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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