Lakh Eight Thousand Only)
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 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.
2.2
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.
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 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 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
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.