CIN: L74899DL1970GOI005276 Website: www.hudco.org
REGISTERED OFFICE: HUDCO BHAWAN, CORE 7A, INDIA HABITAT CENTRE,
LODHI ROAD, NEW DELHI -110003
GSTIN: 07AAACH0632A1ZF
INVITATION OF BIDS
Appointment of Professional CA
Firm as IND AS Consultant for a
period of one year.
Page 1 of 16
NOTICE FOR INVITATION OF APPOINTMENT OF CA FIRM AS IND-AS
CONSULTANT FOR A PERIOD OF ONE YEAR.
CHAPTERS
S. No Chapter Page No.
1 Introduction about HUDCO 3
2 Brief Details of Bids & Instruction to bidders 4-6
3 Scope of Work 7-8
4 Technical Criteria of Firm 8-9
5 Major Terms and Conditions 9-10
6 Procedure for submission & Opening of Bids 10-11
7 Rejection of Bid 11
8 Declaration 11
9 Format for Technical Bid-Annexure I 12-14
10 Format for Financial Bid-Annexure II 12-15
Page 2 of 16
CHAPTER 1: INTRODUCTION
1.1 Housing and Urban Development Corporation Limited (HUDCO), a
premier techno-financial institution owned by Government of India (GOI), is
under the administrative control of Ministry of Housing and Urban Affairs.
HUDCO was set up in 1970 and mandated with the task of providing loans
for housing and urban infrastructure projects in India. We have been
conferred the status of Mini Ratna (Category-I Public Sector Enterprise) by
the Government of India.
We classify our housing finance loans into social housing, residential real
estate and retail finance, which is branded as HUDCO Niwas (collectively,
Housing Finance).
With respect to urban infrastructure finance, we provide loans for projects
relating to:
Water supply;
Roads and transport;
Power;
Emerging sectors, which includes SEZs (special economic zones),
industrial infrastructure, gas pipelines, oil terminals and telecom
sector projects;
Commercial infrastructure and others, which includes shopping
centres, market complexes, malls-cum-multiplexes, hotels and
office buildings;
Social infrastructure and area development; and
Sewerage, drainage and solid waste management (collectively,
"Urban Infrastructure Finance").
1.2 The Issued and Paid-up Equity Share Capital of the Company as on March
31, 2019 is Rs. 2001.90 crore divided into 2,001,900,000 equity shares of
Rs. 10/- each. After disinvestment in 2017-18, the shareholding of
President of India has been reduced to 89.81% which is held through the
Ministry of Housing &Urban Affairs 69.08% and Ministry of Rural
Development 20.73% respectively.
Financial Highlights for Quarter ending December, 2019 & for F/Y 2018-2019
Amount in Crores
Particulars 9 months Yearly
December, 2018-2019
2019
Revenue from Operations 5643.63 5547.64
PAT 1267.46 1180.15
Net Worth 12178.96 10954.76
Balance Sheet Size 74279.32 72828.33
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CHAPTER 2: BRIEF DETAILS OF BIDS & INSTRUCTION TO BIDDERS
BRIEF DETAILS OF BIDS
2.1 The Company intends to engage a consultant for professional services in
Ind AS on retainership basis. This invitation is issued to invite Bids from
eligible CA firms and shortlist consultant for professional services in Ind
AS on retainership basis. This document is neither a recommendation, nor
offer or invitation to enter into a contract, agreement or any other
arrangement in respect of the services.
2.2 The Company intends the engagement of Ind AS consultant for assistance
in preparation of quarterly and annual financial statements on standalone
and consolidated basis for a period of one year, finalizing Ind AS
accounting policies and procedures, replying to the queries of Statutory
Auditors and CAG and implementation of new standard/changes in the
existing standards as and when proposed in Ind AS by the regulatory
bodies etc.
