THE PRADESHIYA INDUSTRIAL &

INVESTMENT CORPORATION OF U.P. LTD

PICUP Bhawan, Vibhuti Khand, Gomti Nagar, Lucknow-226010
Ph: 0522-2720689, 2720798
Website: www.picupindia.com E-mail: mdpicup.123@gmail.com
INVITATION FOR EXPRESSION OF INTEREST FOR
EMPANELMENT OF CA FIRMS AND TECHNICAL
CONSULTANTS/VALUERS/ENGINEERING FIRMS
PICUP is interested in empanelling CA Firms and Technical Consultants/
Valuers/Engineering Firms for examination of installation, verification and
certification of capital investment of Large, Mega & other projects, valuation of
assets, etc. Services of CA Firms are also required for verification of SGST
claims and other fiscal benefits under various incentive schemes of GoUP.
Interested firms may apply in the application form (as displayed on our portal
www.picupindia.com) and send their applications with all documents in support
(one signed duly marked ORIGINAL and one electronic copy) within 15 days
of this advertisement.
MANAGING DIRECTOR
The Pradeshiya Industrial & Investment
Corporation of U.P. Ltd.
 REQUEST FOR PROPOSAL

FOR

EMPANELMENT OF CA AND TECHNICAL CONSULTANTS/

VALUERS/ ENGINEERS FIRMS

PICUP

PICUP Bhawan, Gomti Nagar, Lucknow

Date of issue: 10.04.2023

Last date of submission: 25.04.2023

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 DISCLAIMER

i. This Request for Proposal (RFP) is not an offer by PICUP but an invitation to receive
offers from interested and eligible parties. The purpose of this RFP is to provide the
necessary information to such interested and eligible parties that may be useful to
them in formulating their proposals in response to this RFP.
ii. No contractual obligation whatsoever shall arise from this RFP process.
iii. PICUP reserves the right to modify or even not to proceed with the empanelment.

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 Terms and Conditions for empanelment of Chartered Accountants Firms and Technical
Consultants/Valuers/Engineers Firms

1. Background.

PICUP is a Government of U.P. owned undertaking, a company incorporated under the

Companies Act, 1956 having its registered office at PICUP Bhawan, Vibhuti Khand, Gomti
Nagar, Lucknow-226010.

PICUP has been appointed as Nodal Agency by the Infrastructure and Industrial
Development Department, Government of U.P. for execution of the Industrial Investment
Promotion Scheme-2003/2012 (IIPS-2003/IIPS-2012), Infrastructure and Industrial Investment
Policy-2012 (IIIP-2012), Industrial Investment & Employment Promotion Policy-2017 (IIEPP-
2017) and Accelerated Investment Promotion Policy-2020 (AIPP-2020). Under these schemes,
the activities include examination, verification and certification of eligible Capital Investment for
deciding the maximum extent of admissible benefits, verification of qualifying amount of net
State GST deposited by applicants, etc.

2. Purpose.

PICUP, in its capacity as Nodal Agency of the Infrastructure & Industrial Development
Department, State Government gets the following done by its empanelled CA firms and
Consultants/Valuers/Engineers:

Empanelled CA firms - 1. Examination and Certification of Capital

Investment made by the company as per the
provisions of applicable GOs.
2. Verification of qualifying amount of net State
GST deposited by applicants.
3. Opinion on various GST matters, verification
assignments, etc.
Technical Consultants/Valuers/ - 1. Examination of installation & verification of
Engineers Capital Investment at site (land, building and plant
& machinery) as per the provisions of applicable
GOs.
2. Valuation of assets
3. Misc. other works

3. Eligibility Criteria.

The minimum eligibility criteria are provided at Annexure-B.

4. Application submission guidelines.

The application shall be submitted in accordance with the following guidelines:

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i. One Applicant shall submit only a single application for applicable category.

ii. Application shall be submitted in the format prescribed at Annexure -A.

iii. The application shall be unconditional, else, it would be liable for rejection.

iv. All the information/details are to be supported by documents duly certified by the
Applicant.

v. Those entities/individuals, who have been de-listed by the Corporation, or by State or

Central Government PSU/banks/FIs are not eligible to apply.

vi. Applications shall be submitted in a sealed envelope titled “Application for Empanelment
of CA and Technical Consultants/Valuers/Engineers’ at the following address:

Managing Director,
PICUP,
PICUP Bhawan,
Vibhuti Khand, Gomti Nagar, Lucknow.

