Crores definition
Examples of Crores in a sentence
In cases of procurement for value in excess of Rs. 10 Crores, the supplier shall provide a Local Content certificate from statutory auditor or cost auditor of the company (in case of companies) or from a practicing cost accountant or practicing charted accountant (in respect of supplier other than companies) giving the percentage of local content.
However, in case of „Bank Guarantee‟ from Banks other than the Nationalized Indian Banks, the Bank must be commercial Bank having net worth in excess of Rs. 100 Crores [Rupees One Hundred Crores] and a declaration to this effect should be made by such commercial Bank either in the „Bank Guarantee‟ itself or separately on its letterhead.
Post COD, the Performance Security shall be reduced to Rs. 5,00,00,000 (Five Crores only) till the end of Concession Period or till the Termination Date, as the case may be.
II The Manufacturing Organization or their Marketing Organization should have a minimum annual sales turn over of Rs 40 Crores in aggregate of the last two financial years ending March 2018.
The said additional fees/damages shall be levied on a prorate basis subject to a maximum of 100% (one hundred percent) of the amount of Rs. 2.00 Crores for a delay in the completion of construction of Project within 365 days of scheduled completion date.
However, in case of ‘Bank Guarantee’ from Banks other than the Nationalized Indian Banks, the Bank must be commercial Bank having net worth in excess of Rs. 100 Crores [Rupees One Hundred Crores] and a declaration to this effect should be made by such commercial Bank either in the ‘Bank Guarantee’ itself or separately on its letterhead.
The Integrity Pact shall be generally executed in all such cases where the value of sub contract works is Rs.2 Crores (equivalent to MUSD 0.25) and above, the content of IP can be decided by Bidder(s)/Seller(s), which shall be in similar lines of this main Integrity Pact.
However, other than the Nationalized Indian Banks, the banks whose BGs are furnished, must be commercial banks having net worth in excess of Rs. 100 Crores and a declaration to this effect should be made by such commercial bank either in the bank guarantee itself or separately on a letter head.
Order No. KSINC/01(A)/Cruis e Ferry Terminal dated 02/03/2021 for an amount of Rs. 5.24 Crores Agreement No. 02/KSINC/2021-22 dated 30/06/2021 M/S IBMK Engineering EPC Ltd.
The Company proposed a plan to repay its smaller creditors first and deposited substantial sums before the Court (about 9 Crores INR), but due to the objections of a few of the creditors, the Company Court took a view that the plan was unworkable, thereby admitting the said petitions.