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 standalone
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 its 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 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 for clause 6.2.0
i) Net worth means the sum total of the paid up share capital and free reserve. Free
reserve 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.
7.0 Notwithstanding anything stated above, the Employer reserves the right to assess the
capabilities and capacity of the Bidder/ his collaborators / associates/ subsidiaries/ group
companies to perform the contract, should the circumstances warrant such assessment in
the overall interest of the Employer.
8.0 Employer 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.
9.0 A complete set of Bidding Documents may be downloaded by any interested Bidder on
payment (non-refundable) of the cost of the documents as mentioned above in the form of