4
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 requested to furnish along
with its 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 & irrevocable financial support
for the execution of the Contract by the Bidder in case of award.
3.2) 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 the Holding Company.
ii) 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 Financial Statements of the Holding Company.
3.3) 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 for the three (03)
consecutive financial years preceding the last financial year
shall be considered for evaluating the financial parameters.
Further, a certificate would be required from CEO/CFO as per
the format enclosed in the bidding document 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 financial
parameters is not available.
3.4) Clarificatory Notes for the Clauses above:
I).The word “Executed” mentioned above means that the bidder
should have achieved the criteria specified above within the
preceding seven (07) years period, even if the total
contract is started earlier and/or is not completed/ closed.