expense 312.13 670.33 Increase or decrease due to adjustment in opening corpus consequent to audit 165.19 Additional Contribution Due to Pay Revision - (178.46) Actuarial (gains)/losses arising from changes in demographic assumptions Actuarial (gains)/losses arising from changes in financial assumptions 1,553.72 (555.41) Actuarial (gains) / losses arising from experience adjustments 2,671.93 3,126.58 Return on Plan Assets (excluding amount included in net interest cost) 21.40 (560.23) Components of defined benefit costs recognised 6,568.13 3,914.30 Post-retirement medical benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 666.81 615.22 Past service cost and (gain)/loss from settlements - Net interest expense 2,923.25 2,738.01 Components of defined benefit costs recognised in Employee Benefit expenses 3,590.06 3,353.23 Remeasurement on the net defined benefit liability: Return on Plan Assets (excluding amount included in net interest cost) NA NA Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions (764.58) (960.56) Actuarial (gains) / losses arising from experience adjustments 6,451.94 3,630.08 Adjustments for restrictions on the defined benefit asset - - Components of Remeasurement 5,687.37 2,669.52 Total 9,277.42 6,022.75

|160| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Terminal Benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 80.86 51.86 Past service cost and (gain)/loss from settlements - - Net interest expense 51.56 45.96 Components of defined benefit costs recognised in Employee Benefit expenses 132.43 97.82 Remeasurement on the net defined benefit liability: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 58.54 (16.14) Actuarial (gains) / losses arising from experience adjustments 578.19 51.28 Adjustments for restrictions on the defined benefit asset - - Components of Remeasurement 636.72 35.14 Total 769.15 132.96 Pension (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost - - Past service cost and (gain)/loss from settlements - - Net interest expense 31.10 42.00 Components of defined benefit costs recognised in Employee Benefit expenses 31.10 42.00 Remeasurement on the net defined benefit liability: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 0.70 (9.10) Actuarial (gains) / losses arising from experience adjustments (193.00) (168.10) Adjustments for restrictions on the defined benefit asset - - Components of Remeasurement (192.30) (177.20) Total (161.20) (135.20) Ex – Gratia (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost Past service cost and (gain)/loss from settlements Net interest expense 21.00 21.50 Components of defined benefit costs recognised in Employee Benefit expenses 21.00 21.50 Remeasurement on the net defined benefit liability: Actuarial (gains)/losses arising from changes in demographic assumptions - -

|161| Chap. 9 – Ind AS 19 — Employee Benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Actuarial (gains)/losses arising from changes in financial assumptions 1.50 (5.20) Actuarial (gains) / losses arising from experience adjustments 0.10 9.80 Components of Remeasurement 1.60 4.60 Total 22.60 26.10 Gratuity Unfunded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 11.41 8.51 Past service cost and (gain)/loss from settlements - 2.18 Net interest expense 4.49 2.98 Components of defined benefit costs recognised in Employee Benefit expenses 15.89 13.67 Remeasurement on the net defined benefit liability: Actuarial (gains)/losses arising from changes in demographic assumptions - Actuarial (gains)/losses arising from changes in financial assumptions 2.61 (1.95) Actuarial (gains) / losses arising from experience adjustments 21.61 (1.20) Components of Remeasurement 24.21 (3.15) Total 40.11 10.52 Post-Retirement Medical Benefits: Funded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Service Cost : Current service cost 569.50 521.70 Net interest expense 6.60 64.10 Contribution by Employee (28.40) (63.70) Components of defined benefit costs recognised in Employee Benefit expenses 547.70 522.10 Remeasurement on the net defined benefit liability: Return on Plan Assets (excluding amount included in net interest cost) 15.80 (86.80) Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions (19.40) (293.70) Actuarial (gains) / losses arising from experience adjustments 14.90 408.20 Components of Remeasurement 11.30 27.70 Total 559.00 549.80 The Components of Remeasurement of the net defined benefit liability recognized in other comprehensive income is ` 4,591.57 million(Previous Year ` 1,248.00 million). 46.9 Movements in the present value of the defined benefit obligation and other long term employee benefits are as follows:

