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Mahanagar Telephone Nigam Limited, India Infrastructure Finance Company Limited, East Kid
Lodhi Road, New Delhi
Raipur Smart City Ltd., Raipur (C.G.)
Andhra Pradesh Capital Region
Development Authority, Vijayawada, A.P.
Odisha Power Generation Corporation
Limited, Bhubaneswar, Odisha October, 11th 2019
Corrigendum Syama Prasad Mookerjee
Port, Kolkata, West Bengal -DNBS.ND. No.1222 / / 04 17 004/2013 - 14)
: , 2, , , - 110023
Jharkhand Bijli Vitran Nigam Limited,
Ranchi, Jharkhand : + 91-11-24662777, : + 91-11-20815125, 20815117
Assam Health Infrastructure Development : www.iifcl.org
and Management Society, Guwahati, Assam : U67190DL2006GO1144520
Uttar Pradesh Real Estate Regulatory
Authority, Lucknow, Uttar Pradesh
25 LPA Opening Auditor Fund Management
Punjab National Bank, Gurugram, Haryana IIFCL/IAD/Proc/2019-20/03 4 th October, 2019
M.P. Water and Land Management Institute,
Bhopal, Madhya Pradesh

Page 1 of 49
Request for Proposal (RFP) for Appointment of Concurrent Auditor for Concurre
of Operations of India Infrastructure Finance Company Limited

A Govt. of India Enterprise

(Registered with RBI w.e.f 9th September 2013 vide Certificate of

Registration no. DNBS.ND. No.1222/Regn. New/04 17 004/2013 14)
Regd. Office : Plate A & B, Tower 2, NBCC Centre, East Kidwai Nagar, Delhi - 1
Phone : +91-11-24662777, Fax : +91-11-20815125, 20815117
Website: www.iifcl.org
CIN : U67190DL2006GO1144520

Tender No. IIFCL/IAD/Proc/2019-20/03 Dated 3rd October 2019

Pag
DISCLAIMER

The information contained in this Request for Proposal (RFP) document or infor
provided subsequently to the bidder(s) or applicants whether verbally or in do
form, by or on behalf of India Infrastructure Finance Company Limited (IIFCL)
to the bidder(s) on the terms and conditions set out in this RFP document and
and conditions, subject to which such information is provided.

This RFP document is not an agreement and is neither an offer nor an invitatio
IIFCL. This RFP is to invite proposals from applicants who are qualified to su
("Bidders"). The purpose of this RFP is to provide the Bidder(s) with informat
assist them in formulation of their proposals ("Bids"). This RFP does not clai
all the information, which each Bidder may require. Each Bidder should, at its
without any right to claim reimbursement, conduct its own investigations, anal
should check the accuracy, reliability and completeness of the information in
wherever felt necessary obtain independent advice. IIFCL makes no representati
warranty and shall incur no liability under any law, statute, rules or regulat
accuracy as to the accuracy, reliability or completeness of this RFP.

The information contained in this RFP document is selective and is subject to

expansion, revision and amendment. IIFCL does not undertake to provide any Bid
access to any additional information or to update the information in this RFP
correct any inaccuracies if any therein, which may become apparent. IIFCL rese
right of discretion to change, modify, add to or alter any or all of the provi
and/ or bidding process, without assigning any reasons whatsoever. Such change
intimated or made accessible to all Bidders or can be accessed in website of I
information contained in this RFP document will be superseded by any later wri
information on the same subject made available/ accessible to Bidder(s) by IIF

Information provided by IIFCL in this RFP is on a wide range of matters, some

may depend upon interpretation of law. The information given is not intended t
exhaustive account of statutory requirements and should not be regarded as a c
authoritative statement of law. Further, IIFCL also does not accept liability
whether from negligence or otherwise howsoever caused arising from reliance of
upon the statements contained in this RFP.

IIFCL reserves right to reject any or all the Bids received in response to thi
stage without assigning any reason whatsoever and without being liable for any
injury that Bidder might suffer due to such reason. The decision of IIFCL shal
conclusive and binding to all the Bidders/ parties directly or indirectly conn
bidding process.

Definition of Terms used in this RFP:

The following terms are used in the document interchangeably to mean:

1. "FY" means financial year;

2. "The Company" means India Infrastructure Finance Company Limited (IIFCL);
3. "The Contract" means the agreement entered into between the Company, repr
by its Head Office / Regional Offices and the Supplier of goods and servi
recorded in the Contract Form signed by the parties, including all attach
appendices thereto and all documents incorporated by reference therein;
4. "The Contract Price" means the price payable to the Bidder under the Con
full and proper performance of its contractual obligations;
5. "TCC" means the Terms and Conditions of Contract contained in this secti
and
6. "The Project Site" means various Head Office/Branches/Administrative offi
IIFCL;
7. "RFP" shall mean Request for Proposal;
8. "Successful Bidder" means the bidder selected as the successful bidder by
accordance with this RFP who is also referred to as the "Concurrent Audit

Critical Information Summary

1) The RFP is published on IIFCL website www.iifcl.org, & Govt's e-procur

portal. IIFCL reserves the right to change the RFP requirements. Howev
changes will be posted on the web site.
2) Bidders are advised to study the tender document carefully. Submission
be deemed to have been done after careful study and examination of the
document with full understanding of its implications.
3) Last date for submission of proposal/Bid in response to this RFP: 18th
2019 [04.00 p.m.].
4) Any clarifications/queries from Bidder resulting in any change in requ
be posted on IIFCL website. Hence, before submitting Bids, Bidder must
such clarifications / changes have been considered by them. IIFCL will
 responsibility in case some omission is done by any Bidder. Last date
of any clarifications/queries regarding RFP: 18th October 2019 (04.00
5) In case of any clarification and queries required by IIFCL to assist i
examination, evaluation and comparison of Bids, IIFCL may, at its disc
the Bidder for such clarification/query. The response / clarification
writing and no change in the price of substance of the Bid shall be so
permitted.
6) Proposal must be submitted before the last date. Fax/e-mailed copies o
will not be accepted and would be rejected by IIFCL.
7) Please note that all the information is required to be submitted in ac
this RFP and in compliance with the Applicable Laws. Incomplete inform
these areas may lead to non-selection/rejection.
8) Modification And/ Or Withdrawal of Bids:
Bids once submitted will be treated as final and no further correspond
entertained. No Bid shall be modified after the deadline for submissio
Bidder shall be allowed to withdraw the bid, if bidder happens to be t
Bidder.
9) IIFCL has the right to reject at its sole discretion any or all tender
during this bidding process without assigning any reason whatsoever.
10) IIFCL reserves the right to amend, rescind or reissue this RFP and all
will be advised to the Bidders and such amendments will be binding on
11) The information provided by the Bidders in response to RFP will become
property of IIFCL and will not be returned.

NOTE:

IIFCL SHALL NOT BE RESPONSIBLE FOR NON-RECEIPT / NON-DELIVERY OF

THE BID DOCUMENTS DUE TO ANY REASON, WHATSOEVER.

Index
Sr. No. Particulars Pg No.

1 Tender Details 8-9

2 Introduction

2.1 About IIFCL 10

2.2 Purpose of RFP 10

3 Scope of Work 10.11

4 Tender Methodology 11-12

5 Technical Bid

5.1 Eligibility Criteria 12

5.2 Technical Evaluation 12-13

6 Financial Bid

6.1 Financial Evaluation 14

6.2 Techno Financial Evaluation 14

7. Report Submission/Deliverables 14-15

8 Fees /compensation

8.1 Professional fees 15

8.2 Payments 16

8.3 Performance Guarantee 16

9. Tenure of Contract 16-17

10 Terms & Conditions 17-18

10.1 Penalties 18-19

10.2 Confidentiality & Indemnity 19

10.3 Signing of Integrity Pact by Bidder & IIFCL 20

10.4 Submission of Certificate cum Declaration of No 20

Conflict of Interest

Page 6 of 49
11. Disclaimers 20.22

12 Annexures 26 Onwards

I. Verticals/Departments of IIFCL
II Indemnity & Confidentiality Declaration

III Technical Bid Covering Letter

III A Bidder Details

III B Eligibility Fulfillment Checklist

III C Integrity Pact

III D Certificate cum declaration of No Conflict of Interest

III E Bidder Bank details Form (for refund of EMD)

IV Financial Bid Letter

V Performance Guarantee

1 Tender/Bid Details

Sr. Tender No IIFCL/IAD/Proc/2019-20/03 Dated 3rd October 2019

No.
1 Name of the Assignment Concurrent Auditor for conducting Con
of IIFCL.

2 Cost of Tender to IIFCL Rs. 2,000/- (Rupees Two Thousand Only

refundable)

3. EMD Rs.10,000/- (Rupees Ten Thousand Only

4. Submission of Tender Fee & Account Name India Infrastructure Finance

EMD Amount (Total Rs. 12,000/- Company Limited
)(Rupees Twelve Thousand) Bank IDBI Bank
A/c No. 011102000073352
IFSC IBKL0000011

UTR No. to be mentioned in the Bid mand

5. Refund of EMD The EMD of unsuccessful Bidders will be
without any interest within 30 (thirty)
announcement of successful Bidder on II
website.
EMD of Successful Bidder will be kept a
performance security & the amount would
reduced from the performance guarantee
be submitted.
6. Submission of Performance The Successful Bidder on receipt of a l
 Guarantee appointment from IIFCL shall furnish a
guarantee, by way of performance securi
equivalent to 10% (ten per cent) of the
value/bid value, within 15 (fifteen) da
notification of award. The amount of EM
reduced from the performance guarantee
aforementioned in Point No. 5
7. Publishing Of Tender Documents IIFCL website (www.iifcl.org)
Central Public Procuremen
(www.eprocure.gov.in)
Tender Wizard (www. tenderwizard.com)
8. E- Proposal Submission At Tender Wizard www.tenderwizard.co

Bids not submitted through e tender p

be summarily rejected. No communicati
regard shall be entertained. Hard cop
version will not be accepted.
9. Tender Wizard Portal Fee Tender Wizard Fee is to be paid as ap
10. E-Proposal Submission Support Mr. Sachin, Mob- 9555926408

Mail- helpline4tenderwizard@gmail.
Mr. Pushpraj, Mob- 7503347659
Mail- helpline14tenderwizard@gmail.

11. Language Proposals should be submitted in En

11. Bid Validity Proposals must remain valid for eva

(One Hundred & Eighty) days from th
Submission of the Bid.

12. Currency Currency in which the Applicants ma

price and will receive payment is I

13. Last date for receipt of written 18th October 2019 04.00 p.m.
queries for clarification from
Bidders

14. Last Date of Submission of Bids 18th November 2019 ( 04.00 p.m.).

15.. Venue, Date and Time of opening At 11.00 A.M., on the next working day
of Technical Bids of bid submission, at IIFCL Corporate o

16. Pre-bid meeting No

17.. Venue, Date and Time of opening The financial bids of only those Bidder
of Financial Bids the technical bid will be opened. The d
time will be communicated to such techn
qualified bidders for further evaluatio

18. Contact Persons

Name & Designation Phone Email

Mrs. Indu Malhotra (M) 011-24662713 [email protected]

Mrs. Sonu Sharma(M) 011-24662682 Sonu.sharma@iifcl

Note:
1 IIFCL reserves the right to change the abovementioned dates without a
reasons thereof. Intimation of the same shall be notified on IIFCL's
2 This RFP is non- transferable.
3 If a holiday is declared on the dates mentioned above, the proposals
received / opened on the next working day at the same time specified
the same venue unless communicated otherwise.

2 Introduction

2.1 About IIFCL

IIFCL is a Government of India company set up in the year 2006 to provide long
finance to viable infrastructure projects through the Scheme for Financing Via
Infrastructure Projects through a Special Purpose Vehicle called India Infrast
Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

IIFCL is engaged in providing long term financial assistance to commercially v

infrastructure projects with overriding priority to Public Private Partnership
The sectors eligible for financial assistance from IIFCL are as per the Harmon
Infrastructure Sub-Sectors as approved by the Government and RBI and as amende
time to time. These broadly include transportation, energy, water, sanitation,
communication, social and commercial infrastructure. IIFCL has been registered
NBFC-ND-SI-IFC with RBI since September 2013.

For further details about IIFCL, bidders may visit IIFCL website (www.iifcl.or

2.2 Purpose of RFP

The purpose of RFP is to shortlist experienced professional firm/Limited Liabi

Partnership (LLP) of Chartered Accountants, for appointment of Concurrent Audi
undertaking Concurrent Audit of IIFCL for FY 2019-20.

3. Scope of Work
The responsibilities of the shortlisted audit firm will include as follows:

1. Regular, systematic and timely examination/auditing of all financial tra

IIFCL within a period of 5 (five) days of its occurrence with an emphasi
accuracy, authenticity, compliance with procedures and guidelines and co
replication in the SAP System. The verification of all the financial tra
start from the FY 2019-20 i.e. starting from 1st April 2019 till 31st Ma
shortlisted firm has to plan the audit in such a way that all financial
1st April 2019 are covered under the audit and simultaneously the ongoin
transactions, from the date of commencement of the assignment by the fir
checked in near real time basis i.e. within a period of 5 (five) days of
of the transactions. Concurrent audit of transactions occurring between
and the date of commencement of the assignment shall be completed within
days of commencement of the assignment.

2. Preparation of check lists for smooth conduct of the concurrent aud

extant circulars, guidelines, Policies, Manuals and on brief discuss
concerned departments to understand the process flow of financial tr
checklist should be exhaustive in nature covering all probable areas
transactions. A list of departments of IIFCL is attached at Annexure
3. To verify/vouch and confirm the transactions to a reasonable level a
compliance as to whether the transactions are booked under proper he
and certify that the accounting entry passed in SAP system is flowin
ledgers/sub-ledgers /sub accounts/ as per the accounting procedure a
properly in financial statements. Any unusual item/matter, on which
clarifications could not be given by the Departments, to be indicate
4. To verify and confirm compliance with all applicable guidelines/poli
rules and circulars along with all statutory guidelines/instructions
regulators like Reserve Bank of India (RBI), Government of India (Go
concerned authorities, in respect of the flow of transaction data.
5. To comment on fraud, misappropriation of funds, income leakage and a
serious irregularities detected which results in loss to IIFCL.
6. To comment on the overall risks involved and suggest corrective acti
mitigation of the same along with the report on
a) Risk Category-High, Medium or Low,
b) Risk Probability Frequency of occurrence of Risk (i.e., in H
Low
c) Risk Impact: Impact of risk on Business Objectives (i.e., in
Low).
d) Risk Trend: Whether Risk are showing a Stable, Increasing or
e) General Statement on Risk: This would contain the general co
observations made/ aberrations found / risk ratings.

4.0 Tender Methodology

 i. The tender methodology adopted is "Two Bid System" i.e., Technical B
Financial Bid.
ii. The technical bid consists of all technical details along with comme
conditions.
iii. The financial bid contains all the relevant price information and sh
with the technical bid.
iv. No Bidder shall submit more than one bid/ application for the assign
v. The Bidder shall bear all the costs associated with the preparation
the Bid and IIFCL will in no case be responsible or liable for those
the conduct or the outcome of the tendering process.
vi. Bids submitted without EMD will not be considered for evaluation.
vii. Bids sent by fax or e-mail will not be considered for evaluation.
viii. Procurement Policy on Micro and Small Enterprises (MSEs):
1) IIFCL follows the Public Procurement Policy for Micro and Small Ent
(MSEs) as circulated by the Ministry of MSME, GoI.
2) The MSEs under the above provisions would be entitled for exemption
furnishing tender fee and earnest money deposit (EMD).

3) Agencies/ Bidders desirous of availing exemptions/ preference under

provisions should submit a copy of proof of registration as per the p
above policy.

5.0 Technical Bid

Entities meeting the eligibility criteria as described in the following sectio

considered for evaluation. IIFCL reserves the right to change or relax the eli
to ensure inclusivity.

5.1 Eligibility Criteria

Pre-requisites - The Bidder should

(i) Be a partnership firm of Chartered Accountants with minimum 5 (five) par

which at least 3 (three) partners should be FCA(s). The details of each
including experience, qualification etc., and their Registration Number
of Chartered Accountants of India (ICAI) to be furnished as documentary
(ii) Be registered with ICAI. (Furnish proof of valid registration/ Certificat
from the Institute of chartered Accountants of India (ICAI).
(iii) At least 2 (two) partners should have a continuous association with the
minimum of 3 (three) years.
(iv) Must have successfully completed at least 3 (three) Audit assignments in
environment in the last 7 (seven) years.
(v) Must have office in Delhi/NCR.

Without compliance of the above pre-requisites, the Bidder will not be eligibl
applying.

5.2 Technical Evaluation

RFP Description Allocation of Mark

Ref.
No.
A. PAST EXPERIENCE
1. Year of establishment of Chartered
Accountant firm/Limited Liability Upto 5 years 0
Partnership (LLP) of Chartered Accountants.
5 to 15 years 0
(Registration Certificate to be submitted as a
documentary proof) More than 15 10 m
years
2. Must have successfully completed at least 3 No. of Ass
Audit assignments in SAP environment in conducted in
the last 7 years environment
(Work Completion Certificate from the 7 30Marks

client to be submitted) 5 20 Marks

3 15 Marks

3. Must have successfully completed at least 3 No. of Concurrent Aud

 concurrent Audit assignments in Assignments
Public/Private Sector banks/Financial 7 20Marks
Institutions in the last 7 years 5 15 Marks
3 10 Marks
(Work Completion Certificate from the
client to be submitted)
B QUALIFICATION & EXPERIENCE OF
KEY STAFF
1. No. of FCA Partners/Employee 3 5 Marks

One Additional mark

for each FCA Partner/
Employee, subject to
maxi um of 10 marks
2. At least two partners should have a 3 years 5 ma
continuous association with the firm of a continuation
minimum of 3 years.
5 to 7 years 7 ma
continuation

More than 7 10
years mar
continuation
3. An Insolvency Professional certified by IBBI 5 marks
deputed for the assignment shall be given 5
marks
C. FINANCIAL STRENGTH
1. Must have been profitable in last 2 Profitable in last 4 years
out of 4 years (Provide copy of = 4 years 10 marks
ITR filed) 3 years 8 marks
2 year 5 marks
D. OTHER REQUIREMENTS
1. The firm/ LLP should be empaneled with
RBI

Total Marks

Note: Documentary evidence to be provided in support of the above criteria. Pr

of bidders who do not fulfill the above criteria or who fail to submit documen
evidence thereon would be rejected.

