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three (3) completed financial years as on first scheduled date of Techno-
commercial bid submission.
6.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 6.2.1
above on its own, its holding company would be required to meet the stipulated
turnover requirements at Cl. 6.2.1 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 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 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.
1. Copies of the unaudited unconsolidated financial statements of the bidder
along with copies of the audited consolidated financial statements of the
Holding Company.
2. 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.
6.2.4 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:
1. Other income shall not be considered for arriving at annual turnover.
2. “Holding company" and “Subsidiary Company” shall have the meaning
ascribed to them as per Companies Act of India.
7.0 NTPC reserves the right to reject any or all bids or cancel / withdraw the
Invitation for Bids without assigning any reason whatsoever and in such case no
bidder / intending bidder shall have any claim arising out of such action.