New Delhi, August 25
The commerce and trade ministry has come out with a registration format for bidders from nations sharing a land border with India who need to take part within the nation’s public procurement course of.
On July 23, the federal government had mandated that any entity from a rustic sharing a land border with India shall be eligible to bid in any procurement course of for items or companies solely whether it is registered with the competent authority.
The resolution was taken amid the border standoff with China.
“Accordingly, the bidders, who have beneficial ownership in countries which share land border with India and intend to participate in public procurement in India, may submit application for registration in the format…,” the Department for Promotion of Industry and Internal Trade (DPIIT) mentioned in an workplace memorandum.
The bidders are additionally required to submit an utility for safety clearance, as per the format.
The validity interval of the registration can be 12 months from the date of concern of the registration letter. “However, in case of appointment of new director(s)/ new shareholders with more than 10 per cent shares/ change in controlling ownership interest or control through other means, the registration shall stand cancelled,” it added. In such instances, bidders shall be required to use for recent registration. The checklist of bidders who’ve been registered with competent authority shall be displayed on the DPIIT portal.
The authorities has amended the General Financial Rules 2017 to allow imposition of restrictions on bidders from international locations which share a land border with India on grounds of nationwide safety.
As per the format, a bidder has to submit particulars of helpful possession; producer/service supplier/contractor; particulars of merchandise for which registration is sought; monetary particulars for the final 5 fiscal years duly licensed by a working towards chartered account in India; and particulars of contracts acquired within the final 5 years in India. — PTI