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National Institute Of Fashion Technology,New Delhi
July, 01st 2019
          NATIONAL INSTITUTE OF FASHION TECHNOLOGY
(A statutory body governed by the NIFT Act 2006 and set up by the Ministry of Textiles, Govt. of India)

                            NIFT/HO/DD (F&A)-II/Appointment of IA 2019-20


                             TENDER DOCUMENT
                                   FOR
                          THE APPOINTMENT OF
                             INTERNAL AUDITOR
                                      OF NIFT FOR
   THE FINANCIAL YEAR 2019-20 ONWARDS
                     (From 2019-20 ­ 2021-22)
                                    NIFT, HEAD OFFICE,
                                  HAUZ KHAS, NEW DELHI
       OPENING DATE FOR ONLINE SUBMISSION OF TENDER: 25.06.2019


       CLOSING DATE FOR ONLINE SUBMISSION OF TENDER: 16.07.2019
  Page 1 of 24
                                  INDEX

                              Table of Contents

S.No                          Particulars         Page No.

 1.     About NIFT                                    3
 2.     Notice Inviting Tender                       3-5
 3.     How to Apply                                 5-6
 4.     Eligibility Criteria                          6
 5.     Documents Required                            7
 6.     Selection Criteria                           8-9
 7.     Scope of Work                               9-11
 8.     Periodicity and Timelines of Audit           12
 9.     Duties of Auditor                          12-14
 10.    Terms & Conditions                         14-17
 11     Annexure I ­ Information Sheet             18-19
 12.    Annexure II ­ Format of Technical Bid      20-22
 13.    Annexure III ­ Format of Financial Bid       23




Page 2 of 24
SUBJECT: APPOINTMENT OF INTERNAL AUDITOR IN NATIONAL INSTITUTE
OF FASHION TECHNOLOGY, HAUZ KHAS, NEW DELHI FOR THE FINANCIAL
YEAR 2019-20 (FURTHER EXTENDABLE FOR TWO (2) FINANCIAL YEARS i.e.
2020-21 & 2021-22).

1. ABOUT NIFT:

National Institute of Fashion Technology (NIFT) was set up by the Ministry of Textiles,
Government of India in 1986 which has been accorded statutory status under the Act of
Parliament in 2006 (NIFT Act 2006) for the promotion and development of education and
research in field of Fashion Technology.

NIFT provides fashion business education across the country through its network of 16 centers.
It provides four years under graduate (UG) program in design and technology, two years post
graduate (PG) program in design, fashion management & fashion technology and short duration
education program to address the specialized needs of professional and students in the field of
fashion.

NIFT has its head office at New Delhi with its campuses located at Bengaluru, Bhopal,
Bhubaneswar, Chennai, Gandhinagar, Hyderabad, Jodhpur, Kangra, Kannur, Kolkata, Mumbai,
New Delhi, Patna, Raebareli, Shillong and Srinagar.

2. NOTICE INVITING TENDER:

(a) Tenders are invited from Chartered Accountants Firms (herein after referred to as Lead CA
    Firms) for appointment as NIFT Internal Auditor for the Financial Year 2019-20 onwards.
    The appointment of the selected Chartered Accountants Firm as internal auditor may further
    be extended for two more financial years at sole discretion of NIFT if the performance of the
    auditor is found to be satisfactory in the year under consideration i.e. 2019-20.

(b) The interested Lead CA firms should apply online and submit their tender and the bids along
    with scanned copies of all the relevant certificates, documents, etc. in support of their
    technical & price bids ­ all duly signed ­ on the https://nifttenders.eproc.in from 25.06.
    2019 by 10.00 A.M to 16.07.2019 upto 03.00 P.M. Tender documents is also available for
    viewing on the "tenders" link of the NIFT website i.e https://nifttenders.eproc.in /
    http://www.nift.ac.in.

(c) Applications to this tender will be accepted only through the online mode through
    https://nifttenders.eproc.in. No other mode of application will be considered & application
    will not be accepted.

(d) For applying online, the Lead CA Firm should get itself                       registered   at
    https://nifttenders.eproc.in by paying
     Annual Registration Charges of Rs. 2000 + GST (non-refundable)
     Bid Processing Fee charges of Rs. 2240 + GST (non-refundable)




Page 3 of 24
 (e) The bidders need to compulsorily pay the above two fees online for approval of Registration
     and successful submission of Tender, failing which, the firm will not be able to participate in
     the e-tender.

 (f) The basic requirements for registration and applying for tender online are as under:
      Operating System should be atleast windows 7.
      Java version: Java 8 update 25.
      Use Internet Explorer atleast 8 and above
      All java add-ons must be enable in the system.
      Always use Class III B Digital Signature Certificates (DSC) having Signing and
         Encryption both.

 (g) The Lead CA Firm should ensure that it complies with the above requirements before
     applying for the tender. Also, the interested Lead CA Firms should submit a hard copy of the
     application submitted online with all relevant supporting documents by 16th ,July 2019 upto
     03.00 P.M. Non-submission of hardcopy as directed will lead to rejection of the tender
     application.

 (h) The sealed hard copy of the tender shall be submitted in one big envelope superscripting
     "Appointment of NIFT Internal Auditor of NIFT for the Financial Year 2019-20
     Onwards" containing two separately sealed small envelopes, one for "Technical Bid as per
     Annexure II" and another for "Financial Bid as per Annexure III" superscripting as such
     and addressed to Director (Finance & Accounts), NATIONAL INSTITUTE OF FASHION
     TECHNOLOGY, 2nd Floor, Administrative Block, NIFT Campus, Hauz Khas, Near
     Gulmohar Park, New Delhi ­ 110016. The sealed tender must be dropped in the tender box at
     2nd Floor, Administrative Block, NIFT, New Delhi ­ 16, Head Office only, on or before
     16.07.2019 by 3.00 P.M.

(i)     The technical bid envelope must contain the technical bid in prescribed Performa as per
        Annexure - II along with a demand draft of Rs. 1000/- (Rupees One Thousand only)
        towards cost of tender (non-refundable) and Earnest Money Deposit (refundable but non-
        interest bearing) of Rs. 1,00,000/- (Rupees One Lakhs Only) favoring NATIONAL
        INSTITUTE OF FASHION TECHNOLOGY and payable at New Delhi with all relevant
        documents in support of eligibility and experience criteria. The financial bid envelope must
        contain only the financial bid as per Annexure ­ III. The financial bid shall include
        professional fee / charges for all services including expenses for boarding / lodging of staff to
        be incurred in carrying out the internal audit services. NIFT will not accept any claim other
        than professional fee / charges etc. mentioned in financial bid. The firm is also required to
        duly fill the Information Sheet at Annexure I and submit it with the Technical Bid.

(j)     The technical bid will be opened at NIFT, Head Office, 2nd Floor, Accounts Department on
        16th July, 2019 at 03.15 P.M. in the presence of the bidders/ their authorized representatives
        who wish to be present. The Financial bid will be opened on the date which will be
        communicated to only those bidders who are found to be technically qualified after evaluation
        of technical bids as per selection criteria provided in Para - 6.



      Page 4 of 24
(k) The interested Lead CA firms are advised to read carefully the entire tender document
    before submitting their tender and the tender documents not received online in
    prescribed format and/or are found incomplete in any respect will be summarily
    rejected.

(l) Any further clarifications can be sought from the office of Deputy Director (Finance &
    Accounts) on Telephone No. 011-26542010/ 011-26542059, NATIONAL INSTITUTE OF
    FASHION TECHNOLOGY, NIFT Campus, Hauz Khas, Near Gulmohar Park, New Delhi -
    110016.

(m) A pre bid meeting will also be held on 8th July, 2019 at 3.00 P.M. to discuss the queries
    of the bidders if any in Room No 5, NIFT Head Office.

3. HOW TO APPLY:

For the purpose of internal audit, a Lead CA Firm can apply independently or can also form a
consortium with other CA Firms (herein after referred to as Associate CA Firms) provided that:
 (I) The Lead CA Firm satisfies all the eligibility criteria specified at point no. a, b, c, d, e, f,
       g and h of Para ­ 4 ; and
 (II) The Associate CA Firm satisfies the eligibility criteria specified at point no. b, c, d, f, g
       and h of Para ­ 4.

However,
a) The maximum number of Associate CA Firms can be up to three (3) and the Lead CA Firm
   has to provide a list of such Associate CA Firms mentioning name, address, contact no. and
   the nodal partners in each Associate CA Firm.
b) The office of the lead CA Firm and each of the Associate CA Firm should be located in
   different cities.
c) The Lead CA Firm has to provide a certificate that each of the Associate CA Firm is
   independently eligible for bidding, if applicable and an undertaking / consent from the
   Associate CA Firms to undertake the work in collaboration with the Lead CA Firm should be
   submitted.
d) The Lead CA Firm cannot add any other CA firm as their Associate CA Firm after the
   submission of tender.
e) Further, the Lead CA firm can also engage any "other CA firm" at the time of submitting the
   tender or at any time during the year of their appointment provided that the other CA firm
   satisfies all the eligibility criteria as applicable to Associate CA Firms mentioned above.
   However, such other CA firm can be engaged only with express consent of the NIFT. If the
   Lead CA Firm is engaging such other CA Firm at the time of submitting the tender
   document, then such other CA firm will not be counted for the sake of marking as mentioned
   in Para ­ 6. The Lead CA Firm will be required to give an undertaking in this regard that the
   other CA Firms satisfies all the Eligibility Criteria and submit necessary documents.

Further, if at any stage it is found that the certificate submitted by Lead CA Firm regarding the
eligibility of the Associate CA Firms / Other CA Firms is not correct/ false, then NIFT may
cancel the contract with retrospective effect and the security deposit amount shall be forfeited.



Page 5 of 24
Before doing so, the Lead CA firm would be given an opportunity to explain their case. However
the decision of NIFT would be final.