6.0 Financial Bid

The Financial Bid should contain the Total Fee inclusive of all fees & expense
out of pocket expenses. The price quoted excludes taxes, duties & statutory le
Goods & Service Tax etc. IIFCL will neither provide nor reimburse expenditure
type of accommodation, travel ticket, airfares, train fares, halting expenses,
lodging, boarding etc. The format for the financial bid is given at Annexure I

6.1 Financial Evaluation

The financial Bids for short listed technically qualified Bidders after techni
will be opened. Evaluation process as decided by IIFCL will be binding to the
IIFCL in its sole/absolute discretion can apply whatever criteria deemed appro
determining the responsiveness of the proposal submitted by the Bidders. IIFCL
any/all proposal(s) at any stage without assigning any reason thereof.

6.2 Techno Financial Evaluation

Score(s) will be calculated for all technically qualified Bidders using the fo

(Minimum Financial Quote/Quoted price) x 30% + (Technical Score/Highest Techni

Score) x 70% (Technical will carry 70% weightage and Financial will carry weig
30%)
Highest scores so obtained using the above method shall be declared L-1.

The proposals will be finally ranked according to their combined technical sco
Financial Score as follows:

S =ST x Tw + SF x Fw

Where S is the combined score, and Tw and Fw are weights assigned to technical
and financial proposal that shall be 0.70 and 0.30 respectively. ST and SF wil
for individual bidders, as per description mentioned above.

Bidder with the highest final score will be considered for award of the assign

7.0 Report Submission/Deliverables

The Successful Bidder has to submit its reports as under:-

a. Submission of checklists within 15 (fifteen) days of taking up the assig

checklists prepared by the shortlisted Firm must be exhaustive in nature
the approval of the competent authority/internal auditor of IIFCL.

b. Monthly report for FY 2019-20 on financial transactions within 7 (seven

of each month starting from the month of appointment of the Chartered Ac
firm and compliance report in next 5 (five) days. However, the submissio
monthly report can be decided mutually between the shortlisted bidder an
Audit Department of IIFCL.
c. Report on the concurrent audit of the pre-assignment period (i.e. from 1
till the period not covered under Point No. b above) Within 60 days of
assignment.
d. For all the aforementioned reports compliance audit report is to be subm
incorporating the department reply and final status of the observations.
compliance report for all the transactions is to be submitted on or befo
2020. The compliance report to segregate compliances done and pending co
observations along with name of department and count of observations wit
of low, medium and high risk category.

8.0 FEES /COMPENSATION

8.1 Professional Fees

Invoices would be accepted only against submission of valid audit repor

under Para "Deliverables"- Point No. 7.0 above.

1. The payment of invoices will be made against accepted invoices as under

a) 10% against submission of checklists as mentioned at Point no. 7(a)

b) 20% on completion of audit of all transaction of audit period agains
of all reports and as mentioned at Point No. 7(b) above.
c) 50% against submission of all reports as mentioned at Point No. 7(c)
d) 10% of the Bid invoice amount will be made on acceptance & report fi
of the entire scope of work including presentation to the screening
and senior management.
e) 10% will be released on receipt of post audit compliance review repo
presentation to the Audit Committee of Board by the Bidder.

2. TDS will be deducted at source for any payment made by IIFCL, as per ap
provisions of Income Tax Act, 1961 / Rules.

3. All payments under this RFP shall be made to the Bidder alone and the c
all payments shall be in Indian Rupees subject to any statutory deducti
(TDS etc.).

4. All duties and taxes (excluding service tax, value added taxes or other
any, which may be levied, shall be borne by the Bidder/and IIFCL shall
for the same.
 5. All expenses, stamp duty and other charges/ expenses in connection wit
of this RFP shall be borne by Bidder.

8.2 Payments

IIFCL will pay against properly submitted valid invoices within reasona
but not exceeding thirty (30) days after its receipt thereof. All payme
made in Indian Rupees.
IIFCL may withhold payment of any charges that it disputes in good fait
set-off penalty amount and any other amount which Bidder owes to IIFCL
charges payable to Bidder under this RFP.
No payment will be released until the audit reports are submitted as pe
requirement of IIFCL. Format of Audit Report to be finalized by the sel
with the approval of the Competent Authority of IIFCL.

8.3 Performance Guarantee

a. The Successful Bidder on receipt of a letter of intent from IIFCL shall

guarantee, by way of performance security, equivalent to 10% (ten per c
total contract value/bid value less the amount of EMD, within 15 (fifte
notification of award, unless specified to the contrary. In case the Su
fails to submit performance guarantee within the time stipulated, IIFCL
sole discretion cancel the letter of intent without giving any notice a
furnished by the Bidder, in addition to any other right available to it
The performance guarantee furnished by the Successful Bidder shall be i
manner as prescribed (Annexure VI) by IIFCL.
b. The initial performance guarantee to be submitted should be for a minim
of 1 (one) year.

c. The Successful Bidder shall ensure, the performance guarantee is valid

during the term of the contract and for a period of 60 (sixty) days bey
contractual obligations and the performance guarantee as submitted be r
suitably to this effect.

9.0 Tenure of the contract:

The Successful Bidder shall enter into a Contract and the Contract would initi
assigned for a period of one financial year upto March 31, 2020 extendable for
(two) more years (extended for 1 (one) year, at a time), provided the performa
be satisfactory on review and on sole discretion of IIFCL. The proposed assign
be subject to periodical review at the discretion of IIFCL and is liable to be
any time, if not found satisfactory, by giving a written notice of 15 (fifteen

The acceptance of Bid, will be communicated in writing to the Successful Bidde

of offer of contract/ letter of appointment at the address given by the Bidder

process. The offer of contract/ letter of appointment needs to be accepted un

and such accepted letter shall be delivered by the Bidder in writing within 7
from the date of issue of the offer. The failure, delay or evasion by the Succ
accept the offer will result in cancellation of the offer and IIFCL retain its
to the next highest Bidder.

On acceptance of the offer, the Successful Bidder has to submit the performanc
for an amount equivalent to 20% (twenty percent) of the order within 15 (fifte
for 1 (one) year from the date of acceptance which may be extended with mutual
consultation. The format of performance guarantee is provided in Annexure VI.

10. Terms & Conditions

1. The Bidder shall ensure that the audit be carried out in a professional
case of any misconduct & negligence, IIFCL may approach the concerned pr
 bodies with complaints of professional misconduct, if any, on the part o
professional engaged by IIFCL Accordingly, IIFCL may also recommend thei
to ICAI/ RBI/ IBA or any other authority, for suitable action thereon by
2. The Bidder shall ensure that it will not sub-contract the audit work ass
outside firm/ LLP or other persons even though such persons are qualifie
Accountants.
3. The Bidder appointed as Concurrent Auditor in IIFCL should nominate a Ch
Accountant (CA) who has worked for atleast 3 years with the qualifying f
will head the concurrent audit team as the "Designated Auditor" duly aut
the FCA partner of the CA firm/ LLP to act on behalf of the firm. The De
Auditor would be required to submit his/ her identity proof and address
with specimen signatures with a request to be allotted unique login ID f
system. The Designated Auditor would require to login and log-out of the
each working day. The Designated Auditor would require to surrender the
completion of the concurrent audit tenure or on any change in the Design
by the firm/ LLP.
4. The audit team composition for Concurrent Audit and attendance requireme
specified as under :-

a) The FCA partner of the firm/ LLP shall visit IIFCL at least once a we
b) At least two Chartered Accountants, one of whom is a Designated Audit
visit IIFCL mandatorily on all working days. The designated Auditor has
his/her team members to enable IIFCL to make necessary arrangements for
in IIFCL premises.
5. The Concurrent Auditor should adhere to the audit coverage strictly as p
and has to formulate his/her team in such a way so as to complete the au
timely manner.
6. The Concurrent Auditor will co-operate with investigative body, regardin
or execution of the consultancy contract or any matter related with disc
contractual obligations.

