VI. Notwithstanding anything stated above, the Employer reserves the right to assess
the capabilities and capacity of the Bidder/ his collaborators / associates/
subsidiaries / group companies to perform the contract, should the circumstances
warrant such assessment in the overall interest of the Employer.
VII. NTPC reserves the right to reject any or all bids or cancel/withdraw the NIT for the
subject package without assigning any reason whatsoever and in such case no
bidder/intending bidder shall have any claim arising out of suchaction.
2.1 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 Comp
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 e
nclosed in the bid documents,
pledging unconditional and irrevocable financial support for the execution
of the Contract by the Bidder in case of award.
2.2 In case the bidder is not
able to furnish its audited financial
statements on
standalone 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 commercia
l bid opening are not available, the financial results
certified by a practising Chartered Accountant shall be considered
acceptable. In case, Bidder is not able to submit the certificate from
practising Chartered Accountant certifying its
financial parameters, the
audited results for the 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 a
s 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 practising Chartered Accountant certifying the financial
parameters is not available
NOTE:
(i)
Other income shall not be considered for arriving at annual turnover.
(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.