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wherever applicable. In such a 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.
7.2.3 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 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 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 financial statements of the Holding 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:
(i) For the purpose of qualifying requirement, one number of bay shall be
considered as a bay used for line/transformer/reactor/bus coupler/bus
transfer or bus section and comprising of atleast one circuit breaker, two
disconnectors and single phase current transformers.
(ii) 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.