2.3 One hard copy of Part-I & Part-II each of Bids as stated in chapter 9
below, in two separate sealed envelopes duly marked as "ORIGINAL"
and also mentioning the name and address of the firm on the envelopes
needs to be submitted in one sealed and marked master envelope labelled
"Bid for rendering services as Ind AS Consultant" are invited by
GENERAL ACCOUNTS DEPARTMENT, HUDCO at Head Office (Core
7A, HUDCO Bhawan, India Habitat Centre, Lodhi Road, New Delhi-
110003) from bonafide & reputed professional firms of Chartered
Accountants engaged in the field of Ind AS consultancy having adequate
infrastructure and establishment, for rendering professional consultancy
services in the field of Ind AS.
2.4 The bids can be submitted till 1100 hours of 20th March, 2020.
2.5 In case the firm wants to revise its bid before the bid closing date then the
envelops should be clearly marked as "REVISED BID". In the revised bid
all the documents shall be enclosed and also undertaking that the firm has
voluntarily withdrawn its original bid. In this case, the original bid will not be
opened.
2.6 The applicants shall be required to render Professional Services in the
field of Ind AS Consultancy on Retainership basis for the period of one
year starting from the date of appointment.
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2.5 Technical Bid
2.5.1 The Firm (referred as "applicant") should meet the Technical criteria
(Chapter no. 4) to come under the purview of "Technical
Feasibility".
2.5.2 In support of fulfilling Technical Feasibility criteria, the applicants
shall be required to submit entire set of documents along with
EMD or the MSME registration certificate as mentioned at point
2.14 on page 6 in a separate sealed cover, super scribing -
"PART- I Professional Services in Ind AS Consultancy
TECHNICAL BID". The said envelope should be inside the
main envelope as already stated at para 2.3 above.
2.6 Financial Bid
2.6.1 The Firm (referred as "applicant") should be Technically Eligible to
be considered for evaluation of "Financial Bid".
2.6.2 The applicants in support of their Financial Bid shall be required to
furnish their offer in a separate sealed cover, super scribing
"PART-II Professional Services in Ind AS Consultancy
FINANCIAL BID". The said envelope should be inside the main
envelope as already stated at para 2.3 above.
INSTRUCTION TO BIDDERS
2.7 The bidder shall be responsible for all costs associated with the
preparation of this proposal, if any, regardless of the conduct or outcome
of the bidding process.
2.8 In case of any dispute, whatsoever, in connection with the invitation,
decision of HUDCO shall be final and binding.
2.9 Bidders should ensure that bid is delivered before scheduled date, time
and place as per instructions given in chapter 7 of this invitation. Late bids,
including postal delay, will be outrightly rejected. If the last date of
submission and opening of the bid happens to be a holiday, the bid shall
be opened on the next working day, keeping the last day of receipt of the
bidding as the same.
2.10 The proposal submitted by the bidder should be valid for acceptance for a
period of 60 days from the opening of Technical Bid. In exceptional
circumstances prior to expiry of original bid validity period, HUDCO may
require the bidder to extend the period of validity for a specified additional
period.
2.11 This document/invitation is not transferable. The invitations and all
communications pursuant to its terms are confidential and are not to be
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disclosed to any person other than the addressee without prior written
consent of HUDCO.
2.12 The company will not entertain any communication by the applicants
received after the last date of submission. However, the company may, in
its absolute discretion, seek additional information or material or evidence
from applicant after the last date.
2.13 The scope of work shall be as defined in Chapter 3 of the bidding
document.
2.14 Non-Interest bearing EMD (Earnest Money Deposit) of 2% on the
estimated cost (i.e. Rs. 7200/-) shall be paid to HUDCO through online
mode, details of which are as under:
Name of the Bank HDFC Bank Ltd.
Branch Name & Address B-3-4, Suryakiran Building 19, KG
Marg, New Delhi
Beneficiary Name HUDCO Ltd.
Account No 00030350017801
IFSC HDFC0000003
EMD shall not be accepted in any other mode except as stated above.