For any queries, please write to mdpicup.123@gmail.com

vi. The last date for submission of application is …….. . Applications received after 5:30
pm on ……………. or any such extended date, if any, shall be rejected.
vii. Following, self-attested (and/or duly stamped and signed by Authorised Signatory in case
of Non-Individual) KYC documents should be submitted along with the duly filled
application form:

KYC for Individuals KYC for Non-Individuals

(i) Copy of PAN Card. (i) Certificate of Incorporation.
(ii) Copy of Aadhaar Card. (ii) Copy of PAN Card.
(iii) Proof of Membership or registration of (iii) Copy of Memorandum & Article of
the Institution of Engineers (India) Association or equivalent registration
ICAI/IBBI. document, partnership deed (whichever
(iv.) Copy of Address Proof with valid applicable).
document, e.g., latest electricity bill) (iv) Last three years’ self certified Income
(v.) Last three years’ Income Tax Return Tax Return.
(vi.) GST Registration Certificate if any. (v) Last three years’ Annual Report.
(vii.) Self declaration of no criminal (vi) GST Registration Certificate.
record. (vii)Name of Key Managerial Person and
(viii.) Any other details/information the certificate of proof of Membership/
considered relevant. registration of the Institution of
Engineers/valuers/ICAI/ IBBI.
(viii) Document for authentication of
Authorized Signatory viz. Board
Resolution, Power of Attorney, etc.
(ix) Any other details/information

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 considered relevant.

5. Scope of Work
The Corporation will require services of the CA firms and Technical Consultants/Valuers
/Engineers for the purposes indicated at Pt. No. (2). The scope of work for individual
assignments shall be defined on the basis of the exact requirements of each assignment.

6. Schedule of Fee/Charges Payable by PICUP for the assignments.

6.1 The Corporation has schedule of charges for the assignments described in Pt. No. (2) as
under:-

Verification of Capital Investments

Capital Cost Range Proposed Charges

(excluding applicable Taxes) (Rs.)
Upto Rs.50 Cr 1,00,000/-
Above Rs.50 Cr to Rs.100 Cr. 1,50,000/-
Above Rs.100 Cr to Rs.200 Cr 2,00,000/-
Above Rs.200 Cr to Rs.400 Cr 2,50,000/-
Above Rs.400 Cr to Rs.1000 Cr 3,00,000/-
Above Rs.1000 Cr to Rs.2000 Cr 3,50,000/-
Above Rs.2000 Cr 4,00,000/-

Verification of Net SGST Claim

- For Projects in IIIP-2012, IIEPP-2017 & AIPP-2020 – Rs.30,000 for each quarterly
claim.
- For Projects in IIPS-2003 and IIPS-2012 - Rs.30,000 for each annual claim.

6.2 In respect of specific other assignment required to be performed by CA firms or the

technical consultants/valuers/engineering firms, TOR shall be issued and admissible
charges would vary from depending on the scope of work.

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 ANNEXURE-A

APPLICATION FORMAT FOR EMPANELMENT AS TECHNICAL CONSULTANTS/

VALUERS/ ENGINEERS

I. General Information

S.N. Particulars Details (enclose supporting

documents, wherever required)
1. Category
2. Name of the Applicant
3. Constitution of Applicant
4. Date of Birth/Date of Incorporation
5. Office Address (Head Office)
6. Telephone
7. Email-id
8. PAN
9. GST No.
10. Chartered Engineer Certificate No. & Date
11. Registration –Certificate with Insolvency and Bankruptcy
Board of India (IBBI)
12. Letters of engagement as Lenders Independent Engineers
13. Membership of any other national or international body of
Appraisers/Valuers
14. General Profile of the Applicant Provide details on separate sheet
15 Recent Photograph of the key person/s along with name/s
whose credentials is being considered for satisfaction of
Qualification criteria

