DETAILED INVITATION FOR BIDS (IFB)
RIHAND SUPER THERMAL POWER PROJECT
STAGE-III (2X500 MW)
HELPER CELL FRP INDUCED DRAFT COOLING
TOWER PACKAGE
SECTION - I (IFB)
PAGE 4 OF 8
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 its Holding Company, supported by the Board
Resolution of the Holding Company, 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.
b) Net worth should not be less than 100% (hundred
percent) of the bidder’s paid up share capital as on the
last day of the preceding financial year. In case the
Bidder meets the requirement of Net worth based on the
strength of its Subsidiary (ies) and/or Holding Company
and/or Subsidiaries of its Holding companies wherever
applicable, 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.
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 paid up share
capitals.
c) In case the Bidder is not able to furnish its audited
financial statements on standalone 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 financial
statements of the Holding 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