MTNL inviting EOI for preparation of internal control system

MAHANAGAR TELEPHONE NIGAM LIMITED

(A Government of India Enterprises)

No.2-1/Accts/C 0/IC FR/2015-16

Dated: 18.02.2016

Subject:-INVITING EXPRESSION OF INTEREST (E.O.I) FOR APPOINTMENT OF CA FIRM FOR PREPARATION OF INTERNAL CONTROL SYSTEM ON  FINANCIAL REPORTING UNDER THE COMPANIES ACT 2013 FOR ONE  YEAR.

Expression of Interest is invited from the interested Chartered Accountancy firms/LLPs for consultancy services for review, evaluate & identify MRCM and establishment of effective Internal Controls System in various units/sub-units of MTNL including remediation of any control gaps. MTNL has three main units – MTNL Mumbai including WS Mumbai, MTNL Delhi including WS Delhi and MTNL Corporate Office at Delhi. Other Accounting units/Sub Accounting Units/Sub-Units of MTNL are located at Delhi & Mumbai. After the establishment & remediation if any of Internal Controls, consultant has to assist & coordinate with statutory auditors for their final testing & reporting.

1. Eligibility conditions:-

(a) The CA firms/LLP should have Head office/Branch offices at both Mumbai and Delhi.

(b) The firm/LLP should have five or more partners. At least one partner should be FCA and at least one of them should have DISA qualification.

(c) The firm/LLP should have experience of at least five years as on the offer submission date.

(d) The firm/LLP should have at least one year experience of complete comprehensive review and implementation of internal control system under IGAAPLUSGAAP/SOX compliance in previous five years in any listed entity or any company which have a turnover of Rs 500 crore or more.

(e) The preference will be given to the firm having experience of Internal audit/Statutory Audit/Implementation of Internal Financial control system in a Telecom Company.

(f) The working/present auditors of MTNL are precluded from being considered and hence are not eligible to apply. The declaration, that the firm/LLP is not notified for any unwarranted or misleading reporting or not in receipt of any adverse notice against it by Institute of Chartered Accountants of India or by the Ministry of Corporate affairs or CAG, has to be submitted in the E.O.I.

(g) The turnover of firm/LLP should not be less than Rs.25,00,000/- annually in any of the preceding three years, in this regard audited P&L Accounts for the last three years to be attached with the bid.

2. CA firm/LLP to be engaged for internal financial control system will not be allowed to subcontract the job awarded to them.

3. The CA firm/LLP shall be appointed for one year initially which may be extended for one year further based on the performance.

4. Performance of the Agency may be reviewed at any time during the year and contract may be terminated anytime after giving one month’s prior notice if performance of the company is found unsatisfactory.

5. The validity of the proposal shall be for 150 days from the date of opening of the Technical Bid without change in the personnel proposed for the assignment in the proposed price.

6. Rates should be offered all inclusive except service tax. Service tax as applicable on the date of payment will be paid extra by the MTNL.

7. In case of any discrepancy in the amounts quoted in words and numerical in the financial bids, the amount quoted in words would prevail for evaluation purposes.

8. The rates quoted are for one year which will be applicable for next year also, if the contract is extended.

9. Payment shall be released by respective units of MTNL on quarterly basis as per the certificate confirming work done during the quarter.

10. TDS or other statutory deductions as applicable will be deducted by the MTNL at the rates notified by the Govt. of India from time to time for each bill.

11. In case of any dispute, the decision of CMD, MTNL shall be final and binding on the C.A. firm or arbitration clause. Jurisdiction of court/arbitration will be New Delhi only.

12. Scope of work is given in Annexure-D.

13.  Submission of “EOI”

i) Proposals are invited in duplicate in two separate sealed and stamped envelopes marked as original and duplicate. In each of the envelopes there will be two separately sealed envelopes, one for the financial bid and another for technical bid accordingly with clear heading/marking as “Financial bid” and “Technical bid” on respective envelops and in the technical bid EMD of Rs.20,000/- in the form of DD/Pay order shall invariably be enclosed without which bid will not be considered.

a) Technical Bid:

Technical bid should contain all the requisite details and documents as per Annexure A detailed as below:

  • Name of the firm/LLP
  • Date of Establishment
  • Address
  • Presence and locations of Offices in Delhi & Mumbai
  • Name & Designation of the authorized signatory
  • Phone No. & Mobile No. :
  • Fax No. & Email.
  • Firm/LLP Registration no. and Date of establishment (Registration copy to be attached)
  • Service Tax Registration Number and PAN (copies to be attached)
  • Number of partners with details regarding ACA/FCA and DISA qualifications
  • Details of experience (as per para 1(d) and 1(e) of above eligibility conditions).
  • Turnover of the Firm./LLP
  • Details of EMD/Bid Security
  • Clause by clause compliance/certificate, self declaration, certificate in compliance to para 1(f) of eligibility condition as per Annexure-C.

It is required to submit documentary evidence regarding experience, turnover, no of partners and the existence of the firm/LLP along with the proposal.

b) Financial Bid:

Total lump sum fee is defined terms for the assignment be quoted in financial bid of the proposal in (Annexure B). The EOI/Bids will be evaluated based on such all inclusive price excluding cenvatable taxes only of the technically qualified bidders and the lowest bidder shall be selected for award of work. Applicable taxes if any should be mentioned clearly in the all inclusive price in the proposal clearly demarking cenvatable and non cenvatable taxes as the selection is on the basis of Ll price with all taxes excluding cenvatable taxes.

The envelopes containing bids should be submitted on or before 05.03 .2016 by 11.30 Hrs. at the address:

The Sr. Manager (Accounts)

Mahanagar Telephone Nigam Ltd.

Room No. 4502 4th Floor, Mahanagar Doorsanchar Sadan

9, CGO Complex, Lodhi Road, New Delhi-110 003

ii) Technical bid will be opened first on 05-03-2016 at 15:00 hours. Financial bid containing price/rate will be opened only in respect of the bidders, who qualify in the Technical bid. The date of opening of financial bid, for those who qualify in the Technical bid will be intimated subsequently. Corresponding financial bid of ineligible and non responsive bids will not be opened and same will be returned to the unsuccessful bidder in due course of time by registered post or by hand. Only one representative may be sent for participation in the opening bid process, for which separate intimation shall be sent to the short listed bidders.

iii) The selected firm/bidder would have to furnish security deposit @5% of the value of the contract by depositing the same to Accounts Officer (Cash), Corporate office within 5 days of the letter of intent issued by this office on selection.

iii) MTNL reserves the right to accept or reject the EOI, and to annul the process and reject all EOIs at any time without assigning any reason what so ever and without thereby incurring any liability to the affected bidders.

iv) Clarifications, if any, required in respect of scope of work or any other related issue may be asked five days in advance prior to the date of bid opening i.e. by 05.03.2016 and will be clarified immediately through E-mail at least two days prior to the date of opening. It is also requested to furnish the E-mail, Fax No and Telephone no of the person authorized by the bidder to receive the clarification while asking for the clarification. E-mail of the undersigned declared as the nodal officer for this purpose is also mentioned below.

Yours faithfully,

Sr. Manager (Accounts)

Fax No. 011-24325681

Tele No. 24324118

Email: dgmaccnt@gmail.com 

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