'ABC' a partnership firm has submitted the bid for certain contract. As per bid qualifying requirement, the bidder should have
i) average annual turnover of the bidder should not be less than 3 cr in the preceding three years
ii) the bidder must have experience of having successfully completed works of value not less than 3cr
Issue: The bid was submitted by partnership firm 'ABC' but on perusing the three balance sheets, it is understood that they belong to proprietary concern, which is also named as 'ABC'. The name of the proprietor shown in the balance sheets do not reflect in the partnership deed of ‘ABC’.
If we assume that partnership firm has purchased the proprietory concern ‘ABC’ and registered the firm name as ‘ABC’ so as to meet the qualifying requirement.
In such an event, whether we can consider the financial credentials and work experience of such proprietary concern for evaluating the credentials of the ‘ABC’ partnership firm more so when such proprietor is not a partner in the firm. please answer.