However, MSME Firms would be exempted from payment of EMD. In
support of their exemption from payment of EMD, the MSME bidder would
be required to submit copy of their registration certificate. Further,
submission of EMD in physical/ any other mode shall lead to
disqualification. EMD shall not carry any interest.
2.15 At any time prior to the deadline for submission of bids, HUDCO may, for
any reason, modify the bidding document by issuing addendum.
2.16 A bidder shall submit only one bid for entire scope of work. Assigning part
of work/tie up arrangement for providing professional services indicated in
this notice is strictly not allowed. Splitting the financial bid into parts is not
allowed.
2.17 The bidder shall quote fees only as per the prescribed format (As per
Annexure-II). In the price bid, the bidder shall quote both in words and
figures without any correction or overwriting. The prices quoted by the
bidder shall remain firm, fixed and on quarterly basis (Applicable taxes to
be indicated separately).
The estimated price bid is 90,000/- excluding taxes for each quarter
(maximum limit).
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2.18 Non-interest bearing EMD received from unsuccessful bidders shall be
refunded online on appointment of selected firm as Ind AS consultant of
HUDCO.
2.19 HUDCO reserves the right to cancel the process of appointment of Ind AS
consultant at any point of time before the award of work.
CHAPTER 3: SCOPE OF WORK Ind AS Consultant
The scope of services for a period of 1 year would include the following
works. The list below is indicative not exhaustive:
1. Assisting in Preparation of IND-AS compliant quarterly/half yearly/ yearly
accounts (Standalone & Consolidated) falling during the tenure of contract.
2. Assisting in Preparation of IND-AS compliant financial statements and
comment thereon including Notes to Accounts and its Audit from the
Statutory Auditors and CAG auditors.
3. Assisting in Finalizing Ind AS accounting policies and procedures
(Standalone & Consolidated) including Inputs & review of policies and
statutory regulations.
4. Assisting in replying to the queries of the Office of Statutory Auditors and
CAG during the audit of IND-AS compliant financial statements which are
falling during the tenure of contract.
5. Assist in computation of matters relating to taxation required for the
purpose of preparation of Ind AS complaint accounts as mentioned above,
and matters incidental thereto arising from companies Act, 2013 or any
other legislation.
6. Assisting in timely incorporation of any changes proposed in IND-AS by the
Reserve Bank of India/ Ministry of Corporate Affairs/ National Housing Bank /
Institute of Chartered Accountants of India / SEBI & Other Regulatory bodies
and develop approach to address those changes, if applicable.
7. The consultant shall be required to be available for discussion on matters
arising due to preparation of accounts as mentioned above, with the internal
auditors/ statutory auditors/ Government auditors in case of difference of
opinion or to clarify the position of the Company and effecting changes in
system/ process, in case of need/ requirements.
8. The consultant will assist/help the other departments in Ind AS related
computations and in developing reporting instructions and disclosure
checklists.
9. As ERP is under implementation in HUDCO the consultant shall help in
identify changes to IT System and processes where required. The consultant
will assist/provide inputs to HUDCO regarding changes required in the present
accounting system for implementation of IND-AS to facilitate HUDCO's IT
department.
10. Session with Senior Management, Classroom base general trainings to the
officials of HUDCO minimum four number of trainings (2 days of training each)
on IND-AS covering overview of IND-AS, changes in the Ind AS including
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latest developments and such aspects about Financial Statement preparation
work in accordance with IND-AS. The number of trainings may increase on the
basis of actual requirement.
11. The consultant will assist HUDCO with the presence of an assistant minimum
for a day in a week and for minimum three days in a week during the
preparation of quarterly/half yearly/ yearly financial statements as applicable.
The presence of senior partner is also required for discussions and
clarifications to management/auditors/ERP consultants etc. The number of
days for the presence of the assistant may be counted on cumulative basis as
the requirement may be more at the time of preparation of quarterly/half
yearly/ yearly financial statements, as applicable, wherein the presence for
more than three days may be required.
