INVITATION FOR BIDS
6.2.2.0 Financial Criteria for the Collaborator(s) / Associate(s)
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.2.2.1 The average annual turnover of the Bidder seeking qualification through Route-2 Clause No.6.1.2.0
for the Collaborator(s) / Associate(s), in the preceding three (3) financial years as on the date of
techno-commercial bid opening, should not be less than the INR 110 Million (Indian Rupees One
Hundred and Ten million only)for different Collaborator(s) / associate(s) as applicable.
In case the Collaborator/Associate does not satisfy the average annual turnover criteria above on its
own, its Holding Company would be required to meet the stipulated turnover requirements at Cl.
6.2.2.1 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 Collaborator/Associate would be required to furnish along with
bidder's Techno-Commercial bid, a Letter of Undertaking from the Holding Company, supported by
Board Resolution of the Holding Company, as per the format enclosed with the bidding 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
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.2.2.2 The Net Worth of each Collaborator/Associate, as on the last day of the preceding financial year as on
the date of Techno-commercial bid opening should not be less than 100% (hundred percent) of its
paid-up share capital. 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 companies 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.
In case the Collaborator(s) / Associate(s) is not able to furnish its audited financial statements on
stand-alone entity basis, the unaudited unconsolidated financial statements of the Collaborator(s) /
Associate(s) can be considered acceptable provided the Collaborator(s) / Associate(s) furnishes the
following further documents on substantiation of its qualification:
(
(
i)
Copies of the unaudited unconsolidated financial statements of the Collaborator(s) / Associate(s)
along with copies of the audited consolidated financial statements of the Holding Company of
Collaborator(s) / Associate(s).
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 of Collaborator/Associate.
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
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
COMBUSTION MODIFICATION SYSTEM PACKAGE
FOR BARAUNI TPP, STAGE-II (2x250MW)
BIDDING DOCUMENT NO. CS-8004-103A-9
SECTION - I (IFB)
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