|162| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Gratuity (` in million) Particulars Year Ended 31- Mar-19 Year Ended 31- Mar-18 Opening defined benefit obligation 37,735.29 39,614.47 Current service cost 1,199.62 1,301.76 Interest cost 2,894.16 2,891.69 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 318.81 (827.52) Actuarial (gains) / losses arising from experience adjustments (1,103.39) (1,019.44) Past service cost, including losses/(gains) on curtailments - 76.84 Benefits paid (5,333.24) (4,302.50) Closing defined benefit obligation 35,711.25 37,735.29 Leave (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 27,718.92 28,680.26 Current service cost 1,843.76 1,411.49 Interest cost 2,123.46 2,096.80 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 1,553.72 (555.41) Actuarial (gains) / losses arising from experience adjustments 2,671.93 3,126.58 Past service cost, including losses/(gains) on curtailments - - Benefits paid (5,612.06) (7,040.80) Closing defined benefit obligation 30,299.73 27,718.92 Post-retirement medical benefits: Unfunded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 38,111.19 37,455.40 Current service cost 666.81 615.22 Interest cost 2,923.25 2,738.01 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions (764.58) (960.56) Actuarial (gains) / losses arising from experience adjustments 6,451.94 3,630.08 Past service cost, including losses/(gains) on curtailments - - Benefits paid (2,806.09) (5,366.96) Closing defined benefit obligation 44,582.53 38,111.19

|163| Chap. 9 – Ind AS 19 — Employee Benefits Terminal Benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 668.97 630.06 Current service cost 80.86 51.86 Interest cost 51.56 45.96 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 58.54 (16.14) Actuarial (gains) / losses arising from experience adjustments 578.19 51.28 Past service cost, including losses/(gains) on curtailments - - Benefits paid (204.63) (94.05) Closing defined benefit obligation 1,233.48 668.97 Pension (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 411.10 590.30 Current service cost - - Interest cost 31.10 42.00 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 0.70 (9.10) Actuarial (gains) / losses arising from experience adjustments (193.00) (168.10) Past service cost, including losses/(gains) on curtailments Benefits paid (36.70) (44.00) Closing defined benefit obligation 213.20 411.10 Ex – Gratia (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 273.10 303.50 Current service cost - - Interest cost 21.00 21.50 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 1.50 (5.20) Actuarial (gains) / losses arising from experience adjustments 0.10 9.80 Past service cost, including losses/(gains) on curtailments Benefits paid (52.60) (56.50) Closing defined benefit obligation 243.10 273.10

|164| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Gratuity Unfunded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 55.30 38.42 Current service cost 11.41 8.51 Interest cost 4.49 2.98 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions 1.19 (1.95) Actuarial (gains) / losses arising from experience adjustments 23.03 (1.20) Past service cost, including losses/(gains) on curtailments - 2.18 Benefits paid (1.29) (1.34) Closing defined benefit obligation 94.11 47.60 Post-retirement medical benefits: Funded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening defined benefit obligation 7,120.50 6,467.90 Current service cost 569.50 521.70 Interest cost 552.60 481.90 Remeasurement (gains)/losses: Actuarial (gains)/losses arising from changes in demographic assumptions - - Actuarial (gains)/losses arising from changes in financial assumptions (19.40) (293.70) Actuarial (gains) / losses arising from experience adjustments 14.90 408.20 Past service cost, including losses/(gains) on curtailments - - Benefits paid (499.80) (465.50) Closing defined benefit obligation 7,738.30 7,120.50 46.10 The amount included in the Group Balance sheet arising from the entity’s obligation in respect of its defined benefit plan and other long term employee benefits is as follows: Gratuity Funded (` in million) Particulars Year Ended 31- Mar-19 Year Ended 31- Mar-18 Present value of funded defined benefit obligation 35,711.25 37,735.29 Fair value of plan assets 36,419.67 34,104.29 Funded status - Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation (708.42) 3,631.00 The amounts included in the fair value of plan assets of gratuity fund in respect of Reporting Enterprise’s own financial instruments and any property occupied by, or other assets used by the reporting enterprise are Nil (As at March 31, 2018 Nil).

