The average annual turnover of the Bidder, in the preceding three (3) financial years
as on date of Techno-Commercial bid opening, should not be less than INR 15.50
crores. (Rupees fifteen crore fifty lacs only)
In case a Bidder does not satisfy the average annual 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 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% (hundred percent) of it's paid
up share capital as on the last day of the preceding financial year on 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 Subsidiaries of its Holding
Companies wherever applicable. In such case, 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. For a
Consortium/Joint Venture, Net worth of all Consortium/Joint Venture members in
combined manner should not be less than 100% (hundred percent) of their 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.
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.
In case the Bidder is not able to furnish its audited financial statements, the
Bidder can be considered acceptable provided the Bidder further furnishes the
following documents for substantiation of its qualification: