4
(
.2.0 The Net Worth of the bidder as on the last day of the preceding financial year
b) (reckoned on the date of techno-commercial bid opening) should not be less than
00% of the Bidder’s paid-up share capital. In case the Bidder meets the requirement
1
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% of their
total paid-up share capital. However individually, their Net worth should not be less
than 75% 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.
4.2.0 In case the bidder is not able to furnish its audited financial statements on standalone
(
c)
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
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 practising
Chartered Accountant shall be considered acceptable. In case, Bidder is not able to
submit the certificate from practising Chartered Accountant certifying its financial
parameters, the audited results for the three consecutive financial years proceeding
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.
NOTE:
(
i)
Net worth means the sum total of the paid up share capital and free reserves. Free
reserve 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.