Associate is clearly defined in the executed Joint Venture Agreement/Consortium Agreement/
Deed of Joint Undertaking and Bidder’s scope of work and breakup of quantities executed by
them as individual contribution in the Joint Venture/ Consortium/ Associate, duly
authenticated by the Project Authority, meet the relevant provisions of Qualifying
Requirement.
(iii) In case the reference work has been executed by the Bidder in an integrated Joint venture
where in allocation of scope of work and break-up of quantities between the partners is not
clearly specified in the integrated Joint Venture Agreement , then for clause 1.0 above, the
credit of executed quantities can be claimed by the bidder in the ratio of bidder’s share in the
integrated Joint Venture Agreement, provided the bidder establishes that it regularly
undertakes works as at clause 1.0 (as applicable) above. The executed works/quantities by
integrated Joint Venture shall be duly authenticated by the Project Authoritiy.However, the
bidder will not be eligible to claim the credit of executed work by integrated Joint Venture for
Clause 1,0 above.
(iv) Reference work executed by a bidder as a 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 subcontractor in support of qualifying requirements
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 INR 556.00 Lakh (Indian
Rupees Five Hundred Fifty Six Lakh only). In case a Bidder does not satisfy the
averageannual turnover criteria, stipulated above on its own, its Holding Company would be
required to meet the stipulated turnover requirements as 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 Techno - Commercial bid documents, pledging unconditional and
irrevocable financial support for the execution of the Contract by the Bidder in case of award
Net Worth of the bidder should not be less than 100% of the bidder’s paid up share capital as
on the last day of the preceding financial year of 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
Subsidiary(ies) or its Holding Companies, wherever applicable. In such a case, however, 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%(
one 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. Net worth in combined manner shall be calculated as follows: Net worth (combined)
= [(X1+X2+X3)/(Y1+Y2+Y3)]X100 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 paid up share capitals
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.
i) Copies of the unaudited unconsolidated financial statements of the Bidder along
with copies of the audited consolidated financial statements of its Holding
Company.
ii) A Certificate from the CEO/CFO of the holding Company, as per
the format enclosed with the bidding 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