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 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.
2
.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.
2
.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.
2
.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
Section-I: Notice Inviting Tender
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