DETAILED NOTICE INVITING TENDER (NIT)
Page 4 of 6
Letter of Undertaking from the holding company, supported 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.
6.2.3 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.
6.2.4 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.
6.2.5 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