7. Necessary arrangements would be made by IIFCL for providing space, wo

and access to systems (viewing rights only) to the concurrent auditor
smooth conduct of the audit.
8. The concurrent auditor shall not be allowed to carry any mass storage
pen drive/ flash drive/ thumb drive or any laptop inside IIFCL premise
devices will not be required for the job.
9. Concurrent Auditor shall be provided with computer system with disable
by IIFCL.
10. The Concurrent Auditor is required to plan the audit in such a way tha
gradual shortening of the interval between a transaction and its exami
independent person but in no case the interval should increase by 5 (f
occurrence of the transaction.
11. The Concurrent Auditor shall perform substantive checking in key areas
should be on ,,on the spot rectification of deficiencies.
12. The Concurrent Auditor shall daily go through all the vouchers and boo
accounts in SAP for the previous day and identify areas to be scrutini
13. Should maintain and keep back up papers in support of observations mad
14. The Concurrent Auditor has to verify the following:
To verify and confirm that KYC / AML / CFT / Fair Practices Code fram
approved by the Board of Directors, based on the guidelines issued
Regulator for NBFCs are met with. Any aberration to be specifically
Auditors to verify and make specific comments on non-compliance of gu
instructions of regulatory bodies i.e. RBI / SEBI / Tax Department
etc.
Auditors to comment on major lapse / irregularity / misappropriation
noticed by them, causing loss to the organization.
Auditors to verify/comment on operating effectiveness of Internal Con
Department.
15. Any other terms and conditions of the assignment as would be decided
a case to case basis.

10.1 Penalties

a. IIFCL may impose penalty, in case of delay of any deliverables at the

(zero point five percent) of the total project cost per week delay, e
completion of audit exercises or submission of final draft report, su
 maximum of 10% (ten percent) of the total cost, for all delays attrib
the Bidder.

b. IIFCL may invoke the performance guarantee in the event of a material

successful Bidder leading to termination for material breach.

c. If at any time during performance of the Contract, the Selected Bidde

encounter unexpected conditions impeding timely completion of the Ser
the agreement and performance of the services, the Bidder shall promp
IIFCL in writing of the fact of the delay, its likely duration and it
as practicable, after receipt of the Bidders notice, IIFCL shall eval

and may at its sole discretion extend the Bidders time for performance
case the extension shall be ratified by the parties.

d. Performance of the obligations under this RFP and the Contract shall be
Bidder in accordance with the time schedule specified in this RFP.

e. No penalty shall be levied in case of delay(s) in deliverables or perfor

contract for the reasons not attributable to the Bidder. On reaching the
penalties specified the Company reserves the right to terminate the cont
any notice thereof and upon termination, no fee shall be payable for the
performed prior to the delay in deliverables and performance.

10.2 Confidentiality & Indemnity

The Bidder shall keep information related to IIFCL confidential and wil
to outside agencies without written consent from IIFCL.
The Bidder upon selection shall sign the declaration as given in the An
before commencement of the audit.
The Bidder must submit an undertaking that the firm/ LLP does not have
professional relationship with any of the borrowers of IIFCL nor will i
accept professional relationship with any of the borrowers of IIFCL dur
during which the firm/ LLP acts as the concurrent auditor for IIFCL.
The Bidder shall indemnify IIFCL, and shall always keep indemnified and
IIFCL, its employees, personnel, officers, directors, harmless from and
and all losses, liabilities, claims, actions, costs and expenses (inclu
fees) relating to, resulting directly or indirectly from or in any way
claim, suit or proceeding brought against the Bank as a result of:
· IIFCLs authorized/ bona fide use of the deliverables and /or the serv
by the Firm under this RFP; and/or
· an act or omission of the Bidder and/or its employees, in performance
obligations under this RFP; and/or
· claims made by employees who are deployed by the applicant, against I
and/or
claims arising out of employment, non-payment of remuneration and non-p
of statutory benefits by the Bidder to its employees
· breach of any of the term of this RFP or breach of any representation
representation or inaccurate statement or assurance or covenant or warr
Bidder under this RFP; and/or
· any or all deliverables or services infringing any patent, trade mark
such other intellectual property rights; and/or
· breach of confidentiality obligations of the Bidder contained in this
· Negligence or gross misconduct attributable to the Bidder or its empl

10.3 Signing of Integrity Pact by Bidder & IIFCL

The Bidder has to sign the Integrity Pact and submit a copy of the same
Technical Bid. Format of the Integrity Pact is attached at Annexure III

10.4 Submission of Certificate cum Declaration of No Conflict of Interest

The Bidder has to sign a declaration of no conflict of interest and sub

same along with technical bid. Format of the same is attached at Annexu

11.0 Disclaimers
11.1 Costs to be borne by Bidders

All costs and expenses incurred by Bidders in any way associated with t
development, preparation and submission of responses including but not
attendance at meetings, discussions, demonstrations, etc. and providing
information required by IIFCL will be borne entirely and exclusively by

11.2 No Legal Relationship

No binding commercial relationship will exist between any of the Bidder

until execution of a contractual agreement.

11.3 Bidder Obligation to Inform Itself

The Bidders must conduct its own investigation and analysis regarding a
information contained in the RFP document and the meaning and impact of
information.

11.4 Evaluation of Offers

Each Bidder acknowledges and accepts that IIFCL may in its absolute dis
selection criteria specified in the document for evaluation of proposal
/ selecting the eligible Bidder(s). The RFP document will not form part
or arrangement, which may result from the issue of this document or any
or review, carried out by a Bidder.

11.5 Errors and Omissions

Each Bidder should notify IIFCL of any error, omission, or discrepancy fo

RFP document.

11.6 Acceptance of Terms

A Bidder will, by responding to IIFCL for RFP, be deemed to have accepted

of this RFP.

11.7 RFP submission

Copies of the RFP must be submitted before the aforementioned closing dat
mentioned in the "Critical Information Summary" herein above.

Faxed copies/copies sent through e-mail of any submission are not accepta
will be rejected by the Company.

All submissions, including any accompanying documents, will become the pr

IIFCL. Bidders shall be deemed to license, and grant all rights to IIFCL
the whole or any portion of their submission for the purpose of evaluatio
the contents of the submission to other Bidders and to disclose and/or us
of the submission as the basis for processing of RFP, notwithstanding any
other intellectual property right that may subsist in the submission or a
documents.

11.8 Communication by Bidders

IIFCL will not answer any communication initiated by Bidders later than 1
business days prior to the due date for submission of this RFP. However,
in its absolute discretion, seek additional information or material from
after the RFP closes and all such information and material provided must
form part of that Bidders response.

Bidders should provide details of their fax, e-mail and full address(s) t
replies to RFP could be conveyed promptly.

If IIFCL, in its absolute discretion, deems that the originator of the qu

an advantage by a response to a question, then IIFCL reserves the right t
 communicate such response to all Bidders.

IIFCL may, in its absolute discretion, engage in discussion or negotiatio

Bidder (or simultaneously with more than one Bidder) after the RFP closes
or clarify any response.

11.9 Notification

IIFCL will notify all short-listed Bidders in writing as soon as practica

outcome of this RFP. IIFCL is not obliged to provide any reasons for any
acceptance or rejection.

11.10 Disqualification

Any form of canvassing/lobbying/influence/query regarding short listing,

will be a disqualification.

11.11 Right to Reject Bids

IIFCL reserves the absolute and unconditional right to reject the Bid if
accordance with the requirements of this RFP and no correspondence will b
entertained by IIFCL in the matter.

12 General Terms and Conditions:

(These terms and conditions are generic in nature, which have been mentioned f
knowledge of the Bidder and may be changed to specific terms and conditions wi
necessary changes with each work order as and when applicable).

I Use of Contract Documents and Information

The Bidder shall not, without IIFCLs prior written consent, disclose the Contr
any provision thereof, or any specification, plan, drawing, pattern, sample or
website contents, applications furnished by or on behalf of IIFCL in connectio
any person other than a person employed by the Supplier in the performance of
Disclosure to any such employed person shall be made in confidence and shall e
so far as may be necessary for purposes of such performance. The Bidder will t
confidential all data and information about the Bank, obtained in the executio
responsibilities, in strict confidence and will not reveal such information to
without the prior written approval of the Company.

II Governing Language

The Contract shall be written in English. All correspondence and other documen
to the Contract, which are exchanged by the parties, shall be written in Engli
technical documentation involving detailed instruction for operation and maint
manual etc. is to be delivered with every unit of the equipment supplied. The
documentation should be English.

III Commercial Terms

All Payments will be made to the Bidder in Indian rupee only. The Bidder must
payment terms proposed by the Company. The financial bid submitted by the Bidd
be in conformity with the payment terms proposed by IIFCL. Any deviation from
proposed payment terms would not be accepted. IIFCL shall have the right to wi
payment due to the Bidder, in case of delays or defaults on the part of the Bi
withholding of payment shall not amount to a default on the part of IIFCL. Onc
price is arrived at, the same must remain firm and must not be subject to esca
the performance of the contract due to fluctuation in foreign currency, change
structure, changes in costs related to the materials and labour or other compo
other reason.
IV Applicable Laws

The Contract shall be interpreted in accordance with the laws prevalent in Ind

Compliance with all applicable laws: The Bidder shall undertake to observe, ad
abide by, comply with and notify IIFCL about all prevailing laws in force or a
made applicable in future, pertaining to or applicable to them, their business
employees or their obligations towards them and all purposes of this RFP and s
indemnify, keep indemnified, hold harmless, defend and protect IIFCL and its e
officers/ staff/ personnel/ representatives/agents from any failure or omissio
do so and against all claims or demands of liability and all consequences that
arise for any default or failure on its part to conform or comply with the abo
statutory obligations arising therefrom.

