ii) The work completed by the bidder in the preceding seven (7) years reckoned as on
the date of techno -commercial bid opening , will also be considered as meeting the
qualifying requirements even if it has been started earlier.
2.0 Financial Criteria for Qualification:
2.1 The average annual turnover of the Bidder, in the preceding three (3) financial years as on
the date of Techno-Commercial bid opening, should not be less than INR 214.35 Lacs
In case a Bidder 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 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 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 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 with the bidding documents stating that the unaudited unconsolidated
financial statements from part of the consolidated financial statements of the
Holding Company.
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 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 β commercial bid opening and the certificate from the practicing
Chartered Accountant certifying the financial parameters is not available.
Notes for clause 2.0
i) Other income shall not be considered for arriving at annual turnover.
ii) "Holding Company" and "Subsidiary Company" shall have the meaning ascribed
to them as per Companies Act of India.