News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Tenders »
 Institute Of Cost Accountants Of India, Delhi
 Food Corporation Of India, Guwahati, Assam
 National Institute for Micro Small and medium Enterprises, Hyderabad, Andhra Pradesh
 Department Of Urban Local Bodies, Gurgaon, Haryana
 Artificial Limbs Manufacturing Corporation of India, Naramau, Kanpur
 Institute Of Chartered Accountants Of India, Indraprastha Marg, New Delhi
  National Centre For Antarctic And Ocean Research, Vasco Da Gama, Goaa
 National Centre For Antarctic And Ocean Research, Vasco Da Gama, Goaa
 Rajasthan Housing Board, Jaisalmer, Rajasthan
 Meghalaya Basin Management Agency, Shillong, Meghalaya
  Brahmaputra Valley Fertilizer Corporation Limited, Dibrugarh, Assam

College of Agricultural Banking, RBI, Pune, Maharashtra
October, 14th 2019
                             Small Industries Development
                                     Bank of India



                               Request for Proposal (RfP)

                                         For
                                  Concurrent Audit of

                           Operations of Branch Office, SIDBI



                       Small Industries Development Bank of India
                                       Audit Vertical
                                4th FLOOR, SIDBI TOWER,
                                     15, ASHOK MARG,
                                   LUCKNOW - 226001
                                 Website : www.sidbi.in


                         Tender No.2020OCT03/T000175423

THE INFORMATION PROVIDED BY THE BIDDERS IN RESPONSE TO THIS TENDER DOCUMENT WILL BECOME
THE PROPERTY OF SIDBI AND WILL NOT BE RETURNED . SIDBI RESERVES THE RIGHT TO AMEND, RESCIND
OR REISSUE THIS TENDER DOCUMENT AND ALL AMENDMENTS WILL BE ADVISED TO THE BIDDERS AND
SUCH AMENDMENTS WILL BE BINDING ON THEM.

                 (THIS DOCUMENT SHOULD NOT BE REUSED OR COPIED OR USED
                          EITHER PARTIALLY OR FULLY IN ANY FORM)

                                                       Page 3 of 27
                                                             RfP  CA of Branch Operations  2019




                               Critical Information Summary

1) SIDBI reserves the sole right for carrying out any amendments/ modifications / changes
    including any addendum to this RfP. Such amendments / modifications / changes including
    any addendum to this RfP shall be notified on SIDBI's website www.sidbi.in and these will be
    binding on the bidders.

2) Bidders are advised to study the tender document carefully. Submission of bids shall be
    deemed to have been done after careful study and examination of the tender document with
    full understanding of its implications.

3) Any clarifications from bidder or any change in requirement will be posted on SIDBI website.
    Hence, before submitting bids, bidder must ensure that such clarifications / changes have
    been considered by them. SIDBI will not have any responsibility in case some omission is
    done by any bidder.

4) In case of any clarification required by SIDBI to assist in the examination, evaluation and
    comparison of bids, SIDBI may, at its discretion, ask the bidder for clarification. The
    response / Clarification shall be in writing and no change in the price of substance of the
    bid shall be sought, offered or permitted.

5) Please note that all the information required as per the bidding document needs to be
    provided. Incomplete information in these areas may lead to non-selection.

6) Modification And/ Or Withdrawal of Bids:

    Bids once submitted will be treated as final and no further correspondence will be
    entertained. No bid shall be modified after the deadline for submission of bids. No bidder shall
    be allowed to withdraw the bid, if bidder happens to be the successful bidder.

7) SIDBI has the right to reject any or all bids received without assigning any reason whatsoever.


NOTE:
    SIDBI SHALL NOT BE RESPONSIBLE FOR NON-RECEIPT / NON-DELIVERY OF THE BID
    DOCUMENTS DUE TO ANY REASON, WHATSOEVER.




                                                                                       Page 4 of 27
                                                              RfP  CA of Branch Operations  2019




 Schedule of events:

Sr.
No.    Bid Reference: Tender No.2020OCT03/T000175423

1      Purpose                               Concurrent Audit of Operations of Branch Office
                                     One (1) Envelope for 1 Branch office
       No. of Envelopes (Non-window,
2
       sealed) to be submitted       1 set of Hard copy should be submitted in sealed
                                     single envelope for 1 Branch office.

3      Last date of submission of Bids       November 06, 2019 at 2:00 p.m (Wednesday)

       Venue, Date and Time of opening of November 06, 2019 (Tuesday) at 3:00 p.m at the
4
       Bids.                              address given at Sr. No. 8.

5      Date of pre-bid meeting               October 22, 2019 (Monday) at 4:00 p.m

       Response to clarifications sought
6      /pre-bid meeting queries to be put October 21, 2019 (Wednesday) at 5:00 p.m
       on website.

7      Bid Validity                          6 months from the last date of submission of Bids.


                                             The General Manager
                                             Audit & Fraud Management Vertical
                                             SIDBI, 4th Floor
                                             SIDBI TOWER,
8      Address for submission of Bids
                                             15, ASHOK MARG,
                                             LUCKNOW - 226001
                                             Ph : 0522-2288546-50
                                             E-mail: auditvertical_ho@sidbi.in

       Contact Persons:

             Name & Designation                 Phone                       e-mail
9
       K.R Samuel [DGM]                    0522-4259735       auditvertical_ho@sidbi.in

       Arup Kumar [M]                      0522- 4259788      auditvertical_ho@sidbi.in

      If a holiday is declared on the dates mentioned above, the effective date would be the next
      working day at the same time specified above and at the same venue unless communicated
      otherwise.

                                                                                      Page 5 of 27
                                                            RfP  CA of Branch Operations  2019



Introduction and Disclaimers :

1.1    Purpose of RfP
The purpose of RfP is to shortlist experienced professional firm/ Limited Liability Partnership
(LLP) of Chartered Accountants, for undertaking Concurrent Audit of Operations of Branch Office
(BO) of SIDBI at the following locations.

