Date: [Insert Date]

To,

The Procurement Officer,
[Name of the Procuring Organization],
[Address of the Procuring Organization],
[City, State, PIN Code].
 

Subject: Declaration Regarding Insolvency for Bid Number [Bid Number]


Dear Sir/Madam,

We, [Your Company Name], having our registered office at [Your Company Address], hereby declare the following regarding our financial status in relation to Bid Number [Bid Number].
 

Declaration of Insolvency Status
 

1. No Insolvency Proceedings:
   We confirm that as of the date of this declaration, [Your Company Name] is not subject to any insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) or any other relevant insolvency laws applicable in India.
2. Financial Stability:
   We declare that our company is financially stable, has not been declared insolvent or bankrupt by any court or tribunal, and our financial statements confirm our capability to meet our financial obligations and execute contracts effectively.
3. Compliance with Regulations:
   This declaration is made in accordance with:
   • General Financial Rules (GFR) 2017 - Rule 151: Adhering to principles of financial propriety.
   • Manual for Procurement of Goods: Compliance with guidelines on financial qualifications.
   • Central Vigilance Commission (CVC) Guidelines: Ensuring financial integrity and transparency in public procurement.
      

Supporting Documentation
 

We have attached the following documents to support this declaration:

• Latest audited financial statements.

• Any other relevant financial documentation as required.

   

Legal Undertaking

We understand that providing false or misleading information in this declaration may result in severe consequences, including disqualification from the bidding process, cancellation of any awarded contracts, and legal action as per applicable laws.

We affirm that the information provided herein is accurate and true to the best of our knowledge.

Thank you for your consideration.

Yours faithfully,

[Signature]
[Name of the Authorized Signatory]
[Designation]
[Your Company Name]
[Contact Number]
[Email Address]