furnished by the Bidder along with its techno-commercial bid in support of its claim
of meeting requirement stipulated above. Certificate from owner of the plant shall
also be furnished by the Bidder for successful operation of the reference plant.
f. In case of developer as bidder in clause 1.2 or 1.3, the documentary evidence
(certified by Chartered Accountant) for value of executed reference work must be
submitted by the Bidder.
g. Developer means an entity who has either executed or got executed the work/
project as owner of industrial projects.
h. The execution of industrial project as EPC Contractor under Clause No. 1.3 means,
such EPC Contractor is responsible for all the activities i.e. Design/Engineering,
Procurement, Construction and Commissioning of a project/work.
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Bidder should not be less than INR 788 Million
(INR Seven Hundred and Eighty eight million only) or equivalent foreign
currency during the preceding three (3) financial years as on date of techno-
commercial bid opening.
In case a Bidder 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 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 Net Worth of the Bidder as on the last day of the preceding financial year should not
be less than 100% (hundred percent) of bidder’s paid-up share capital. In case the
Bidder does not satisfy the Net Worth criteria on its own, it can meet 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% (hundred percent) of their total paid up share capital. However
individually, their Net worth should not be less than 75% (seventy five percent) of
their respective paid up share capitals.
Net worth in combined manner shall be calculated as follows: