
2.2
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:
[(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
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 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 of the Techno-
Commercial Bid opening are not available, the
financials 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 that financial