DETAILED INVITATION FOR BIDS
Bidding Document No. CS-2220(R&M-MG)-500-9
RENOVATION OF 400/132 KV SWITCHYARD
2.2 Net worth of the bidder should not be less than 100% (one hundred percent) of its paid up share
capital as on the last day of the preceding financial year on the date of Techno-commercial bid
opening. In case the Bidder does not meet 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 company 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
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) 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.
(iv) For annual Turnover indicated in foreign currency, the exchange rate as on seven (7)
days prior to the date of Techno-Commercial bid opening shall be used.
7.0 NTPC 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.