                                           Table  I

                                                       Direct Credit O/s     Tentative date for
Sl.          Branch Office             Regional         as on May 31,        commencement of
No.              (BO)                 Office (RO)            2019            Concurrent Audit
                                                         (` in Crore)
1     AHMEDNAGAR BO                       PUNE              38.54
2     CHINCHWAD BO                        PUNE               114.62
3     JALLANDHAR BO                  CHANDIGARH               34.17            January 01, 2020
4     JODHPUR BO                        JAIPUR               129.89
5     KISHANGARH BO                     JAIPUR               101.21
6     KOCHI BO                         CHENNAI               147.23

1.2    Information Provided:

       The Request for Proposal document contains statement derived from information that is
       believed to be relevant at the date but does not purport to provide all the information
       that may be necessary or desirable to enable an intending contracting party to determine
       whether or not to enter into a contract or arrangement with SIDBI. Neither SIDBI nor any
       of its employees, agents, contractors or advisors give any representation or warranty,
       express or implied, as to the accuracy or completeness of any information or statement
       given or made in this document. Neither SIDBI nor any of its employees, agents,
       contractors, or advisors has carried out or will carry out an independent audit or
       verification exercise in relation to the contents of any part of the document.
1.3    Disclaimer:
       Subject to any law to the contrary, and to the maximum extent permitted by law, SIDBI
       and its officers, employees, contractors, agents and advisors diclaim all liability from
       any loss or damage (whether foreseeable or not) suffered by any person acting on or
       refraining from acting because of any information including forecasts, statements,
       estimates or projections contained in this RfP document or conduct ancillary to it
       whether or not the loss or damage arises in connection with any negligence, omission,
       default, lack of care or misrepresentation on the part of SIDBI or any of its officers,
       employees, contractors, agents, or advisers.

1.4    Costs to be borne by Applicants:
       All costs and expenses incurred by Applicants in any way associated with the
       development, preparation, and submission of responses, including but not limited to the
       attendance at meetings, discussions, demonstrations, etc. and providing any additional
       information required by SIDBI, will be borne entirely and exclusively by the Applicant.


                                                                                    Page 6 of 27
                                                                  RfP  CA of Branch Operations  2019


1.5        No Legal Relationship:
           No binding legal relationship will exist between any of the applicants and SIDBI until
           execution of a contractual agreement.
1.6        Applicant Obligation to Inform Itself:
           The applicant must conduct its own investigation and analysis regarding any information
           contained in the RfP document and the meaning and impact of that information.

1.7        Evaluation of Offers:
           Each applicant acknowledges and accepts that SIDBI may in its absolute discretion apply
           selection criteria specified in the document for evaluation of proposals for shortlisting /
           selecting the eligible Concurrent Auditor(s). The RfP document will not form part of any
           contract or arrangement, which may result from the issue of this document or any
           investigation or review carried out by a Recipient.

1.8        Maintaining Secrecy and Confidentiality:
           The applicant shall be liable to maintain secrecy and confidentiality of all the information
           / data / operations, etc. of SIDBI.
1.9        Errors and Omissions
           Each applicant should notify SIDBI of any error, omission, or discrepancy found in this
           RfP document.
1.10       Acceptance of Terms
           An applicant will, by responding to SIDBI for RfP, be deemed to have accepted the terms
           of this Introduction and Disclaimer.

2.         Lodgement of RfP:

     2.1      RfP submission:
 RfP document submission is required to be done by November 06, 2019 (2.00 PM) as
 under:-
      Hard copy should be submitted at the following address in sealed single envelope
      superscribed at the top of the envelope  "Request for Proposal (RfP) for Concurrent
      Audit of Operations of ________________ BO".
      The General Manager
      Audit & Fraud Management Vertical
      Small Industries Development Bank of India (SIDBI)
      SIDBI Tower, 15- Ashok Marg,
      Lucknow  226001 (U. P.)
      Telephones: (0522) 2288546-50
      Email : auditvertical_ho@sidbi.in

     RfP must be submitted on or before the aforementioned closing date and time.

              Fax / e-mail copies of any submission are not acceptable and will be rejected by
              the Bank.

              Copy of Bids and attachments must be provided in a sealed envelope.


                                                                                           Page 7 of 27
                                                             RfP  CA of Branch Operations  2019


   The person(s) signing the Bids shall initial all pages of the RfP. The Bids shall contain no
   erasures or overwriting except as necessary to correct errors made by the applicant, in which
   case corrections shall be initialed by the person(s) signing the Bids.

   If the submission does not include all the information required or is incomplete, the proposal
   is liable to be rejected.
   All submissions, including any accompanying documents, will become the property of SIDBI.
   Applicants shall be deemed to license, and grant all rights to SIDBI to reproduce the whole or
   any portion of their submission for the purpose of evaluation, to disclose the contents of the
   submission to other Respondents and to disclose and / or use the contents of the submission
   as the basis for any resulting RfP process, notwithstanding any copyright or other intellectual
   property right that may subsist in the submission or accompanying documents.

2.2 RfP Validity Period:
         The proposal must remain valid and open for evaluation according to its terms for a
         period of at least six (6) months from the time the RfP closes on the deadline for
         lodgment of RfP.

2.3 Cost of Bid Document

   No cost has been prescribed for the RfP Document.

   2.4      One Bid / application per applicant:

         Applicant can submit application for engagement as concurrent auditor for
         branches where applicant has a regular office set-up, either Head Office or branch
         office, at respective locations of SIDBI branches (In case of Chinchwad BO and
         Kishangarh BO, the applicants from Pune and Ajmer respectively shall also be
         considered).

         As a matter of policy, SIDBI shall engage services of a firm/ LLP for carrying out
         concurrent audit of one branch only, at a time. Accordingly, in case, if the
         applicant applied for multiple branches and found suitable, they may be
         considered for one branch only, at the sole discretion of SIDBI.
   Firms already engaged with SIDBI:

       SIDBI shall engage the services of a firm / LLP for carrying out Concurrent Audit of
        only one Branch Office (BO) at a time. Accordingly, in case the applicant has
        already been engaged as Concurrent Auditor by SIDBI for any of its BO and / or HO
        Verticals, such Firm/LLP will not be eligible under this RfP.

       Such firms/LLP only after completion of specific period (continuous three years),
        cooling period of one year would be observed for considering the services of the CA
        firm again for its BO or HO Vertical, subject to fulfilling eligibility criteria by such
        firms/LLP.




                                                                                      Page 8 of 27
                                                                   RfP  CA of Branch Operations  2019


      2.5      Late Applications:

            Any RfP / application received after the deadline for submission of the RfPs /
            applications will be treated as "Late Application" and such late applications shall not be
            considered at all for competitive consideration.

      2.6      Request for Proposal (RfP)

            SIDBI may, in its absolute discretion, seek additional information or material from any
            applicants after the RfP closes and all such information and material provided must be
            taken to form part of that Applicant's response.

            Applicants should provide details of their contact persons, Fax, Telephone, email and full
            address(s) to ensure that replies to Bids could be conveyed promptly.

            If SIDBI, in its absolute discretion, deems that the originator of the question will gain an
            advantage by a response to a question, then SIDBI reserves the right to communicate
            such response to all Applicants.

            SIDBI may, in its absolute discretion, engage in discussion or negotiation with any
            Applicant (or simultaneously with more than one Applicant) after the Bids closes to
            improve or clarify any response.

      2.7      Notification:

            SIDBI will notify all short-listed Applicants i writing as soon as practicable about the
            outcome of their Bids. SIDBI is not obliged to provide any reasons for any such
            acceptance or rejection.

            Disqualification
            Any form of canvassing / lobbying / influence / query regarding shortlisting, status, etc.
            will lead to disqualification.

