9.2.3 Net Worth of the bidder should not be less than 100% 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 meets the requirement
of Net Worth based on the strength of its Subsidiary(ies) and/or Holding
Company and/or Subsidiaries 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 Consortium/Joint Ventures, wherever applicable,
the Net worth of all consortiums/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.
9.2.4 Networth in combined manner shall be calculated as follows:-
Networth(combined)=(X1+X2+X3)/(Y1+Y2+Y3)x100 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.
9.2.5 In case the Bidder is not able to furnish its audited financial statements on
stand alone entity basis, the un-audited unconsolidated financial statements
of the Bidder can be considered acceptable provided the Bidder furnishes the
following further documents on substantiation of its qualification:
a. Copies of the un-audited unconsolidated financial statements of the bidder
along with copies of the audited consolidated financial statements of its
Holding Company.
b. A Certificate from the CEO/CFO of the Holding Company, as per the
format enclosed in the bidding documents, stating that the un-audited
unconsolidated financial statements form part of the Consolidated
Financial statements of the Holding Company.
9.3.4 In case the Bidder does not satisfy the annual turnover criteria, stipulated
above on its own, its Holding Company would be required to meet the
stipulated turnover requirements as above, provided that the Net Worth of
such Holding Company as on the last day of the preceding financial year is at
least equal to or more than the paid-up share capital of the Holding Company.
In such an event, the Bidder would be required to furnish along with its
Techno-Commercial bid, a Letter of Undertaking from its Holding Company,
supported by the Holding Company’s Board Resolution, as per the format
enclosed in the bidding documents, pledging unconditional and irrevocable
financial support for the execution of the Contract by the Bidder in case of
award.