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.