DETAILED INVITATION FOR BID
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.
c) In case the Bidder is not able to furnish its audited financial statements on stand alone
entity basis, the unaudited unconsolidated financial statements of the Bidder can be
considered acceptable provided the Bidder further furnishes the following documents for
substantiation of its qualification:
i) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
ii) A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the
bid documents, stating that the unaudited unconsolidated financial statements form part of
the consolidated annual financial statements of the Holding Company.
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 the 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 bid 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.
6.4.2 Financial Criteria for Collaborator/Associate
a) The average annual turnover of the Collaborator/Associate, in the preceding three (3)
financial years as on the date of Techno-Commercial bid opening, should not be less than
Rs 132 Million (Indian Rupee One Hundred and ThirtyTwo Million only) or in equivalent
foreign currency.
In case a Collaborator/Associate does not satisfy the average 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 Collaborator/Associate 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 Collaborator/Associate in case of award.
b) The Net Worth of the Collaborator/Associate as on the last day of the preceding financial
year should not be less than 100% (hundred percent) of its paid-up share capital. In case
the Collaborator/Associate 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
HoldingCompany and/or Subsidiaries of its Holding Company wherever applicable. In such
a case, however, the Net Worth of the Collaborator/Associate 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.