
CORRIGENDUM No. 04 to INVITATION FOR BID
HT Switchgear Package of Solapur Solar PV Project at Solapur in Maharashtra
BIDDING DOCUMENT NO.: RE-CS-5749-004(HT)-9
Corrigendum 04
Invitation For
Bids (IFB)
a) Bidder shall be considered qualified in case, the award for executing the
reference works has been received by the bidder either directly from owner of
plant or any other intermediary organization. However, a certificate from such
owner of Plant or the intermediary organization shall be required to be
furnished by the Bidder along with its techno-commercial bid in support of its
claim of meeting requirement stipulated above. Further, certificate from owner
of the plant shall also be furnished by the bidder along with the techno-
commercial bid for the successful operation as specified in Clause 1.1, 1.2 and
1.3 above.
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder, should not be less than INR 85 Lakhs
(Indian Rupees Eighty Five Lakhs only) during the preceding three (3) completed
financial years as on date of techno-commercial bid opening.
In case a Bidder does not satisfy the annual turnover criteria, stipulated above on its
own, its Holding Company would be required to meet the stipulated turnover
requirements as above, provided that the Net Worth of such Holding Company as on
the last day of the preceding financial year is at least equal to or more than the paid-
up share capital of the Holding Company. In such an event, the Bidder would be
required to furnish along with its Techno-Commercial Bid, a Letter of Undertaking
from the Holding Company, supported by the Holding Company’s Board Resolution,
as per the format enclosed in the bid documents, pledging unconditional and
irrevocable financial support for the execution of the Contract by the Bidder in case
of award.
2.2 Net Worth of the Bidder as on the last day of the preceding financial year should not
be less than 100% (hundred percent) of bidder’s paid-up share capital. In case the
Bidder does not satisfy the Net Worth criteria on its own, it can meet the requirement
of Net worth based on the strength of its Subsidiary(ies) and/or Holding Company
and/or Subsidiaries of its Holding companies wherever applicable. In such case,
however the Net worth of the Bidder and its Subsidiary(ies) and/or Holding Company
and/or Subsidiary(ies) of the Holding Company, in combined manner should not be
less than 100% (hundred percent) of their total paid up share capital. However
individually, their Net worth should not be less than 75% (seventy five percent) of their
respective paid up share capitals.
Net worth in combined manner shall be calculated as follows:
Net worth (combined) = (X1+X2+X3) / (Y1+Y2+Y3) X 100, where X1,X2,X3 are
individual Net worth which should not be less than 75% of the respective paid up
share capitals and Y1,Y2,Y3 are individual paid up share capitals.
2.3 In case the Bidder is not able to furnish its audited financial statements on standalone
entity basis, the unaudited unconsolidated financial statements of the Bidder can be