Sagarmala Finance Corporation Limited inviting for financial audit services - audit report; audit firm, ca firm, cag empaneled audit or ca firm

Sagarmala Finance Corporation Limited inviting for financial audit services - audit report; audit firm, ca firm, cag empaneled audit or ca firm

1. Organization

Sagarmala Finance Corporation Limited (SMFCL)
 Govt. of India Enterprise
 Under Ministry of Ports, Shipping & Waterways
 Location: Janpath, New Delhi

2. Who Can Apply (Eligibility)

Your CA firm must meet ALL of these:

Firm Requirements

Minimum 10 years of experience (as of 31 Dec 2025)
 Registered with ICAI

Partners

At least 3 full-time partners
 One partner with ≥10 years experience
 NBFC audit experience preferred

Audit Experience

At least 3 internal/statutory audits in last 5 years
At least one client with Net Worth ≥ ₹500 crore
 At least one audit of a PSU

Bank branch audits or concurrent audits NOT counted

Location

Office must be in Delhi / NCR

3. Fees & Payments

• Quote fees excluding GST
• GST paid extra
• No additional expenses allowed (except approved travel for outstation work)
• TDS applicable

4. EMD & Processing Fee

Must submit Demand Drafts:

• ₹20,000 — EMD (Refundable)
• ₹2,360 — Processing fee (non-refundable)

5.Contract Period

• Initial: 1 year (2026-27)
• Extendable: Up to 2 more years (subject to performance)

6. Audit Frequency

Quarterly internal audit
 Final report within 45 days after each quarter

7. Scope of Work (What You Must Audit)

This is a full internal audit of an NBFC-type government finance company.

Accounts & Finance

• Books of accounts
• Bank reconciliation
• Fixed assets
• Financial statements
• Fund utilization

Lending / NBFC Operations

• Loan appraisal & sanction
• RBI compliance
• Documentation & securities
• NPA classification
• Recovery monitoring

Bills & Payments

• Vendor payments
• Expenses
• GST/TDS compliance

Income & Receivables

• Interest income verification
• Billing accuracy
• Receivable tracking

Taxation

• Income tax compliance
• TDS/GST filings
• Statutory records

HR & Payroll

• Salary calculations
• PF/ESI compliance
• Employee benefits

8. Deliverables

Internal Auditor must submit:

Detailed audit report
 Risk observations
 Non-compliance findings
 Recommendations
 Follow-up on previous issues
 Attend Audit Committee meetings if required

9.Important Conditions

• No subcontracting allowed
• Firm must not be blacklisted
• Must maintain confidentiality
• SMFCL can cancel tender without reason
• Arbitration jurisdiction: Delhi

10. Bid Submission Structure

Two separate parts:

Part-1: Technical Bid

Includes:

• Firm profile
• Experience
• Partner details
• Client list
• Registration proofs
• PAN & GST details

Part-2: Financial Bid

• Lump-sum audit fee (excluding GST)