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

Applicant is a Consortium) must apply to the Applicant, Member orAssociate named in the Application and not, unless specifically requested,to other associated companies or firms. Invitation to submit Bids will beissued only to Applicants whose identity and/ or constitution is identical tothat at pre-qualification;(c)(d)in responding to the pre-qualification submissions, Applicants shoulddemonstrate their capabilities in accordance with Clause 3.1 below; andin case the Applicant is a Consortium, each Member should substantiallysatisfy the pre-qualification requirements to the extent specified herein.2.2.11 While Qualification is open to persons from any country, the following provisionsshall apply:(a)(b)Where, on the date of the Application, not less than 15% (fifteen percent)of the aggregate issued, subscribed and paid up equity share capital in anApplicant or its Member is held by persons resident outside India or wherean Applicant or its Member is controlled by persons resident outside India;orif at any subsequent stage after the date of the Application, there is anacquisition of not less than 15% (fifteen percent) of the aggregate issued,subscribed and paid up equity share capital or control, by persons residentoutside India, in or of the Applicant or its Member;then the Qualification of such Applicant or in the event described in sub clause (b)above, the continued Qualification of the Applicant shall be subject to approval ofthe Authority from national security and public interest perspective. The decisionof the Authority in this behalf shall be final and conclusive and binding on theApplicant.The holding or acquisition of equity or control, as above, shall include direct orindirect holding/ acquisition, including by transfer, of the direct or indirect legalor beneficial ownership or control, by persons acting for themselves or in concertand in determining such holding or acquisition, the Authority shall be guided bythe principles, precedents and definitions contained in the Securities andExchange Board of India (Substantial Acquisition of Shares and Takeovers)Regulations, 1997, or any substitute thereof, as in force on the date of suchacquisition.The Applicant shall promptly inform the Authority of any change in theshareholding, as above, and failure to do so shall render the Applicant liable fordisqualification from the Bidding Process.2.2.12 Notwithstanding anything to the contrary contained herein, in the event that theApplication Due Date falls within three months of the closing of the latestfinancial year of an Applicant, it shall ignore such financial year for the purposesof its Application and furnish all its information and certification with reference tothe 5 (five) years or 1 (one) year, as the case may be, preceding its latest financialyear. For the avoidance of doubt, financial year shall, for the purposes of an- 15 -