INVITATION FOR BID (IFB)
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.
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 :
(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 2.0:
(
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" shall have the meaning ascribed to them as per
Companies Act of India.
(iv) 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.
7. 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.
. Employer reserves the right to reject any or all bids or cancel/withdraw the Invitation for Bids without
assigning any reason whatsoever and in such case no bidder / intending bidder shall have any claim
arising out of such action.
8
9. A complete set of Bidding Documents may be downloaded by any interested Bidder from our NIC Portal
(
https://eprocurentpc.nic.in/nicgep/app).
Section I: Invitation For Bids (IFB):Version2
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