INVITATION FOR BID (IFB)
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.
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.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 :
(
(
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 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 reserve 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.
(
(
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.
(
iv) 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.
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Notwithstanding anything stated above, the Employer reserves the right to assess the
capabilities and capacity of the Bidder/ his collaborators / associates/ subsidiaries/ group
companies to perform the contract, should the circumstances warrant such assessment in the
overall interest of the Employer.
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Employer reserves the right to reject any or all bids or cancel/withdraw the Invitation for Bids
without assigning any reason whatsoever and in such case no bidder / intending bidder shall
have any claim arising out of such action.
A complete set of Bidding Documents may be downloaded by any interested Bidder from our
NIC Portal (https://eprocurentpc.nic.in/nicgep/app).
Section I: Invitation For Bids (IFB):
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