3.
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.
6
.2Financial criteria:
6
.2.1 The average annual turnover of the Bidder, should not be less than ₹ 50.29
Lakh (Rupees Fifty Lakh and Twenty Nine Thousand only) during
the preceding three (3) completed financial years as on the date of
Techno-commercial bid opening.
6
.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl.
6
.2.1 above on its own, its holding company would be required to meet
the stipulated turnover requirements at Cl. 6.2.1 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.
6
.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 in 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 the Holding Company.
2
. A Certificate from the CEO/CFO of the Holding Company, as per the
format enclosed in the bid documents, stating that the unaudited
unconsolidated financial statements form part of the Consolidated
Annual Report of the company.
6
.2.4 In cases 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 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.
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