2.1
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. 72
Lakh (Rs. Seventy Two Lakh 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.
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.
2.2
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
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 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 practising Chartered Accountant certifying the financial
parameters is not available
(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.