|165| Chap. 9 – Ind AS 19 — Employee Benefits Leave (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 30,299.73 27,718.92 Fair value of plan assets 23,725.32 23,811.75 Funded status (6,574.41) (3,907.16) Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 6,574.41 3,907.16 Post-retirement medical benefits: Unfunded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 44,582.53 38,111.19 Fair value of plan assets NA NA Funded status NA NA Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 44,582.53 38,111.19 Terminal Benefits (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 1,233.48 668.97 Fair value of plan assets - - Funded status NA NA Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 1,233.48 668.97 Pension (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 213.20 411.10 Fair value of plan assets - - Funded status NA NA Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 213.20 411.10 Ex – Gratia (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 243.10 273.10 Fair value of plan assets - - Funded status NA NA Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 243.10 273.10

|166| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Gratuity Unfunded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 94.11 47.60 Fair value of plan assets - - Funded status NA NA Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 94.11 47.60 Post-Retirement Medical Benefits: Funded (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Present value of funded defined benefit obligation 7,738.30 7,120.50 Fair value of plan assets 7,683.00 7,036.20 Funded status (55.30) (84.30) Restrictions on asset recognized NA NA Net liability arising from defined benefit obligation 55.30 84.30 46.11 Movements in the fair value of the plan assets are as follows : Gratuity (` in million) Particulars Year Ended 31- Mar-19 Year Ended 31- Mar-18 Opening fair value of plan assets 34,104.29 27,234.66 Adjustment in opening corpus consequent to audit (60.42) (2.10) Expected return on plan assets 2,862.45 1,988.29 Return on plan assets (excluding amounts included in net interest expense) 1,215.78 252.54 Contributions from the employer 3,630.81 8,921.27 Benefits paid (5,333.24) (4,290.37) Closing fair value of plan assets 36,419.67 34,104.29 Expected Contribution in respect of Gratuity for next year will be ` 1,268.96 million (For the year ended March 31, 2018 ` 1,277.68 million). The group has recognized a gratuity liability of ` 100.22 million as on March 31, 2019 (As at March 31, 2018 ` 72.35 million) as per actuarial valuation for 231 employees (As at March 31, 2018 – 256 employees) contingent Employees engaged in different work centers. Leave (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening fair value of plan assets 23,811.75 19,513.91 Adjustment in opening corpus consequent to audit (165.19) - Expected return on plan assets 1,811.33 1,426.47 Return on plan assets (excluding amounts included in net interest expense) (21.40) 560.23 Contributions from the employer 3,899.99 9,350.07 Benefits paid (5,611.17) (7,038.92) Closing fair value of plan assets 23,725.32 23,811.75

|167| Chap. 9 – Ind AS 19 — Employee Benefits Post-Retirement Medical Benefits: (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Opening fair value of plan assets 7,036.20 5,608.50 Adjustment in opening corpus consequent to audit - - Expected return on plan assets 546.00 417.80 Return on plan assets (excluding amounts included in net interest expense) (15.80) 86.80 Contributions from the employer 116.60 1,388.60 Benefits paid - (465.50) Closing fair value of plan assets 7,683.00 7,036.20 46.12 The fair value of the plan assets at the end of the reporting period for each category, are as follows. (` in million) Particulars Year Ended 31-Mar-19 Year Ended 31-Mar-18 Gratuity: Cash and cash equivalents 1.02 7.62 Investments in Mutual Fund: - Mutual Fund 21.73 20.41 Debt investments categorized by issuers' credit rating: AAA 1,674.30 2,299.24 AA+ 5.01 7.02 AA 2.03 6.00 AA- - - A+ - 4.00 A- 3.01 - BBB+ 3.01 Group Gratuity Cash Accumulation Scheme (Traditional Fund) Life Insurance Corporation 20,490.71 21,740.60 SBI Life 3,293.01 1,328.57 Bajaj Allianz 137.01 121.78 HDFC Standard Life Insurance Co. 140.00 124.77 Birla Sunlife Insurance Co. 70.26 55.02 46.12.1 The fair values of the above equity and debt instruments are determined based on quoted market prices in active markets. 46.12.2 Cost of Investment is taken as fair value of Investment in Unit Linked Plan of Insurance Group (ULIPs) and Bank TDR. 46.12.3 All Investments in PSU Bonds, Government Securities and Treasury Bills are quoted in active market. 46.12.4 Fair value of Investment in Group Gratuity Cash Accumulation Scheme (Traditional Fund) of Insurance Group is taken as book value on reporting date. 46.12.5 Net Current Assets represent Accrued Interest on Investments minus outstanding gratuity reimbursements as on reporting date. 46.12.6 The actual return on plan assets of gratuity during FY 2018-19 was `3,666.99 million (during FY 2017-18 ` 1,852.06 million) and for Leave ` 1,789.93 million (during FY 2017-18 `1,986.70 million) 46.13 Significant actuarial assumptions for the determination of the defined obligation are discount rate and expected salary increase. The sensitivity analyses below have been determined based on reasonably possible

