(b) The Net Worth of the Bidder as on the last day of the preceding financial
year, of the date of Techno-commercial Bid opening, shall not be less than
100% of the bidders paid up share capital. 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 the 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 total 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 paid up share capitals.
(c)
In case the bidder is not able to furnish its audited financial statements on
stand-alone entity basis, the un-audited unconsolidated financial
statements of the bidder can be considered acceptable provided the bidder
further furnishes the following documents for substantiation of its
qualification:
i)
Copies of the un-audited unconsolidated financial statements of the bidder
along with copies of the audited consolidated financial statements of the Holding
Company.
ii)
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 financial statements of the
Holding Company.
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 also be considered
acceptable. In case, Bidder is not able to submit the Certificate from a
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 for Financial Criteria:
(i) Net worth means the sum total of the paid up share capital and free reserves. Free reserves
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