Thandla-Limdi - Madhya Pradesh Road Development Corporation ...

Provided further that each member of the Consortium shall have a minimum NetWorth of 12.5% of Estimated Project Cost in the immediately preceding financialyear § .2.2.3 O&M Experience: The Applicant shall engage an experienced O&M contractoror hire qualified and trained personnel for operation and maintenance of theproject in conformity with the provisions of the concession agreement.2.2.4 The Applicants shall enclose with its application, to be submitted as per theformat at Appendix-I, complete with its Annexes, the following:(i)(ii)Certificate(s) from its statutory auditors $ or the concerned client(s) statingthe payments made/ received or works commissioned, as the case may be,during the past 5 years in respect of the projects specified in paragraph2.2.2 (A) above. In case a particular job/ contract has been jointly executedby the Applicant (as part of a consortium), it should further support itsclaim for the share in work done for that particular job/contract byproducing a certificate from its statutory auditor or the client; andCertificate(s) from its statutory auditors specifying the net worth of theApplicant, as at the close of the preceding financial year, and alsospecifying that the methodology adopted for calculating such net worthconforms to the provisions of this Clause 2.2.4 (ii). For the purposes ofthis RFQ, net worth (the “Net Worth”) shall mean the sum of subscribedand paid up equity and reserves from which shall be deducted the sum ofrevaluation reserves, miscellaneous expenditure not written off andreserves not available for distribution to equity share holders.2.2.5 The Applicant should submit a Power of Attorney as per the format at Appendix-II, authorising the signatory of the Application to commit the Applicant. In thecase of a Consortium, the Members should submit a Power of Attorney in favourof the Lead Member as per format at Appendix-III.2.2.6 Where the Applicant is a single entity, it may be required to form an appropriateSpecial Purpose Vehicle, incorporated under the Indian Companies Act 1956 (the“SPV”), to execute the Concession Agreement and implement the Project. In casethe Applicant is a Consortium, it shall, in addition to forming an SPV, complywith the following additional requirements:(a)Number of members in a consortium shall not exceed 6 (six), butinformation sought in the Application may be restricted to 4 (four)members in the order of their equity contribution;(b) subject to the provisions of clause (a) above, the Application shouldcontain the information required for each member of the Consortium;_____________________§ In case an applicant has issued any fresh Equity Capital during the current financial year, thesame shall be permitted to be added to the Applicant‟s Net Worth subject to the Statutory Auditorof the Applicant certifying to this effect.$In case duly certified audited annual financial statements containing explicitly the requisitedetails are provided, a separate certification by statutory auditors would not be necessary in respect ofClause 2.2.4 (i). In jurisdictions that do not have statutory auditors, the firm of auditors which auditsthe annual accounts of the Applicant may provide the certificates required under this RFQ.- 12 -