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1 ADVERTISEMENT (To be loaded at Public Notice) ENGAGEMENT OF DETECTIVE AGENCIES PNB, Zonal Office, Bhopal invites applications for empanelment of Detective Agencies for the period for the state of MP & CG. For criteria of qualifications, experience, address of the Zonal Office & other details please visit Bank s website (under public notice). Please note that applications and other documents may be submitted to PNB, Zonal Office, Bhopal till (05.00 pm). Punjab National Bank Zonal Office, PNB House 1 Arrera Hills, Jail Raod Bhopal (MP) ADDRESS of the Zonal Office Engagement of Detective Agency Page 1

2 Annexure-I APPLICATION FOR EMPANELMENT AS DETECTIVE AGENCY Sl. Particulars Information about the Detective Agency 1. Name of the Agency 2. Address 3. Constitution 4. Names of the Key Persons 5. Contact Numbers of the Key Persons 6. Address 7. Area of Operation and Specialization 8. Names of the Banks/Institutions/Bodies, empanelled with 9. Details of past experience 10. Details of any special achievement 11. Whether member of APDI (Association of Private Detectives & Investigators of India), if yes attach membership proof The application must be accompanied with following details: a. Copy of the partnership deed, in case of partnership firm. b. Photocopies of the academic Qualifications. c. Proofs of Experience. d. PAN Number(s) along with the copies of the same. e. Address proof. f. Proof of Membership of APDI (Association of Private Detectives & Investigators of India). g. Copies of Registration/Empanelment with other accredited agencies/fis/banks as on date, mentioning the nature of empanelment. h. Important assignments completed / undertaken during the last three financial years. i. Personal & professional details of the promoters/partners/directors. j. Copy of the audited Balance Sheet & Revenue Statement for last 03 Financial Years. k. Copy of the ITR returns for last 03 Financial Years. Declaration I/we declare that the particulars furnished above are true to the best of my knowledge and belief. I/we, further confirm that all the necessary supporting documents are enclosed with the application. I/we hereby undertake that the firm/company, if empanelled, shall have arm s length distance with the proposed clients for whose forensic audit of loan account is done, will not have any business dealings with them or give them undue favour, will not demand additional remuneration than what is initially settled nor will unnecessarily delay the investigation report. I/we hereby apply to the bank to empanel firm/company on the Bank s panel as forensic auditor of stressed loan accounts. I/we understand that any discrepancy/wrong information/breach of undertaking would lead to cancellation of enlistment as auditor with immediate effect. Place Date - Name & Signature Engagement of Detective Agency Page 2

3 Format of undertaking to be submitted by Detective Agency (All partners separately in case of Firm) I son / daughter / wife of r/o do hereby Solemnly affirm and state that: 1. I am a citizen of India. 2. I have not been removed / dismissed from any service / employment earlier. 3. I have not been convicted of any offence and sentenced to a term of imprisonment. 4. I have not been found guilty of misconduct in professional capacity. 5. I am not an un-discharged insolvent. 6. I have not been convicted of an offence connected with any proceeding under the Income Tax Act 1961, Wealth Tax Act, 1957 or Gift Tax Act My PAN card No. / Service Tax No., as applicable is. 8. I undertake to keep you informed of any events or happenings which would make me ineligible for empanelment as Detective Agency. 9. I have not concealed or suppressed any material information, facts and record and I have made a complete and full disclosure. Dated: Signature: Name: Engagement of Detective Agency Page 3

4 Fee Structure Payable to Detective Agencies Sl. Nature Of Task Assigned Fee Payable 1. On receipt of information about whereabouts of the missing/absconding borrower / guarantor / co-borrower / director etc. subject to production of documentary proof/evidence. 2. For locating properties other than details of which are available in Bank s records, which may lead to attachment of the same along-with the documentary proof. (All the properties in one title deed to be considered as one property). 3. For providing any other information, which may be helpful for recovery of Bank s dues e.g information about other businesses, credit facilities from other banks, accounts with other banks including verification of present position of properties as per Bank s records, subject to production of documentary proof/evidence. Rs. 7,500/- per person subject to maximum fee of Rs. 30,000/- under this category, per account. Rs. 20,000/- for each property located, subject to maximum fee of Rs lacs under this category per account. Rs. 2,500/- per piece of information, with maximum amount of Rs. 10,000/- per account. 4. Payment of reasonable out of pocket expenses may also be sanctioned subject to maximum of Rs. 10,000/- per account. Circe Head will be the competent Authority to take a decision for payment of such out of pocket expenses. The Detective Agency to give details of visits/proof of expenditure. 5. In case the Detective Agency fails to trace the borrower/guarantor etc. 6. In case the Detective Agency fails to trace the property. Maximum fee of Rs. 3,000/- per account can be paid. Maximum fee of Rs. 7,000/- per account. *(Service Tax will be payable over and above fee. TDS as applicable will be Deducted.) ********************** Engagement of Detective Agency Page 4

5 Scope of Detective Agency Locate the borrower(s)/ co-borrower(s)/ guarantor(s)/ mortgagor(s), (in/outside India) including their legal heirs who are either untraceable or not available at the addresses given in Bank s records. Ascertain latest information about their present address(es)/ occupation(s), business(es), income streams, details of their all assets, whether charged or uncharged, their location(whether in India or abroad), value and ownership, etc. Give details of bank accounts maintained by the defaulting borrower(s)/guarantor(s), including their legal heirs. Give details of credit facilities availed/to be availed by defaulting borrower(s)/ guarantor(s) from other Banks. Confirm present state of ownership of the secured assets by personal visit(s)/market report, duly confirmed by the documents. Gather any other information which the Bank cannot access by utilizing normal channels like CIBIL/internet/local enquiries and which may be considered necessary by the Bank for recovery of the Bank s dues. ************** Engagement of Detective Agency Page 5

6 Qualification required for Engagement of Detective Agency Only agencies (Partnership Firms/ Companies/Corporations etc.) with sufficient means/ resources/ field experience will be considered for engagement. The Agencies must be member of Association of Private Detectives & Investigators of India, also known by the name APDI. The Agency must have minimum 3 years of experience in this activity. Further, the following factors are also to be looked into for engagement: a. Past experience and competence to perform the task which can be assigned over the contracted period. b. Financial soundness and ability to service commitments even under adverse conditions. c. Business reputation and culture, compliance, complaints and outstanding or potential litigation. d. External factors like political, economic, social and legal environment of the jurisdiction in which the service provider operates and other events that may impact service performance. e. Wherever possible, the bank shall obtain independent reviews and market feedback on the service provider to supplement its own assessment. f. It should be ensured that the Agencies carry out verification of the antecedents of their employees, which may include pre-employment police verification, as a matter of abundant caution. g. It shall also be ensured that the service provider s employees maintain same high standard of care in performing the services as would have been maintained by the Bank as if the activities were conducted within the Bank. h. Agencies will put its best efforts to provide the services assigned to them and will function in such a manner that it will not cause any business loss to the Bank or entail any legal or other responsibility/liability to the Bank or its officials. i. Observe the highest professional and ethical standards. j. Adhere to the instructions and guidelines provided by the Bank from time to time and not adopt or resort to any method, conduct or procedure in contravention of any Law/Act/Rules/ Fair Practices Code/Code of Conduct which may be issued from time to time by the Government/ RBI/Indian Bank s Association or any other authority. k. Comply with RBI s Guidelines on Fair Practices Code for Lenders and Guidelines on Managing Risk & Code of Conduct in Outsourcing of Financial Services by Banks. l. The Agency shall not resort to use of coercive methods or commit any wrongful act or offence against person/property of the borrower(s), guarantor(s) or any other liable party (ies), while collecting the information. The guidelines issued by the Govt/ RBI/Court, in this regard shall be meticulously followed by the Agency. The Agency unconditionally agrees that the Bank s decision in this respect shall be final and binding in regard to the Agency s compliance. m. Bank reserves the right to reject any or all applications for engagement without assigning any reasons there for. ********************** Engagement of Detective Agency Page 6