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 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.
(I)
Copies of the unaudited unconsolidated financial statements of the Bidder
along with copies of the audited consolidated financial statements of its Holding
Company.
(II)
A Certificate from the CEO / CFO of the Holding Company, as per the format
enclosed with the bidding documents stating that the unaudited unconsolidated
financial statements form part of the consolidated Annual financial statements
of the Holding Company.
In cases 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 a 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.
N otes for clause 2.0 above:
(I)
Net worth means the sum total of the paid up share capital and free reserve. Free
reserve means all reserves credited out of the profits and share premium account but
does not include reserves credited out of the revaluation of the assets, write back of
depreciation provision and amalgamation. Further any debit balance of Profit and
Loss account and miscellaneous expenses to the extent not adjusted or written off, if
any, shall be reduced from reserves and surplus.
(II)
Other income shall not be considered for arriving at annual turnover.
(III)
"Holding Company" and "Subsidiary Company" shall have the meaning ascribed to
them as per Companies Act of India.