b. A certificate from the CEO/CFO of the Holding Company, as per the format enclosed in
the bid documents, stating that the un-audited unconsolidated financial statements form
part of the Consolidated Annual Report of the Company.
In cases where audited results for the preceding financial year as on the date of bid
opening are not available, certification of the financial statements from a practicing
Chartered Accountant shall also be considered acceptable. In case, the Bidder is not
able to submit from Practicing Charted 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.
iv
In case the Bidder does not satisfy the financial criteria, stipulated at paras B(i) and/ or B(ii)
above on its own, its Subsidiary(ies) and/or Holding Company and/or Subsidiary(ies) of its
Holding Company wherever applicable would be required to meet the stipulated turnover
requirements at Para B(i) above. In such an event, the Bidder would be required to furnish
along with its bid, a Letter of Undertaking from the Holding Company, supported by Board
Resolution of the Holding company, 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. In case the Bidder meets the requirement of Net worth
based on the strength of its Subsidiary(ies) and/or Holding Company and/or
Subsidiary(ies) of its Holding Company wherever applicable, the Net worth of the Bidder
and its Subsidiary(ies) and/or Holding Company and/or Subsidiary(ies) of the Holding
Company, in combined manner should not be less than 100% of their paid up share
capital. However individually, their Net worth should not be less than 75% of their
respective paid up share capitals.
v
In case of a bid submitted by a Consortium the turnover shall be considered on a combined
manner for all the Consortium partners. Net worth of all consortium members in combined
manner should not be less than 100% of their paid up share capital however individually,
their Net worth should not be less than 75% of their respective paid up share capitals.
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 respective paid-up share
capitals.
Notes:
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. Further, any debit balance of Profit and
Loss account and miscellaneous expenses to the extent not adjusted or written off, if
any, shall be reduced from “Reserves and Surplus”
ii.
iii
Other income shall not be considered for arriving at annual turnover.
“Holding Company” and “Subsidiary Company” shall have the meaning ascribed to
PROCUREMENT OF 0.56 MMT STEAM COAL OF ORIGIN OTHER THAN
INDIA FOR NTECL VALLUR TPS
PAGE
INVITATION FOR BIDS
6 OF 12
BID DOCUMENT NO.: NTECL/C&M/ICB/CS-4286
