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date of techno commercial bid opening, shall also be considered for the
purpose of evaluation.
7.2 Financial criteria:
7.2.1 The average annual turnover of the Bidder, should not be less than ₹ 114 Lakhs
(Rupees One hundred fourteen 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 in 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 the
Holding Company.
2. 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 Report of the
company.
7.2.4 In cases 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 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