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SECTION I NOTICE INVITING TENDER BALANCE WORK OF DRY ASH EVACUATION SYSTEM
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 stand-
alone 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 the 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 also 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 :
(i) Net worth means the sum total of the paid-up share capital and free
reserves. Free reserves means all reserves credited out of the profits and
share premium account but does not include reserves credited out of the
revaluation of the assets, write back of depreciation provision and
amalgamation. Further any debit balance of Profit and Loss account and
miscellaneous expenses to the extent not adjusted or written off, if any, shall
be reduced from reserves and surplus.
(ii) Other income shall not be considered for arriving at annual turnover.
(iii) “Holding Company” and “Subsidiary Company” shall have the meaning
ascribed to them as per Companies Act of India.
Notwithstanding anything stated above, the Employer reserves the right to
undertake a physical assessment of the capacity and capabilities including
financial capacity and capability of the Bidder / his Collaborator(s) /
Associate(s) / Subsidiary(ies) / Group Company(ies) to perform the Contract,