In case, bidder has executed reference work under two orders one for supply
and one for services separately for the same installation, combined value of
both the orders shall be considered as a single order for the purpose of
evaluation.
7.2
Financial criteria:
7.2.1
The average annual turnover of the Bidder, should not be less than INR 175
Lakh (Rupees one hundred and seventy five lakhs 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, 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 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:
(a)
Other income shall not be considered for arriving at annual turnover.
(b)
“Holding Company" and “Subsidiary Company” shall have the meaning ascribed
to them as per Companies Act of India, in vogue.