16. Name of key persons, their qualification & age

a)
b)
c)
17. Membership of key persons/applicant with professional
associations
18. Registration of key persons/applicant with various authorities
19. No. of full time professionals in the firm and the composition Provide details on separate sheet
of the professionals – engineers, MBAs, Chartered
Accountants, etc.
20. Presence by way of regional offices in how many states Provide details on separate sheet
21. List of Financial Institutions/Banks/State Customs Dpt. With
which the Applicant is already empaneled

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 II. Eligibility Criteria

Sl.No. Particulars Whether meets eligibility

criteria (Yes/No)
Provide necessary details and
enclose documentary proof in
satisfaction of each of the
eligibility criteria)
1. Constitution of Applicant for meeting eligibility criteria
(Provide a copy of constitutional documents in support of
this criteria)
2. Qualification for meeting eligibility criteria
3. No. of years of Experience for meeting eligibility criteria
4. Gross Receipts for meeting eligibility criteria
(Besides financial statements, a certificate from the
Chartered Accountant, shall be provided in support of this
criteria).
5. No. of Valuation assignments with PSUs, etc. for meeting
eligibility criteria
6. Age limit for meeting eligibility criteria
(If required separate sheet may be used as enclosure for providing the details for any above
columns)

APPLICATION FORMAT FOR EMPANELMENT AS CA FIRM

I. General Information

S.N. Particulars Details (enclose supporting

documents, wherever required)
1. Category
2. Name of the Applicant
3. Constitution of Applicant
4. Date of Birth/Date of Incorporation
5. Office Address (Head Office)
6. Telephone
7. Email-id
8. PAN
9. GST No.
10. Membership of any other national or international body of
Auditors
11. General Profile of the Applicant Provide details on separate sheet
12. Recent Photograph of the key person/s along with name/s
whose credentials is being considered for satisfaction of
Qualification criteria
13. Name of key persons, their qualification & age Name of all partners, their
a) qualification & age
b)
c)

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 14. Membership of Partners, their Qualifications and Age
15. Registration of key persons/applicant with various authorities
16. Nos. and qualifications of key professionals in employment of Audit firms Provide details on separate sheet

17. Presence by way of regional offices in how many states Provide details on separate sheet
18. List of Government Departments/State PSUs/Central PSUs where
Applicant is already empanelled
II. Eligibility Criteria

Sl.No. Particulars Whether meets eligibility criteria

(Yes/No)
Provide necessary details and enclose
documentary proof in satisfaction of
each of the eligibility criteria)
1. Constitution of Applicant for meeting eligibility criteria
(Provide a copy of constitutional documents in support of this criteria)
2. DISA qualified support documents
3. RBI registration support document
4. Qualification for meeting eligibility criteria
5. No. of years of Experience for meeting eligibility criteria
6. Gross Receipts for meeting eligibility criteria
(Besides financial statements, a certificate from the Chartered Accountant,
shall be provided in support of this criteria).
7. No. of assignments with PSUs, etc. for meeting eligibility criteria
8. Age limit for meeting eligibility criteria
(If required separate sheet may be used as enclosure for providing the details for any above columns)

CERTIFICATE FROM CA FIRMS, TECHNICAL CONSULTANTS, VALUERS, ENGINEERS

I/we hereby apply for empanelment as CA Firm/Technical Consultants/Valuers/Engineers in your institution and declare that:

1. I/We declare that the particulars furnished above are true to the best of my/our knowledge and belief, and any incorrect
information furnished may lead to cancellation of my/our application for empanelment with PICUP.
2. I/We understood and accept that empanelment shall be at the discretion of PICUP as per requirement and PICUP has a
right to reject our application without assigning any reasons therefor.
3. I/We shall submit the reports as per standard formats prescribed by the PICUP with correct and full information and
without negligence;
4. If my/our application for empanelment in PICUP is considered favorably, I/we shall abide by all the terms & conditions
stated herein as well as other terms & conditions prescribed by PICUP from time to time;
5. I/we understand that Empanelment as such does not guarantee award of assignments by PICUP.
6. I/We understand that Empanelment is subject to periodical review by PICUP.
7. I/We understand that PICUP reserves the right to delete/cancel the empanelment/stop awarding future assignments
without prior notice or assigning any reasons whatsoever;
8. The verification/certification/valuation shall be conducted on the basis of accepted principles as also the criteria/terms
of reference specified by PICUP from time to time;
9. I/We shall maintain secrecy of the business allotted by PICUP;
10. I/We shall not enter into any financial transaction with the PICUP’s clients to the detriment of PICUP’s interest;

