INVITATION FOR BID (IFB)
SECTION I : INVITATION FOR BIDS (IFB)
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Notes for Clause 6.1.0 above:
(i) The work “executed” means the Bidder should have achieved the criteria specified in the
qualifying requirements even if the contract has been started earlier and / or is not
completed / closed.
(ii) Reference work executed by a bidder as it sub-contractor may also be considered
provided the certificate issued by main contractor is duly certified by Project Authority
specifying the scope of work executed by the sub-contractor in support of Qualifying
Requirements.
6.2.0 Financial Criteria for Qualification:
6.2.1 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. 386 Lakh
(Rupees Three Hundred and Eighty Six 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 f 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 should 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.
6.2.2 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 individually, 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.
6.2.3 In case the bidder is not able to furnish its audited financial statements on standaloneentity
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.