While this is certainly a setback for Tata Motors, it might even be an outright disaster that makes the company ineligible to participate. The Defence Procurement Policy of 2008 (DPP-2008), which governs the FICV project, specifies eligibility criteria for Indian private companies: they must be registered for minimum 10 years; have capital assets in India of at least Rs 100 crore and a turnover greater than Rs 1,000 crore for each of the preceding three years; and a minimum credit rating equivalent to CRISIL/ICRA "A". Another criterion demands "consistent profitable financial record showing profits in at least three years of the last five years and with no accumulated losses". Tata Motors' loss of Rs 4,739 crore loss last year was greater than the profits of the four preceding years.