(rfq) document for development of four laning of rewa ring road on ...

RFQ <strong>document</strong> <strong>for</strong> <strong>development</strong> <strong>of</strong> Four Laning <strong>of</strong> Rewa Ring Road on BOT (Toll + Annuity)basiscases where the direct or indirect shareholding <strong>of</strong> anApplicant, its Member or an Associate there<strong>of</strong> (or anyshareholder there<strong>of</strong> having a shareholding <strong>of</strong> not more thantwenty five per cent <strong>of</strong> the paid up and subscribed sharecapital <strong>of</strong> such Applicant, Member or Associate, as the casemay be) in the other Applicant, its Member or Associate, as thecase may be, is not more than twenty five per cent <strong>of</strong> thepaid up and subscribed share capital there<strong>of</strong>; providedfurther that this is qualification shall not apply to anyownership by a bank, insurance company, pension fund or apublic financial institution referred to in section 4A <strong>of</strong> theCompanies Act 1956. For the purposes <strong>of</strong> this Clause 2.2.1(c),indirect shareholding held through one or moreintermediate persons shall be computed as follows: (aa)where any intermediary is controlled by a person throughmanagement control or otherwise, the entire shareholdingheld by such controlled intermediary in any other person(the “Subject Person”) shall be taken into account <strong>for</strong>computing the shareholding <strong>of</strong> such controlling person in theSubject Person; and (bb) subject always to sub-clause (aa)above, where a person does not exercise control over anintermediary, which has shareholding in the Subject Person,the computation <strong>of</strong> indirect shareholding <strong>of</strong> such person inthe Subject Person shall be undertaken on a proportionatebasis; provided, however, that no such shareholding shall bereckoned under this sub- clause (bb) if the shareholding <strong>of</strong>such person in the intermediary is less than 26% <strong>of</strong> thesubscribed and paid up equity shareholding <strong>of</strong> suchintermediary; or (ii) a constituent <strong>of</strong> such Applicant is also aconstituent <strong>of</strong> another Applicant; or(iii)(iv)(v)such Applicant, or any Associate there<strong>of</strong> receives or hasreceived any direct or indirect subsidy, grant, concessionalloan or subordinated debt from any other Applicant, or anyAssociate there<strong>of</strong> or has provided any such subsidy, grant,concessional loan or subordinated debt to any otherApplicant, its Member or any Associate there<strong>of</strong>; orsuch Applicant has the same legal representative <strong>for</strong>purposes <strong>of</strong> this Application as any other Applicant; orsuch Applicant, or any Associate there<strong>of</strong> has a relationship________________________________________________________________________________________________________________________________NIT No. MPRDC/BOT (T+A)/PQ/2012/ 7783 Bhopal, dated 27.09.2012 - 12 -