irrevocable financial support for the execution of the Contract by
the bidder in case of award.
6.2.3 Net worth of bidder shall not be less than 100% 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% of their total paid up share
capital. However individually, their Net worth should not be less than
75% of their respective paid up share capitals. For Consortiums/Joint
Ventures, wherever applicable, the Net worth of all
consortium/Joint Venture members in combined manner should not
be less than 100% of their paid up share capital. However
individually, their Net worth should not be less than 75% 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 their respective paid up share capitals and Y1, Y2, Y3
are individual paid up share capitals.
6.2.4 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.
6.2.5 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