3.          About SIDBI

3.1         Small Industries Development Bank of India (SIDBI), set up on April 2, 1990 under an Act
            of Indian Parliament, is the Principal Financial Institution for the Promotion, Financing
            and Development of the Micro, Small and Medium Enterprise (MSME) sector and for Co-
            ordination of the functions of the institutions engaged in similar activities.

            SIDBI provides its services through a network of Branch Offices located all over India.
            Detailed information on the functions of SIDBI is provided on the website, www.sidbi.in

3.2         SIDBI offers several financial products and services for catering the financial needs of
            Micro, Small and Medium Enterprises (MSMEs) through its field level offices. These
            include the following broad areas:

               Direct Finance
               Bills Finance
               Refinance
               International Finance
               Promotion and Development
               Micro-finance

                                                                                            Page 9 of 27
                                                                 RfP  CA of Branch Operations  2019


4.        Project Particulars

4.1            Project Objective and Scope of Operations of SIDBI's Branches

               SIDBI's Branch Office(s) functions include credit dispensation under Direct Credit
               and other day to day operations of the Bank. The selected Chartered Accountants
               would undertake the concurrent audit of operations of the Branch (es) on daily/
               regular basis and based on their findings also regularly suggest measures to
               improve the functioning of operations of Branch of SIDBI. Assignment would also
               include verification and confirmation on the adequacy of internal controls and IT
               system for sustaining operations. The staff deputed by the firm / LLP of Chartered
               Accountants for carrying out the audit should be qualified Chartered Accountant
               and experienced in the area of work.

               Concurrent Audit covers the Branch Operations including its core functions such as
               credit appraisal, pre-sanction and post-sanction supervision mainly under Direct
               Credit, Working Capital, Receivable Finance, Refinance and other day to day
               operations, various lists/ statements being submitted to SIDBI towards finance
               availed by them and other Companies/ Banks/ Institutions covered under resource
               support business of the Bank. The objective and scope of the Concurrent Audit to be
               undertaken in the above centre are as under:

     A.        Objectives and Work areas of Concurrent Audit

          The main objectives and Work areas of the concurrent audit are as follows:
          a.   Verifying whether sanctions for advances and disbursement thereof is obtained from
               competent authority.
          b. Scrutinizing the completeness of documents submitted for availing advances and
             other facilities.
          c. Ensuring compliance of laid down systems, procedures and policies.
          d. Examining books of accounts, records and / or registers to ensure that they are
             maintained in accordance with the prescribed systems/ reconciled with general
             ledger.
          e. Physical checking of stocks financed under working capital scheme at relevant
             places.
          f.   Detection and arresting of leakage of income, if any.
          g. To follow up with authorities to ensure timely rectification of irregularities reported
             with regard to the operations of the branch and rectified on the spot/ during audit
             period itself.
          h. Verify prompt, timely and regular submission of the periodical and statutory returns.
          i.   Any violation of procedure is brought to light.
          j.   Reporting any irregularity in working which may result in financial or other loss to
               the Bank.
          k. Feedback on regulatory compliances.
          l.   Physical checking of live Bills under MSME-Receivable Finance Scheme.
          m. Verification of Daily Liability Register under MSME-Receivable Finance Scheme.


                                                                                        Page 10 of 27
                                                          RfP  CA of Branch Operations  2019


    n. Physical verification of approvals granted for discounting of Bills under MSME-
       Receivable Finance Scheme.
    o. Any other areas on the operations of the Bank which are vital, in nature.

B. Scope

a) Whether the transactions or decisions are within the policy parameters laid down by the
   Head Office.
b) Sanction and disbursement of loans & advances are within the policy parameters laid
   down by the Bank. All the loan disbursements are to be checked / verified by the
   concurrent auditors before actual disbursements and all the disbursement notes need to
   be signed off by the concurrent auditors (CA Partner/ Authorised Chartered Accountant)
c) Verify whether pre-sanction / pre-disbursement / post-disbursement visits are
   undertaken and reports are available on record.
d) Sanctions / disbursements are within the delegated authority.
e) Sanctions / disbursements do not violate the instructions or policy prescriptions of the
   RBI / other regulators.
f) Compliance to RBI guidelines relating to defaulters list / Caution Advice / CIBIL List / IBA
   caution list for Third Party Entity / fraudulent borrowers list, KYC / AML, etc. is done
   satisfactorily.
g) DoP has been exercised properly and Post Sanction Reporting (PSR), wherever applicable,
   is sent to Post Sanction Reporting Authority (PSRA).
h) Security creation has been done properly. All the prescribed and necessary documents
   are collected from borrowers.
i) Verify whether all charges of SIDBI on the assets mortgaged/ hypothecated are registered
   with Registrar of Companies (ROC)/CERSAI.
j) Pre-disbursement conditions are duly complied with. Deviations made, if any, are within
   the guidelines issued from time to time.
k) Verify the end use of term loan disbursed by the Branch for the purpose it is meant for.
l) Undertake visits, wherever necessary, to the projects under implementation and
   observation, if any, in terms of time over-run/ reasons for delay in implementation of the
   project, bring to the notice of the authority of the Branch.
m) All the receipts have been properly accounted for/ appropriated as per Bank's accounting
   policy.
n) All regulatory provisions/ guidelines are duly complied with (e.g. areas including TDS and
   service tax / professional tax/GST etc).
o) Whether in all cases where the statements/ documents (stock statement, No-lien account
   statement, project completion report, final list of machinery, Balance Confirmation
   Certificate, Acknowledgment of Debt, Annual report etc.) are not received even after a
   reasonable time, prompt action is taken by the Branch to get the same.
p) Verify whether there is any mis-utilisation of the loans and whether there are instances
   indicative of diversion of funds.
q) Detection & prevention of revenue leakages in the operation of the Branch through close
   examination of income and expenditure.
r) Verify whether there are any borrowal accounts (other than those reported by the
   Branch) which are showing early warning sinals or symptoms of sickness and/or can be






