passed by a regulatory authority which could cast a doubt on our ability to undertake the Project or which relates to a grave offence that outrages the moral sense of the community.
I/ We further certify that in regard to matters relating to security and integrity of
the country, we have not been charge-sheeted by any agency of the Government or convicted by a Court of Law for any offence committed by us or by any of our
I/ We further certify that no investigation by a regulatory authority is pending
either against us or against our Associates or against our CEO or any of our Directors/
[I/ We further certify that we are not disqualified in terms of the additional criteria
specified by the Department of Disinvestment in their OM No.6/4/2001-DD-II dated
July, 13, 2001, a copy of which forms part of the RFP at Appendix-V thereof.]
I/ We undertake that in case due to any change in facts or circumstances during
the Bidding Process, we are attracted by the provisions of disqualification in terms of the
guidelines referred to above, we shall intimate the Authority of the same immediately.
[We acknowledge that our Consortium/ proposed Consortium was pre-qualified
and short-listed on the basis of Technical Capacity and Financial Capacity of those of its Members who will own at least 26% of the equity of the Concessionaire and undertake that each of such Consortium Members shall continue to hold at least 26% of the equity of the Concessionaire until the Commercial Operation Date of the Project is achieved under and in accordance with the provisions of the Concession Agreement. We further agree and acknowledge that the aforesaid obligation shall be in addition to the obligations
contained in the Concession Agreement in respect of Change in Ownership.]
17. [I/ We acknowledge and agree that in the event of a change in control of an Associate whose Technical Capacity and/ or Financial Capacity was taken into consideration for the purposes of short-listing and pre-qualification under and in accordance with the RFQ, I/We shall inform the Authority forthwith along with all relevant particulars and the Authority may, in its sole discretion, disqualify our Consortium or withdraw the Letter of Award, as the case may be. I/We further acknowledge and agree that in the event such change in control occurs after signing of the Concession Agreement but prior to Financial Close of the Project, it would, notwithstanding anything to the contrary contained in the Agreement, be deemed a breach thereof, and the Concession Agreement shall be liable to be terminated without the Authority being liable to us in any manner whatsoever.]
I/ We understand that the Selected Bidder shall either be an existing Company
incorporated under the Indian Companies Act, 956, or shall incorporate itself as such
prior to execution of the Concession Agreement.