Empanelment of CA Firm for Income Tax Consultant of J&K Bank 

Overview

The Jammu & Kashmir Bank Ltd (J&K Bank), Banking Company under the Companies Act-2013 and a banking company under section 5 (c) of the Banking Regulation Act, 1949, is an old Private Sector Bank that rides on a cutting edge Core Banking platform. J&K Bank has network of around 969 branches (as on December 31, 2021) spread across India.

J&K Bank offers wide range of products and services to both Corporate and Retail Customers. J&K Bank also provides services to its customers through alternate channels such as Internet Banking, Debit Cards, Mobile Banking, etc.

Definitions

a. “Bank” means J&K Bank Limited, registered under Companies Act 1956, which has invited the bids for consultancy services, and with which the selected consultant signs the contract for the services to be rendered and to whom the selected consultant shall provide services as per the terms and conditions of reference of the contract.

b. “Bidder” means a consultant who is submitting its proposal for providing services to J&K Bank.

c. “Consultant” means any entity or firm or an association of persons submitting its proposal for providing services to J&K Bank.

d. “Contract” means the contract signed by the parties and all the attached documents and the appendices.

e. “Day” means calendar day.

f. “Personnel” means professionals provided by the advisor/consultant to perform the services or any part thereof.

g. “Proposal” means the technical proposal and the commercial proposal.

h. “RFP” means this “Request for Proposal” prepared by J&K Bank for the selection of Consultant.

i. “Assignment/job” means the work to be performed by the Consultant pursuant to the contract.

j. “Terms of Reference (TOR) means the document included in the RFP which explains the scope of work, activities, tasks to be performed, etc.

k. “Balance Sheet size” means the total of assets side of the balance sheet.

l. The term Consultant, applicant and bidder have been used interchangeably in the RFP document.

Eligibility Criteria

1. The bidder should be a Partnership Firm / LLP / Limited Company registered or Incorporated in India with 10 years of standing. It should not be an Individual/ Proprietary Firm.

Documents Required A certified true copy of the Limited Liability Partnership Agreement / Certificate of Incorporation / Registration certificate/ Acknowledgement for acceptance for registration (with the Registrar of firms) for partnership firms/LLP)

2. Bidder should have minimum of 5 CA partners (qualifying partners)/directors of company.

Bidder should have minimum 1 DISA/CISA qualified Partner/ Director of company on its payroll for a period not less than one year as on 31.03.2021.

At least three qualifying partner/director must be associated with the firm for a period not less than one year as on 31.03.2021.

Documents Required As per constitution certificate issued by ICAI and Self-declaration in Annexure for firms.—

3. The Bidder should have remained regular Income Tax Consultant of at least one Scheduled Commercial Bank /Financial Institutions (other than RRB/Co-operative Bank).

(At least one year of continuous engagement from 01.04.2015 to 31.03.2021)

Documents Required Client Certificate/ Appointment letter. Also provide details as per Annexure D-3

4. The Bidder should have a full-fledged office in the Union Territory of Jammu & Kashmir for at least last five years.

Documents Required Self-declaration supported by documents such as Rent Agreement, Electricity Bill etc.

5. The Bidder should have average turnover of at least Rupees one crore & twenty five lakhs during last three financial years and should not have negative net worth in any of the last three years.

Documents Required Copy of the Audited Balance Sheet for last three financial years.

6. The Bidder should not have been banned / declared ineligible for corrupt and fraudulent practices by the Govt. of India / State Governments /RBI/ICAI/ any Bank and should not have any disciplinary proceedings pending against the applicant firm or any of the partners with ICAI /RBI.

The Bidder or its affiliates should have, during the last three years, neither failed to perform on any agreement, as evidenced by imposition of a penalty by an arbitral or a judicial pronouncement or arbitration awarded against the Applicant or its Affiliates, nor been expelled from any project or agreement nor had any agreement terminated for breach by such Applicant or its Affiliates

Documents Required A self-declaration by the Bidder on its letter head.

7. The Bidder’s firm should not be owned or controlled by any Director or Employee (or their Relatives) of J&K Bank.

Documents Required A self-declaration by the Bidder on its letter head.

8. The Bidder firm shall not be a firm/entity whose name is appearing in The Indian Bankers Association Caution List.

Documents Required A self-declaration by the Bidder on its letter head.

Proposal evaluation

From the time the proposals are opened to the time the contract is awarded, the consultants should not contact J&K Bank, unless called for. The consultants should also not contact any of the officers/employees or representatives of the Bank on any matter related to its technical proposal and/or commercial proposal with a view to influencing J&K Bank in the examination, evaluation, ranking of proposals, and recommendation for award of contract. Such an effort shall result in the rejection of the consultants’ proposals. Canvassing in any form would lead to disqualification of the proposal.

In case of a discrepancy between amount in words and figures, the former will prevail.

J&K Bank reserves the right to accept or reject any or all the proposals without assigning any reasons.

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