|168| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. 46.13.1 Sensitivity Analysis as on March 31, 2019 Significant actuarial assumptions Gratuity Leave Post-Retirement Medical Benefits Terminal Benefits Discount Rate - Impact due to increase of 50 basis points (642.34) (885.92) (2,101.39) (32.27) - Impact due to decrease of 50 basis points 684.52 950.78 2,296.76 34.63 Salary increase - Impact due to increase of 50 basis points 163.05 948.68 — — - Impact due to decrease of 50 basis points (164.99) (892.08) — — Cost increase - Impact due to increase of 50 basis points — — 2,227.67 34.56 - Impact due to decrease of 50 basis points — — (2,130.44) (32.49) For HPCL: 31-Mar-19 Gratuity PRMBS Pension Ex -Gratia Resettlement Allowance Delta effect of +1% Change in Rate of Discounting (431.40) (870.90) (7.70) (7.20) (7.00) Delta effect of -1% Change in Rate of Discounting 490.30 1,093.30 8.40 7.80 8.10 Delta effect of +1% Change in Future Benefit cost inflation — 1,100.80 — — — Delta effect of -1% Change in Future Benefit cost inflation — (880.20) — — — Delta effect of +1% Change in Rate of Salary Increase 135.40 — — — — Delta effect of -1% Change in Rate of Salary Increase (151.30) — — — — Delta effect of +1% Change in Rate of Employee Turnover 150.70 — — — (7.80) Delta effect of -1% Change in Rate of Employee Turnover (168.60) — — — 9.00 For MRPL: Sensitivity Analysis as at March 31, 2019 (` in million) Significant actuarial assumptions Gratuity Post-Retirement Medical Benefits Resettlement Allowance Rate of discounting - Impact due to increase of 50 basis points (44.11) (5.09) (1.06) - Impact due to decrease of 50 basis points 47.78 5.65 1.17 Rate of salary increase - Impact due to increase of 50 basis points 15.56 — 1.17 - Impact due to decrease of 50 basis points (15.97) — (1.06) Rate of Employee turnover - Impact due to increase of 50 basis points 16.15 (2.02) 0.03 - Impact due to decrease of 50 basis points (17.15) 1.72 (0.04)

|169| Chap. 9 – Ind AS 19 — Employee Benefits For OMPL: Sensitivity Analysis as at March 31, 2019 (` in million) Significant actuarial assumptions Gratuity Discount Rate - Impact due to increase of 50 basis points (4.72) - Impact due to decrease of 50 basis points 5.26 Salary increase - Impact due to increase of 50 basis points 4.21 - Impact due to decrease of 50 basis points (4.22) Employee turnover - Impact due to increase of 50 basis points (0.09) - Impact due to decrease of 50 basis points 0.09 For ONGC and OVL: 46.13.2 Sensitivity Analysis as on March 31, 2018 (` in million) Significant actuarial assumptions Gratuity Leave PostRetirement Medical Benefits Terminal Benefits Discount Rate - Impact due to increase of 50 basis points (656.21) (751.51) (2,705.55) (14.66) - Impact due to decrease of 50 basis points 695.29 800.80 2,264.19 15.62 Salary increase - Impact due to increase of 50 basis points 172.24 805.91 — — - Impact due to decrease of 50 basis points (178.70) (762.91) — — Cost increase - Impact due to increase of 50 basis points — — 2,275.29 15.71 - Impact due to decrease of 50 basis points — — (2,691.89) (14.87) For HPCL: 31-Mar-19 Gratuity PRMBS Pension Ex -Gratia Resettlement Allowance Delta effect of +1% Change in Rate of Discounting (447.90) (819.80) (19.10) (8.40) (7.20) Delta effect of -1% Change in Rate of Discounting 506.70 1,029.50 21.30 9.00 8.40 Delta effect of +1% Change in Future Benefit cost inflation — 1,036.60 — — — Delta effect of -1% Change in Future Benefit cost inflation — (828.70) — — — Delta effect of +1% Change in Rate of Salary Increase 151.00 — — — — Delta effect of -1% Change in Rate of Salary Increase (167.80) — — — —

