DETAILED INVITATION FOR BID
Development of Wind Solar Hybrid Power Project at NTPC Kudgi,
Karnataka
BIDDING DOCUMENT NO.: RE-CS-5908-004H-9
Corrigendum No.2
To
DETAILED IFB
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
Associate/Collaborator can be considered acceptable provided the Associate/Collaborator
further furnishes the following documents on substantiation of its qualification:
a) Copies of the unaudited unconsolidated financial statements of the
Associate/Collaborator 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 Associate/Collaborator 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.
Notes for Clause 2.0:
i. Net worth means the sum total of the paid up share capital and free reserves. Free
reserves 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.
iii. “Holding Company” and “Subsidiary” shall have the meaning ascribed to them as per
Companies Act of India.