pledging unconditional and irrevocable financial support for the execution of the Contract by
the Bidder in case of award.
2.1.2 Bidder should have Positive Net Worth as on the last day of the preceding financial year.
2.1.3 In case the Bidder is not able to furnish its audited financial statements on standalone entity
basis, the unaudited unconsolidated financial statements of the Bidder can be considered
acceptable provided the Bidder further furnishes the following documents on substantiation
of its qualification:
a) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
b) Certificate from the CEO/ CFO of the Holding Company, as per the format enclosed in
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 the Bidder is not able to submit the
Certificate from a practicing Chartered Accountant certifying its financial parameters, the
audited result of three consecutive financial years preceding the last financial year shall
be considered for evaluating 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 techno-commercial bid
opening date and the Certificate from a practicing Chartered Accountant certifying the
financial parameters is not available.
2.2 FINANCIAL CRITERIA FOR ASSOCIATE / COLLABORATOR
2.2.1 The average annual turnover of its Associate / Collaborator, should not be less than INR 235
Crore (Indian Rupees two Hundred and thirty five Crore only) or in equivalent foreign
currency, during the preceding three (3) completed financial years as on the date of techno-
commercial bid opening.
In case a Associate/Collaborator does not satisfy the annual turnover criteria, stipulated
above on its own, its Holding Company would be required to meet the stipulated turnover
requirements 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 Associate/Collaborator 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 Associate/Collaborator in case of award.
2.2.2 Each Collaborator/Associate should have Positive Net Worth as on the last day of the
preceding financial year
2.2.3 In case the Associate/Collaborator is not able to furnish its audited financial statements on
standalone entity basis, the unaudited unconsolidated financial statements of the