|170| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts 31-Mar-19 Gratuity PRMBS Pension Ex -Gratia Resettlement Allowance Delta effect of +1% Change in Rate of Employee Turnover 152.00 — — — (8.00) Delta effect of -1% Change in Rate of Employee Turnover (169.20) — — — 9.30 For MRPL: Sensitivity Analysis as at March 31, 2018 (` in million) Significant actuarial assumptions Gratuity Post-Retirement Medical Benefits Resettlement Allowance Rate of discounting - Impact due to increase of 50 basis points (69.32) (4.74) (0.70) - Impact due to decrease of 50 basis points 80.82 5.27 0.78 Rate of salary increase - Impact due to increase of 50 basis points 34.95 — 0.79 - Impact due to decrease of 50 basis points (37.85) — (0.72) Rate of Employee turnover - Impact due to increase of 50 basis points 29.79 (1.90) 0.20 - Impact due to decrease of 50 basis points (33.37) 1.60 (0.22) For OMPL: Sensitivity Analysis as at March 31, 2018 (` in million) Significant actuarial assumptions Gratuity Discount Rate - Impact due to increase of 50 basis points (2.48) - Impact due to decrease of 50 basis points 2.76 Salary increase - Impact due to increase of 50 basis points 2.72 - Impact due to decrease of 50 basis points (2.47) Employee turnover - Impact due to increase of 50 basis points (0.13) - Impact due to decrease of 50 basis points 0.14 The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Sensitivity due to mortality & withdrawals are not material & hence impact of change not calculated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the balance sheet.

|171| Chap. 9 – Ind AS 19 — Employee Benefits 46.14 Maturity Profile of Defined Benefit Obligation and other long term employee benefits: For ONGC and OVL: (` in million) Defined Benefit: 31-Mar-19 31-Mar-18 Gratuity: Less than One Year 5,222.09 5,324.54 One to Three Years 2,949.63 4,127.26 Three to Five Years 2,066.01 2,050.76 More than Five Years 16,252.15 16,948.99 Leave: Less than One Year 4,980.24 4,003.07 One to Three Years 6,996.17 6,753.92 Three to Five Years 5,272.23 5,104.01 More than Five Years 13,041.20 11,850.75 For HPCL (` in million) 31-Mar-19 Less than 1 Year 1-2 Year 2-5 Year 6-10 Year Gratuity 1,112.20 743.00 3,248.20 10,088.10 PRMBS 389.60 424.30 1,513.60 2,634.60 Pension 31.80 31.50 92.00 143.30 Ex - Gratia 44.30 43.70 126.90 194.00 Resettlement Allowance 12.40 7.30 42.90 171.30 Total 1,590.30 1,249.80 5,023.60 13,231.30 (` in million) 31-Mar-19 Less than 1 Year 1-2 Year 2-5 Year 6-10 Year Gratuity 1,044.50 729.50 3,272.50 4,275.20 PRMBS 336.10 368.20 1,327.30 2,342.30 Pension 51.10 50.80 149.80 239.10 Ex - Gratia 49.00 48.40 140.70 216.30 Resettlement Allowance 11.10 7.00 42.20 64.70 Total 1,491.80 1,203.90 4,932.50 7,137.60 For MRPL: (` in million) Defined Benefit: 31-Mar-19 31-Mar-18 Gratuity: Less than One Year 49.49 55.23 One to Three Years 108.58 89.60 Three to Five Years 122.20 111.20 More than Five Years 398.88 321.31

