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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.
(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 with the bidding documents stating that the unaudited
unconsolidated financial statements form part of the Consolidated
Annual Financial Statements of the company.
In cases 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 a 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.
NOTES FOR CLAUSE 7.2.0 ABOVE:
(i) Net worth means the sum total of the paid up share capital and free
reserves. Free reserves 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.