RFP for appointment of Concurrent Auditor in DICGC for FY 2024-25- Last date : 11/03/2024
Deposit Insurance and Credit Guarantee Corporation (DICGC) has invited e-tender for appointment of a chartered accountants firm as Concurrent Auditor for FY 2024-25.
The bids are invited through e-tender on portal of MSTC i.e., www.mstcecommerce.com in two parts viz., Technical and Price Bid.
The date and time of commencement of online submission of e-tender is February 16, 2024 . The bids shall be submitted by the firms not later than 11.00 AM on March 11, 2024
Part-I (Technical Bid) of the e-tender will be opened electronically on March 11, 2024 at 12.00 PM. Part-II (Financial Bid) will be opened electronically of only those bidder(s) whose Part-I (Technical Bid) is found acceptable by DICGC. Date of opening Financial Bids will be intimated separately by e-mail.
The appointment will be for a period of one year, from April 01, 2024 to March 31, 2025, with provision for reappointment for a further period of two years subject to yearly review and satisfactory performance at the DICGC’s sole discretion.
Eligibility Criteria:
(i) The applicant should be a company registered under Companies Act or an LLP registered under LLP Act or Partnership Firm or Proprietary firm. Copy of the Memorandum and Articles of Association/ Certificate of Incorporation/ Partnership Deed/ similar other relevant documents should be submitted.
(ii) The firm must be a Category-1 Chartered Accountant firm, registered with ICAI, based in Mumbai/Navi Mumbai, with adequate manpower in Mumbai to take care of replacement, etc. in respect of manpower to be eligible for appointment as Concurrent Auditor.
Mandatory Criteria:
(i) The firm should not have been blacklisted/debarred anytime during last 4 Financial years ended 31st March 2023 from participation in a tender floated by any central/state PSU including DICGC / RBI or any State/Central Government Department/Institutes or any autonomous body funded and/or controlled by any state/central government.
(ii) The firm/partner associated should not have been penalized for any disciplinary proceedings and no disciplinary proceedings should be pending against them as on the date of application.
(iii) Firms which are either currently Statutory / Statutory Branch Auditors / Concurrent auditors of RBI / Deposit Insurance and Credit Guarantee Corporation of India (DICGC) / Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) / Reserve Bank Information Technology Private Limited (ReBIT) / Indian Financial Technology and Allied Services (IFTAS) or in the past but at least two years have not lapsed since the completion of such assignment as on December 31, 2023 are ‘Not eligible’.
It is essential that, all the above criteria prescribed are fulfilled to be eligible for appointment as concurrent audit. The eligibility / mandatory criteria shall have to be met at the time of evaluation and the firm shall continue to meet the criteria throughout the currency of the agreement. Firm/ Partners should disclose relationship, if any, to any director of the Corporation. The applicant firm should be registered under the Goods and Services Tax Act, 2017 and must submit a copy of PAN, GST Registration certificate.
The maximum marks that can be secured under technical evaluation will be 100. Firms securing 60 marks or more, only will be considered for the next stage of financial evaluation. The decision of DICGC will be final in this regard.
Undertaking/ Submission:
Bidders must give an undertaking/ submission that:
(a) There has not been any disciplinary action initiated or contemplated/suspension of business against the entity/ firm by ICAI/DICGC or other regulatory / statutory authority since existence / inception.
(b) None of the partner/employees have been convicted of any offence involving moral turpitude or has been found guilty of economic offence.
(c) No appeal/unresolved dispute/suit/case/application has been pending at any court in India regarding the existence of the business / right to carry on practice.
(d) The firm/ company shall abide by all the laws of the land in respect of Labour Act, PPF, gratuity, ESI, minimum wages, etc (The Corporation shall not be responsible for any claim on any account for not abiding with these laws.)
(e) Duly filled and signed “FORM OF TENDER” to be submitted
Deployment:
The firm should deploy one CA, one skilled assistant, (passed group II of the IPCC examination) and one semi-skilled personnel (at least Group I of IPCC and undergoing Article training) to the Corporation daily (working days). The persons/team so deputed will work in the office during normal office hours, process and put up the notes/information to the Manager or any other officer of the Corporation as decided from time to time. In normal course, the team deployed by the firm should not be shuffled, but only under extreme exigencies, and even in such situations, it should be ensured that the entire team of two (02) skilled and one (01) semi-skilled staff are replaced in a staggered manner with a minimum gap of one (01) month. The Firm/ Company shall provide identity cards to all its employees or agents who shall be doing the subject job at the Corporation’s premises. All the employees and agents should bear the identity card at all the times they are working in the Corporation’s premises. The Firm/ Company shall obtain Police Verification Report on character and antecedents of its personnel and other details pertaining to age, educational qualification, name, Aadhaar card and permanent address to be provided under this contract
along with their passport size photograph before engaging them for duty in the Corporation’s Premises. The Corporation will not provide any other facility/ charges to staff besides suitable sitting space. Periodical meetings with the Concurrent Auditors would be held with the Corporation’s Management Team/ HoDs to review the working of the Corporation in the period concerned and discuss any changes and its impact on the Corporation.
Remuneration:
The minimum monthly remuneration would be ₹55,000/- (Rupees Fifty five thousand only) exclusive of GST and inclusive of all costs for undertaking the Concurrent Audit of the Corporation. The remuneration specified would be applicable for the period of three years and will not be changed on renewal. The remuneration would be paid after deduction of Income Tax at source.
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