12. Any other services/assistance whatsoever required by HUDCO management
relating to Ind-AS for preparation/finalization of financial statements.
CHAPTER 4: TECHNICAL CRITERIA FOR SELECTION OF CA FIRM
4.1 Location of the organisation
1. The CA Firm should have its Head Office in Delhi or NCR.
4.2 Strength of the organisation
1. The CA Firm must have at least Five Partners as on the date of
submission of tender, and the average annual turnover of the firm
for the last three years should be 1 crores.
2. As on the date of tender, minimum paid CA staff strength of the firm
should be 10 employees (excluding partners and articled
assistants).
4.3 Post qualification experience of Partners
1. At least 3 Partners of the Firm should have an experience of
practising as CA for more than 10 years.
2. CA Firm should have an experience of at-least five years in
auditing/ consultancy out of the aforesaid five years' experience in
consultancy of Ind-AS should be for a period of 2 years in any 2
amongst Listed: PSU's/ NBFC's/HFC's.
4.4 General Terms & Conditions
1. Original documents of the successful Financial Bidder will be
verified, in order to authenticate the claim of the Firm before the
award of appointment letter.
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2. The bidder should declare whether any partner/employee of the
firm/company has any relation with any employee working in
HUDCO, and, if so give the name of the employee and the
relationship, and also whether any of them has a relationship within
the meaning of Section 2(77) of the new Companies Act 2013, with
any of the Directors of HUDCO, and also with the Statutory Auditors
(M/s Prem Gupta & Co., 4, Shivaji Marg, Najafgarh Road, New
Delhi,110015) and Internal Auditors (M/s Dinesh Jain & Associates,
Chartered Accountants, A-115, Vikas Marg, 2nd Floor, Shakarpur,
Delhi-110092) of HUDCO, if so give details to ensure compliance
under sec 184 &188 of New Companies Act, 2013.
3. The bidder should also declare if he is carrying out any other
assignment/providing consultancy at Corporate/ Regional Office of
HUDCO.
4. In addition to the above, the bidder should not have any of the
disqualifications mentioned below: -
a. There has not been any disciplinary action initiated by ICAI
or any regulatory authority against the firm during last five
years.
b. None of the partners / employees has been convicted of any
offence / economic offence.
c. No appeal/unresolved dispute/suit/case is pending at any
court in India regarding the right to carry on practice.
5. Upon completion/ termination of this engagement all the data,
information, material, records, documents copy other relevant
papers available with the Ind AS Consultant shall become the sole
and absolute property of HUDCO, and shall be returned by the Ind
AS Consultant to HUDCO within 15 days of the termination of the
contract.
6. The Ind AS Consultant firm will depute a Partner well versed with
the subject to attend HUDCO Head-quarters at least twice a week
and/or whenever required for the above consultancy assignments.
The said representative shall interact with the concerned officials of
GA Wing at Head Office during visits as per HUDCO's requirement
in Ind AS matters.
7. 20% of the fees shall be retained as deposit from quarterly fees and
shall be released after the completion of the complete assignment.
8. The payment will be released within 30 days of receipt of bill. The
payment will be subject to applicable TDS for which certificate as
per IT Act will be provided.
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9. Incomplete information provided by the bidder shall tantamount to
the rejection of bid by HUDCO.
CHAPTER 5: MAJOR TERMS AND CONDITIONS
5.1 Tenure of Contract: The contract will be for a duration of 1 year
from the date of appointment.
5.2 Remuneration Terms: The agreed remuneration shall be effective
for the entire period of consultancy. The fees will be payable on
quarterly basis.
5.3 Termination of Contract: Appointment of Ind AS Consultant may
be terminated by giving one-month notice.
5.4 Execution of assignment: For execution of complete scope of
work, the Ind AS Consultant will establish a team of qualified
professionals as per the requirement of HUDCO. The Ind AS
Consultant is solely and exclusively responsible for all the acts of
its team members. The deputed professionals shall visit HUDCO
on regular intervals for completion of all the assigned work, getting
clarifications/ documents and also for rendering of advisory
services as and when required by HUDCO.
