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 the 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.
2.0(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 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 bidding document, 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 result certified by a practicing
Chartered Accountant shall be considered acceptable. In case, Bidder is not able to
submit the certificate from a practising 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 bidding document 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
practising Chartered Accountant certifying the financial parameters is not available.
3.0 Financial Criteria of Collaborator/Associate of the Bidder.
3.0(a) The average annual turnover of the Collaborator / Associate, in the preceding
three(3) financial years as on the date of Techno-commercial bid opening, should
not be less than Rs 23.0 Lacs (Rupees Twenty three Lacs only).
In case the Collaborator / Associate does not satisfy the average annual turnover
criteria, stipulated above on its own, its holding company would be required to meet
the stipulated turnover requirement as above, provided that the net worth of such
holding company as on the last day of the preceding financial year is at least equal to
or more than the paid-up share capital of the holding company. In such an event, the
Collaborator/Associate would be required to furnish along with bidder’s Techno-
commercial bid, a Letter of Undertaking from its Holding company, supported by
Board resolution of the holding company, as per the format enclosed in the bid
documents, pledging unconditional and irrevocable financial support to the
Collaborator/Associate to honour the terms and conditions of the deed of Joint
Undertaking in case of award of the contract to the bidder with whom
Collaborator/Associate is associated.
3.0(b) The net worth of each Collaborator/Associate, as on the last day of the preceding
financial year (reckoned on the date of techno-commercial bid opening) should not be
less than 100% of the its paid -up share capital. In case the Collaborator/Associate
meets the requirement of Net worth based on the strength of its subsidiary(ies)