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.
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
5.2.4 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.
1. Copies of the unaudited unconsolidated financial statements of the
bidder along with copies of the audited consolidated financial
statements of the Holding Company.
2. 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 Holding company.
5.2.5 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 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.
Notes for 5.2:
1. Net worth means the sum total of the paid up share capital and free
reserves. Free reserves 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