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. In case a bid submitted by a Consortium, all the
partners of Consortium shall be collectively required to meet the turnover criteria.
(ii) The Net worth of the bidder 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 Bidder 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 case 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. For a Consortium, the net worth of all Consortium
members in combined manner should not be less than 100%(hundred percent)
of their 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 respective
paid up share capitals.
(iii) 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 bid documents, stating that the unaudited unconsolidated
financial statements form part of the Consolidated Annual Financial
Statements of the 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