Compliance in obtaining approvals/ permissions/ licenses: The Bidder shall pro

timely obtain all such consents, permissions, approvals, licenses, etc., as ma
or required for any of the purposes of this project or for the conduct of thei
under any applicable law, Government Regulation/Guidelines and shall keep the
and in force during the term of the project, and in the event of any failure o
so, shall indemnify, keep indemnified, hold harmless, defend, protect and full
IIFCL and its employees/ officers/ staff/ personnel/ representatives/agents fr
all claims or demands of liability and all consequences that may occur or aris
default or failure on its part to conform or comply with the above and all oth
obligations arising therefrom and the Bank will give notice of any such claim
liability within reasonable time to the Bidder.

V Patent Rights

In the event of any claim asserted by a third party of infringement of copyrig

trademark, industrial design rights, etc. arising from the use of the Goods or
in India, the Bidder shall act expeditiously to extinguish such claim. If the
comply IIFCL is required to pay compensation to a third party resulting from s
infringement, the Bidder shall be responsible for the compensation including a

court costs and lawyer fees. IIFCL will give notice to the Bidder of such cla
without delay.

VI Force Majeure

If the performance as specified in this order is prevented, restricted, delaye

reason of fire, explosion, cyclone, floods, war, revolution, acts of public en
or embargo, any law, order, proclamation, ordinance, demand or requirements of
government or authority or representative of any such government including res
practices or regulations, strikes, shutdowns or labour disputes which are not
the purpose of avoiding obligations herein, or any other circumstances beyond
the party affected, then notwithstanding anything here before contained, the p
shall be excused from its performance to the extent such performance relates t
restriction, delay or interference and provided the party so affected uses its
remove such cause of non-performance and when removed the party shall continue
performance with utmost dispatch. If a Force Majeure situation arises, the Bid
promptly notify IIFCL in writing of such condition, the cause thereof and the
necessitated due to the conditions. Until and unless otherwise directed by IIF
the Bidder shall continue to perform its obligations under the Contract as far
practical, and shall seek all reasonable alternative means for performance not
the Force Majeure event.

For purposes of this Clause, "Force Majeure" means an event explicitly beyond
reasonable control of the Firm and not involving the Firms fault or negligence
foreseeable. Such events are Acts of God or of public enemy, acts of Governmen
their sovereign capacity, strikes, political disruptions, bandhs, riots, civil
acts of war.

VII Forfeiture

The bid security i.e. EMD may be forfeited:

1. if a Bidder withdraws its bid during the period of bid validity specif
on the application for the Bid; Or
 2. if the successful Bidder fails to accept the order / sign the Contract
3. if the Successful Bidder fails to furnish Performance Guarantee valid
on singing of the Contract.

VIII Termination

IIFCL may at any time terminate any subsequent agreement /contract by giving w
notice to the Bidder, if the Bidder becomes bankrupt or otherwise insolvent. I
termination will not prejudice or affect any right of action or remedy, which
will accrue thereafter to IIFCL. IIFCL reserves the right to cancel any subseq
agreement / contract in the event of happening one or more of the following co
1. Failure of the Successful Bidder to accept the Contract; or
2. Delay in offering services; or

3. Delay in completing the project/submission of reports.

In case of termination, IIFCL will not pay any fee for the work performed or d

In addition to the cancellation of any subsequent agreement /contract, IIFCL r

right to appropriate the damages through encashment of EMD / Performance Guara
given by the Bidder.

IX Resolution of Disputes

IIFCL and the selected Bidder shall make every effort to resolve amicably, by
informal negotiation between the respective project managers of IIFCL and the
disagreement or dispute arising between them under or in connection with the c

All questions, disputes or differences arising under and out of, or in connect
contract or carrying out of the work whether during the progress of the work o
completion and whether before or after the determination, abandonment or breac
contract shall be referred to arbitration by a sole arbitrator acceptable to b
number of arbitrators shall be three, with each side to the dispute being enti
one arbitrator. The two arbitrators appointed by the parties shall appoint a t
who shall act as the chairman of the proceedings. Arbitration shall be held in
India and conducted in accordance with the provision of Arbitration and Concil
1996. The arbitration proceedings shall be conducted in English language.

The arbitral award shall be in writing, state the reasons for the award, and b
binding on the parties. The award may include an award of costs, including rea
attorneys fees and disbursements. Judgment upon the award may be entered by an
having jurisdiction there of or having jurisdiction in New Delhi.

Not-withstanding anything contained above, in case of dispute, claim & legal a

out of the contract, the parties shall be subject to the exclusive jurisdictio
Delhi, India only. Any notice given by one party to the other pursuant to this
sent to the other party in writing and confirmed in writing to the other party
address. The same has to be acknowledged by the receiver in writing. A notice
effective when delivered or on the notices effective date, whichever is later.

Annexure-I

VERTICALS/DEPARTMENTS OF IIFCL

1. Credit Department
2. Risk Department

3. Resource & Treasury Department

4. Accounts Department

5. Human Resource Department (HR)

6. Corporate Communicate
7. Information Technology (IT)

8. Legal Department

9. Corporate Social Responsibility

10. Corporate Planning Department

11. Multilateral and Environment & social Management Unit (ESMU)

12. Boar Secretariat & Compliance Department
13. Vigilance Department
14. MD Secretariat

Page 26 of 49

INDEMNITY & CONFIDENTIALITY DECLARATION TO BE SIGNED BY THE

BIDDER

(to be filled in by authorized signatory of the vendor / service provider whil

order)

In case of a limited company

I, Shri ____________________, son / daughter of Shri ___________________, aged

___ years, Indian inhabitant residing at ________________, do hereby solemnly
state as follows:

I am a Director/ the Managing Director / __________________ (designati

___________________ Ltd., a Company within the meaning of the Companies Act, 1
and having its Registered Office at ___________________ (hereinafter called "t
Company") and I am duly authorised by the Company to make this declaration for
behalf of the Company.

In case of a partnership firm.

We,

1. Shri ____________________, son / daughter of Shri _________________, ag

about ___ years, Indian inhabitant residing at _______________,

2. Shri ____________________, son / daughter of Shri_________________, aged

___years, Indian inhabitant residing at _______________,

3. Shri ____________________, son / daughter of Shri ___________________,

about ___ years, Indian inhabitant residing at _______________, the partners o
________________________ , a partnership firm carrying on its business at
__________________ (hereinafter referred to as "Firm") do hereby solemnly decl
state as follows:

We say that we are the partners of the firm.

In case of a proprietary concern.

I, Shri ___________________, son / daughter of Shri___________________, aged a

years, Indian inhabitant residing at ____________________ do hereby solemnly d
state as follows:

(i) I say that I carry on business in the name and style as M/s ______________
Sole Proprietary Concern at ____________________,

(ii) I / We will keep information related to IIFCL confidential and will not d
outside agency or person without written consent from IIFCL. This shall includ
access codes, pass phrases used by the personnel of my company. I / We will en
user ids / manuals / IIFCL related information in printed / soft form / hardwa

India Infrastructure
Request for Proposal (Rf

the personnel of my company shall be returned / handed over to the concerned p

IIFCL upon the completion of the task assigned to the company or as per the gu
issued by IIFCL
.
(iii) I / We shall also indemnify and keep IIFCL indemnified against all losse
costs, claims and expenses whatsoever which IIFCL may suffer, pay or incur by
in connection with any such default on the part of the ___________________. (E
/company).

Date Signature of Authorised .............................

Signatory

Place
Name of the Authorised .............................
Signatory

Designation - ..........................

Name of the Organisation - ..........................

Seal

India Infrastructure Fin

Request for Proposal (RfP)

TECHNICAL BID COVERING LETTER

To
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Tower 2, 5th Floor
NBCC Centre, East Kidwai Nagar
Delhi 110 023

Invitation for conducting Concurrent Audit of IIFCL as per the scope of the co

Dear Sir/Madam

With reference to your Invitation dated.............., we, having examined all

documents and understood their contents, hereby submit our Proposal for conduc
Concurrent Audit of IIFCL as per the scope defined in the RFP. The proposal is
unconditional and unqualified.
Earnest Money Deposit (EMD): We have enclosed a Demand Draft / bankers c
of the sum of Rs.10,000/- (Rupees Ten Thousand only) towards EMD. This E
liable to be forfeited in accordance with the provisions mentioned in th
We agree to keep this offer valid for 180 (one hundred 80) days from the
submitting the proposal specified in the Invitation.
We agree to undertake the project, if allotted by you, as per the scope
of reference).
We agree and undertake to abide by all the terms and conditions of the I
submit this Proposal under and in accordance with the terms of the Invit
We have not made any misleading or false representations in the forms, s
and attachments submitted
We certify that we fulfil the eligibility criteria as mentioned in the I
 relevant documents for the same have been attached with this proposal.
We certify that we have not been black listed/debarred/ disqualified by
statutory body or Government entity or any International/National
agency/Private/public Bank for corrupt or fraudulent practices.
We are not declared as insolvent or any insolvency petition is pending a
any court.
No criminal proceedings is pending or has ended up in conviction against
including our directors/promoters/partners, in Court
We certify that we do not have an adverse litigation history.
We certify that we are not a related party to IIFCL as per Companies Act
amended from time to time.

