DETAILED INVITATION FOR BIDS
KERENDARI ‘A’ COAL MINING
PROJECT
BIDDING DOCUMENT NO. CS-7012-155-9
COAL HANDLING PLANT PART-A
SECTION - I (IFB)
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 the Holding
Company’s 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 Net Worth should not be less than 100% (hundred percent) of the Bidder’s paid-up share
capital as on the last day of the preceding financial year. In case the Bidder 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 Bidder 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
2. 3 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 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 the Holding Company.
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 statement of the Holding Company.
In case where audited results for the last financial year as on 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 a
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 for clause nos 2.0 above
i. Net worth means the sum total of the paid up share capital and free reserves. Free
reserve 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.