5.5 Confidentiality: The Ind AS Consultant shall during the tenure of
the contract and at any time thereafter keep all information relating
to the work in full confidence and shall not, unless so authorized in
writing by HUDCO, divulge or grant access to any information
about the work or its results and shall prevent anyone becoming
acquainted with either through consultant or its personnel or
agents. Any monetary penalty/loss levied by any authority due to
breach of the above clause will be the sole responsibility of the firm.
5.6 Others: The Ind AS consultant is required to certify that it will not
indulge in any fraudulent activity or allow anybody else working in
our organization to indulge in fraudulent activities and would
immediately apprise HUDCO of the fraud/ suspected fraud as soon
as it comes to their notice.
CHAPTER 6: PROCEDURE FOR SUBMISSION AND OPENING OF BIDS
6.1 One hard copy of Part-I & Part-II each of Bids as stated in para 6.2
below, in two separate sealed envelopes duly marking as
"ORIGINAL" and also mentioning the name and address of the
firm/bidder on the envelopes needs to be submitted in one sealed
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and marked master envelope labelled "Bids for Ind AS
consultancy". If any of the envelopes is not sealed and marked
properly as above, the company will not assume any responsibility
for its misplacement, premature opening, late opening or rejection
etc.
The tender envelope is to be marked to:
The Executive Director Finance (GA),
HUDCO,
Core 7 A, India Habitat Centre,
Lodhi Road,
New Delhi 110 003
The tender should be put in the designated tender box kept at the
Fifth Floor at the above-mentioned address of the company.
6.2 Part-II of the offer shall be opened only if the company is satisfied
that the applicant satisfies and fulfils the Technical Evaluation. In
case the applicant does not satisfy the Technical feasibility, Part-II
shall not be opened and shall be rejected as it is. There will be no
obligation on part of the company to send any intimation to the
applicant firm in case of rejection of their application.
6.3 The selection shall be done based on eligible and/or lowest bid, as
the case may be, offered by the applicants subject to the decision
of the company.
CHAPTER 7: REJECTION OF BIDS
The Bids submitted shall be rejected:
i. If it is received after the expiry of due date of submission of Bids i.e. 20th
March, 2020.
ii. EMD not deposited in HUDCO's bank account or deposited in offline
mode.
iii. If it is not received in sealed condition as specified.
iv. If it is conditional.
v. If it is not in conformity with the instruction mentioned herein.
vi. If it is not properly signed by the authorized representative of consulting
firm
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vii. If it is incomplete including non-furnishing of the requisite documents.
viii. If it is not in compliance with any of the requirements/conditions as
specified elsewhere in this document.
ix. Any form of canvassing / lobbying / influence, etc. will be a disqualification.
CHAPTER 8: DECLARATION
The applicants not being allotted with the assignments shall not solicit any
reason for not being so selected. In case, the company finds any allegation /
loss of reputation for the act of the applicants, the company reserves the right to
file legal suit in the court law to claim for the damages.
CHAPTER 9: FORMAT OF BID
The bidders are required to submit the Technical Bid and Financial Bid
separately in the prescribed format attached herewith.
Part I: Technical Bid
The Technical bid should be submitted in a separate sealed cover, super
scribing "PART-I Professional Services for Ind AS Consultancy -
Technical Bid". The technical bid shall necessarily contain the following:
1. A brief description of the bidder's organization and an outline of the
work experience, specialization and other material information
about the organization along-with valid address proof of the CA
firm.
2. Past work experience in brief along with the current assignments
handled. Bidders are required to confirm the fulfilment of the
evaluation criteria as mentioned in chapter 4 and submit the
prescribed Technical Evaluation Form in the attached Performa.
