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TMI Blog2024 (5) TMI 334X X X X Extracts X X X X X X X X Extracts X X X X ..... eing an integral part of the Balance Sheet - HELD THAT:- The Balance Sheets can only be understood by going into the factual narrations made in the explanatory notes of accounts. When one speaks about Balance Sheet, it takes along with it the explanatory note. To be noted, all the other bidders have complied with this part, even M/s. BVG India Ltd. was quite conscious of the said compliance as could be seen from one of the communication made by it. Thus, it is held that the reasoning of the High Court, finding fault with disqualification of the technical bid of M/s. BVG India Ltd. cannot be sustained in the eye of law. The only other issue to be considered is with respect to disqualification of M/s. Pashupatinath Distributors Private Limite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Adv. Mr. Mr. Amit Bhandari, Adv. Ms. Ms. Charuambwani, Adv. Ms. Ms. Rajshree Chaudhary, Adv. Ms. Ms. Diksha Dadu, Adv. M/S. F M Associates, AOR For the Respondent : Dr. Menaka Guruswamy, Sr. Adv. Mr. Shaffi Mather, Adv. Mr. Anish K.V., Adv. Mr. Lavkesh Bhambhani, Adv. Mr. Utkarsh Pratap, Adv. Mr. Harshwardhan Thakur, Adv. Ms. Suvangana Agarwal, Adv. Mr. Siddhartha Chowdhury, AOR Mr. Arunabh Chowdhury, Sr. Adv. Mr. Sarvesh Singh Baghel, AOR Mr. Karma Dorjee, Adv. Mr. Dechen Wangdi Lachungpa, Adv. Mr. Prateek K. Chadha, Adv. Mr. Sreekar Aechuri, Adv. Mr. Ardhendumauli Kumar Prasad, Sr. Adv. Ms. Taruna Ardhendumauli Prasad, AOR Mr. Akshay Kumar, Adv. Ms. Ananya Sahu, Adv. Mr. Deepesh Singh, Adv. ORDER 1. Leave granted. 2. Three appeals are be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing for M/s. Pashupatinath Distributors Private Limited, the said reasoning of the High Court cannot be sustained in the eyes of law. As held by this Court in State Bank of India Vs. Krishidhan Seeds Private Limited: (2023) 1 SCC 209: 11. An acknowledgment in a balance sheet without a qualification can be relied upon for the purpose of the proceedings under the IBC. This principle also emerges from the decision in Asset Reconstruction Co. which noted the decisions in Sesh Nath Singh and Laxmi Pat Surana. This Court held: 35. A perusal of the aforesaid sections would show that there is no doubt that the filing of a balance sheet in accordance with the provisions of the Companies Act is mandatory, any transgression of the same being punishabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the reasoning of the High Court, finding fault with disqualification of the technical bid of M/s. BVG India Ltd. cannot be sustained in the eye of law. 8. The only other issue to be considered is with respect to disqualification of M/s. Pashupatinath Distributors Private Limited. All the bidders had been called for a meeting and their queries have been answered by the tendering authority. As rightly pointed out by the learned senior counsel appearing for the respondent No.1 before us, the document concerned would clearly show that even the technical committee was of the view that the request made by M/s. Pashupatinath Distributors Private Limited to dilute Clause 2.2 and 2.3 is not feasible of consideration. While interpreting the terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i and the same discloses that the work order was issued on 2.3.2012. The PCMC Certificate thus neither shows three years experience of BVG India Limited nor that BVG India Limited was carrying out garbage/waste collection of more than 300 MT per day. Since Respondent 1 has categorically mentioned in its bid under the column basic information about tenderer that no other company (either joint venture or consortium) is involved with BVG India Limited, Respondent 1 BVG India Limited could not have relied upon the purported experience certificate issued in the name of BVG Kshitij Waste Management Services Pvt. Ltd. Other certificates submitted by the Respondent 1 also did not satisfy the eligibility requirement. 64.2 A bidder who submits a bid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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