requirements as 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 Bidder’s Techno-Commercial bid, a Letter of Undertaking from the
Holding Company, supported by the Holding Company’s 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.
b) Net worth of the Bidder as on the last day of the preceding financial year should not be
less than 100% (hundred percent) of its paid-up share capital. In case the Bidder does
not satisfy the Net worth criteria on its own, it can meet the requirement of Net worth
based on the strength of its Subsidiary(ies) and/or Holding Company and/or
Subsidiaries of its Holding company wherever applicable. In such a case, however 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% (hundred percent) of their total paid-up share capital. However individually, their
Net worth should not be less than 75% (seventy five percent) 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
the respective paid-up share capitals and Y1,Y2,Y3 are individual paid-up share
capitals.
c) 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:
(i) Copies of the unaudited unconsolidated financial statements of the Bidder along with
copies of the audited consolidated financial statements of its Holding Company.
(ii) 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 financial statements of the Holding Company.
In case 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 the three consecutive financial years preceding the