IFB No.: CC/C&M/C-541
acceptable provided the Bidder furnishes the following further documents on substantiation of
its qualification:
a. Copies of the unaudited unconsolidated financial statements of the Bidder along with copies of
the audited consolidated financial statements of its Holding Company.
b. A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the
bidding documents, stating that the unaudited unconsolidated financial statements form part of
the consolidated financial statement 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 the Bidder is not able to submit the
Certificate from a practicing Chartered Accountant certifying its financial parameters, the
audited result 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.
6.3.0 Financial Criteria of Collaborator/Associate:
6.3.1 The average annual turnover of the Collaborator/Associate should not be less than INR 162
Lacs (Indian Rupees One Hundred Sixty Two Lacs Only) during the preceding three (3)
completed financial years as on date of techno-commercial bid opening.
In case a Collaborator/Associate 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 Collaborator/Associate 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 Collaborator/Associate in case of award.
6.3.2 Net Worth of the Collaborator/Associate as on the last day of the preceding financial year
should not be less than 100% (hundred percent) of Collaborator/Associate's paid-up share
capital. In case the Collaborator/Associate 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 Collaborator/Associate and its Subsidiary(ies) and/or Holding Company and/or
Subsidiary(ies) of its 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 per cent) 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.