4.   ELIGIBILITY CRITERIA:-

The interested Lead CA firms are advised to read and understand the eligibility criteria
mentioned herewith before submitting their tender. They are also required to submit the relevant
documents as mentioned in para 5 for each of the eligibility criteria:-

a) EMPANELLMENT WITH C&AG: The Lead CA Firm should be empanelled with the
   Comptroller & Auditor General of India (C&AG) for the financial year 2019-20.

b) EXPERIENCE: The Lead CA firm/Associate CA Firm should have atleast an experience
   of ten (10) years from the date of registration of the firm.

c)   NO. OF PARTNERS: The Lead CA firm/Associate CA Firm should have at least five (5)
     partners on the date of tender submission.

d) NO. OF QUALIFIED CA's: The Lead CA firm/Associate CA Firm should have at least
   five (5) Chartered Accountants as employee (other than partners) as on the date of tender
   submission out of which at least three should be FCA.






e)   LOCATION OF LEAD CA FIRM's OFFICE: The Lead CA firm should have the
     registered / main office in Delhi. In case the lead CA firm does not have registered / main
     office in Delhi then it should have a branch office in Delhi. Further, the Lead CA firm shall
     provide a list of their branch offices located across India.

f)   NO. OF STATUTORY AUDIT / INTERNAL AUDIT: The Lead CA firm/Associate CA
     Firm should have conducted either statutory audits and /or internal audits of at least three
     Autonomous Bodies / Statutory Bodies / Educational Institution/ PSU with minimum annual
     turnover of Rs. 50 Crore each with multi locations/offices/branches/units on or after
     financial year 2013-14.

     The annual turn-over for each Autonomous Bodies / Statutory Bodies / PSUs / Educational
     Institutes shall be as per their Audited Financial Statements for any financial year during
     2013-14 till 2017-18. In case the Lead CA firm has carried out the statutory audit / internal
     audit for a branch (s), then the turnover of only that branch (s) will be considered.

g) ANNUAL TURNOVER OF THE FIRM: The annual average turnover of the interested
   Lead CA firm/Associate CA Firm shall not be less than Rs. 3 Crores for last three financial
   years i.e. 2017-18, 2016-17, 2015-16.

h) INCOME AS PER INCOME TAX RETURN OF THE FIRM: The Lead CA
   Firm/Associate CA Firm average returned income should not be less than Rs. 50 lakh for
   last three financial years i.e. 2017-18, 2016-17, 2015-16.




Page 6 of 24
5.   DOCUMENTS REQUIRED:

The Lead CA Firm shall compulsorily submit the following documents as proof to their
eligibility being fulfilled which should be duly certified by at-least 2 partners of the firm.

     (a) For Eligibility Criteria No. 4 (a), certified copy of empanelment letter issued by C&AG is
         to be submitted.

     (b) For Eligibility Criteria No. 4 (b), certified copy of registration certificate of the firm is
         required be submitted.

     (c) For Eligibility Criteria No. 4 (c), certified copy of relevant documents from ICAI is
         required to be submitted.

     (d) For Eligibility Criteria No. 4 (d), certified copy of relevant documents from ICAI is
         required to be submitted.

     (e) For Eligibility Criteria No. 4 (f), certified copy of appointment letters from the client
         organizations and copy of their Audited Balance Sheets and P&L Account of client is
         required to be submitted. Proof of their having multiple locations also needs to be
         submitted.

     (f) For Eligibility Criteria No. 4 (g), certified copy of Audited Balance Sheet and Income &
         Expenditure Account of the firm for the mentioned years may be submitted.

     (g) For Eligibility Criteria No. 4 (h), certified copy of Income Tax Return Acknowledgement
         of the Firm for the mentioned years may be submitted.

     (h) A copy of Goods & Service Tax Registration No is to be submitted.

     (i) A copy of PAN No. allotted by Income Tax Department is to be submitted.

     (j) A declaration needs to be submitted by the Lead CA Firm / Associate CA Firm that they
         have not been blacklisted by any Government Entity/PSU etc.

If the Lead CA Firm is applying for the tender through a Consortium of Associate CA firms, then
the supporting documents asked in point no b, c, d, f, g & h as applicable to Associate CA Firms
should also be submitted for each Associate CA Firms. A declaration in this regard is also
required to be submitted by the Lead CA Firm that each of its Associate CA Firms satisfies the
eligibility criteria mentioned in point no b, c, d, f, g & h above.

These documents should be submitted at the time of submitting the tender only. Undertaking for
subsequent submission of any of the above documents will not be entertained under any
circumstances. However, NIFT reserves the right to seek fresh set of documents or seek
clarifications on the already submitted documents. It is the responsibility of the firm to verify the
authenticity of any third party document being submitted as part of the eligibility requirements.



Page 7 of 24
6.    SELECTION CRITERIA:-

The eligible technical bids received from the Lead CA Firms will be evaluated in terms of
following parameters and points will be given as defined below. Further the points will be
awarded to the bidder on the following basis:-

