Providing Financial Review and Accounting Services for Chit Fund Division

The firm should be CAG empanelled. The preference will be given to the audit firm for experience in audit of major public sector undertakings.

The audit firm should have minimum 10 partners and with at least 3 fellow members of Institute of Chartered Accountants of India and with HO in Bangalore only (the firm should enclose the certificate issued by the Institute of Chartered Accountants of India in this regard) and at least Four of the partners should be continuing partner in the firm for more than 10 years

Minimum Two partner of the audit firm should have studied Kannada as one of the subjects and must be well versed in writing and reading of Kannada language. (Proof of study of Kannada subject should be uploaded).

Minimum one CA and 2 executives to be deployed for the assignment, and should have knowledge of reading & writing in Kannada for handling the work of the Division

The firm should have minimum three years experience in providing financial accounting services or any audit services for the State/Central Public Sector Undertakings Companies preference will be giving for CA firm having experience auditing or rendering the services to Chit Fund Company.

The Chartered Accountant heading the assignment should be IND AS certified professional from ICAI and should have ample experience in finalization of accounts (Ind AS) and other related works as assigned by MSIL from time to time as per annexure B attached

Firms currently appointed as (Internal / Concurrent and tax consultant) Auditors in any of departments/ Divisions of MSIL shall not apply for same department/ division.

The concerned firm shall not be blacklisted or banned by ICAI, State or Central Government PSUs. In case if the same is noticed subsequently or at a later stage, such firm will be terminated immediately.

EOI should be as per format C and submitted with details like profile of the firm, firm registration number, branch office details, experience in the field of financial and accounting services provided to Public Sector Undertaking in Karnataka along with copies of appointment letters issued by the PSU and staff strength along with eligibility criteria, to be uploaded in the e-portal on or before 15:00 HRS on 12th June 2026.

The firm should have a cumulative turnover of more than Rs. 5.00 Crores during financial years 2022-23, 2023-24 & 2024-25. A copy of the audited financial statements for the respective years must be uploaded as proof