                                                                                   Page 11 of 27
                                                            RfP  CA of Branch Operations  2019


      classified as NPAs. If so, ascertain the reasons therefore and analyse the steps taken by
      the branch in the matter.
s) Verify whether the classification of loan assets of the Branch have been done properly and
   income recognition norms have been followed as per Bank's guidelines and procedure/
   RBI norms by the respective Branch.
t) Verify whether subsidy claims like CLCSS/TUFS etc. are as per the respective scheme and
   lodged timely with govt. authorities by the Branch through Head Office.
u) Verify whether claims submitted by Branch to CGTMSE and ECGC are in time.
v) Carrying out Credit Audit in respect of the eligible cases, as per the extant guidelines of
   the Bank.
w) Verify whether guarantee fee for coverage under CGTMSE is collected and deposited with
   Credit Guarantee Trust Fund.
x)      Verify the ratings (including CART ratings) and submission of a certificate in writing
      that the ratings (including CART ratings) are found to be correct. The discrepancies, if
      any, should be brought to the notice of the bank.
y)     Verify the updation of CIBIL data and report the status in the monthly audit report.
z)     Verify the details of flow of applications, time taken for appraisal of proposals, pending
      applications etc. with Express Loan Service Centre (ELSC) of the RO concerned / located
      at the same place and report the status in the monthly audit report.
aa) Verify whether assets have been verified by the BO within 30 days from the date of
   classification of account as NPA.
bb) Verify whether the proposals covered under JICA Line of Credit  Scheme for Energy
   Saving Projects in MSME sector and KfW Energy Efficiency LoC  Assistance for Energy
   Efficiency Products, respectively have been properly flagged in the DFS/ Flex Package.
   Also to verify whether the requisite Annexures prescribed for the purpose have been
   obtained and kept on record.
cc) Verify whether interest rate is charged as per approved rate of Interest.
dd)     To verify whether the Memorandum of Entry for creation of mortgage has been
      prepared/ pasted on Register.
ee)      Concurrent Auditors shall invariably look into updation of security value (primary and
      collateral  movable & immovable) in the (Recovery and NPA Management System) RNMS
      in respect of all loans.
C. Accounting

a)    The maintenance and balancing of accounts, ledgers and registers is proper.

b) Bank reconciliation  Verification of transaction both credit and debit is based on
   legitimate instruments. Comments/Confirmation on whatever reconciliation undertaken
   by the dealing offices is in order.

c)    Independently verify the transactions and accounts viz. receipts & payments validated
      through instruments, verify the process of reconciliation undertaken by BO of various
      sensitive accounts viz. Sundry, Suspense, Receipts Pending Appropriation, bank
      reconciliation etc., instead of reporting merely based on the certificates / statements by
      the branch officials.




                                                                                    Page 12 of 27
                                                             RfP  CA of Branch Operations  2019


d) Early reconciliation of entries outstanding in the Branch with regard to inter-branch and
   inter bank accounts, Suspense Account, Sundry Deposits Account, etc. Ensure early
   adjustment of entries in the Branch.

e)   To ensure that all the transactions viz. receipts, payments, journal vouchers are validated
     by proper instruments/ approval note, etc.

f)   To ensure that all the accounting transactions are carried out in accordance with the
     extant guidelines of the Bank.

g)   To scrutinize quarterly trial balance codes and verify the quarterly closing returns
     prepared by the Branch Office and sign off.

h) To examine and verify the appropriations done by the branch office for the repayments
   received during the month. The objective is to ensure that the appropriations done by the
   branches are correctly captured in the system and are in order so that correct position of
   overdues / dues / RPA etc. is reflected at the time of quarterly and annual closing of
   accounts as on March 31.

 D. Additional Scope for Working Capital Cases:

     To ensure that margin on stock/ book debts; Rate of Interest & Drawing Power is
     considered / fixed as per the terms of sanction.
     To ensure that the limits have not been made operational beyond the validity period,
     without approval of the competent authority for extension of the validity period.
     To ensure that the periodic visits to the borrower units have been undertaken as per the
     Scheme guidelines. The auditor may also undertake some sample visits along with BO
     officials on random basis and/ or on the basis of criticality of the account.
     To ensure that the monthly stock statement from the borrower is obtained in time and
     duly updated in the system.
     To scrutinize the monthly stock statements to ensure correct valuation/ calculation of
     drawing power (e.g. by exclusion of non-moving / obsolete stocks for calculation of DP
     and by excluding old & doubtful book debts, margins. etc.).
     To ensure that the inventories/ fully paid stocks as mentioned in the Stock statement
     furnished by borrowers for calculating drawing powers are correct and as per the books
     of borrower.
     To ensure that the CA certified book debt statements from the borrowers are obtained
     on half-yearly basis.
     To ensure that stocks are adequately insured as per the extant guidelines of the bank and
     are in the joint names / with bank clause and the policies are renewed on timely basis.
     To ensure that Quarterly Information System (QIS) statements & other financial
     statements are obtained, wherever applicable and indicate the observations on the
     general business operations / profitability etc.
     To ensure that stock audit is undertaken, wherever applicable and to ensure that the
     compliance of stock audit observations are met.
     To check the correctness of upfront fee, interest / penal interest, etc.
     To examine the overdue accounts closely (in terms of operations in the a/c, Stock & Book
     Debt statement, Credit Summation, QIS & other statements, Renewal, Cheque Bouncing
     etc.).

                                                                                    Page 13 of 27
                                                         RfP  CA of Branch Operations  2019


   To ensure compliance of extant guidelines, in case of multiple current accounts and / or
   multiple banking arrangement.
   To verify the correctness of security (primary & collateral), Legal compliance, ROC search
   etc.

E. Additional Scope for MSME-RFS Cases

   To ensure end use by undertaking visits & verification of documents of the MSME seller
   units.
   To verify MSME category of vendors & verify seller's certificates including KYC
   documents.
   To ensure that the visits to the vendors' units have been undertaken as per the extant
   guidelines of the bank. The auditor may also undertake some sample visits along with
   BO officials on random basis and / or on the basis of criticality of the transactions.
   To verify, due date-wise, liveBills under MSME-Receivable Finance Scheme.
   To verify whether Daily Liability Register is showing correct picture under MSME-
   Receivable Finance Scheme.
   To undertake visit to purchaser companies to verify the invoices under Trade
   Receivables Engine for E-discounting (NTREES).
   To verify seller / KYC documents under Trade Receivables Engine for E-discounting
   (NTREES).
   Safe custody verification as per extant guidelines.

F. Further Scope for Letters of Credit (LC) / Bank Guarantee (BG)

   Check whether LCs are for genuine trade transactions and necessary vouchers reflecting
   LC opening are passed by BO.


   Check whether the Letters of Credit issued by the branch are within the delegated
   powers.
   Check that LC commission is taken correctly and necessary vouchers passed.
   Check whether LCs are retired in time and necessary reversal vouchers are passed by BO.
   Check whether Guarantees are issued after vetting by Legal Department and guarantee
   number is auto generated from Direct Finance System.
   Check whether bank guarantees issued are properly worded and recorded in the register
   of the bank. Whether they have been promptly renewed on the due dates.
   Check that correct Guarantee commission is taken and necessary vouchers passed and
   Guarantee commission is appropriated quarterly.
   Check that Guarantees are closed and reversed in time as per extant guidelines.

G. Scope for Follow up & Monitoring

   Verify whether Registration of charge(s) under Central Registry for all eligible cases has
   been done.



