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.
7.2.2.0 Financial Criteria for the Collaborator(s) / Associate(s)
7.2.2.1 The average annual turnover of the Bidder seeking qualification through Route-2 Clause No. 7.1.2.0 for
the Collaborator(s) / Associate(s), in the preceding three (3) financial years as on the date of Techno-
commercial bid opening, should not be less than the INR 243 Million for different Collaborator(s) /
associate(s) as applicable.
In case the Collaborator/Associate does not satisfy the average annual turnover criteria above on its own,
its Holding Company would be required to meet the stipulated turnover requirements at Cl. 7.2.2.1 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 the Holding Company, supported by Board Resolution of the Holding Company, as
per the format enclosed with the bidding 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.
7.2.2.2 The Net Worth of each Collaborator/Associate, as on the last day of the preceding financial year as on
the date of Techno-commercial bid opening should not be less than 100% (hundred percent) of its paid-
up share capital. In case the Collaborator/Associate does not meet 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 companies wherever applicable. In such a case, however the
Net worth of the Collaborator/ Associate 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.
7.2.2.3 In case the Collaborator(s) / Associate(s) is not able to furnish its audited financial statements on stand
alone entity basis, the unaudited unconsolidated financial statements of the Collaborator(s) / Associate(s)
can be considered acceptable provided the Collaborator(s) / Associate(s) furnishes the following further
documents on substantiation of its qualification:
(i) Copies of the unaudited unconsolidated financial statements of the Collaborator(s) /
Associate(s) along with copies of the audited consolidated financial statements of the Holding
Company of Collaborator(s) / Associate(s).
(ii) A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed with the
bidding documents, stating that the unaudited unconsolidated financial statements form part
of the consolidated financial statements of the Holding Company of Collaborator/Associate.
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, Collaborator/Associate is not able to submit the Certificate from a
practicing Chartered Accountant certifying its financial parameters, the audited results of three