 Sl. No Particulars                                                         Maximum        Marks
                                                                            Marks
 1.       Experience:                                                          10
          At least 10 years                                                                    6
          > 10 to 12 years                                                                     8
          More than 12 years                                                                  10
 2.       No. of Partners:                                                      10
          At least 5 partners                                                                   6
          > 5 to 8 partners                                                                     8
          More than 8 partners                                                                 10
 3.       No of Qualified CA's:                                                 10
          At least 5 qualified CA's                                                             6
          > 5 to 8 qualified CA's                                                               8
          More than 8 qualified CA's                                                           10
 4.       Number of Statutory Audit / Internal Audit of                         10
          Autonomous Bodies / Statutory Bodies / Educational
          Institution/ PSU with minimum annual turnover of Rs. 50
          Crore each with multi locations/offices/branches/units on
          or after financial year 2010-2011.          :
          At least three Autonomous Bodies / Statutory Bodies /                                5
          Educational Institution/ PSU
          > 3 to 5 Autonomous Bodies / Statutory Bodies /                                      7
          Educational Institution/ PSU
          > 5 to 9 Autonomous Bodies / Statutory Bodies /                                      9
          Educational Institution/ PSU
          More than 9 Autonomous Bodies / Statutory Bodies /                                   10
          Educational Institution/ PSU
 5.       Annual Turnover of the Firm (Average of last 3 years)                 10
          At least 3 Crores                                                                     6
          > 3 to 5 Crores                                                                       8
          More than 5 Crores                                                                   10
 6.       Income as per Income Tax Return of the Firm (Average of               10
          last 3 years)
          At least 50 Lakhs                                                                     6
          > 50 to 70 Lakhs                                                                      8
          More than 70 Lakhs                                                                   10

The top ten eligible technical bids of Lead CA Firm (who have scored highest marks as per
parameters indicated above) will qualify the technical evaluation. In case of tie (if more than one

Page 8 of 24
Lead CA Firm gets equal marks), the tied Lead CA Firms will get the same ranking and it may
results that more than 10 Lead CA Firms qualify the technical evaluation.

These qualified bids will then be considered for opening of the financial bid and the Lead CA
Firm having lowest financial bid (L1) will be the successful bidder. Further, in case of tie in
financial bid as well, the Lead CA Firms having higher ranking will be the successful bidder.

7. SCOPE OF WORK:-

The NIFT Internal Auditor's scope of work shall include the following (this is an
illustrative but not exhaustive list):-

A. CASH & BANK BOOK:

     Checking and verification of the cash book and to ensure that the cash in hand is
     reconciled with cash book records.

     Checking and verification of all bank books and to ensure that the bank books are
     reconciled on monthly basis and necessary actions are taken for unmatched transactions.

     Checking and verification of payment transactions on test check basis to ensure that they
     are made as per the generally accepted accounting principles and the NIFT rules.

     Ensure reconciliation of earnest money deposits (EMD) register and security deposit (SD)
     register with the Accounting records.


B. GRANT & FEE INCOME:

     Checking and verification of fees / incomes / receipts and the review of the reconciliation
     for fees / income /receipts to ensure that no revenue leakage exists.

     Checking and verification of Government Grants (Central / State) received and utilized
     and their quarterly reconciliation and certification (UC).

C. FIXED ASSETS & LIABILITIES:

       Scrutiny of all assets and liabilities accounts to ensure their correctness.

       Audit of fixed assets registers, accounting records and their reconciliation with
       accounting records.

       The audit of liability registers and their reconciliation with accounting records.

       Carrying out the physical verification of fixed assets and inventories at least once in a
       financial year and their comparison with the accounting records and reporting of the
       variations, if any.

Page 9 of 24
D. STATUTORY AND INTERNAL COMPLIANCE:

     To audit the compliance with applicable statutory requirements like income tax, GST,
     EPF and ESI etc.

     To advice and give written opinion on issues pertaining to Income Tax, GST, excise duty
     and custom laws etc. applicable to NIFT Campus and/or HO time to time. To help in
     preparation and submission of necessary compliance with applicable laws.

     Preparation of all income tax returns and submission of same to income tax authorities.

     Advise and assist in the matters related to Income Tax, GST, and other statutory laws
     applicable to NIFT.

     Assist in preparation and filing of all kinds of Statutory Returns of NIFT.

     Provide recent updates on all statutory laws applicable to NIFT.

     Helping in preparation & filing of e-TDS quarterly returns within due date.

     Helping in preparation and filing of GST returns within due date.

     To audit compliance of recent changes in last two years in commercial laws applicable to
     NIFT such as Income Tax, GST, EPF and ESI etc- a certificate for the same has to be
     attached with the internal audit report for each quarter.

     To check whether monthly progress reports and quarterly progress reports are submitted
     to Head Office within due date.

E. SALARY AND ADVANCES:

     To audit that the salary to staff is being paid as per their terms and conditions and to audit
     the correctness of pay fixation.

     To audit that outstanding staff loans and advances are recovered as per the stipulated
     terms / NIFT rules.

F. INTER ­ CAMPUS RECONCILIATION:

     To audit the inter-campus transactions by way of debit notes and /or credit notes and their
     quarterly reconciliation i.e. the inter- campus- reconciliation.

G. PROCUREMENT OF GOODS & SERVICES:




Page 10 of 24
      Checking and verification of procurements of goods and services to ensure that
      prescribed procedure mentioned in NIFT purchase policies / GFR / GoI guidelines /
      Policy circulars of NIFT etc have been followed.

      Checking of all works / petty repair works related bills awarded by NIFT.

      Ensure that payment for AMC and service contracts were made as per the Agreement
      terms and conditions.

H. ADHERENCE TO NIFT RULES & REGULATIONS:

      Checking and verification of records of establishment department and activities to ensure
      compliance with NIFT rules and regulations.

      Checking and verification of records of administrative department and activities to ensure
      compliance with NIFT rules and regulations.

      Checking and verification of records of academic department and activities to ensure
      compliance with NIFT rules and regulations.