|172| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts Defined Benefit: 31-Mar-19 31-Mar-18 Post-Retirement Medical Benefits: Less than One Year 2.55 2.27 One to Three Years 5.70 5.06 Three to Five Years 6.52 5.90 More than Five Years 22.30 19.88 Resettlement Allowance: Less than One Year 0.39 0.35 One to Three Years 0.91 0.75 Three to Five Years 0.89 0.75 More than Five Years 2.66 2.06 3. TATA COMMUNICATIONS LIMITED Accounting Policies n. Employee benefits Employee benefits include contribution to provident fund, employee state insurance scheme, gratuity fund, pension, compensated absences and post-employment medical benefits. i. Short term employee benefits The undiscounted amount of short term employee benefits expected to be paid in exchange for services rendered by employees is recognised during the period when the employee renders the service. These benefits include compensated absences such as paid annual leave and performance incentives payable within twelve months. ii. Postretirement benefits Contributions to defined contribution retirement benefit schemes are recognised as an expense when employees have rendered services entitling them to the contributions. For defined benefit schemes, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial valuations being carried out at each balance sheet date which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measure each unit separately to build up the final obligation. Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling (if applicable), excluding amounts included in net interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they occur. Re-measurements are not reclassified to the Consolidated Statement of Profit and Loss in subsequent periods. Past service cost is recognised in the Consolidated Statement of Profit and Loss in the period of plan amendment. Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The net interest expense or income is recognised as part of finance cost in the Consolidated Statement of Profit and Loss. The Group recognises changes in service costs comprising of current service costs, past service costs gains and losses on curtailments and non-routine settlements under employee benefit expenses in the Consolidated Statement of Profit and Loss. The retirement benefit obligation recognised in the balance sheet represents the present value of the defined benefit obligation as adjusted for unrecognised past service cost, and as reduced by the fair value of scheme assets. Any asset resulting from this calculation is limited to past service cost, plus the present value of available refunds and reductions in future contributions to the scheme.

|173| Chap. 9 – Ind AS 19 — Employee Benefits iii. Other long-term benefits Compensated absences, which are not expected to occur within twelve months after the end of the period in which the employee renders the related services, are recognised as a liability at the present value of the defined benefit obligation at the balance sheet date. ii. Defined benefit plans The cost of the defined benefit plan, gratuity and other post-employment benefits and the present value of such obligations are determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date. Disclosure 37. Employee benefits (A) Indian entities (Defined benefit plan): Retirement Benefits Provident fund: The Company makes contribution towards provident fund (the ‘Fund’) under a defined benefit plan for employees which is is administered by the Trustees of the Tata Communications Employees’ Provident Fund Trust (the ‘Trust’). The Company’s Indian subsidiaries make contribution towards provident fund under a defined contribution plan for employees which is administered by the Regional Provident Fund Commissioner. Under both the above schemes, each employer is required to contribute a specified percentage of payroll cost to fund the benefits. The rules of the Fund administered by the Trust require that if the Board of Trustees are unable to pay interest at the rate declared for Employees’ Provident Fund by the Government under the applicable law for the reason that the return on investment is lower or for any other reason, then the deficiency shall be made good by the Company. Having regard to the assets of the Fund and the return on the investments, the Company does not expect any deficiency in the foreseeable future. There has also been no such deficiency since the inception of the Fund. Provident fund contributions amounting to ` 43.91 crores (2017-2018: ` 43.27 crores) have been charged to the Consolidated Statement of Profit and Loss under Contribution to Provident and other funds in Note 26 “Employee Benefits”. There are numerous interpretative issues relating to the Supreme Court (SC) judgement on Provident Fund dated February 28, 2019. As a matter of caution, the Company has made a provision on a prospective basis from the date of the SC judgement. Gratuity: The Company and one of its Indian subsidiaries make annual contributions under the Employee’s Gratuity Scheme to a fund administered by trustees of the Tata Communications Employees’ Gratuity Fund Trust (the ‘Trust’) covering all eligible employees. The plan provides for lump sum payments to employees whose right to receive gratuity had vested at the time of resignation, retirement, death while in employment or on termination of employment of an amount equivalent to 15 day’s salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs upon completion of five years of service except in case of death. For other Indian subsidiaries, the gratuity plan is unfunded. Medical benefit: The Company reimburses domiciliary and hospitalisation expenses not exceeding specified limits incurred by eligible and qualifying employees and their dependent family members under the Tata Communication employee’s medical reimbursement scheme. Pension Plan: The Company’s pension obligations relate to certain employees transferred to the Company from the OCS, an erstwhile department of Ministry of Commerce, Government of India. The Company purchases life annuity policies from an insurance company to settle such pension obligations.

