Notes for Clause 9.1.0 above:
i) The word “executed” means the Bidder should have achieved the criteria specified in the qualifying
requirements even if the contract has been started earlier and/or is not completed/ closed.
ii) Reference work executed by a bidder as a sub-contractor may also be considered provided the
certificate issued by main contractor is duly certified by Project Authority specifying the scope of work
executed by the sub-contractor in support of Qualifying Requirements.
The average annual turnover of the Bidder, in the preceding three (3) financial years as on the date of
Techno-Commercial bid opening, should not be less than Rs 81.53 lakh (Rupees Eighty One Lakh
Fifty Three Thousand only ).
In case a bidder does not satisfy the financial criteria, stipulated above on its own, its Holding
Company would be required to meet the stipulated turnover requirements 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 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.
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 :
a) Copies of the unaudited unconsolidated financial statements of the bidder along with copies of the
audited consolidated financial statements of its Holding Company.
b) 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.
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 for the 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 FOR CLAUSE 2 ABOVE :
Other income shall not be considered for arriving at annual turnover.
(ii) "Holding Company" and "Subsidiary" shall have the meaning ascribed to them as per Companies Act
iii)urnover indicated in foreign currency, the exchange rate as on seven (07) days prior to the date of
techno-commercial bid opening shall be used.
As a proof of meeting the qualifying requirements, the scanned copies of the following documents will be
required to be uploaded in the technical folder.