DETAILED INVITATION FOR BID
TANDA THERMAL POWER PROJECT
STAGE-II (2X660 MW)
BIDDING DOCUMENT NO.: CS-9562-147A-2
AIR CONDITIONING SYSTEM PACKAGE FOR
AUXILIARY BUILDINGS
SECTION-I (IFB)
Page
4 of 5
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.
b) The Net Worth of the Bidder should not be less than 100% (hundred percent) 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 does not satisfy the Net Worth
criteria on its own, it can meet the requirement of Net Worth based on the strength of its
Subsidiary (ies) and/or Holding Company and/or Subsidiaries of its Holding Company
wherever applicable. In such a case, however, 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% (hundred percent) of
their total paid-up share capital. However individually, their Net Worth 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 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.
In case 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
practicing Chartered Accountant certifying its financial parameters, the audited results for the
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
as per the format enclosed in the bid 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:
(i) Net worth means the sum total of the paid up share capital and free reserves. Free reserve
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 the extent not adjusted or written off, if any, shall be reduced
from reserves and surplus.
(ii) Other income shall not be considered for arriving at annual turnover.