9
.2.0
.2.1
Financial Criteria
9
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.43.20 Lakh(Rupees Forty
Three Lakh Twenty Thousand Only.
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.
9.2.2
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 proceeding 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 9.2 ABOVE :
Other income shall not be considered for arriving at annual turnover.
(
i)
(
ii)
"Holding Company" and "Subsidiary" shall have the meaning ascribed to them as per
Companies Act of India.
(
iii)
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.
iv) All financial figures mentioned above are exclusive of GST.
(