                                                                                Page 14 of 27
                                                                  RfP  CA of Branch Operations  2019


          Verify whether RAM / CART ratings are approved and printouts of the same are available
          on record.
          Verify whether Annual Review and Re-rating of the accounts as per guidelines has been
          done.
          Verify whether demand advices are raised correctly and sent in time as per extant
          guidelines.
          Verify whether Safe Custody verification is being carried out by BO as per the extant
          guidelines.
          Verify whether insurance cover for the assets charged to SIDBI has been obtained/
          available.
          Verify whether validation of sanction / review of undisbursed sanctions has been carried
          out as per extant guidelines.
          To verify / review the interim disbursements / final security creations.
          The above areas of operation are illustrative and not exhaustive.

4.2               The CA will have to submit the following reports to the Management:

  (A) Reports relating to Operations in Branch

          (i)        Monthly reports covering Branch's day-to-day operations including its core
                     functions such as credit appraisal, pre-sanction and post-sanction supervision
                     mainly under Direct Credit, Working Capital, Receivable Finance and other
                     operations towards finance availed with regard to their correctness, compliance
                     to the terms and conditions of sanction, post disbursement, supervision,
                     documentation, review/renewal of limits, bills discounting, KYC norms,
                     monitoring of business risks, compliance of Delegation of Powers, etc.
                     Monthly reports shall cover comments on adherence to regulatory, internal
                     policy, procedure, guidelines, compliance of Delegation of Powers and areas of
                     audit as indicated at para 4.1.
          (ii)       Any other related report as may be required by SIDBI from time to time.
          (iii)      The CA shall be accountable, on its part, for wrongly verifying any document or
                     signing off disbursement notes or such other important documents based on
                     which the Bank takes a decision.
          The above reports with regard to operations of the respective Branch Office in the area
          of credit dispensation and other day to day operations shall be submitted in the
          following manner to the Regional Offices concerned.

                                                      Name of the
                    Name of the Branch Office
 Sl. No.                                             Regional Office                Remarks
                              (BO)
                                                          (RO)
      1           Ahmednagar BO                           Pune           i. Monthly Concurrent Audit
                                                                              Report shall be submitted
      2           Chinchwad BO                            Pune                in the Audit Software by 7th
                                                                              of the following month.
                                                                          ii. Duly signed hard copy shall
      3           Jallandhar BO                        Chandigarh             be submitted to BO and RO.
                                                                        iii. Scanned copy of duly


                                                                                           Page 15 of 27
                                                                  RfP  CA of Branch Operations  2019


     4        Jodhpur BO                                Jaipur             signed and stamped report
                                                                           shall be forwarded to
                                                                           A&FMV      by   mail    i.e.
     5        Kishangarh BO                             Jaipur
                                                                           auditvertical_ho@sidbi.in

     6        Kochi BO                                  Chennai


         Details of operating guidelines will be provided to the concurrent auditors. Necessary
         training/ consultation required would be provided to them for enhancing the quality of
         the audit. They would be made aware of the guidelines and circulars issued subsequent
         to commencement of assignment and having impact on the concurrent audit, to keep
         them abreast of the changes in the operational and regulatory guidelines.

         SIDBI will prescribe structured formats for the audit reports and also stipulate the time
         limits for submission of the reports. The audit formats would be reviewed on annual
         basis. The firm/ LLP should strictly adhere to the format and the time limit. SIDBI may
         prescribe different periodicity for different reports of the same branch.

5.       Fixed Fee Structure

              The fee structure / inclusion / exclusion of the BOs under this mechanism are based
              on the outstanding portfolio of the BO as at the end of previous financial year. The
              award of contract to CA firms / LLPs to undertake concurrent audit will be as per fee
              structure issued by the Bank from time to time. The present five slab fee structure,
              based on the outstanding portfolio size, is indicated below:
                                       Basic Fee Payable
         Outstanding Portfolio                                             BOs covered
                                           Per Month
         (MSME Direct Credit)                                             under each slab
                                        (excluding GST)
              Upto ` 100 crore             ` 15,000/-                 Ahmednagar, Jallandhar

                                                             Chinchwad,       Jodhpur,    Kishangarh
             Above ` 100 crore            ` 20,000/-        Kochi.
              uto ` 150 crore

            Note:
              i. Maximum upto 5% annually enhancement in remuneration may be considered,
                  if the Direct Credit balance outstanding of the BO is within the existing slab
                  and the contract is renewed, after one year, provided the performance is
                  found satisfactory.

             ii.   The professional fee thus fixed will continue till the next renewal. At the time
                    of renewal, any increase or decrease in direct credit balance outstanding of
                    the BO will be reckoned for fixing the professional fee.

         No out of pocket expenses or traveling allowance / halting allowance would be paid to
         the concurrent audit firm / LLP for carrying out the audit. However, the service tax,
         education cess/GST, etc. would be paid by the Bank, as applicable, in addition to the basic
         fees. The payment to the concurrent auditors would be subject to deduction of tax at
         source, at applicable rates.
         The Outstanding Portfolio (MSME Direct Credit) of the BOs are given at Table  I at
         Para 1.1

                                                                                         Page 16 of 27
                                                                  RfP  CA of Branch Operations  2019


6.         Selection Criteria for Concurrent Audit of BOs.
6.1 Selection Process:
           This RfP will be assessed on the following Selection process: -
           Invite Request for Proposal (RfP) wherein Technical Evaluation is submitted in sealed
           envelope.
Technical evaluation:

a)      The Applicant is required to submit the details of its proposal in a sealed envelope. The
        envelope should be superscribed "For Technical Evaluation" for the said Concurrent Audits
        and should contain detailed statement giving the various technical particulars of the
        proposal covering aspects of the applicant like name and location, year of establishment,
        names of its partners, staff, their qualification / experience, registration number of the firm /
        LLP, details of ICAI membership / Certificate of Practice details, methodology proposed and
        all other such relevant particulars in the format given in Annexure I.

b) A pre-evaluation meeting would be held to clarify on points, if any, if desired by the
   intending applicants.

c)      After the expiry of time for submission of Bids / application, the envelope containing the
        compliance on the "Technical Evaluation" would be opened in respect of all the applicants to
        verify the compliance of the applicants with the prescribed Technical Evaluation
        requirements.

d) The Technical Evaluation of Bids/ Application would be carried out by SIDBI. The list of
   technically qualified applicants would be short listed.

Pre-Requisite for Applying:

     The Applicant should:

           furnish proof of Valid registration / Certificate of Practice from the Institute of
           Chartered Accountants of India (ICAI).

           be a Partnership firm/ LLP of Chartered Accountants with minimum 3 partners of
           which at least 2 partners should be FCA(s). At least one partner should have a
           continuous association with the firm of a minimum of 5 years and another partner
           should have a continuous association with the firm of a minimum of 3 years.

           has minimum five years of previous track record of carrying out concurrent audits in
           other Financial Institutions / Public/private Sector Banks mainly in the area of
           credit dispensation under Direct Credit and other day to day operations of the bank
           (with documentary proof).