|174| Mandatory Accounting Standards (Ind AS) — Extracts from Published Accounts These plans typically expose the Group to actuarial risk such as investment risk, interest rate risk, longevity risk and salary risk: Investment risk The present value of the defined benefit plan liability is calculated using a discount rate which is determined by reference to market yields at the end of the reporting period on government bonds. Currently, the plan has a relatively balanced mix of investments in government securities, high quality corporate bonds, equity and other debt instruments. Interest rate risk The defined benefit obligation is calculated using a discount rate based on government bonds. If bond yields fall, the defined benefit obligation will tend to increase. Salary risk Higher than expected increases in salary will increase the defined benefit obligation Demographic risk This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee. The most recent actuarial valuation of the plan assets and defined benefit obligation has been carried out as at 31 March 2019 by an independent Actuary. The details in respect of the status of funding and the amounts recognised in the Company’s consolidated financial statements for the year ended 31 March 2019 and 31 March 2018 for these defined benefit schemes are as under: Particulars As at 31 March 2019 As at 31 March 2018 I. Principal actuarial assumptions: Discount rate 7.30% 7.50% Increase in compensation cost 6% to 7% 6% to 7% Health care cost increase rate 7.00% 7.00% Attrition rate 3% to 15 % 3% to 15% Post retirement mortality Annuitants mort 96-98 Annuitants mort 96-98 Annuitants mort 96-98 Increase in dearness allowance 5% 5% The discount rate is based on the prevailing market yields of Government of India securities as at the balance sheet date for the estimated term of the obligations. The estimates of future compensation cost considered in the actuarial valuation take into account inflation, seniority, promotion and other relevant factors. (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 II Change in the defined benefit obligation Obligation at the beginning of the period 133.81 113.63 114.81 113.72 31.59 31.59 Current service cost 11.55 10.57 0.67 0.70 - - Past service plan amendment 30.49 - - - Interest cost 9.36 7.76 8.09 7.73 2.13 1.91 Obligation transferred from / (to) other companies (0.02) (0.25) - - Actuarial (gains)/ losses – experience 0.19 (0.88) 9.87 9.19 (0.84) 9.29 Actuarial (gains)/ losses - Financial assumptions 1.86 (15.83) 2.53 (3.73) 0.65 (1.06) Benefit Paid (18.05) (11.68) (13.71) (12.80) (6.47) (10.14) Closing defined benefit obligation 138.70 133.81 122.26 114.81 27.06 31.59

|175| Chap. 9 – Ind AS 19 — Employee Benefits (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 III Change in fair value of Assets Opening fair value of plan assets 109.83 99.69 - - - - Interest income on plan assets 8.47 7.14 - - - - Employer’s contribution 23.68 11.02 - - - - Transfer (to)/from other company - 1.73 - - - - Return on plan assets greater/(lesser) than discount rate 1.83 3.61 - - - - Acquistion adjustments - (1.94) - - - - Benefits paid (17.76) (11.42) - - - - Closing fair value of plan assets 126.05 109.83 - - - - (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 IV Amount recognized in accumulated OCI Cumulative actuarial (gain) or loss recognised via OCI at prior period end (12.63) 7.69 33.27 27.81 24.49 16.26 OCI pertaining to discontinued operation - - - - - - Actuarial (gains)/losses recognised in OCI during the year 0.22 (20.32) 12.40 5.46 (0.19) 8.23 Cumulative actuarial (gain) or loss recognised via OCI period end (12.41) (12.63) 45.67 33.27 24.30 24.49 (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 V Amount recognized in the consolidated balance sheet Present value of obligations 138.69 133.81 122.26 114.81 27.06 31.59 Fair value of plan assets at the end of period (126.05) (109.83) - - Net (asset)/liability in the consolidated balance sheet 12.64 23.98 122.26 114.81 27.06 31.59 Non-current provisions (refer note 21A) 12.64 23.98 122.26 114.81 27.06 31.59 (` in crores) Particulars Gratuity Medical benefits (unfunded) Pension plan (unfunded) As at 31 March As at 31 March As at 31 March 2019 2018 2019 2018 2019 2018 VI Expenses recognised in the consolidated statement of Profit or Loss Current service cost (note 25) 11.55 10.57 0.67 0.70 - - Past service cost - plan amendments (note 25) - 30.49 - - - - Net interest cost (note 27) 0.89 0.62 8.09 7.73 2.13 1.91 Components of defined benefit costs recognized in the consolidated statement of Profit or Loss 12.44 41.68 8.76 8.43 2.13 1.91