contractor is duly certified by Project Authority specifying the
scope of work executed by the sub-contractor in support of
Qualifying Requirements
4
.2.0 Financial Criteria
.2.1
4
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. 78.00 Lakh (Rupees
Seventy Eight Lakh Only)
Notes for Clause 4.2.0 above:
2
.1 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
NOTE:
(
i)
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