Comapny 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 Networth 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.
9.5 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.
9.6 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.
9.7 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-Commercial
bid opening and the certificate from the practicing Chartered Accountant
certifying the financial parameters is not available.
Notes:
(i) Other income shall not be considered for arriving at annual turnover.
(ii) 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 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