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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 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.
5.2.3
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.
5.2.4
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 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:
(i) Other income shall not be considered for arriving at annual turnover.
(ii) “Holding company “and “Subsidiary Company “shall have the meaning
ascribed to it them as per Companies Act of India.
(iii) ‘Holding Company’, in relation to one or more other companies, means a
company of which such companies are subsidiary companies.
‘Subsidiary Company’ or ‘subsidiary’, in relation to any other company (that is to
say the holding company) means a company in which the holding company-
a. Controls the composition of the Board of Directors or
b. Exercises or controls more than one-half of the total share capital
either at its own or together with one or more of its subsidiary
companies: provided that such class or classes of holding companies
as may be prescribed shall not have layers of subsidiaries beyond such
numbers as may be prescribed.
6.0 NTPC reserves the right to reject any or all bids or cancel / withdraw the
Invitation for Bids/NIT without assigning any reason whatsoever and in such case
no bidder / intending bidder shall have any claim arising out of such action.