Kerala State Electricity Board
Re-tender is invited from reputed Chartered Accountant firms or Limited Liability Partnership firms to carry out lntensive Audit of KSEB Ltd
· Tender No.: 3112/Con.F/2025/KSERC
· RO No.: D3/50/2026/I&PRD
· Issuing Authority: Kerala State Electricity Regulatory Commission (KSERC)
· Subject: Intensive Audit of KSEB Ltd
· Background: Compliance with Supreme Court of India order dated 25-11-2025
· Regulatory Asset under review: ₹ 6,645.30 crore (as on 01-04-2024)
· Eligible Bidders: Reputed CA firms / LLPs
Mandatory
1. Registered CA firm or LLP
2. At least one full-time FCA Partner
3. Minimum 5 years post-qualification experience
4. Not currently engaged with KSEB Ltd in any capacity
5. Not blacklisted / debarred by ICAI or NFRA
6. Commitment not to accept any KSEB assignment during the audit period
Desirable
· Prior power / electricity sector audit experience
Manpower
· Minimum 2 qualified Chartered Accountants on regular payroll (details in Annexure-II)
· Two-envelope system (physical submission):
1. Envelope 1 – Technical Bid
2. Envelope 2 – Financial Bid
· Superscription required:
“Bids for Intensive Audit of KSEB Ltd – Do Not Open Before 06-02-2026”
· Corrections/overwriting → disqualification
· Offer validity: 120 days
· Completion timeline: 90 days from Letter of Award
· Liquidated Damages:
o 0.05% per week, capped at 5% of contract value
o Applicable if delay is attributable to auditor
· Quote all-inclusive professional fee
· GST to be shown separately
· No price variation / extra claims
· Lowest Financial Bid (L1) wins after technical qualification
· KSERC not bound to accept L1
· Confidentiality: Strict; disclosures only with KSERC approval
· Governing Law: Indian law
· Jurisdiction: Thiruvananthapuram courts
· Dispute Resolution: Arbitration (venue: Thiruvananthapuram)
· Termination: For non-performance / breach
· Ethics: Any attempt to influence evaluation → rejection & blacklisting