India Infrastructure F
Request for Proposal (RfP

We understand and agree that IIFCL at its sole discretion and determinat
any other relevant criteria for evaluating the proposals received in res
Invitation and IIFCL has the right to accept or reject any or all applic
in response to the Invitation document at any stage without assigning an
thereof

You

(Signature, name and designation of the authorized signatory)

Date:
Place:

Attached
a) Valid Authority Letter to sign the documents
b) KYC documents as per RBI guidelines
c) Transfer of EMD and Cost of Tender to IIFCL- UTR No.
d) Bidder Details - Annexure III A
e) Eligibility Fulfilment Checklist Annexure III B
f) Signed Integrity Pact Annexure III C
g) Certificate cum declaration of no conflict of interes
h) Bank details form Annexure III E

India Infrastructure Fin

Request for Proposal (RfP)

FORMAT OF INFORMATION Bidder details (On the letter head of

the entity submitting the bid document)

Name of Entity
Brief description of the Bidder including details of its main line of busines
Web Site
Date of Establishment/Incorporation/Commencement of Business
Certificate of Incorporation
Goods & Service Tax Registration Number
Permanent Account Number
Particulars of the Authorized Signatory of the Bidder
o Name
o Designation
o Address
o Phone Number(Landline)
o Mobile Number
o Fax Number
o E-Mail Address
Provide Designated Auditor & Team names in a separate annexure. The bidder sh
provide CV of the Designated Auditor that demonstrated proved experience in e
projects similar in scope & complexity)
Details of Project Team members who will be assigned for conducting IIFCL Con
Audit

S.No Name Qualification Certifications Total experience

(years)
1
2
3
4
5
(Add additional rows as per requirement)

Number of Offices/establishments in various parts of the country

List of Concurrent Audit related assignments & other major assignments

S.No Name of the Address Assignment Contact Start

Client Details Details of Date(Mth/Yr)
the Client
1
2

India Infrastructur
Request for Proposal (

3
4

Contact Person Details:

Name :
E-mail :
Phone :

It is certified, to the best of my knowledge and belief, all the information p

correct.

Signature of Authorized person (in full and initials)

Name and Title of Signatory:

Note:

1. All the relevant details & documentary evidence are to be furnished.

2. Proposals of bidders who do not fulfill the above criteria and who fail
documentary evidence thereon would be rejected.

India Infrastructure
Request for Proposal (R
 ELIGIBILITY CRITERIA FOR TECHNICAL BID
Checklist for Bidders

To
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Tower 2, 5th Floor
NBCC Centre, East Kidwai Nagar
Delhi 110 023

With reference to RFP issued by IIFCL, for conducting Concurrent Audit, we sub
statement of fulfilment of eligibility criteria defined in this RFP as under :

1. Be a Partnership firm of Chartered Accountants with minimum 5 partners

least 3 partners should be FCA(s). The details of each partner includi
qualification etc., and their Registration Number with Institute of Ch
Accountants of India (ICAI) to be furnished as documentary proof. Yes/
2. Be registered with ICAI. (Furnish proof of valid registration/ Certifi
from the Institute of chartered Accountants of India (ICAI). Yes/No
3. At least two partners should have a continuous association with the fi
minimum of 3 years. Yes/No
4. Must have successfully completed at least 3 Audit assignments in SAP e
in the last 7 years. Yes/No
5. Must have office in Delhi/NCR. Yes/No

RFP Description Allocation Of Mar

Ref.
No.

A. PAST EXPERIENCE
1. Year of establishment of Chartered Accountant
firm/Limited Liability Partnership (LLP) of Upto 5 years
Chartered Accountants.
5 to 15 years
(Registration Certificate to be submitted as a
documentary proof) More than 15 10
years

2. Must have successfully completed at least 3 Audit No. of Assignment

assignments in SAP environment in the last 7 in SAP environmen
years 7 30Marks
(Work Completion Certificate from the client to 5 20 Marks
be submitted) 3 15 Marks

India Infrastructure
Request for Proposal (R

3. Must have successfully completed at least 3 No. of Concurrent

concurrent Audit assignments in Public/Private Assignments
Sector banks/Financial Institutions in the last 7 7 20Marks
years 5 15 Marks
3 10 Marks
(Work Completion Certificate from the client to
be submitted)
B QUALIFICATION & EXPERIENCE OF KEY
STAFF
1. No. of FCA Partners/Employee 3 5 Mar

One Additional
each FCA
Employee, subje
maxi um of 10 m
2. At least two partners should have a continuous 3 years
association with the firm of a minimum of 3 years. continuation
 5 to 7 years
continuation

More than 7
years
continuation
3. An Insolvency Professional certified by IBBI 5 marks
deputed for the assignment shall be given 5 marks
C. FINANCIAL STRENGTH
1. Must have been profitable in last 2 Profitable in las
out of 4 years (Provide copy of ITR = 4 years
filed) 3 years
2 year
D. OTHER REQUIREMENTS
1. The firm/ LLP should be empanelled with RBI

Total Marks

Documentary evidence must be furnished against each of the above criteria alon
index. All documents must be signed by the authorized signatory of the bidder.
portions, in the documents submitted in pursuance of eligibility criteria, sho
highlighted.

Signature

Seal of Entity
(Signature and seal of Bidder to be put on all pages of Annexure V & sub Annex

India Infrastru
Request for Propos

INTEGRITY PACT

Between

India Infrastructure Finance Company Limited (IIFCL) hereinafter referred to a

Principal "
And

.................................................hereinafter referred to as "T

Preamble

The Principal intends to award, under laid down organizational procedures, co

for............................................. The Principal values full co
of the land, rules, regulations, economic use of resources and of fairness/
transparency in its relations with its Bidder(s) and I or Contractor(s).

In order to achieve these goals, the Principal will appoint Independent Exter
(lEMs) who will monitor the tender process and the execution of the contract
compliance with the principles mentioned above.

Section 1 - Commitments of the Principal

1. The Principal commits itself to take all measures necessary to prevent cor
and to observe the following principles:-

i) No employee of the Principal, personally or through family members ,

connection with the tender for, or the execution of a contract, deman
 promise for or accept, for self or third person, any material or imma
which the person is not legally entitled to.

j) The Principal will, during the tender process treat all Bidder(s) wit
reason. The Principal will in particular, before and during the tende
provide to all Bidder(s) the same information and will not provide to
confidential/additional in information through which the Bidder(s) co
advantage in relation to the tender process or the contract execution

k) The Principal will exclude from the process all known prejudiced pers

2. If the Principal obtains information on the conduct of any of its employ

criminal offence under the IPC/PC Act, or if there be a substantive susp
regard, the Principal will inform the Chief Vigilance Officer and in add
initiate disciplinary actions.

India Infrastructure Fin

Request for Proposal (RfP)

Section 2 - Commitments of the Bidder(s)/ Contractor(s)

The Bidder(s)/Contractor(s) commit themselves to take all measures neces

prevent corruption. The Bidder(s)/ Contractor(s) commit themselves to ob
following principles during participation in the tender process and duri
contract execution.

1.1 The Bidder(s)/ Contractor(s) will not, directly or through any other
firm, offer, promise or give to any of the Principal's employees inv
tender process or the execution of the contract or to any third pers
material or other benefit which he/ she is not legally entitled to,
obtain in exchange any advantage of any kind whatsoever during the t
process or during the execution of the contract.

2. The Bidder(s)/ Contractor(s) will not enter with other Bidders into
undisclosed agreement or understanding, whether formal or informal.
applies in particular to prices, specifications, certifications, sub
submission or non-submission of bids or any other actions to restric
competitiveness or to introduce cartelisation in the bidding process

3. The Bidder(s)/ Contractor(s) will not commit any offence under the r
IPC/PC Act; further the Bidder(s)/ Contractor(s) will not use improp
purposes of competition or personal gain, or pass on to others, any
or document provided by the Principal as part of the business relati
regarding plans, technical proposals and business details, including
contained or transmitted electronically.

4. The Bidder(s)/Contractors(s) of foreign origin shall disclose the name

of the Agents/representatives in India, if any, similarly the
Bidder(s)/Contractors(s) of Indian Nationality shall furnish the name
address of the foreign principals, if any. Further details as desired
shall be disclosed by the Bidder(s)/Contractor(s).Further, all the pa
to the Indian agent/representative have to be in Indian Rupees only.

