as per the format enclosed in the bid documents, pledging
unconditional and irrevocable financial support for execution of the
Contract by the Bidder in case of award.
2.2 In case the Bidder is not able to furnish its audited financial
statements on standalone 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 with the bidding documents
stating that the unaudited unconsolidated financial statements
form part of the consolidated Annual financial statements of the
Holding Company.
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 a 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.
2.3 Net worth of the bidder should not be less than 100% (hundred
percent) of the bidder's paid up share capital as on the last day of
the preceding financial year. 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 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) = ((Xl+X2+X3) / (Yl + Y2 +Y3)) X 100