JUDGMENT

The probable amount of contract specified in Ext. P1 notice inviting tender for the supply of 200 MT of 7/2.5 mm GI stay wire is Rs. 1,63,00,000/-. All the tenderers were given one more opportunity to make up the deficit in the production of documents by Ext. P2 letter. The petitioner by Ext.P3 reply maintained that the Net worth Certificate has already been produced for consideration of its tender.

2. The relevant part of Ext. P3 Net worth Certificate produced by the petitioner is as follows:-

NETWORTH CERTIFICATE SHANKAR CONDUCTORS PRIVATE LIMITED STATEMENT OF NETWORTH COMPUTATION:

PARTICULARS	As on 31.10.2014
Paid Up Capital	9000000.00
Add: Reserve & Surplus	2780464.32
Less: Miscellaneous Expenditure (Not written off)	0.00
Net Worth	11780464.32

This is in tune with Section 2(57) of the Companies Act, 2013 whereunder the term 'Net worth' has been defined. It is extracted hereunder:-

“2(57). “net worth” means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as

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