5. The Bidder(s)/ Contractor(s) will, when presenting their bid, disclose

all payments made, is committed to or intends to make to agents, brok
any other intermediaries in connection with the award of the contract

6. Bidder(s) /Contractor(s) who have signed the Integrity Pact shall not
Courts while representing the matter to IEMs and shall wait for their
the matter.

(2) The Bidder(s)/Contractor(s) will not instigate third persons to commit off
above or be an accessory to such offences.
 India Infrastructure Fi
Request for Proposal (RfP)

Section 3 - Disqualification from tender process and exclusion from fu

contracts
If the Bidder(s)/Contractor(s), before award or during execution has committ
transgression through a violation of Section 2, above or in any other form s
their reliability or credibility in question, the Principal is entitled to d
Bidder(s)/Contractor(s) from the tender process or take action as deemed fit

Section 4- Compensation for Damages

1. If the Principal has disqualified the Bidder(s) from the tender process
award according to Section 3, the Principal is entitled to demand and r
damages equivalent to Earnest Money Deposit.

2. If the Principal has terminated the contract according to Section 3, or

is entitled to terminate the contract according to Section 3, the Princ
entitled to demand and recover from the Contractor liquidated damages o
Contract value or the amount equivalent to Performance Bank Guarantee.

Section 5 - Previous transgression

a) The Bidder declares that no previous transgressions occurred in t

years with any other Company in any country conforming to the ant
approach or with any Public Sector Enterprise in India that could
exclusion from the tender process.

b) If the Bidder makes incorrect statement on this subject, he can b

from the tender process or action can be taken as per the procedu
"Guidelines on Banning of business dealings".

Section 6 - Equal treatment of all Bidders I Contractors I Subcontractors

In case of Sub-contracting, the Principal Contractor shall take the re

the adoption of Integrity Pact by the Sub-contractor.

The Principal will enter into agreements with identical conditions as t

Bidders and Contractors.

The Principal will disqualify from the tender process all bidders who d
Pact or violate its provisions.

Section 7 - Criminal charges against violating Bidder(s) / Contractor(s) /

Subcontractor(s)

If the Principal obtains knowledge of conduct of a Bidder, Contractor or Subco

an employee or a representative or an associate of a Bidder, Contractor or Sub
which constitutes corruption, or if the Principal has substantive suspicion in

India Infrastructure Fi
Request for Proposal (RfP)

Principal will inform the same to the Chief Vigilance Officer.

Section 8 - Independent External Monitor

(1) The Principal appoints competent and credible Independent External Monit
this Pact after approval by Central Vigilance Commission. The task of t
to review independently and objectively, whether and to what extent the
comply with the obligations under this RFP.
 (2) The Monitor is not subject to instructions by the representatives of th
performs his/her functions neutrally and independently. The Monitor would
access to all Contract documents, whenever required. It will be obligator
to treat the information and documents of the Bidders/Contractors as conf
He/she reports to the Chairman, IIFCL.

(3) The Bidder(s)/Contractor(s) accepts that the Monitor has the right to
restriction to all Project documentation of the Principal including th
the Contractor. The Contractor will also grant the Monitor, upon his/h
demonstration of a valid interest, unrestricted and unconditional acce
project documentation. The same is applicable to Sub-contractors.

(4) The Monitor is under contractual obligation to treat the information and
the Bidder(s)/ Contractor(s)/ Sub-contractor(s) with confidentiality. Th
also signed declarations on 'Non-Disclosure of Confidential Information
'Absence of Conflict of Interest'. In case of any conflict of interest a
date, the IEM shall inform Chairman, IIFCL and recuse himself / herself
case.

(5) The Principal will provide to the Monitor sufficient information about al
among the parties related to the Project provided such meetings could ha
impact on the contractual relations between the Principal and the Contra
parties offer to the Monitor the option to participate in such meetings.

(6) As soon as the Monitor notices, or believes to notice, a violation of thi

will so inform the Management of the Principal and request the Managemen
discontinue or take corrective action, or to take other relevant action.
in this regard submit non-binding recommendations. Beyond this, the Moni
right to demand from the parties that they act in a specific manner, ref
or tolerate action.

(7) The Monitor will submit a written report to the Chairman, IIFCL within 8
from the date of reference or intimation to him by the Principal and, sh
occasion arise, submit proposals for correcting problematic situations.

India Infrastructure F
Request for Proposal (RfP

(8) If the Monitor has reported to the Chairman IIFCL, a substantiated suspic
offence under relevant IPC/ PC Act, and the Chairman IIFCL has not, wit
reasonable time taken visible action to proceed against such offence or
the Chief Vigilance Officer, the Monitor may also transmit this informa
the Central Vigilance Commissioner.

(9) The word 'Monitor' would include both singular and plural.

Section 9- Pact Duration

This Pact begins when both parties have legally signed it. It expires for the
months after the last payment under the contract, and for all other Bidders 6
contract has been awarded. Any violation of the same would entail disqualifica
bidders and exclusion from future business dealings.

If any claim is made / lodged during this time, the same shall be binding and
valid despite the lapse of this pact as specified above, unless it is discharg
Chairman of IIFCL.

Section 10- Other provisions

(1) This RFP is subject to Indian Law. Place of performance and jurisdiction
Registered Office of the Principal, i.e. New Delhi.

(2) Changes and supplements as well as termination notices need to be made i

Side agreements have not been made.

(3) If the Contractor is a partnership or a consortium, this RFP must be sig

partners or consortium members.

(4) Should one or several provisions of this RFP turn out to be invalid, the
RFP remains valid. In this case, the parties will strive to come to an agreeme
original intentions.

(5) Issues like Warranty /Guarantee etc. shall be outside the purview of IEMs

(6) In the event of any contradiction between the Integrity Pact and its Anne
Clause in the Integrity Pact will prevail.

India Infrastructure Finance

Request for Proposal (RfP) - Con

(7) Central Vigilance Commission (CVC) has appointed Sh. V Kannan and Sh. Kis
Kumar Sansi as the Independent External Monitors (IEMs) for adoption and
implementation of Integrity Pact (IP) at IIFCL and will have access to all co
documents.

____________________________
____________________
(For & On behalf of the Principal) (For & On behalf
Contractor)

(Office Seal) (Office Seal

Place --------------

Date --------------

Witness 1: (Name & Address)

________ _
Witness 2: (Name & Address)
______

India Infrastructure Fin

Request for Proposal (RfP)

CERTIFICATE CUM DECLARATION OF NO CONFLICT OF INTEREST

It is certified that as on date, no conflict of interest exists, with any othe
department or party (ies) with respect to the nature of work we ______________
applying for and that during the assignment we will not undertake any assignme
which may affect the interest of the IIFCL.

Date:-__________

Place:- __________

Bidder:-
Name:-
Designation:-
Signature:-

India Infrastructure Finance

Request for Proposal (RfP) - Co

BIDDER BANK DETAILS FORM

(Please fill in the information in CAPITAL LETTERS. Please TICK wherever it is

applicable)

Name of Bidder : ____________________________________________________

Address : ________________________________________________________________

__________________________________________________________________________

City________________ Pin code________________

E-mail id: __________________________________

Phone No. with STD code:_____________________

Mobile No.: _____________________________

Permanent Account Number ___________________

MSE Registration / CA Certificate (if applicable): ___________________________

__________________________________________

3. Particulars of Bank account:

Beneficiary Name

Bank Name Branch Name

Branch Place Branch City

PIN Branch Code

Code

MICR No.

Account Type

Account No.
(as appearing in

India Infrastructure
Request for Proposal (Rf

Cheque Book)

(Code number appearing on the MICR1 cheque supplied by the Bank. Please attach
cancelled cheque of your bank for ensuring accuracy of the bank name, branch n
and Account Number)

IFSC For

CODE2 RTGS transfer

I hereby declare that the particulars given above are correct and complete. If
is delayed or not effected for reasons of incomplete or incorrect information,
IIFCL responsible. I also undertake to advise any change in the particulars of
facilitate updation of records for purpose of credit of amount through RBI RTG

Place : _____________
Date :_______________ Signature of the
Signatory

Certified that particulars furnished above are correct as per our records.

Banks stamp :
Date :

(Signature of the Authorized Official from the Banks)

N.B.: RTGS/NEFT charges if any, is to be borne by the party

1, 2: Note on IFSC / MICR

Indian Financial System Code (IFSC) is an alpha numeric code designed to uniqu
the bank-branches in India. This is 11 digit code with first 4 characters repr
banks code, the next character reserved as control character (presently 0 appe
position) and remaining 6 characters to identify the branch. The MICR code, (M
Character Recognition) that appears on cheques, has 9 digits to identify the b
had since advised all the banks to print IFSC on cheque leaves issued to their
customer may also contact his bank-branch and get the IFS Code of that branch.

India Infrastructure Fina

Request for Proposal (RfP) -

FINANCIAL BID FOR CONDUCTING CONCURRENT AUDIT OF IIFCL

Ref. No. and Date

Name & Address

To,
The Internal Auditor
INDIA INFRASTRUCTURE FINANCE COMPANY LTD (IIFCL)
Plate A & B, Tower 2, 5th Floor
NBCC Centre, East Kidwai Nagar
Delhi 110 023

Dear Sir/Madam,

We hereby agree to conduct Concurrent Audit as per the scope defined in

Invitation.

