EPC package for Waste to Energy Project
(2x350 TPD) at Kawas GPS
BIDDING DOCUMENT NO. CS-2600-001-9
SECTION - I (IFB)
(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.
2.2.0 Financial Criteria of Collaborator/Associate (Applicable for clause 1.2.0 and 1.3.0)
2.2.1 The average annual turnover of the Collaborator/Associate, in the preceding three (3) financial years
as on the date of Techno-Commercial bid opening, should not be less than INR 910 Million (Indian
Rupees Nine hundred Ten Million only) or in equivalent foreign currency.
In case a Collaborator/Associate does not satisfy the average 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
bidder's 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 to the Collaborator/Associate to honour the terms and
conditions of the Deed of Joint Undertaking in case of award of the Contract to the Bidder with whom
Collaborator/Associate is associated.
2.2.2 Net worth of the Collaborator/Associate should not be less than 100% (hundred percent) of its paid up
share capital as on the last day of the preceding financial year on the date of Techno-commercial bid
opening. In case the Collaborator/Associate does not meet 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 company wherever applicable. In such a case, however
the Net worth of the Collaborator/Associate 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% (hundred
percent) of their total paid up share capital. However individually, their Net worth should not be less
than 75% (seventy five percent) 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.
2.2.3 In case the Collaborator/Associate is not able to furnish its audited financial statements on standalone
entity basis, the unaudited unconsolidated financial statements of the Collaborator/Associate can be
considered acceptable provided the Collaborator/Associate further furnishes the following documents
for substantiation of its qualification:
(i) Copies of the unaudited unconsolidated financial statements of the Collaborator/Associate 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, Collaborator/Associate 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