Empanelment of CA Firm for Statutory Audit of Odisha Mining Corporation Limited

Introduction

Odisha Mining Corporation has a mining lease at Kurmitar iron ore mine. To develop and excavate Iron Ore through a contract for, inter alia, development, operation, and maintenance of the Kurmitar Iron Ore Mine located at Kurmitar, Koira, Sundergarh district of Odisha. OMC undertook selection of the Mine Developer cum Operator (MDO) through a competitive bidding process in which M/s Adani Enterprises Limited, a company within the meaning of the Companies Act, 2013, and having its registered office at Adani House, Nr. Mithakhali Circle, Navrangpura, Ahmedabad – 380009, Gujarat, INDIA was selected as a successful bidder. As per the provision of tender, M/s Adani Enterprises Limited has promoted and incorporated the SPV/Mine Developer cum Operator(MDO) as a limited liability company under the Companies Act, 2013 namely Kurmitar Iron Ore Mining Private Limited (KIOMPL).The Agreement was executed between OMC and KIOMPL on 31.10.2019 for design, engineering, procurement, construction, management as well as operation and maintenance of the Mine, and for mining and excavation of Iron Ore as well as loading and delivery thereof according to the instructions of OMC for a period of 25 years. Kurmitar Iron Ore Mining Private Limited is a 100% subsidiary company of Adani Enterprises Ltd., having its registered office in Ahmedabad, Gujarat. As per the agreement entered into, KIOMPL shall appoint Statutory Auditor, from the list of reputable firm of Chartered Accountant (the “panel of Chartered Accountant) approved by OMC. The panel shall consist of 5 reputable CA firms.

Terms of Payment

a. The payment towards audit fees will be made by KIOMPL as per the agreement. The Appointment letters and the payment terms shall be executed by KIOMPL with the selected firm from the panel as per the agreement.

b. After completion of Audit, the firm shall raise Invoice on KIOMPL as required under section 31 of GST Act. It shall contain particulars as required under GST Act & Rules.

c. The firm shall file GST returns as required under GST Acts and details must reflect in Form GSTR-2A/2B within reasonable time, so as to enable KIOMPL to take Input Tax Credit. If not, then same may be recovered from the dues of the firm.

d. The firm shall comply with provisions of E-Invoicing under GST Act(if applicable)

e. TDS as applicable shall be deducted under Income Tax Act, 1961 & certificate of deduction shall be provided by KIOMPL to firm in accordance with provisions of Income Tax Act, 1961.

General Instructions and Terms and Conditions

i. This enquiry is in the nature of Request for Proposal (RfP) intended for empanelment of 5 qualified CA firms for conducting Statutory Audit of KIOMPL, having head office in Ahmedabad.

ii. The Firm shall be required to undertake the assignments as mentioned in the statutory requirements as per Companies Act, 2013 and as per the requirements of agreement executed between the KIOMPL and selected firm.

iii. Please note that costs of preparing the proposal, presenting the same, if any, and negotiating the contract, if any, including visits to the Client etc. are not reimbursable.

iv. The Applicant firm shall have to depute appropriate number of personnel in audit teams for timely submission of Audit Report and to attain quality of audit. Audit team shall have to be headed by a qualified CA.

v. The Applicant firm is expected to carefully examine the RfP Document, including all the instructions, guidelines, terms and conditions, specifications, and formats in the RfP Document. Failure to furnish all the necessary information as required by the RfP or submission of a proposal not substantially responsive to all the requirements of the RfP shall be at the applicant firm’s own risk and is liable for rejection.

vi. KIOMPL/OMC shall not be responsible for any expenses incurred by applicant firms in connection with the preparation and delivery of their proposals, site visit, participating in the discussion and other expenses incurred during the RfP process.

vii. Clarifications, if any, in respect of this RfP can be obtained from the office of the CGM(Project). The responses to applicant firm’s queries/clarifications raised will be furnished as expeditiously as possible. Any modification of the RfP Document, which may become necessary as a result of the applicant firms query, shall be uploaded in the Corporation’s Website (wwww.omcltd.in) through the issue of an Addendum/ Amendment.

viii. No applicant firm is allowed to modify, substitute, or withdraw the PROPOSAL after its submission.

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