           CA firm should get Min Score  50 Marks in Rating Chart.

           CA firm has its HO or Branch office at SIDBI's Branch location (In case of Chinchwad
           BO and Kishangarh BO, the applicants from Pune and Ajmer respectively shall also
           be considered).

Without compliance of the above pre-requisites, the applicant will not be eligible for
applying.

                                                                                           Page 17 of 27
                                                                     RfP  CA of Branch Operations  2019


                                      The Rating Chart is given below:
                                                                                                      Maximum
Sl.                                            Criteria                                                Marks
No.                                                                                                  (Weightage)
 i     Year of establishment of Chartered Accountant firm/ Limited Liability Partnership
       (LLP) of Chartered Accountants.
        Upto 5 years- 10 Marks
                                                                                                         20
        5 to 10 years  12 Marks
        10 to 15 years-15 Marks
        More than 15 years-20 Marks
ii.    Firms/Liability Partnership (LLP) of Chartered Accountants with minimum 3
        partners of whom at least two should be FCA. At least one partner should have a
        continuous association with the firm of a minimum of 5 years and another
        partner should have a continuous association with the firm of a minimum of 3
        years. (20 Marks)
          In addition to the above, firm having a retired commercial banker as Partner /
          Employee. (With Documentary proof)
           ( One Banker - 6 marks)                                                                       40
           ( 2 Bankers - 8 marks)
           ( 3 or more Bankers - 10 marks)
          Experience of key personnel assigned (as per the curriculum viate)

          1.5 marks to be awarded for each additional partner (over and above 3
         partner) of the firm and 01 mark for full time CA employee (Maximum marks-
         10)
iii    Minimum five years of previous track record of carrying out such audits in other
        Financial Institutions / Public/private Sector Banks mainly in the area of credit
        dispensation under Direct Credit and other day to day operations of the Financial
                                                                                                         20
        Institution / bank (with documentary proof).  15 Marks
       In addition to the above, firm having previous track record in the area of credit
        dispensation under MSME  Additional 5 marks.
iv.   Whether the firm/ LLP empanelled with RBI as
       Statutory Central Auditor  10 Marks
                                                                                                         10
       Statutory Branch Auditor (Category I)  7 Marks
       Statutory Branch Auditor (CategoryII) 5 Marks
v.
      Availability of suitable infrastructural facilities including office set up, adequate
      manpower who are specialized in the area of audit of Branch Operations mainly in the
      area of credit dispensation under Direct Credit and other day to day operations of the
      Bank. Presence in India-number of offices and permanent manpower along with regular
                                                                                                         10
      set-up, either Head Office or full-fledged Branch Offices, at respective locations (locally)
      of SIDBI branches (In case of Chinchwad BO and Kishangarh BO, the applicants from
      Pune and Ajmer respectively shall also be considered).
           Branch (locally) - 5 marks
        Head Office (locally) - 10 marks

                                     Maximum technical score                                            100




                                                                                              Page 18 of27
                                                        RfP  CA of Branch Operations  2019



        The applications received would be examined by "Applications Opening and
        Evaluation Committee" which would be constituted at Head Office Level at
        Lucknow.
        All applicants scoring 50 marks and more (in technical Evaluation) will be
        selected as the Technically Qualified Applicant. The top 3 applicants as the case
        may be getting the maximum marks in Technical Evaluation will be given
        preference.
        Due diligence will be carried out for the top three applicants getting the maximum
        marks.
        Preference would be given to the applicants where the partners themselves are ex-
        bankers with requisite experience and exposure and the firms having qualified
        Information System Auditor (CISA/ DISA) with necessary exposure of systems audit.
        On the recommendation of the Committee, name of the successful applicant
        would be identified and empanelled for the Branch.
        The final selection of the successful applicants from the technically qualified
        applicants    will   be     done,    based    on    marks     scored     in  Rating
        Chart and due diligence carried out by SIDBI.
        In case the applicant with the highest marks declined the assignment for
        concurrent Audit or discontinued the contract for whatsoever reasons by the
        Bank, the next applicant with second highest marks would be
        assigned/empanelled from the empanelled list.

7.   Terms of the contract:

        The selected firm/ LLP of Chartered Accountant would initially be assigned the
        contract for a period of one year upto June 30, 2020 extendable for further two
        more years (extended for one year, at a time), provided the performance is found to
        be satisfactory on review and on sole discretion of SIDBI, with not more than 5%
        increase in professional fee. The proposed assignment would be subject to periodical
        review at the discretion of SIDBI and is liable to be terminated at any time, if not
        found satisfactory, by giving a written notice of 15 days.

8.   Terms & Conditions:

         The applicant appointed as concurrent auditor shall nominate a CA or retired bank
         officer who will head the concurrent audit team as the "Designated Auditor" duly
         authorised by the FCA partner of the CA firm/LLP to act on behalf of the firm. The
         Designated Auditor would be required to submit his/her identity proof and address
         proof together with specimen signatures with a request to be allotted biometric
         enabled unique login ID for access to the system. The Designated Auditor would
         require to log in and log out of the system each working day. The Designated
         Auditor would require to surrender the login ID on completion of the concurrent
         audit tenure or on any change in the Designated Auditor by the firm/LLP.

        The audit team composition for Concurrent Audit and attendance requirements
        should be specified as under:



                                                                               Page 19 of 27
                                                      RfP  CA of Branch Operations  2019




   a) The designated FCA partner of the firm / LLP who shall visit the branch office at
      least 4 days in a month.

   b) Chartered Accountant / Retired Bank Officer who shall visit the branch
      preferably on all working days but for a minimum of 20 days in a month.

   c) Chartered Accountant / Retired Bank Officer who lead the concurrent team
      should have the authority to sign off the disbursement notes.

   d) Audit assistant who shall visit the branch preferably on all working days but for a
      minimum of 20 days in a month.

   A declaration to be furnished by the applicant that credit facilities availed by the firm
   or partners or firms in which they are partners or directors including any facility
   availed by a third party for which the firm or its partners are guarantor/s have not
   turned or are existing as non-performing assets as per the prudential norms of RBI.
   In case the declaration is found incorrect, the assignment would get terminated
   besides the firm being liable for any action under ICAI / RBI guidelines.
   The applicant must submit an undertaking that the firm / LLP does not have any
   professional relationship with any of the borrowers of SIDBI nor will it in future
   accept professional relationship with any of the borrowers of SIDBI during the
   period during which the firm / LLP acts as the concurrent auditor for SIDBI.
   On appointment, the Applicant shall execute an undertaking of fidelity and secrecy
   on its letterhead in the format prescribed by the Bank.
   The concurrent auditor should adhere to the audit coverage strictly as per the scope
   as may be decided by the Bank from time to time.
   The concurrent auditors should not undertake any other activities / assignment on
   behalf of the branch without obtaining the concurrence of the Audit & Fraud
   Management Vertical at Head Office, in writing.
   The CA should attend Preventive Vigilance Committee (PVC) in the Bank which
   discusses and deliberates on various operational and administrative aspects
   concerning Vigilance administration in the ROs/ BOs. The meeting of the PVC takes
   place at least once in a quarter in the succeeding month of every quarter at the
   concerned Regional Office of the Bank.
   The concurrent auditors will co-operate with investigative body, regarding
   processing or execution of the consultancy contract or any matter related with
   discharge of contractual obligations.
   No out of pocket expenses or traveling allowance / halting allowance would be paid
   to the concurrent auditors for carrying out the audit. However, the service tax,
   education cess / GST etc. would be paid as applicable from time to time in addition to
   the basic fees. The payment to the concurrent auditors would be subject to
   deduction of tax at source at appropriate rates.








