Bihar State Education Finance Corporation limited{A Govt. of Blhar Undertakinsl

Annexe Euilding, Block-3, Main Secretariat Campus, Patna-8qp15

lnvitation of Expression of Interest (EOll from CAG emDanelled CA flam tor undertakinr

Concurrent Audit of Bihar gtate Educatlon Finance Corooratlon Limited' Patna

Bihar State Education Finance Corporation [imited, Patna (BSEFCL) invites bids from eligible bidders in

India for "Appointment of Concurrent Auditor" for lnternal Audit, Taxation related work, compliances of

entire financiaf ooeration and other related works of BSEFCL for the financial year 2O19-2O,202O-Zl and

2021-22. Interested firms having adequate experience are requested to download the detail Expression of

lnterest (EOl) available on the website http:/flnance.blh.nic.in of Finance Department, Govt. of Bihar.

Last date of submission of bids is 20th August, 2019

For any further query and information, please contact Ms. Aradhana Singh, Company Secretary of

BSEFCL, Patna, Mobile No. 9082228663.

CEO-cum-MD of BSEFCL reserves the right to accept/reject any or all bids without assiSning any reason.

CEO.Cum-MD

Bihar State Education Finance CorPoration Limited

Bihar State Education Finance Corporation !imited(A Government ot Eihar Undertaking)

Annexe Buildinq. Block-3, Main Secretariat Camous. Patna-800015

Invitation of Expression of Interest (EOl) from CAG empanelled CA firm for undertaking Concurrent

Audit of Bihar State Education Finance Corporatlon Limited, Patna

Terms and Conditions:

(A) Brief Profile

The Bihar State Education Finance Corporation Limited (B5EFCI) is a new entity established by the

Government of Bihar, under The Companies Act, 2013 to provide education loan to students of the State,

who have passed Class 12th, are below 25 years of age and studying or are to be enrolled in courses, as

decided by the Department of Education, Government of Bihar.

Expression of Interest is invited from interested CAG empanelled CA firms to carry out concurrent

audit of Bihar State Education Finance Corporation Limited. Scope of Work, Eligibility Criteria & evaluation

details are as follows:

(B| ftope of Work1. The concurrent audit shall be done by the Chartered Accountant firm on monthly retainer ship basis as per

the provisions of Bihar Financial Rules for Internal Audit, Taxation and other related works of BSEFCt.

2. Audit would cover compliance of entire financial operation of the financial year during the course of

execution of Bihar Student Credit Card Scheme.

3. The Auditors should have the knowledge of Bihar Financial Rules, Banking and Corporate Laws.

4. At the end of each month, the f irm shall submit a monthly report incorporating its observation/irregularities

found and corrected.

5. CA firm while submitting monthly invoice to BSEFCI- will also submit certified attendance of theirrepresentatives.

6. The audit will report any matter not covered by the above that in their opinion it requires the attention ofthe management.

7. Representative of CA firm deputed at BSEFCI office, Patna will not be replaced without prior consent of theCEO-cum-MD, BSEFCL, and Patna.

8. In case, the services of the representative of CA firm are found unsatisfactory by the BSEFCI, Patna, the CA

firm shall replace him/her within seven days of receiving such request from BSEFCL, Patna.

9. Manpower Requirement would be:

Oeilgnation QualificationMenpowetRequircd

Man Davs PetMonth Per Person

Team Leader CA with post qualification experience of l5 years 1 5 daysFinance & Audit SDecialist CA with post qualification experience of 5 vears 1 10 davs

Audit AssistantCA Inter with audit experience of at least l years

or B.Com with 3 vears of experience1 Full Month

10. The period to be covered under audit would be FY 2019-20, 2020-21 and 2021-22 subiect to the review every

year by the company's management.

