Company as on the last day of the preceding financial year is atleast 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 the Holding Company, supported by the Holding
Company's Board Resolution, as per the format enclosed in the bid documents,
pledging unconditional and irrevocable financial support for the execution of the
Contract by the Bidder in case of award.
6.2.3 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 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.
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.
6.2.4 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 conslidated financial statements
of its Holding Company.
(ii) (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.
6.2.5 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,