DETAILED INVITATION FOR BIDS (IFB)
NABINAGAR THERMAL POWER PROJECT (4 X 250 MW)
BIDDING DOCUMENT NO. CS-0270-147(R)-2
BALANCE WORKS FOR
AIR CONDITIONING
SYSTEM PACKAGE
SECTION-I (IFB)
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 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.
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.