{"id":2651,"date":"2016-03-01T16:03:56","date_gmt":"2016-03-01T10:33:56","guid":{"rendered":"https:\/\/taxclick.org\/?p=2651"},"modified":"2016-03-01T16:03:56","modified_gmt":"2016-03-01T10:33:56","slug":"mtnl-inviting-eoi-for-preparation-of-internal-control-system","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/opportunities\/mtnl-inviting-eoi-for-preparation-of-internal-control-system\/","title":{"rendered":"MTNL inviting EOI for preparation of internal control system"},"content":{"rendered":"

MAHANAGAR TELEPHONE NIGAM LIMITED<\/strong><\/p>\n

(A Government of India Enterprises)<\/strong><\/p>\n

No.2-1\/Accts\/C 0\/IC FR\/2015-16<\/strong><\/p>\n

Dated: 18.02.2016<\/strong><\/p>\n

Subject:-INVITING EXPRESSION OF INTEREST (E.O.I) FOR APPOINTMENT OF CA FIRM FOR PREPARATION OF INTERNAL CONTROL SYSTEM ON\u00a0 FINANCIAL REPORTING UNDER THE COMPANIES ACT 2013 FOR ONE\u00a0 YEAR.<\/strong><\/p>\n

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.<\/p>\n

1. Eligibility conditions:-<\/strong><\/p>\n

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

(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.<\/p>\n

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

(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.<\/p>\n

(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.<\/p>\n

(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.<\/p>\n

(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.<\/p>\n

2.<\/strong> CA firm\/LLP to be engaged for internal financial control system will not be allowed to subcontract the job awarded to them.<\/p>\n

3.<\/strong> The CA firm\/LLP shall be appointed for one year initially which may be extended for one year further based on the performance.<\/p>\n

4.<\/strong> 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.<\/p>\n

5.<\/strong> 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.<\/p>\n

6.<\/strong> 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.<\/p>\n

7.<\/strong> 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.<\/p>\n

8.<\/strong> The rates quoted are for one year which will be applicable for next year also, if the contract is extended.<\/p>\n

9.<\/strong> Payment shall be released by respective units of MTNL on quarterly basis as per the certificate confirming work done during the quarter.<\/p>\n

10.<\/strong> 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.<\/p>\n

11.<\/strong> 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.<\/p>\n

12.<\/strong> Scope of work is given in Annexure-D<\/strong>.<\/p>\n

13.<\/strong>\u00a0<\/u> Submission of “EOI”<\/u><\/strong><\/p>\n

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.<\/p>\n

a) Technical Bid:<\/strong><\/p>\n

Technical bid should contain all the requisite details and documents as per Annexure A<\/strong> detailed as below:<\/p>\n