certificate from such owner of plant or any other intermediary organization shall
be required to be furnished by the Applicant along with its application for
enlistment in support of Applicant’s claim of meeting the qualification
requirement as per clause 1.1 above. Applicant shall also submit a certificate of
successful completion and operation from the Owner or through the
intermediary organization.
2.0 FINANCIAL CRITERIA
2.1 The average annual turnover of the Applicant, should not be less than INR 3200
Million (Indian Rupees Three Thousand Two Hundred Million Only) during
the preceding three (3) financial years as on the last date of submission of
application for enlistment.
In case a Applicant does not satisfy the annual turnover criteria, stipulated
above on its own, its Holding Company would be required to meet the stipulated
turnover requirements as 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 Applicant would be required to furnish along with its application for
enlistment, a Letter of Undertaking from the Holding Company, supported by
the Holding Company’s Board Resolution, as per the format enclosed in the
enlistment documents, pledging unconditional and irrevocable financial
support for the execution of the Contract by the Applicant in case of award.
2.2 Net Worth of the Applicant as on the last day of the preceding financial year
should not be less than 100% (hundred percent) of Applicant’s paid-up share
capital. In case the Applicant does not satisfy the Net Worth criteria on its own,
it can meet the requirement of Net worth based on the strength of its Subsidiary
(ies) and/or Holding Company and/or Subsidiaries of its Holding companies
wherever applicable, the Net worth of the Applicant 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% (hundred percent) of their total
paid up share capital. However individually, their Net worth should not be less
than 75% (seventy-five percent) 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 should
have Positive Net Worth as on the last day of the preceding financial year.
2.3 In case the Applicant is not able to furnish its audited financial statements on
standalone entity basis, the unaudited unconsolidated financial statements of
the Applicant can be considered acceptable provided the Bidder further
furnishes the following documents on 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.