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Formula:-
VPT x 12/POC x 1.5 times where VPT = Value of Work put to tender [i.e.] Rs.288.15 Lakhs POC = Period of completion [i.e.] 3 months 12 = Months of a Year Annual Turnover=288.15*12/3*1.5 times=Rs.1728.90 [or] Rs.1729 Lakhs [or] Rs.17.29 Crore.
11 It is also the stand of the 1st respondent that the calculation of the Annual Turnover is increased when the period of completion is shorter and decreased when the period of completion is longer and as per the above calculation, the period of completion of work is minimum of three months and so that the fixation of annual turnover is increased. The 1st respondent also dealt with the issue relating to tailor-made conditions to suit a particular individual who is said to have already been identified and denied the said averment and the qualification and quantities to be executed, are fixed and executed according to technically sanctioned estimate and not tailored to the benefit of any other individual and that apart, wide notification / http://www.judis.nic.in publication has also been effected, inviting the tenderers to participate in the tender process.