      Checking and verification of records of building department activities to ensure
      compliance with NIFT rules and regulations.

      Ensure that the NIFT policies, rules, regulation and procedures are adhered to is all
      accounting matters and transactions.

      Checking and verification of records of project cell, projects undertaken, timelines
      prescribed as per NIFT's rules & regulations and the deviations, if any may be reported.

I.   INTERNAL CONTROL SYSTEM:

      Audit of the financial management of infrastructural/construction projects or works of
      NIFT.

      Audit of the strategic projects undertaken by NIFT.

      Review of accounting and internal control systems and suggestions for improvements
      where a weak lacuna in accounting and internal control systems is observed.

      To ensure that the major expenditure and incomes items are booked/recorded following
      accrual system of accounting by all campuses & Head Office and report deviations, if
      any.

      Detection of systemic flaws and suggestions for adopting the corrective measures.

      Advice NIFT on risk assessment and risk mitigation mechanism.

Page 11 of 24
      Conducting Process Audit of areas as intimated and directed by the management from
      time to time.

      Reporting of outstanding C&AG audit paras at the end of each reporting period of
      internal audit with remarks of NIFT Campus for non-compliance / non-settlement.

8.   PERIODICITY AND TIMELINES OF AUDIT:

(a) NIFT's Internal Auditor will be required to conduct the internal audit in four quarters: 1st
    April to 30th June, 1st July to 30th September, 1st October to 31st December and 1st
    January to 31st March. The auditors will also be required to prepare and consolidate the
    annual accounts of NIFT for the year 2019-20 and also for subsequent years, if re-appointed.

(b) Timelines for conducting the Audit: The Auditor shall strictly follow the timelines
    mentioned below in the table:
    S.No Description of Audit          Timeline
    1.    Commencement of Internal The audit should start from the 10th day of the
          Audit of every Quarter       month following the end of the quarter of which
                                       audit is to be done at every NIFT Campus and Head
                                       Office
    2.    Submission of Final Internal The final Internal Audit Report of each campus and
          Audit Report                 the Consolidated Report after discussion with the
                                       NIFT's Management should be submitted within 30
                                       days from the date of start of Internal Audit.
    3.    For      Preparation    and For Campuses Annual Accounts: 07th May
          Consolidation of Annual For Head Office Annual Accounts: 15th May
          Accounts                     For Consolidated Annual Accounts: 31st May

9.   DUTIES OF AUDITOR:

 (a) The Auditor will be required to carry out internal audit of each campus of
     NIFT and Head Office on quarterly basis and submit the final internal audit report to
     Campus Director with a copy to Director (F&A) in case of campuses internal audit and
     Director (F&A), NIFT HO in case of head office internal audit.

 (b) The auditor will be required to carry out assessment of any particular internal system of
     NIFT in detail and submit report on the same as demanded by the DG NIFT.

 (c) The Auditor will be required to submit a audit schedule / plan within 7 days before the end
     of quarter stating the major areas which would be covered during the audit at all NIFT
     Campuses and Head Office.

 (d) The Auditor will be required to depute his audit team in the following manner:

       S.No            Description               Minimum No of          Minimum No of days
                                                 Employees to be         for which the team
                                                                         should be present:

Page 12 of 24
                                                         present

       1.       Team deputed to carry out the Should consist of at          The team will be
                internal audit for each least one CA with 5                 required to be present at
                campus / Head Office          years' experience, one        the campus / HO for
                                                                            carrying out audit for a
                                              CA
                                                                            minimum of two week
                                              intermediate/IPCC             for each quarter.
                                              and one assistant.


       2.       The team deputed to carry out     Should consist of at      The team will be
                the internal audit for the last   least one CA with 5       required to be present at
                quarter and Consolidation and     years' experience, two    the campus for a
                                                                            minimum of two weeks
                Finalization of financial         CA intermediate /
                                                                            for carrying out audit,
                statements at the year end for    IPCC.                     Consolidation        and
                each campus.                                                Finalization of financial
                                                                            statements.


       3.       The team deputed to carry out     Should consist of at      The team will be
                the internal audit for the last   least one CA with         required to be present at
                quarter & Consolidation and       minimum 10 years'         the HO for a minimum
                                                                            of four weeks for
                Finalization of financial         experience, one CA
                                                                            carrying    out    audit,
                statements at the yearend for     with     5       years'   Consolidation        and
                Head Office.                      experience, 3 CA          Finalization of financial
                                                  intermediate / IPCC.      statements.




   (e) The auditor will be required to discuss the internal audit reports of all campuses and Head
       office at NIFT Head Office before its finalization for each quarter. It may take 4-5
       working days. For this he will be required to meet the Director of the Campus/HO and
       discuss his response and incorporate their comments before issuing final internal audit
       report. For internal audit report of the Head Office, the inputs of Director (F&A) will be
       obtained before issue of final internal audit report.

   (f) For Consolidation of Accounts, the auditor shall be responsible for standardization of
       accounting heads, arranging heads, arranging of standardized codes and standardization
       of formats for final account across campuses.

   (g) The auditor shall be responsible for consolidation & finalization of the financial
       statements at the year-end of all NIFT Campuses and Head Office within the time
       stipulated in table at point c above from the end of the Financial Year. The same shall be
       signed and sealed by the Lead CA Firm. Further, the auditor shall also be responsible for

Page 13 of 24
       the consolidation of annual accounts of NIFT Campuses and Head Office by the end of
       31st May.

