INVITATION FOR BID (IFB)
SECTION I : INVITATION FOR BIDS (IFB)
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2.1 The average annual turnover of the Bidder, in the preceding three (3) financial years
as on the date of Techno-Commercial bid opening, should not be less than Rs. 2637 Lakh
(Rs. Two Thousand Six Hundred and Thirty Seven Lakh only).
In case a bidder does not satisfy the financial criteria, stipulated above on its own , its
Holding Company would be required to meet the stipulated turnover requirements 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 Bidder would be required to furnish along with its 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 for the execution of the Contract
by the Bidder in case of award.
2.2 The Net Worth of the bidder as on the last day of the preceding financial year
(reckoned on the date of techno-commercial bid opening) should not be less than 100% of
the Bidder’s paid-up share capital. In case the Bidder meets 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% of their total paid-up share
capital. However individual, their Net worth should not be less than 75% 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 than75% 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 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:
(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) A 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 annual financial statements
of the Holding Company.
In case 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