2
3
. In case of orders under execution, the value of work executed till the date of Techno-
commercial bid opening duly certified by owner shall be considered acceptable.
. Reference work executed by the bidder as a sub-contractor may also be considered provided
the certificate issued by main contractor is duly certified by owner specifying the scope of
work executed by the sub-contractor in support of qualifying requirements.
7
7
.2 Financial criteria:
.2.1 The average annual turnover of the Bidder, should not be less than ₹ 339.18 Lakh
(Rupees Three Hundred Thirty-Nine Lakh and Eighteen 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.
7
.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
2
. Copies of the unaudited unconsolidated financial statements of the bidder along with
copies of the audited consolidated financial statements of its Holding Company.
. 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
technocommercial 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
2
. 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.