   (h) The internal audit report for each quarter is to be prepared in three parts as given below
       for each campus / HO:-

                Part - I     :       Management Summary and Suggestions

                Part - II    :       Detailed Internal Audit Report (for Current Quarter)

                Part ­ III   :       Follow up and Action Taken Report (for Previous Reports)

          Further, a Consolidated Management Summary for each quarter of all campuses and
          HO are also required to be submitted to the Head Office.

   (i) It will be the duty of the internal auditor to obtain / follow up the corrections /
       rectifications / action taken for each objection and incorporate the same in consolidation
       management summary to be presented in the Finance and Accounts Committee (F&AC)
       & BOG.

   (j) The senior partner of Lead CA Firm will have to present the consolidated management
       summary of internal audit report in PPT Form for each quarter in the Finance and
       Accounts Committee (F&AC) meetings and Board of Governors (BOG) meeting.
       Further, he has to present the consolidated NIFT annual accounts for the year in the
       meetings of F&AC and BOG. No separate boarding & lodging will be paid for
       attending such meetings during the year.

   (k) For all matters, the NIFT internal auditors will co-ordinate with Director (F&A), NIFT
       Head Office, Hauz Khas, New Delhi.

   10. TERMS AND CONDITIONS:-

   1. Initially the appointment of NIFT internal auditor will be for the financial year i.e. 2019-
      20. However, the NIFT may extend the appointment for next two financial years i.e.
      2020-21 and 2021-22 with a 5% escalation per annum. The extension will be made for
      each financial year separately at the sole discretion of NIFT. The appointment of NIFT
      internal auditor cannot be for more than three years in total. However, the grand total fees
      to be quoted by the Lead CA Firm in the Financial Bid at Annexure III shall not be less
      than Rs. 16 Lakhs (Rupees Sixteen Lakhs Only) for all the 16 Campuses of NIFT and
      Head Office.

   2. Each page of tender documents is required to be signed by the Nodal Partner of Lead CA
      Firm. The documents / certificates in support along with the tender shall also be signed
      by the Nodal Partner.

   3. All documents should be numbered and an index of pages should also be submitted.



Page 14 of 24
   4. Tender shall be submitted in prescribed / official tender document only. If submitted in
      any other form, the same shall be summarily rejected.

   5. The tender documents shall be written legibly and free from erasing, corrections and
      over-writing, otherwise the bid will be rejected.

   6. Upon verification, evaluation / assessment, if in case any information furnished by the
      firm is found to be false / incorrect, their bid shall be summarily rejected and no
      correspondence on the same shall be entertained.

   7. Tenders without EMD will be summarily rejected. The earnest money deposit (EMD) of
      successful bidder will be converted into Security Deposit (SD) amount for the period of
      contract and will be refunded on request of the bidder after completion of period as well
      as the obligation of internal audit of NIFT. No interest will be paid on EMD and Security
      Deposit.

   8. Whenever deemed necessary, NIFT may seek clarifications on any aspect from the
      participant firm. However, that would not entitle the participant to change or cause any
      change in the substance of the offer submitted or price offered


   9. The technical bid will be evaluated as per the eligibility criteria and other terms and
      conditions mentioned in this tender document.


   10. NIFT reserves the right to issue a corrigendum to this tender document as and when
       required which would be a supplement to the main tender document. Any Corrigendum
       to this tender will be notified through the websites https://nifttenders.eproc.in /
       http://www.nift.ac.in.

   11. If any date mentioned above happens to be a holiday, then the next working day will be
       the relevant date.

   12. NIFT reserves the right to cancel this tender process at any time without assigning any
       reason before the selection of Lead CA Firm and the tendered shall not be entitled to
       claim any damage or compensation due to such cancellation.

   13. This tender is subject to the jurisdiction of the local courts at Delhi only. All disputes
       arising out of the tender process shall have the jurisdiction of the local courts at Delhi
       only.

   14. Tenders received in the single-bid system i.e. having the technical bid as well as financial
       bid in the same small envelope shall be rejected.

   15. NIFT will not accept any claim other than professional fee / charges etc. specified in
       financial bid.



Page 15 of 24
   16. The Lead CA Firm should not have any disputes with any of the client. If any disputes
       come to knowledge of NIFT at any point of time, then the services of Lead CA Firm
       would be terminated.

   17. Any tender received not in conformity the aforesaid terms and conditions may not be
       considered and same will be rejected.

   18. TDS if applicable will be deduced at prescribed rates as per Income Tax Act, 1961.

   19. In case a bidder withdraws unilaterally after submission of Bid EMD will be forfeited.

   20. The payment shall be made as follows:

       (a) For Internal Audit: The 50% payment of professional fees for internal audit will be
           released on quarterly basis on submission of bills subject to timely submission of
           quarterly internal audit reports of each campus / HO along with consolidated
           executive summary & action taken report and balance 50% after its approval by the
           Finance & Audit Committee (F&AC) of NIFT

       (b) For Consolidation and Finalization of Annual Accounts: The 50% payment of
           professional fees for Consolidation and Finalization of Annual Accounts of NIFT will
           be made on submission of bills subject to submission of sealed and signed
           consolidated Annual Accounts and balance 50% after approval of Annual Accounts
           by F&AC and BOG.






