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preceding three (3) completed financial years as on the date of Techno-
commercial bid opening.
6.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 6.2.1
above on its own, its holding company would be required to meet the stipulated
turnover requirements at Cl. 6.2.1 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 bidder would be required to furnish along with its Techno-Commercial
bid, a Letter of Undertaking from the holding company, supported by 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.
6.2.3 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 in substantiation of its qualification. Copies of the unaudited
unconsolidated financial statements of the bidder along with copies of the audited
consolidated financial statements of the Holding Company. 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 Report of the company.
6.2.4 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 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:
i. Net worth means the sum total of the paid up share capital and free
reserves. Free reserves means all reserves credited out of the profits and
share premium account but does not include reserves credited out of the
revaluation of the assets, write back of depreciation provision and
amalgamation. Further any debit balance of Profit and Loss account and
miscellaneous expenses to the extent not adjusted or written off, if any,
shall be reduced from reserves and surplus.
ii. Other income shall not be considered for arriving at annual turnover.
iii. “Holding company" and “Subsidiary Company” shall have the meaning
ascribed to them as per Companies Act of India.
7.0 NTPC shall allow purchase preference, as indicated in the bidding documents, to
bids from local suppliers as defined in the bidding documents. The bidders may
apprise themselves of the relevant provisions of bidding documents in this regard
before submission of their bids.