specifying the scope of work executed by the sub-contractor in support of qualifying
requirements.
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7
.2 Financial criteria:
.2.1 The average annual turnover of the Bidder, should not be less than ₹ 164.36 Lakh
(Rupees One Hundred Sixty-Four Lakh and Thirty-Six Thousand only) during the
preceding three (3) completed financial years as on the date of Techno-commercial
bid opening.
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.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 7.2.1
above on its own, its holding company would be required to meet the stipulated
turnover requirements at Cl. 7.2.1 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 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.
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.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.
1
. Copies of the unaudited unconsolidated financial statements of the bidder
along with copies of the audited consolidated financial statements of its
Holding Company.
2
. 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.
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.2.4 In cases where audited results for the last preceding 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 of 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 practicing Chartered Accountant certifying
the financial parameters is not available.
NOTES:
1
. Other income shall not be considered for arriving at annual turnover.
. “Holding Company" and “Subsidiary Company” shall have the meaning ascribed to
them as per Companies Act of India, in vogue.
2