
DETAILED INVITATION FOR BID
SSC WR-II, Sipat
Page
7 of 8
7.2.4. In case where audited results for the last financial year as on the date of Techno
Commercial Bid Opening are not available, the financial results certified by a practicing
Chartered Accountant shall be considered acceptable. In case, Bidder is not able to
submit the Certificate from practicing Chartered Accountant certifying its financial
parameters, the audited results of three consecutive financial years preceding the last
financial year shall be considered for evaluating the financial parameters. Further, a
certificate would be required from the CEO/CFO as per the format enclosed in the bidding
documents stating that the financial results of the Company are under audit as on the date
of Techno-Commercial Bid Opening and the Certificate from the practicing Chartered
Accountant certifying the financial parameters is not available
.
7.2.5. In case a bidder does not satisfy the financial criteria, stipulated at Cl. 7.2.1 and/ or
Cl.7.2.2above on its own, the holding company would be required to meet the stipulated
turnoverrequirements at Cl.7.2.1 above, provided that the net worth of such holding
company as on thelast day of the preceding financial year is atleast equal to or more than
the paid-up share capitalof the holding company. In such an event, the bidder would be
required to furnish along with itsbid, a Letter of Undertaking from the holding company,
supported by Board Resolution, as perthe 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.
Notes:
(i) Net worth means the sum total of the paid up share capital and free reserves. Free
reserve means all reserves credited out of the profits and share premium account but
does not include reserves credited out of the revaluation of the assets, write back of
depreciation provision and amalgamation. Further any debit balance of Profit and Loss
account and miscellaneous expenses to the extent not adjusted or written off, if any,
shall be reduced from reserves and surplus.
(ii) Other income shall not be considered for arriving at annual turnover.
(iii) “Holding Company” and “Subsidiary Company” shall have the meaning ascribed to
them as per Companies Act of India.
8.0 Notwithstanding anything stated above, the Employer reserves the right to assess the
capabilities and capacity of the Bidder/ his collaborators / associates/ subsidiaries/ group
companies to perform the contract, should the circumstances warrant such assessment in
the overall interest of the Employer.
9.0 Employer reserves the right to reject any or all bids or cancel/withdraw the Invitation for
Bids without assigning any reason whatsoever and in such case no bidder / intending
bidder shall have any claim arising out of such action.
Note: No hard copy Bidding Documents shall be issued.
10.0 Issuance of bid documents to any Bidder shall not construe that such bidder is considered
to be qualified. Bids shall be submitted online and opened at the address given below in the
presence of Bidder’s representatives who choose to attend the bid opening. Bidder shall