   21. The contract will be only between NIFT and Lead CA Firm which will be built around
       the terms and conditions of this tender document. The contract should be accepted and
       signed by the Lead CA Firm within a week failing which their EMD will be forfeited.

   22. The terms and conditions of the contract shall constitute the entire agreement between the
       Lead CA Firm and NIFT. Any change will be binding only if the amendment are made
       in writing and signed by a competent authority of NIFT and the Lead CA Firm.

   23. Any dispute arising shall be referred to the sole arbitration. The selection of arbitration
       will be made by DG, NIFT. The arbitrator's decision shall be final and binding on both
       the parties.

   24. The Lead CA Firm will ensure that no information or data about the policies of NIFT is
       taken out in any form including electronic form or otherwise. The firm shall also
       undertake that any information data signed by the staff of the Firm is not provided to any
       third party or misused. In case there is such an instance, NIFT reserves the right to take
       action against the Firm as deemed fit.

   25. The Firm shall be responsible for any damage to equipments, property and third party
       liabilities caused by acts on part of its auditors / representatives.



Page 16 of 24
   26. The Lead CA Firm shall ensure that the audit work is started and completed as per
       the time schedule mentioned in the tender document. In case of delay in the
       satisfactory performance and completion of audit work, penalty @ 0.2% (point two
       percent) per day of the quarterly amount payable shall be applicable for a
       maximum of 30 days. Beyond 30 days, NIFT reserves the right to cancel the
       contract, forfeit the EMD/ Security Deposit and get the work completed from
       alternate sources at the risk and cost of the defaulting firm.

   27. The NIFT reserves the right to cancel the contract in the following cases:

       (i)      The Lead CA Firm fails to comply with the terms and conditions of the contract.
       (ii)     The Lead CA Firm fails to deliver the services on time.
       (iii)    The Lead CA Firm becomes bankrupt or goes into liquidation.

       Upon receipt of the said cancellation notice, the Lead CA Firm shall discontinue contract
       and matters connected with it.

   28. In the event of Force Majeure occurring within the contracted period, the delay in
       performing internal audit can be extended by NIFT on receipt of written request of Lead
       CA Firms.

   29. The NIFT has categorized the locations in India for the purpose of internal audit in four
       zones as detailed below. The Lead CA Firm and each of the Associate CA Firm should
       be from different zones.

       North Zone
       1.     Jammu & Kashmir, 2. Himachal Pradesh, 3. Punjab, 4. Haryana, 5. Uttarakhand,
       6. Delhi, 7. Uttar Pradesh, 8. Chandigarh, 9. Madhya Pradesh

       East Zone
       1.     Arunachal Pradesh, 2. Meghalaya, 3. Nagaland, 4. Manipur, 5. Tripura, 6.
       Mizoram, 7. Sikkim, 8. Assam, 9. Bihar, 10. West Bengal, 11. Jharkhand, 12. Orissa, 13.
       Chhattisgarh

       West Zone
       1.     Rajasthan, 2. Gujarat, 3. Daman & Diu, 4. Dadra & Nagar Haveli, 5. Maharashtra,
       6. Goa

       South Zone
       1.    Andhra Pradesh, 2. Karnataka, 3. Kerala, 4. Tamil Nadu, 5. Puducherry, 6.
       Andaman & Nicobar Island, 7. Lakshadweep

   30. The Tender document shall be arranged in the following order:
       i) Demand draft for EMD and cost of tender.
       ii) Index containing Page Numbers.
       iii) Technical Bid and the related documents.

Page 17 of 24
       iv) Signed tender documents.
       v) Financial Bid in a separate envelope.




Page 18 of 24
                                                                                           Annexure ­ I

                                      INFORMATION SHEET

Particulars of Lead CA Firm for appointment as Internal Auditor of NIFT

   (a) Name of the Firm:

   (b) Incorporated as .........................in year.............at.......

   (c) Whether any legal/arbitration proceedings are instituted against the Firm or the firm has
       lodged any claim in connection with works carried out by them. If yes, please give
       details.

   (d) Registered Office Address
       Name of the Nodal Partner
       Designation
       Telephone Numbers
       Fax Numbers
       E-mail
       Mobile No.

   (e) Registration details with Statutory Bodies: (enclose attested photocopy of documents)

       Goods & Service Tax Registration No.:
       Income Tax No. (PAN):
       C&AG Registration No.:

   (f) Details of Partners of the Firm:
        S.No                   Name                       Qualification                Associated with
                                                                                       Firm Since



   (g) Details of Full Time Chartered Accountants in the Firm:
        S.No                 Name                  Qualification                       Associated with
                                                                                       Firm Since



   (h) Total Staff Strength of the Firm:


   (i) EMD Details:
       Particulars  Amount                 Draft No.        Date                Bank          Branch
                    (Rs.)

Page 19 of 24
   (j)    List of Clients where the firm has carried out Statutory and Internal audit and also
         mention the year of audit:




   (k) Name of Clients (PSU's / Autonomous Bodies) of which Statutory audit was assigned
      through C&AG's office and conducted in any of the last 5 years.




   (l)    Any other information Firm would like to furnish:




Signature with Stamp


Date


Place




Page 20 of 24
                                                                             Annexure ­ II
                                      TECHNICAL BID

  Sr.   Particulars                                     Details to be provided as on the
                                                        closing date of this NIT
                                      General Information
  1.    Name of the Lead CA Firm
  2.    Date of registration of Lead CA firm
  3.    Registered / Main Office Address
  4.    Name of Nodal Partner
  5.    Contact No. of Nodal Partner
  6.    No. of Branches in India
        (Attach a list along with address)
  7.    No. of Associate CA Firms
        (Attach a list with details)
  8.    Details of Demand Draft submitted towards cost
        of tender.
  9.    Details of Demand Draft submitted towards
        Earnest Money Deposit.
  10.   Please specify whether applying individually or
        through consortium.
                                        Eligibility Criteria
                                                               For Lead CA   For Associate
                                                                   Firm      CA Firms (if
                                                                                applying
                                                                                through
                                                                              consortium)
  1.     Whether the Lead CA Firm is empanelled with                         Not Required
         C&AG (Yes/No)
  2.     Whether the firm meets all the eligibility
         Criteria applicable to them. (Yes / No)
  3.     Total no. of years of experience of the Firm.

         (Also indicate under which range of the
         selection criteria does the Lead CA Firm fall
         i.e Atleast 10 years/ 10 - 12 years / more than
         12 years.)
  4.     No. of Partners
         (Provide a list of names with ICAI
         membership No.)

         (Also indicate under which range of the
         selection criteria does the Lead CA Firm fall
         i.e Atleast 5 partners/ 5-8 partners / more than
         8 partners.)
  5.     No. of Qualified CA Employees (other than
Page 21 of 24
         partners)
         (Provide a list       of   names    with    ICAI
         membership No.)

         (Also indicate under which range of the
         selection criteria does the Lead CA Firm fall
         i.e Atleast 5 Qualified CA employees/ 5-8
         Qualified CA employees / more than 8
         Qualified CA employees)
  6.     Whether the Lead CA firm has its registered /        Not Required
         main Office/ branch office at Delhi.
         (Yes / No)
  7(a)   Whether the Firm has an experience of
         conducting requisite no. of statutory and /or
         internal audit of eligible clients / organization.

  7(b)   Total No. (specify) and Names of eligible
         Autonomous Bodies / Statutory Bodies /
         Educational Institution/ PSU for which the
         Firm has carried out statutory / internal audit.
         (Enclose a list).

         (Also indicate under which range of the
         selection criteria does the Lead CA Firm fall
         i.e Atleast 3/ 3-5 / 5-9 / more than 9 eligible
         Autonomous Bodies / Statutory Bodies /
         Educational Institution/ PSU )
  8(a)   Whether the Firm fulfills the eligibility criteria
         with respect to minimum average annual
         turnover required.
  8(b)   Details for annual turnover for -
         FY 2015-16:
         FY 2016-17 :
         FY 2017-18:
         Average Turnover for three years:

         (Also indicate under which range of the
         selection criteria does the Lead CA Firm fall
         i.e average turnover is Atleast 3 crores/ 3-5
         crores/ more than 5 crores.
  9(a)   Whether the Firm fulfills the eligibility criteria
         with respect to minimum average Income as
         per Income Tax Return.
  9(b)   Details for Income as per Income Tax Return
         for -
         FY 2015-16:
         FY 2016-17 :

Page 22 of 24
          FY 2017-18:
          Average Income as per ITR for three years:

          (Also indicate under which range of the
          selection criteria does the Lead CA Firm fall
          i.e average income as per Income Tax Return
          is Atleast 50 Lakhs/ 50-70 Lakhs/ more than
          70 Lakhs.
  10.     Whether the Associate CA Firms are                                   Not Required
          independently eligible for bidding. (Yes/No)
          (if Yes, attach undertaking for the same)
  11.     Whether an undertaking/consent obtained from                         Not Required
          the Associate CA Firm.
          (Yes/No)
          (if Yes, attach certificate for the same)

 (Note: The documents/certificates required in the technical bid would be attached in the order
they are mentioned. Further, the details provided here must be true and correct, a declaration in
this regard is to be submitted)




                                                                    Signature of Nodal Partner
                                                                      With name and firm Seal




Page 23 of 24
                                                                                             Annexure - III
                                      FINANCIAL BID
   The interested Lead CA firm may quote their professional fees (all inclusive) in the following
   format:-
    S.     Particulars                                                     Amount in Rs.
    No.
     1.    Annual Professional fee for Internal Audit (Quarterly
            Basis) for the financial year 2019-20 for all 16
            campuses and Head Office.
     2.     Annual      Professional     fee for       consolidation      and
            finalization of financial statements for 2019-20 for
            each campus along with all schedules, accounting
            policies and notes on accounts at the end of financial
            year and the consolidation and finalization of the
            financial statements for Head Office and all the
            campuses at the end of financial year.
     3.     Other Annual Charges (including lodgings and
            boarding)
     4.     Total Annual Professional fee (1+2+3)

     5.     GST @ 18%

     6.     Grand Total

    Grand Total Professional fees in words .............................................................
    ...............................................................................................................


                                                                                Signature of Nodal Partner
                                                                                  With name and firm Seal




Page 24 of 24

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