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considered acceptable provided the bidder further furnishes the following documents for
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 its Holding
Company.
2. 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 Report of the Holding
Company.
In cases where audited results for the last preceding 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.
6.2.2 Financial criteria for Collaborator/Associate in case of Bidder participating through
clause 6.1.2. However, Bidder should also meet the financial criteria as per clause 6.2.1:
a) The average annual turnover of the Collaborator/Associates should not be less than ₹
1.37 Crore (Rupees One Crore and Thirty-Seven Lakh only) during the preceding
three (3) completed financial years as on the date of Techno-commercial bid opening.
In case the Collaborator/Associate does not satisfy the average annual turnover criteria
above on its own, its Holding Company would be required to meet the stipulated turnover
requirements at Cl.6.2.2 (a) 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 Collaborator/Associate
would be required to furnish along with bidder's Techno-Commercial bid, a Letter of
Undertaking from the Holding Company, supported by Board Resolution of the Holding
Company, as per the format enclosed with the bidding documents, pledging
unconditional and irrevocable financial support to the Collaborator/Associate to honour
the terms and conditions of the Deed of Joint Undertaking in case of award of the
Contract to the Bidder with whom Collaborator/Associate is associated.
b) The Net Worth of each Collaborator/Associate, as on the last day of the preceding
financial year as on the date of Techno-commercial bid opening should not be less than
100% (hundred percent) of its paid-up share capital. In case the Collaborator/Associate
does not meet 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. In such a case, however the Net worth of
the Collaborator/Associate 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.