(C) Eligibility Criteria

1. The Chartered Accountant firm should have PAN & GST registration and shall be CAG empanelled.

2. The firm should have been in operation for at last 10 years after registration.

3. The firm shall have minimum 2 FCA partners and 15 employees including articles.

4. Thefirm shall have a minimum average annual turnover of Rs. 25 Lacs for FY 2015 -76,2076-L7 and 2077-18.

5. The firm shall have experience in auditfinancial consultancy in externally aided proiects/Government or

Semi 6overnment organizations of at least 5 projects'

6. The firm must have experience of Internal Audit/concurrent Audit of any Government organisation having

registered under the Companies Act, 1955/2013 having turnover of more than 100 Crores'

7. Thefirmshall have its branch in Bihar for at least 5 years'

(Dl Other Points

1. The selected firm shall not sublet the assignment to any other cA firms or individual chartered Accountant'

tf such Dractice is found, the companY will be at liberty to rescind the retainership and blacklist the firm'

2.on|ythosebidapp|icationswi||bescrutinizedwhowi||qua|ifytheminimume|igibi|itycriteria.3. BSEFCL will have the right to cancel any application and/or postpone the processing of selection at anY stage

without assigning any reasons thereof.

4.TheaDo|icationmustcontainabankdraftofRs.5,ooo/-(RupeesFiveThousandon|y)asEMD.EMDofunsuccessfuIbidderswi||bereturnedwithing0daysafterthefinaIizationofthefirm.

5. No joint Venture or consortium will be allowed for the project'

6.Acopyoftheacknow|edSementofthe|ncomeTaxReturnofthefirmandofa||fu||timepartnersforthe|astThree Assessment Year and a copy of computation of income of full time partners'

7. The appointment for concurrent auditor is purely contractual and for a specific period of one financial year

(i.e'2019.2020)andthesamemayberenewedfurtherforanothertwoyearssubjecttosatisfactoryperformance/ eligibility for concurrent Audit'

g. All taxes, cess, duties and surcharge like income tax, service tax etc as applicable from time to time shall be

deducted from the gross amount of the bills of the CA firms'

g.Therespondentsha||be|iab|etomaintainsecrecyandconfidentia|ityofa||theinformation/data/

operations, etc., of BSEFCL.

10. Any form of canvassing / lobbying / influence / query

disqualification.

regarding short listing, status, etc., will be a

(El Bidding & Selection Process

1. The TechnicaI Bid, containing a|| the supporting documents for the e|igibi|ity criteria and as per marking

scheme should be enclosed in a separate sealed envelope with index and page number super scribing

'Technical Bid for Concurtent Audit" in enclosed prescribed Format-A'

The Financial Bid as per Format B containing single consolidated quote of Annual Fees inclusive of all taxes

and expenses should be enclosed in separate sealed envelope super scribing "Financial Bid for concurrent

Audit".Both the envelope should be kept in one big envelope super scribing "ApPlication for concurrent Audit"

and shall be sent through courier/speed post or by hand to the following address latest bY 20tn August,

2019 to Chief Executlve officer cum Managing Director, Bihaf state Education Finance cofporation

Limited, secretariat Annexe Buildin& Block No, 3, Ground Floor, Main tecretarlat campus, Patna-800o15'

The bid will be opened on 21't August, 2019 at 4.OO PM at the official chamber of chief Executive officer

cum Managing Director, Bihar State Education Finance corporation Limited, secretariat Annexe Building,

Block-3, Main secretariat campus, Patna-800015. Apptications received after the stipulated date and time

will not be considered for evaluation. Bidder or his representative may remain present at the time of

opening of bid document.

The short listing of applications in view of the prescribed parameters & eligibility criteria shall be done by

theEvaIuationcommitteeofBiharStateEducationFinancecorporationLimited.

The firms scoring a minimum of 750 marks would be eligible for opening of the Financial Bid

The cA firm quoting the minimum Bid after technical evaluation will be selected for carrying out the

Concurrent Audit.

2.

5.

6.

7.

8. After completion of all the processes, the CA firm finally selested in the manner as specified above will get

the assignment letter after approval from Bihar State Education Finance Corporation limited, Patna along

with terms & conditions.

9. For any further query and information, Ms. Aradhana Sinth, Company secaetary, BSEFCI, Patna, MoblleIto. 9082228053 may be contacted.

10. Bihar state Education Finance Corporation Limited, Patna reserves the right to modify/cancelthe full/part ofthe contents ofthe advertisement without assigning any reason thereof.

11. The detail EOI is also available on the website http:/ftnance,blh,nlc.in of Finance Department, Govt. ofBlhar.

(Fl Disoute Resolution

In case any dispute arises between the parties with respect of the terms of reference, including its validity,the jurisdiction of the court shall be at Patna.

