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 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 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 for the 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 practising
Chartered Accountant certifying the financial parameters is not available.
NOTES FOR CLAUSE 2 ABOVE :
Other income shall not be considered for arriving at annual turnover.
(
i)
(
ii) "Holding Company" and "Subsidiary" shall have the meaning ascribed to them
as per Companies Act of India.
(
iii) For Turnover indicated in foreign currency, the exchange rate as on seven (07) days
prior to the date of techno-commercial bid opening shall be used.
VI.
Notwithstanding anything stated above, the Employer reserves the right to assess
the capabilities and capacity of the Bidder/ his collaborators / associates/
subsidiaries / group companies to perform the contract, should the circumstances
warrant such assessment in the overall interest of the Employer.
VII.
NTPC reserves the right to reject any or all bids or cancel/withdraw the NIT for the
subject package without assigning any reason whatsoever and in such case no
bidder/intending bidder shall have any claim arising out of such action.
VIII. The bidding document is available online. A complete set of Bidding Documents may