                                                                              Page 20 of 27
                                                               RfP  CA of Branch Operations  2019


              The concurrent auditors would give rating or grade to the Branch, if desired by
              SIDBI.
              Necessary arrangement would be made for providing space, workstation and access
              to systems (viewing rights only) to the concurrent auditors for ensuring smooth
              conduct of the audit. This would be the responsibility of the Bank. The Branch In-
              charge will shoulder the responsibility of the arrangements.
              The Applicant shall ensure that the audit firm/ LLP or any sister / associate concern,
              is not conducting the statutory audit of the Bank or any of its branches.
              The Applicant shall ensure that the audit be carried out in a professional manner and
              in case of any misconduct & negligence, the Bank may approach the concerned
              professional bodies with complaints of professional misconduct, if any, on the part of
              any professional engaged by the Bank. Accordingly, we may also recommend their
              name to ICAI / RBI /IBA or any other authority, for suitable action thereon by them.
              The Applicant shall ensure that it will not sub-contract the audit work assigned to
             any outside firm/ LLP or other persons even though such persons are qualified
              Chartered Accountants.
              The concurrent auditor shall be granted read only access to the systems at the
              branch office.
              The concurrent audit report shall be pre formatted and available on the SIDBI's
              systems to the Designated Auditor who shall be required to enter the audit findings
              into the system on a day-to-day basis.
              The concurrent auditor shall not be allowed to carry any mass storage device such as
              pen drive/flash drive/thumb drive or any lap top inside the branch premises as
              these devices will not be required for the job. Concurrent auditors shall be provided
              with computer system with disabled USB ports by the concerned branches
              The concurrent auditors are required to plan the audit that it results in gradual
              shortening of the interval between a transaction and its examination by an
              independent person. The concurrent auditor shall perform substantive checking in
              key areas and emphasis should be on `on the spot' rectification of deficiencies. The
              concurrent auditor shall daily go through all the vouchers and books of the branch
              for the previous day and identify areas to be scrutinised in detail.
              Should maintain and keep back up papers in support of observations made.
              Any other terms and conditions of the assignment would be decided by the Bank on
              a case-to-case basis.

9.        Guidelines & Instructions

     i.   SIDBI will endeavour to make available all relevant information in the RfP. In case of
             need of any further information or clarification during the application period, the
             applicant must contact only the Contact Officer named above. On no account should
             the Applicants communicate directly with any other SIDBI personnel. Failure to
             comply with this requirement may result in the disqualification of the applicant from
             this process of bidding.


                                                                                       Page 21 of 27
                                                               RfP  CA of Branch Operations  2019


ii.    Government Tax

        Applicants are responsible for establishing the status of the Services for the purpose of
        any government tax including GST, cess etc.

iii.    Alterations to Application

        Any manuscript or other alteration to the RfP / Application must be countersigned and
        dated by the person submitting the RfP / application.

iv.     Letters and Declaration to Accompany Applications:

        The RfP / Application must be accompanied by a letter on Firm/ LLP letter head
        showing the full registered name(s), registered office address of the applicant. It
        should be signed by a person of suitable authority to commit the applicants to a
        binding contract.

v.      Packaging and Delivery of Applications:

        Applications must be delivered in a double sealed envelope clearly labeled with the
        following:

               1.      Selection of CA for operations at ___________ BO.
               2.      Application Due Date
               3.      Applicant's Name
        SIDBI accepts no responsibility for the premature opening of any incorrectly marked
        Applications.

        Applications must be received at Audit & Fraud Management Vertical, Small
        Industries Development Bank of India, SIDBI Tower, 15, Ashok Marg, Lucknow 
        226001 (U. P.) for the attention of The General Manager by 2.00 PM on the due date.
        Late applications will not be accepted under any circumstances and will be returned
        unopened. No special pleadings will be accepted. Fax or e-mail applications will not be
        accepted.

vi.     Conflict of Interest:

        Applicants must disclose in their application, details of any circumstances, including
        personal, financial and business activities that will, or might, give rise to a conflict of
        interest; this includes any sub-contractor, if they were awarded this contract. Where
        applicants identify any potential conflicts they should state how they intend to avoid
        such conflicts. SIDBI reserves the right to reject any application which, in SIDBI's opinion,
        gives rise or could potentially give rise to a conflict of interest.

vii.    Disclosures:

        The applicant must disclose:

        a.   If they are or have been the subject of any proceedings or other arrangements
             relating to bankruptcy, insolvency or the financial standing of the applicant


                                                                                       Page 22 of 27
                                                                RfP  CA of Branch Operations  2019


             including but not limited to the appointment of any officer such as a receiver in
             relation to the applicant's personal or business matters or an arrangement with
             creditors or of any other similar proceedings.

        b.   If they are OR any of the applicant's staff have been convicted of, or are the subject
             of any proceedings, relating to:

                a criminal offence or other offence, a serious offence involving the activities of a
                criminal organisation or found by any regulator or professional body to have
                committed professional misconduct.
                corruption including the offer or receipt of any inducement of any kind in
                relation to obtaining any contract, with SIDBI, or any contracting authority.
                failure to fulfill any obligations in any jurisdiction relating to the payment of
                taxes or social security contributions.