We have understood the terms and conditions laid down by you in the bidd
documents and are fully aware of the nature of services required.

We hereby quote price in Indian Rupees on firm price basis inclusive of

(excluding taxes) for the entire scope of work as specified in the Invit

In (Figures) (Rs._________

In (Words) (Rupees _______________________________only)

We declare that the above quoted price is firm and shall remain valid fo
period of the assignment. We further declare that the above quoted price
inclusive (excluding taxes) payable by us under this assignment. We furt
the quoted prices shall be deemed to cover for the full scope as aforesa

We further understand that where there are discrepancies between amount

figures and words, the amount stated in words shall prevail.

We hereby confirm that any Income Tax, surcharge or any other tax as at
the law, we agree to pay the same to the concerned authorities.

India Infrastructure Finan

Request for Proposal (RfP) -

We declare that the services will be rendered strictly in accordance

Invitation.
We confirm that in case our bid is accepted then the work would be ta
immediately and the work will be completed in time.
We confirm that the bank details required by IIFCL to release payment
electronic fund transfer system, has been furnished by us.

Date Signature

Place Name

Designation

Common seal

Person to be contacted

Designation

FAX NO.

Tel No.

Mobile No.

E-mail
 India Infrastructure Fina
Request for Proposal (RfP) -

PERFORMANCE GUARANTEE

THIS GUARANTEE AGREEMENT executed at ___________ this ________ day of

_____________ Two Thousand Nineteen,

BY:
______________________ Bank, a body corporate constituted under ______________
having its Registered Office/ Head Office at ______________, and a Branch Offi
_____________________________________________________ (hereinafter referred to
"the Guarantor", which expression shall, unless it be repugnant to the subject
context thereof, be deemed to mean and include its successors and assigns)

IN FAVOUR OF:

INDIA INFRASTRUCTURE FINANCE COMPANY LIMITED, a company

incorporated and registered under the provisions of the Companies Act, 1956 an
registered office at Plate A & B, Tower 2, NBCC Centre, East Kidwai Nagar, Del
(hereinafter referred to as the "IIFCL", as the context may require which expr
unless it be repugnant to the context, be deemed to include its successors, tr
novatees and assigns).

WHEREAS, IIFCL, vide its RFP No. ________ dated _________ ("RFP"), had called
the bids for engagement of Concurrent Auditor to implement _______________ and
purposes _______________ have been appointed as the Concurrent Auditor (herein
referred to as "Successful Bidder"). The Successful Bidder has entered into Ag
_________________ (the "Contract") with IIFCL, subject to the terms, condition
covenants, provisions and stipulation contained therein.

AND WHEREAS pursuant to RFP, the Contract, Annexure, Schedule, Forms and the o
related documents (hereinafter collectively referred to as "the said documents
agreed to avail from _______________ and _________________ has agreed to provi
IIFCL [____________] (please mention the services obtained from bidder), more
described in the said documents (hereinafter collectively referred to as "the
subject to payment of the contract price as stated in the said documents ("the
Price") and also subject to the terms, conditions, covenants, provisions and s
contained the said documents.

AND WHEREAS the Successful Bidder has duly signed the said documents.

AND WHEREAS in terms of the said documents, the Successful Bidder has agreed t
provide the Services and to procure an unconditional and irrevocable performan
guarantee, in favor of IIFCL, from a bank acceptable to IIFCL for securing ___
towards the faithful observance and performance by the Successful Bidder of th
conditions, covenants, stipulations, provisions of the said documents.

India Infrastructure F
Request for Proposal (RfP

AND WHEREAS at the request of the Successful Bidder, and in consideration of t

having entered into Contract with the Successful Bidder, the Guarantor has agr
guarantee IIFCL, payment of the [_______] % of the Contract Price amounting to
Amount in Words] towards faithful observance and performance by the Successful
the terms of the said document

NOW, THEREFORE, THIS AGREEMENT WITNESSETH AS FOLLOWS:

The words and expressions not specifically defined shall have the same meaning
respectively assigned to them in the RFP.

1. The Guarantor hereby guarantees and undertakes to pay, on demand, to IIFCL

at New Delhi forthwith an amount of Rs. ______________ or any part thereof, as
may be, as aforesaid due to IIFCL from the Successful Bidder, towards any loss
damages, etc. suffered by IIFCL on account of default of the Successful Bidder
observance and performance of the terms, conditions, covenants, stipulations,
the said documents, without any demur, reservation, contest, recourse or prote
any reference to the Successful Bidder. Any such demand or claim made by IIFCL
Guarantor shall be final, conclusive and binding notwithstanding any differenc
dispute between IIFCL and the Successful Bidder or any dispute between IIFCL a
Successful Bidder pending before any court, tribunal, arbitrator, or any other

2. The Guarantor agrees and undertakes not to revoke this Guarantee during the
these presents/the said documents, without the previous written consent of IIF
agrees that the Guarantee herein contained shall continue to be enforceable un
is discharged earlier by IIFCL, in writing.

3. IIFCL shall be the sole judge to decide whether the Successful Bidder has f
the terms and conditions of the said documents and on account of the said fail
amount has become payable by the Successful Bidder to IIFCL under this Guarant
decision of IIFCL in this behalf shall be final, conclusive and binding on the
the Guarantor shall not be entitled to require IIFCL to establish its claim un
and shall pay the sums demanded without any objection, whatsoever.

4. The liability of the Guarantor, under this Guarantee shall not be affected
(a) Any change in the constitution of the Successful Bidder or
(b) Amalgamation of the Successful Bidder with any other company, corporation
or
(C) Any change in the management of the Successful Bidder or takeover of the m
of the Successful Bidder by the Government or by any other authority; or
(d) Acquisition or rationalization of the Successful Bidder and / or of any of
undertaking(s) pursuant to any law; or
(e) Any change in the constitution of IIFCL; or
(f) Any change in the setup of the Guarantor which may be by way of change in
constitution,
(g) Winding up, voluntary or otherwise, absorption, merger or amalgamation or

India Infrastructure Fi
Request for Proposal (RfP)

the absence or deficiency of powers on the part of the Guarantor to give Guara
Indemnities or any irregularity in the exercise of such powers.
(h) Any variance in the terms and conditions of the said documents.

5. IIFCL shall be at liberty to make any modification or otherwise vary or alt

and conditions and / or rules or regulations concerning the said documents and
not in any way discharge or otherwise vitiate or affect this Guarantee. Howeve
of the Guarantor shall not exceed the guaranteed amount of Rs. [______] at any

6. Any act or omission, time or indulgence granted by IIFCL to the Successful

or Guarantor, if any, will also not discharge this Guarantee or otherwise viti
prejudice this Guarantee. Notwithstanding anything to the contrary contained h
any indulgence shown by IIFCL, the Guarantee hereby furnished shall remain in
and effect until the ultimate balance of the entire dues of IIFCL being Rs. [_
this Guarantee as aforesaid have been paid in full.

7. The Guarantor shall on demand make the payment without set-off and free and
deductions, charges, fees, or withholding of any nature presently or in the fu
levied, collected, withheld or assessed by the Government or any political sub
authority and therein and thereof.

8. The Guarantor confirms that a mere letter from IIFCL under the signature of
Signatory that there has been a default/failure on the part of the Successful
faithfully observing and performing the terms, conditions, covenants, stipulat
of the Agreement/ the said documents, shall without any other or further proof
conclusive and binding on the Guarantor.

9. This Guarantee will expire on [_________] ("Validity Period"). However, any

claim under this Guarantee must be received by the Guarantor within a period o
days (claim period) after the expiry of the Validity Period and if no such dem
been received by the Guarantor within 90 (ninety) days after the expiry of the
then all the rights of IIFCL under this Guarantee shall cease.

10. The Guarantor hereby agree and undertake to extend the validity period of
for a further period as decided by IIFCL when such request is received at leas
the expiry of the Validity Period of the Guarantee.

11. This Guarantee shall be binding upon us and successors in -interest and sh
irrevocable.

12. Notwithstanding anything contained hereinabove,

(a) the liability of the Guarantor hereunder shall not exceed Rupees .........
...............................only).
b) this Guarantee will expire on _______________. Any demand or claim in writi
this Guarantee must be received by the Guarantor on or before ______________ (
to mention the date which would be 90 after the expiry of Validity Period of B

India Infrastructure Fi
Request for Proposal (RfP)

13. For all purposes connected with this Guarantee and in respect of all dispu
differences under or in respect of these presents or arising therefrom, the co
shall alone have jurisdiction to the exclusion of all other courts.

IN WITNESS WHEREOF the Guarantor has caused these presents to be executed on t

day, month and year first herein above written as hereinafter appearing.

SIGNED AND DELIVERED BY

the within named Guarantor,
______________________,
by the hand of __________,
its authorised official.

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