3. Major clients served by the bidder organization in Listed PSU's/
NBFC's/HFC's (at least 2) the past along with the present
assignments enlisting the nature of work is required to be given.
The appointment letter of the same to be enclosed.
4. Brief detail of qualified professionals (Partners and paid CA staff)
employed by the bidder organization along with complete detail of
members proposed for HUDCO assignment including their name,
experience, profile, specialization etc.
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5. EMD or registration certificate of MSME for exemption of EMD as
mentioned at point 2.14 on page 6 are required to be furnished by
the bidder.
6. All the bid documents should be signed by the authorised signatory
of the firm.
PART II: Financial Bid
The financial proposal (fees to be quoted both in words and figures) of the
offer should be submitted in a separate sealed cover, super scribing
"PART-II Professional Services for Ind AS Consultancy - Financial
Bid". Part II of the offer should contain the following:
i. Lump sum quarterly professional fee (excluding applicable taxes)
for rendering services mentioned in Scope of Work.
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Annexure-I
On Letterhead of the Firm
FORMAT FOR TECHNICAL BID
The Technical bid has to be strictly given in the below-mentioned format:
1. Brief description of the bidder's organization and an outline of the work
experience, specialization and other material information about the
organization along-with valid address proof of the CA firm.
2. Past work experience in brief along with the current assignments handled.
Bidders are required to confirm the fulfilment of the evaluation criteria as
mentioned in chapter 4.
3. Major clients served by the bidder organization in Listed PSU's/
NBFC's/HFC's (at least 3) in the past along with the present assignments
enlisting the nature of work is required to be given. The appointment letters
shall be enclosed.
4. Brief detail of qualified professionals (Partners and paid CA staff) employed
by the bidder organization along with complete detail of members proposed
for HUDCO assignment including their name, experience, profile,
specialization etc. keeping in view the requirement mentioned in bid
evaluation criteria are required to be furnished by the bidder.
5. Location of the Head Office of the organisation.
6. No. of Partners in the Firm along with their date of joining in the firm as
partners.
7. No. of partners having 10 years plus professional experience of working as
CA as on last date of submission of bid.
8. No. of CA employees (excluding Partners and articles) as on as on last date
of submission of bid.
9. Experience in no. of years of handling Ind AS Consultancy in PSU's/
NBFC's/HFC's.
10. Profit and Loss & Balance Sheet of the firm as on 31/03/2019 & 31/03/2018.
11. EMD details.
i) UTR No. and date
ii) Bank Name
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iii) Amount
12. MSME registration certificate in case of exemption from EMD is availed.
13. Certificate that the firm will not indulge in any fraudulent activity or allow
anybody else working in our organization to indulge in fraudulent activities
and would immediately apprise HUDCO of the fraud/ suspected fraud as
soon as it comes to their notice.
14. Declaration if any partner/employee of the firm/company has any relation
with any employee working in HUDCO or has a relationship with any of the
Directors of HUDCO, Statutory Auditors (M/s Prem Gupta & Co.) and
Internal Auditors (M/s Dinesh Jain & Associates) and details thereof. (Refer
Para 4.4 clause 2).
15. List of assignments carrying out at Corporate/ Regional Office of HUDCO.
16. Undertaking in respect of point no. 5.5 of chapter 5.
17. Certificate in respect of point no. 5.6 of chapter 5.
18. Certificate that:-
a. There has not been any disciplinary action initiated by ICAI or any
regulatory authority against the firm during last five years.
b. None of the partners / employees has been convicted of any offence /
economic offence.
c. No appeal/unresolved dispute/suit/case is pending at any court in India
regarding the right to carry on practice.
Signed by the Authorized Signatory
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Annexure-II
On Letterhead of the Firm
FORMAT FOR FINANCIAL BID
The Financial bid (fees to be quoted both in words and figures) has to be
strictly given in the below-mentioned format:
Lump sum quarterly professional fee (excluding applicable taxes) for
rendering services mentioned in Scope of Work.
Signed by the Authorized Signatory
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