DETAILED NOTICE INVITING TENDER (NIT)
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 The net worth of the Bidder as on the last day of the preceding financial year
should not be less than 100% of the paid-up share capital. 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, or as
a Consortium / Joint Venture, wherever applicable, the Net worth of the bidder
and its Subsidiary(ies) and / or Holding Company and /or Subsidiary(ies) of
the Holding Company or as a Consortium / Joint Venture, 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 their 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 in 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 the 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 Report of the 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, Bidder
is not able to submit the Certificate from 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 as per the format enclosed in the bidding 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 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 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.