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 in furnish its audited
financial statements on standalone entry basis. The unaudited
unconsolidated financial statement 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 financial
statements of the Holding Company.
(iii) In cases where audited results for the last financial
years 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 evaluation 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 Financial Criteria:
(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