SECTION - I INVITATION FOR BIDS (IFB)
2) In case the reference work has been executed by the Bidder in an integrated Joint Venture wherein allocation of
scope of work and break-up of quantities between the partners is not clearly specified in the integrated Joint
Venture Agreement, then for Clause 1.1B above, the credit of executed quantities can be claimed by the bidder in
the ratio of bidder’s share in the integrated Joint Venture Agreement, provided the bidder establishes that it
regularly undertakes works as at Clause 1.1B above.
3) The executed works/ quantities by integrated Joint Venture shall be duly authenticated by the owner/Project
Authority. However, the bidder will not be eligible to claim the credit of executed work by integrated Joint Venture
for Clause 1.1A above, unless the bidder has individually executed the work meeting the requirement of Clause
1.1A above and which has been duly authenticated by the owner/ Project Authority.
j) Reference work executed by the bidders as a sub-contractor may also be considered provided the certificate issued
by main contractor is duly certified by Owner/Project Authority specifying the scope of work executed by the sub-
contractor in support of qualifying requirements.
2.0 Financial Criteria:
2.1 The average annual turnover of the Bidder, in the preceding three (3) financial years; reckoned as on the date of Scheduled
Techno-Commercial Bid Opening shall not be less than INR 2947.00 Lakhs (Rupees Two thousand nine hundred forty
seven lakhs only).
2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl.2.1 above on its own, its holding company would be
required to meet the stipulated turnover requirements at Cl. 2.1 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 Scheduled techno-commercial bid, a Letter
of Undertaking from the holding company, supported by 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.
2.3 Net worth of bidder shall not be less than 100% of the bidder’s paid up share capital as on the last day of the preceding
financial year. In case the Bidder meets 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 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. For Consortiums/Joint Ventures, wherever applicable, the Net worth of all
consortium/Joint Venture members in combined manner should not be less than 100% of their 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 their respective paid up share capitals and
Y1, Y2, Y3 are individual paid up share capitals
2.4 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 in 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 the Holding Company.
b. A Certificate from the CEO/CFO of the Holding Company, as per the format enclosed in the bid documents, stating
that the unaudited unconsolidated financial statements form part of the Consolidated Annual Report of the company
2.5 In cases where audited results for the last financial year as on the date of scheduled 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 staring that the
financial results of the Company are under audit as on the date of Scheduled techno-commercial bid opening and the Certificate
from the practicing Chartered Accountant certifying the financial parameters is not available.