FORMAT.A

lnformation and Document for Eliglblllty ctlteria and technlcal Qualificatlon

S. No. Particulars Details SupportinB Require!

Name of CA firm, Address, Branch Details,

Email , Contact number Firm Constitution Certificateon or after 01.01.2019Date of Establishment

Details of Partners (ACA/FCA) and list ofemployees/articles

2 PAN NO. Copy of PAN

3 GST No. copy of GsT Registration

4 CAG Emoanelment Proof of CAG Empanelment

4 Average Annual Turnover for last 3 FY i.e.

2OL5-L6, 2016-17 and 2017-18

Copy of Audited Financial

Statements

) Details of Govt Assignments/Externally Aided

Proiects handled related to AuditCoot of work Order/ IOAvalidating the work awarded

5 Detailed CV of Team Leader and Finance &Audit Soecialist

Detailed Curriculum Vitae

Non Blacklisted Declaration Self Declaration for Non

Blacklisting

8 Name of the company /bodyaudited(a) Society/Psu/ autonomous body

(b) companies in private sector

(c) Banks

(d) Social Sector Programmes / Projects

(e) Externally aided social sector proiects

(f) Education Projects/ Programmes

FORiIAT.B

.@inc|usiveofal|duties,taxes,cess,surcharges&expensestobeincurredduring the annual working i.e. lodging, fooding and transportation etc. l,lo additional cost will be borne by

BSEFCI. Patna.

(ggnature of the BHder and Seal of th€ Flrml

Name:

tt€signation:

Mobile llo:

Fonnat for Financlrrl Bld

S. No. Pedod of Auditfotat lmount tn ns.l Quoted for the tudit Pcrlod on l|o||drly Bail3

In FBures ln Words

1 20 r.20,202G21andm2t-2j2

sEcrlot{-B

s€f decler.tion/Undertaklnt

l/we the following partners of M/s.

and severely verify and declare-

Place:

Chartered Accountant do hereby jointly

(i) that the particulars given are complete and correct and that if any of the statements made or the

information so furnished in the application from is later found not correct or false ot there has been

suooression of material information, the firm would not only stand disqualified from allotment but would

be liable for disciplinary action under the Chartered Accountants Act, 1949 and the regulations framed

thereunderj(ii) that the firm, proprietor or partners has not been debarred or cautioned by lCAl during the last three

years, (if debarred, give details);

(iii) that individually we are not engaged in practice otherwise or in any other adivity which would be deemed

to be in practice under Section 2 (2) ofthe Chartered Accountants Act, 1949;

(iV) that the constitution of the firm as on 1,t January of the relevant year shown in the Expression of Interest is

same as that in the constitution certificate issued by the lCAl.

Sl. No.Name of the

pannerMembershipRegistration No.

PAN NoSignature of

panner

(seal of the Firm)

Date:

Enclosures:

whetherfirm has done

(a) statutory/Branch Audit

(b) tnternal/Concurrent Audit

Checked by

Date :

For Offlc€ use OnlY

Verified by

Yes/No

Yes/No

updated by

tl. No. Criteria Marking Maximum Marks

1 No. of Partners 100 marks

< 2 Partners 0 marks

3-4 Partners 50 marks

>4 Partners 100 marks

2 Annual average Turnover of the firm (3 yearsl 200 marks

25-50 Lacs 50 marks

50-100 Lacs 100 marks

>100 Lacs 200 marks

3 Years of Experience of Firm 200 marks

>10 years 50 marks

10-15 years 100 marks

15-20 years 150 marks

>20 years 200 marks

4 Govt. Assignments/Proiects or Externally Aided

Proiects Experience in Audit/Accounting

200 marks

>10 Projects 100 marks

10-15 Projects 150 marks

>20 Projects 200 marks

5 Team Leader Experience (Gow prolects) 100 marks

Less Than 3 Project 0 marks

3 to 6 Projects 25 marks

5 to 10 Projects 50 marks

10 and above 100 marks

6 Team Leader Experience (in Years| 100 marks

<10 years 0 marks

10-15 years 25 marks

15-20 years 50 marks

>20 years 100 marks

7 The firm must have experience of Internal

Audit/Concurrent Audit of any Government

organisation having registered under theCompanies Act having turnover of more than 100

Crores.

100 marks

1 to 2 Project 50 marks

More than 2 Projects 100 marks

TOTAL 1000 marks