documents, pledging unconditional and irrevocable financial support for the
execution of the Contract by the Bidder in case of award.
2.2 Net Worth of the Bidder as on the last day of the preceding financial year should not
be less than 100% (hundred percent) of bidder’s paid-up share capital. In case the
Bidder does not satisfy 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, 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% (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.
2.3 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 on substantiation of its qualification:
(a) Copies of the unaudited unconsolidated financial statements of the Bidder along
with copies of the audited consolidated financial statements of its Holding
Company.
(b) Certificate from the CEO/ CFO of the Holding Company, as per the format enclosed
in the bidding documents, stating that the unaudited unconsolidated financial
statements form part of the consolidated financial statement of the Holding
Company.
In case where audited results for the last financial year as on date of techno-
commercial bid opening are not available, the financial results certified by a
practicing Chartered Accountant shall be considered acceptable. In case the Bidder
is not able to submit the Certificate from a practicing Chartered Accountant
certifying its financial parameters, the audited result of three consecutive financial
years preceding the last financial year shall be considered for evaluating 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 techno-commercial bid opening and the Certificate
from a practicing Chartered Accountant certifying the financial parameters is not
available.
Notes for Clause 2.0