ENERGY MANAGEMENT PACKAGE FOR SMART
TOWNSHIP OF SOLAPUR & KHARGONE PROJECTS
BIDDING DOCUMENT NO. CS-9571/9578-241S-9
SECTION - I (IFB)
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.
b) Net worth should not be less than 100% (hundred percent) 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% (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:
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 the respective
paid up share capitals and Y1, Y2, Y3 are individual paid up share capitals.
c) 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 form
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 – commercial bid opening and the
Certificate from the 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 reserve. Free reserve
means all reserves credited out of the profits and share premium account but does not include