Section-I: Notice Inviting Tender Page 4 of 6
by 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.
2.2.2 Net worth of bidder shall not be less than 100% of the bidder’s paid up share
capital as on the last day of the preceding financial year. In case the Bidder
meets 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, 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% of their total paid up share capital. However
individually, their Net worth should not be less than 75% of their respective paid
up share capitals. For Consortiums/Joint Ventures, wherever applicable, the Net
worth of all consortium/Joint Venture members in combined manner should not
be less than 100% of their paid up share capital. However individually, their Net
worth should not be less than 75% 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
their respective paid up share capitals and Y1, Y2, Y3 are individual paid up
share capitals.
2.2.3 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 in 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 in the bid documents, stating that the unaudited
unconsolidated financial statements form part of the Consolidated
Annual Report of the company.
2.2.4 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 practicing Chartered
Accountant certifying its financial parameters, the audited results of three
consecutive financial years preceding the last financial year shall be considered