In case the bidder meets the requirement of Net worth based on the strength of its subsidiary
(ies) and / or Holding Company and / or Subsidiaries of its Holding companies wherever
applicable, the net worth of the bidder and its subsidiary (ies) and / or Holding Company and /
or Subsidiaries of its Holding companies, 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 capital. For consortiums/ Joint ventures, wherever
applicable, the Net worth of all consortiums/ Joint venture members in combined manner should
not be less than 100% of their paid up share capital. However individually, their Net worth
should not be less than 75% of their respective paid up share capitals.
5.2.3 In case the bidder is not able to furnish its audited financial statement on standalone entity
basis, the unaudited unconsolidated financial statements of the bidder can be considered
acceptable provided the bidder furnishes the following further documents on substantiation of
its qualification.
a) Copies of unaudited unconsolidated financial statement of the bidder along with copies of
audited consolidated financial statements of the Holding Company.
b) A certificate from the CEO/CFO of the Holding Company, as per format enclosed in the bid
documents, stating that the unaudited unconsolidated financial statements form part of the
consolidated Annual Report of the Company.
5.2.4 In case where audited results for the last financial year as on 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
5.2.5 In case a bidder does not satisfy the financial criteria, stipulated at clause 5.2.1 and/or
clause 5.2.2 above on its own, the Holding Company would be required to meet the stipulated
turnover requirements at clause 5.2.1 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 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.
5.2.6 Notes:
i) Net worth means the sum total of the paid up share capital and free reserves. Free reserve
means all reserves credited out of the profits and share premium account but does not include