(
i) The word “executed” means the Bidder should have achieved the criteria specified in the
qualifying requirements even if the contract has been started earlier and/or is not completed/
closed.
(
ii) Reference work executed by a bidder as a sub-contractor may also be considered provided
the certificate issued by main contractor is duly certified by Project Authority specifying the
scope of work executed by the sub-contractor in support of Qualifying Requirements.
2
.0
.1
Financial Criteria
2
The average annual turnover of the Bidder, in the preceding three (3) financial years as on
the date of Techno-Commercial bid opening, should not be less than Rs. 79.88 Lakh
(
Rupees Seventy Nine Lakh Eighty Eight Thousand only).
In case a bidder does not satisfy the financial criteria, stipulated above on its own, its Holding
Company would be required to meet the stipulated turnover requirements 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.
2.2
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 ABOVE :
(
i) Other income shall not be considered for arriving at annual turnover.
(
ii) "Holding Company" and "Subsidiary" shall have the meaning ascribed to them as per
Companies Act of India.