Empanelment of CA Firm for Accounts Compliance of Madhya Pradesh Pashchim Kshetra Vidyut Vitaran Co. Ltd.

Introduction

Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Limited, Indore (“The Company”) is engaged in business of distribution of power in the western part oi the State of Madhya Pradesh. The Company is a public limited company wholly owned by the Government of Madhya Pradesh. The company was formed in the year 2002 as part of the State Government’s measures to implement reforms in the power sector in the State of M.P. by unbundling the erstwhile Madhya Pradesh State Electricity Board.

Preparation of Financial statement as per IND-AS being a highly specialized area requires complete knowledge of Indian Accounting Standard, as implementation & adoption of newly issued IND-As can be challenging for any business. The main focus of the company while floating the enquiry for outsourcing certain activities related to preparation of Annual Financial Statement as per IND-AS and shall be to identify qualified and professional Chartered Accountant Firms (The Bidder Firm) with repute who can provide IND-AS consultancy services on need basis.

Eligibility

a) The offer is open only for Registered Chartered Accountant firms who have at least Five partners, of which at- least Two partner must be FCA (Fellow member) of the Institute of Chartered Accountant of India.

b) The bidder firm should have completed minimum TEN years from the date of establishment of the firm, The date of establishment shall be considered as per Firm constitution certificate.

c) The bidder firm must have proven expertise of IND-AS consultancy or Audit work in any Public Sector undertaking/Government Company / Power Sector Company and shall submit documentary evidence in this regard.

d) The Bidder firm should have its Office at Indore, and lead partner of the firm for this project should sit regularly at its Indore office.

e) The Bidder firm must have Minimum Turnover of Rs.10.00 Lacs in the financial year 2020-21.

f) The Bidder firm must be registered under Goods and Service Tax and submit the certificate of registration of GST.

g) The bidder firm should provide IND -AS/IFRS Certificate issued by The Institute of chartered Accountant of India of at, least one partner.

Disqualification

MPPKVVCL may, at its own sole discretion, and at any time during the evaluation of offer disqualify any Applicant, if the Applicant has:

a) Made misleading or false representations in the forms, statements and attachments submitted in proof of the eligibility requirements.

b) Exhibited a record of poor performance such as abandoning works, not properly completing the contract, inordinately delaying completion, being involved in litigation, or financial failures, etc.;

c) Submitted a proposal which is not accompanied by required documents.

d) Failed to provide clarification related thereto, when sought;

e) Submitted more than one proposal’. This will cause disqualification of all the proposals submitted by such Applicant.

f) If information which would have entitled MPPKVVCL to reject or disqualify the bidder becomes known after the bidder has been qualified MPPKVVCL reserves the right to reject the bid at that time, or at any time after such information becomes known.

g) Applicants who are found to canvass, influence manner the qualification or selection process, offering bribes or other illegal gratification, shall or attempt to influence in any including without limitation , by be disqualified from the process at any stage.

h) Applicants who are facing any corruption Act or similar acts may enquiry/ investigation under prevention of be disqualified.

Terms and Conditions

1. The rate must be inclusive of all the taxes (Rates at which taxes are included in quoted rates may be indicated separately).Further, in case of extension of period of contract (if any), the contract price shall also be calculated 5% over the previous year rate

2. Each Applicant shall submit only one Proposal.

3. The rate should be inclusive of all the expenses to be incurred for performing the work.

4. The rate should be written in figures as well as in words also.

5. Any overwriting or cutting on rates and terms and condition should be initialed by you else the same shall be rejected.

6. Your offer should be valid for at least 30 days.

7.Payment shall normally be released within 30 days after submission of bills or on turn as per the queue.

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