irrevocable financial support for the execution of the Contract by the
Bidder in case of award.
c) Net Worth of the bidder should not be less than 100% of the bidder's 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 meets the
requirement of Net worth based on the strength of its Subsidiary(ies)
and/or Holding Company and/or Subsidiariy(ies) of its Holding Companies,
wherever applicable, 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% of their total paid up
share capital. However individually, their Net worth should not be less than
75% of their respective paid up share capitals. For Consortiums/ Joint
Ventures, wherever applicable, the Net worth of all consortium/Joint
Venture members in combined manner should not be less than 100% of
their paid up share capital. However, individually, their Net worth should
not be less than 75% 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.
d) 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.
e) 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 that the
financial results of the Company are under audit as on the date of Techno-