SETTING UP OF 100 KWp NON-GENERATING FLOATING
PV PLANT AT RANN OF KUTCH
BIDDING DOCUMENT NO.: RE-CS-100KW(Kutch)-004-9
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.
2.3 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 on 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 Report of the Company.
In case where audited results for the last financial year as on date of techno-commercial bid
opening are not available, the financial results certified by a practicing Chartered
Accountant shall be considered acceptable. In case the Bidder is not able to submit the
Certificate from a practicing Chartered Accountant certifying its financial parameters, the
audited result of three consecutive financial years preceding the last financial year shall be
considered for evaluating 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 techno-commercial bid opening and the
Certificate from a practicing 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
reserves 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.