        Disclosure extends to any entity in the same group of the applicant (including but not
        limited to parent subsidiary and sister companies, and companies with common
        shareholders whether direct or indirect and parties with whom the applicant is
        associated in respect of this application / RfP).
        If an applicant or related entity or any individual discloses details of any previous
        misconduct or complaint, SIDBI will seek an explanation and background details from
        them. At the sole discretion of SIDBI and assessment as to whether the applicant will be
        allowed to submit an application, decision will then be made by SIDBI.
viii.   Indemnity

        The successful applicant shall exercise reasonable skill, care and diligence in the
        performance of the assignment and indemnify and keep SIDBI indemnified in respect of
        any loss, damage or claim howsoever arising out of or related to breach of contract,
        statutory duty or negligence by the firm/ LLP or its staff, agents or sub-contractors in
        relation to the performance or otherwise of the Services to be provided under this
        Contract.
ix.     Assigning to Others

        The successful applicant shall not, without the prior written consent of SIDBI, assign or
        transfer or cause to be assigned or transferred, whether actually or as the result of take
        over, merger or other change of identity or character of the CAs, any of its rights or
        obligations under the Contract or any part, share or interest therein. Upon any such
        assignment or transfer, this engagement may forthwith be terminated by SIDBI.

x.      Termination

        SIDBI may, at its sole discretion and at any time after giving 15 days notice can terminate
        the Contract and inform the CAs of SIDBI's decision by written instruction to that effect.
        In the event of the Contract being so terminate, the firm/ LLP shall take such steps as
        are necessary to bring the Services to an end, (including terminating any sub-contracts
        placed by the firm/ LLP) in a cost effective, timely and orderly manner. No further
        correspondence will be entertained in this regard.

                                               **************

                                                                                       Page 23 of 27
                                                                        RfP  CA of Branch Operations  2019


                                                                                                  Annexure I
                       Technical Evaluation for Concurrent Audit of Branch Operations

      A)         Audit Firm / LLP Details:

Sl. No. Requirements                                                                                      Remarks
  1   Name of the Chartered Accountant Firm/ LLP with year of establishment.

  2   Registration Number / Certificate of Practice from the Institute of Chartered Accountants
      of India (furnish documentary proof, Registration should be valid).
  3   Knowledge and experience in carrying out audit of Branch Operations mainly in the area
      of credit dispensation under Direct Credit and other day to day operations.

  4   Details of every partner including experience, qualification etc. and their Registration
      number with CA Institute (furnish a detailed list of all the partners)

             Sl.      Name of the        Age    Educational        Experience         Period of
             No.       Partner                  Qualification                      Association with
                                                                                       the firm



  5   Previous track record of carrying out such audits in other Financial Institutions / Public
      Sector /Private Sector Banks mainly in the area of credit dispensation under Direct
      Credit/MSME for last 5 Financial Years and other day to day operations of the Financial
      Institution / bank (furnish documentary proof)

  6   Whether the firm/LLP empanelled with RBI (furnish documentary proof).
  7   Availability of suitable infrastructural facilities including office set up (Branch office/
      Head office at location of SIDBI's Branch may be specifically indicated), adequate
      manpower who are specialized in the area of audit of Branch Operations mainly in the
      area of credit dispensation under Direct Credit and other day to day operations of the
      Financial Institution / bank. Competence and qualification of key professional staff who
      shall carry out the assignment in a time bound manner (furnish a detailed list of all the
      skilled / semi skilled employees / staff).

  8   Whether the firm has a retired commercial banker as Partner/ Employee. If `YES' furnish
      details as under :-

           Sl.      Name of   Name of    Designation   Presen   Qualification   Experience   Period of
           No.        the     the bank   at the time    t Age                                Associatio
                   Partner/     from          of                                             n with the
                   Employee    where     retirement                                             firm
                               retired




  9   Whether the audit firm/ LLP or any sister / associate concern is conducting the statutory
      audit of SIDBI or Concurrent Audit in any of SIDBI branches.




                                                                                                 Page 24 of 27
                                                                  RfP  CA of Branch Operations  2019


 Note:

1.     All the relevant details & documentary evidences are to be furnished. The above is
       only a format. Information may be submitted in additional sheets.

2.     The following declaration/ undertaking shall be furnished by the firm
      a)     The firm/ LLP shall agree to execute undertaking of fidelity and secrecy on its letterhead
             in the format prescribed by the Bank, if the contract assigned.

      b) A declaration to be furnished by the firm that credit facilities availed by the firm or
         partners or firms in which they are partners or directors including any facility availed by
         a third party for which the firm or its partners are guarantor/s, have not turned or are
         existing as non-performing assets as per the prudential norms of RBI. In case the
         declaration is found incorrect, the assignment would get terminated besides the firm
         being liable for any action under ICAI / RBI guidelines.

      c)     The firm / LLP must submit an undertaking that the firm / LLP does not have any
             professional relationship with any of the borrowers of SIDBI nor will it in future accept
             professional relationship with any of the borrowers of SIDBI during the period during
             which the firm / LLP acts as the concurrent auditor for SIDBI.

 B)          Details of Concurrent Audit of Branch Operations mainly in the area of credit
             dispensation done in banks / FIs.

1. Details of Statutory Branch Audits (Category  I / II) of various banks' branches

                                                                 Year of Audit / Period (From -
           Sr.
                     Name of the Bank             Branch         To) [Data required for the past
           No.
                                                                 10 years of your firm]



2. Details of Concurrent Audits of various banks' branches

                                                                 Year of Audit / Period (From -
           Sr.
                     Name of the Bank             Branch         To) [Data required for the past
           No.
                                                                 10 years of your firm]



3. Details of Statutory Central Audits (Category - I) of various Banks

                                                                 Year of Audit / Period (From -
           Sr.
                     Name of the Bank             Branch         To) [Data required for the past
           No.
                                                                 10 years of your firm]




                                                                                          Page 25 of 27
                                                          RfP  CA of Branch Operations  2019


                                        Declaration
                   (to be furnished in the letter head of the firm/ LLP)



             We hereby declare that the information submitted above is complete in all
respect and true to the best of our knowledge. We understand that in case of any
discrepancy or inconsistency or incompleteness is found in the information submitted
by us, our application is liable to be rejected.




Date:                                                   Authorised Signatory




                                                                                 Page 26 of 27
                                                               RfP  CA of Branch Operations  2019


                                    Declaration of Eligibility

                        (to be furnished in the letter head of the firm/ LLP)

             I/We _______________________________Chartered Accountants hereby declare that I/We
comply with the eligibility conditions specified established under the Chartered Accountants Act,
1949, and I/We declare that:

None of the Partners of the firm have any disciplinary proceedings under the Chartered
Accountants Act, 1949 pending against him/her or any disciplinary action under the Chartered
Accountants Act, 1949 / penal action under any other law taken / pending against him/her.

It is further confirmed that the firm is not the Statutory Auditor of Small Industries Development
Bank of India (SIDBI).

None of the Partner of the firm holds any shares or other securities (including options or
futures) in Small Industries Development Bank of India (SIDBI).

Our firm will continue to satisfy the eligibility norm for appointment of Chartered Accountants
as Concurrent Auditors as prescribed by the Bank from time to time.

                  I/ We understand that any breach of the provisions regarding eligibility shall
be considered as gross negligence and may result in appropriate action under the Chartered
Accountants Act, 1949.



                                                                          For ________________________
                                                                           Chartered Accountants


Place: ______________
Date: _______________
                                                                       Partner




                                                                                       Page 27 of 27

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions