INVITATION FOR LOAN ACCOUNT INTEREST CHECKING FOR THE YEAR (A Govt. of India Enterprise)

Transcription

1 INVITATION FOR LOAN ACCOUNT INTEREST CHECKING FOR THE YEAR (A Govt. of India Enterprise)

2 Notice inviting offers for Professional Services 1.0 Introduction 1.1 India Infrastructure Finance Company Limited (IIFCL) is a wholly owned Government company, established under the Companies Act, 1956 having its Registered Office at 8 th Floor, Hindustan Times Building, 18 & 20, Kasturba Gandhi Marg, New Delhi India. The financials of IIFCL (here-in after referred to as company) as on is as below:- Sl No. Particulars Amount (` in Crs. ) 1. Authorized Share Capital Issued Share Capital Gross Receipt Profit after Tax 753 This is the initial phase of IIFCL and the company is on a growing path. 2.0 Brief details 2.1 The Company intends to engage professionals for rendering services for calculation of interest in Loan Accounts of the company for the FY This document is not a recommendation, offer or invitation to enter into a contract, agreement or any other arrangement in respect of the services. This invitation is to shortlist professionals for rendering the aforementioned services. 3.0 Objective 3.1 The Company intends to engage professionals for rendering services for calculation of interest in Loan Accounts of the company for the FY The Professional would be required to conduct the work as per scope of work mentioned at Para 4.7 and submit their report before 30 th April Also, the report as submitted will be placed before the Audit Committee of the Board of Directors. 3.2 Sealed two-part offers are invited by IIFCL, Registered Office, Internal Audit Department from bonafide & reputed professional Firms of Chartered Accountants in the field of Audit and having adequate infrastructure and establishment, for rendering professional services for interest calculation of Loan Accounts.

3 4.0 Further Details 4.1 Brief Description IIFCL is a wholly-owned Government of India company set up in 2006 to provide longterm finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI. The sectors eligible for financial assistance from IIFCL are as per the Harmonized list of Infrastructure Sub-Sectors as approved by the Government and RBI and as amended from time to time. These broadly include transportation, energy, water, sanitation, communication, social and commercial infrastructure. IIFCL has been registered as a NBFC-ND-IFC with RBI since September Key Financials Particulars FY Ended Mar 2013 FY Ended Mar 2014 Figures in Rs Crore FY Ended Mar 2015 H1 FY (Sep 2015) Total Assets 34,880 38,756 39,064 40,037 Net Worth (as on 31 st March of FY) 4,858 5,782 6,796 6,994 Net Profit 1, Infrastructure Loans 24,152 23,881 26,995 31,847 Note: H figures are subject to audit 4.3 Scope of Activities IIFCL is engaged in providing long term financial assistance to commercially viable infrastructure projects with overriding priority PPP projects in the country in designated sectors like Road and bridges, railways, seaports, airports, inland waterways and other transportation projects Power Urban transport, water supply, sewage, solid waste management and other physical infrastructure in urban areas Gas pipelines Infrastructure projects in Special Economic Zones International convention centers and other tourism infrastructure projects; Cold storage chains

4 Warehouses Fertilizer Manufacturing Industry. 4.4 Modes of Funding The company renders financial assistance through: Long Term Debt; Refinance to Banks and Public Financial Institutions for loans granted by them. Take out Financing Subordinate Debt Credit Enhancement. 4.5 No. of Loan Accounts for Interest calculation Interest is to be calculated for all the Loan Accounts of the organization. The total number of Loan Accounts is 407 as detailed below Particulars No. of Loan Accounts Funded Interest Term Loan 21 Direct Lending 254 Pooled Municipal Debt Obligation 29 Refinance 1 Take out Financing 102 Total Data Maintenance Accounts data is maintained on Tally ERP 9.0. The data for Loan accounts such as interest rate changes, Sanction Letter, Repayment Schedules are maintained in hard files. Interest calculation of Loan Accounts are done on excel sheets. 4.7 Scope of Work The scope of services would include the following work. 1. Calculation of Interest, Penal Interest, Liquidated Damages for all the aforementioned 407 Loan Accounts from 1 st April 2015 to 31 st March A report on Interest amount to be increased / decreased based on the amount charged in the books on account and the aforementioned calculation to be submitted Loan Account wise.

5 5.0 Eligibility Criteria of Firm / Company: 5.1 Strength of the organisation in Internal Audit a. The applicant firm should have its principal/branch office in New Delhi. b. As on , the Firm taking up the assignment should have a minimum strength of 4 Chartered Accountants, including Partners, engaged in the field of Audit. c. The firm should have handled internal audit of at least two Public Sector Undertakings in the past 10 years. Experience of Public Financial Institutions (PFIs) plus Insurance Companies shall be of added advantage. 5.2 Post qualification experience of Partners in Internal Audit applicant Firm a. At least 2 Partners of the Firm should have post qualification experience of 10 years + with the applicant firm and 5.3 Area of operation, strength & experience of the firm a. The Firm must have experience of handling Audit related matters for at least 5 years+. b. The Gross Taxable Income of the Applicant firm should be at least ` 10 lakhs for the AY: General a. The applicant should not have been black listed/debarred/ disqualified by any regulatory/ statutory body or Government entity or any International/National agency for corrupt or fraudulent practises. b. The applicant should not have an adverse litigation history. 6.0 Commercials 6.1 The applicants shall be required to quote a fixed all-inclusive fee (excluding service tax) for execution of assignment as mentioned in Para 4.7 above.

6 7.0 Technical Feasibility (a) (b) The Firm (referred as applicants ) should meet the eligibility criteria to come under the purview of Technical Feasibility. The applicants in support of their declaration vowing Technical Feasibility shall be required to furnish entire set of documents to be submitted in a separate sealed cover, super scribing ")- PART - I : INTERNAL AUDIT DEPARTMENT- For rendering Professional Services in the field of Internal Audit-TECHNICAL FEASIBILITY. (format of Part-I can be downloaded from the website Financial Quote (a) (b) The Firm (referred as applicants ) should be Technically Feasible to be considered for evaluation of Financial Quote. The applicants in support of their Financial Quote shall be required to furnish their commercials in a separate sealed cover, super scribing PART - II : INTERNAL AUDIT DEPARTMENT- For rendering Professional Services in the field of Internal Audit -FINANCIAL QUOTE. ( format of Part-II can be downloaded from the website Procedure for submission and opening of Offers 9.1 One hard copy of Part-I & Part-II each as stated in para 9.2 & 9.3 below, in two sealed envelopes (1 for each part) needs to be submitted at the following address : The Manager, Internal Audit Department, India Infrastructure Finance Company Limited 8th Floor, Hindustan Times Building, 18 & 20, Kasturba Gandhi Marg, New Delhi Telephone No Fax Number Part I of the offer should be submitted in a separate sealed cover, super scribing "PART-I (internal Audit Department) for rendering Professional Services in the field of Internal Audit TECHNICAL FEASIBILITY. Part I of the offer should contain the following: a. Profile of the Firm with address, year of establishment, Status of the Firm, Name of the Partners, Membership number of Partners and Firm as registered with ICAI. b. List of the work done in last 3 years with name of the clients for which professional services have been rendered.

7 9.3 Part II of the offer should be submitted in a separate sealed cover, super scribing "PART-II (Internal Audit Department) for rendering Professional Services in the field of Internal Audit FINANCIAL QUOTE.Part II of the offer should contain the following: a. Fixed all-inclusive Fees for execution of the assignments as mentioned in Para The selection shall be done based on eligibility of the applicant as the case may be, subject to the management s discretion Validity Period Last day for submission of Technical & Financial Bids is March 18, The company will not entertain any communication initiated by applicants and received after the last date of submissions. However, the company may, in its absolute discretion, seek additional information or material or evidence from any applicant after the last date and all such information and material provided must be taken to form part of applicant s response. Any additional information or material or evidence so requested would be required to be submitted within 7 days of the requisition 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.

8 EVALUATION CRITERIA The following evaluation criteria will be applied for evaluating the selection of the applicants. The evaluation shall be based on top-down approach indicating the applicant s more favourable probability to win the assignment if they get maximum qualifying score. The table for obtaining qualifying scores are as under Sl. No Criteria Maximum Score 1 Strength of the organisation in Internal Audit [refer para 5.1] (10% for each sub-point a,b,c) 30% 2* Post qualification experience of Partners in Internal Audit applicant Firm [refer para 5.2, sub-point a] 3 Area of operation, strength & experience of the firm [refer para 5.3] (15% for each sub-point a and b) 40% 30% Total 100% a. The minimum qualifying score shall be 60% b. The QCBS (Quality & Cost Based Selection) criteria of Technical & Financial Parameters using the weight ratio of 60:40 would be applied to calculate the scores of the bidders. c. Maximum of ten applicants depending on their order of merit, ranked on the basis of the scores will be short listed. d. If more than one applicant secures tenth place, the one securing more under location criteria will be short-listed. TABLE A [refer para 5.1, sub-point a ] Situation % 1 Principal/branch office in New Delhi Principal/branch office in any other 5 metro 3 Principal/branch office in any other place other than metro 2

9 * TABLE B [refer para 5.2, sub-point a ] Situation % 1 Two full time FCA partners with 30 minimum experience of 10 years in Audit 2 More than 2 partners & upto 4 FCA 35 partners with minimum experience of 10 years in Audit 3 More than 4 partners with minimum experience of 10 years in Audit 40