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7.2 Financial criteria:
7.2.1 The average annual turnover of the Bidder, should not be less than ₹ 93.54
Lakh (Rupees Ninety- Three Lakh and Fifty-Four Thousand only) during the
preceding three (3) completed financial years as on the date of Techno-
commercial bid opening.
7.2.2 In case the bidder does not satisfy the financial criteria, stipulated at Cl. 7.2.1
above on its own, its holding company would be required to meet the stipulated
turnover requirements at Cl. 7.2.1 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 Techno-
Commercial bid, a Letter of Undertaking from the holding company, supported by
Board Resolution of the holding company, 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.
7.2.3 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.
1. Copies of the unaudited unconsolidated financial statements of the bidder
along with copies of the audited consolidated financial statements of its Holding
Company.
2. 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 Report of the Holding
Company.
7.2.4 In cases where audited results for the last preceding 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:
1. Other income shall not be considered for computing annual turnover.
2. “Holding Company" and “Subsidiary Company” shall have the meaning
ascribed to them as per Companies Act of India, in vogue