11. Under no circumstances, I/we shall use the name or logo of PICUP in our correspondence with any other
institution/agency;
12. If any wrong certification is detected, I/we hereby consent that PICUP may take steps as deemed fit;
13. I/We undertake to keep PICUP informed of any events or happenings which would make me ineligible for
empanelment as a Technical Consultants/Valuer/Engineer.

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14. I/We have not concealed or suppressed any material information, facts and record and I have made a complete and full
disclosure;
15. I/We am/are a citizen/incorporated/registered in India;

16. I/We have not been convicted of any offence and sentenced to a term of imprisonment;
17. I/We have not been found guilty of misconduct in professional capacity; neither have I been removed from the panel of
any central or state PSU/ Bank or public sector FI on account of non-performance, work found below standards, or
malfeasance,
18. I/We are not an un-discharged insolvent; and
19. I/We have not been convicted of an offence connected with any proceeding under the Income Tax Act, 1961, Wealth
Tax Act, 1957, Gift Tax Act, 1958, Customs Act, 1962, Central Excise Act 1944 or CGST Act, 2017.
20. I/We hereby understand that PICUP at any point of time may discontinue the empanelment without giving any reasons,
to this effect, I/we have no objection.
21. I/We undertake that if any assignment is awarded, I/we shall not sub-contract the assigned work.
22. I/We shall not deal in securities of any subject company after any time when he/it first becomes aware of the possibility
of his/its association with the assessment, and in accordance with the Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 2015 or till the time the report becomes public whichever is earlier.
23. I/We while respecting the confidentiality of information acquired during the course of performing professional
services, shall maintain proper working papers, for production before a regulatory authority or for a peer review. In the
event of a pending case before the Tribunal or Appellate Tribunal, the record should be maintained till the disposal of
the case.

Date:

Place: SIGNATURE OF THE APPLICANT

(To be signed by the individual/authorized signatory of the firm/company)

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 ANNEXURE-B

Eligibility Criteria

S.N. Criteria CA Firm Technical Consultants/

Valuers/Engineers
1. Who may apply Partnership, LLP, LLC with Individual/sole proprietorship
their head office situated at firm, partnership, LLP, LLC.
Lucknow/Kanpur/ Firms/Entities
NCR/Prayagraj
Individuals/Firms/other Entities who have been de-listed by the Corporation are not
eligible to apply.
2. Qualification i. Member of the Institute of i. Qualified with Bachelor’s
Chartered Accountant of Degree in Civil/Chemical/
India (ICAI) at least for Mechanical/Electrical /other
preceding ten years. disciplines of engineering
from a recognized university.
3. Essential criteria
Applicant as individual 1. Registered with the Institute
of Engineers or institution of
valuers.
2. Registered with Insolvency
& Bankruptcy Board of India
in the valuation category of
either land & building or plant
& machinery.
Applicant as partnership 1. The designated partner 1. Registered with the
firm or LLP should be exclusively Insolvency & Bankruptcy
handling GST/ Indirect Tax Board of India in two
assignments within the firm categories of valuers for
for a minimum period of ‘land and building’ and
preceding 5 years. valuers for ‘plant and
2. At least 01 partner should machinery’
be DISA qualified. 2. On panel of any Public
3. Firm be RBI registered in sector Bank as ‘Lender’s
Category I. Independent Engineers’
4.The firm should be 3. At least 1 active member
registered with CAG. to be registered with the
Institute of Engineers/
Institute of Valuers
Applicant as company Not Applicable. 1. Registered with the
Insolvency & Bankruptcy
Board of India in two
categories of valuers for
‘land and building’ and
valuers for ‘plant and
machinery’
2. On panel of any Public
sector Bank as ‘Lender’s
Independent Engineers’
3. At least 1 full time director
having Board position to be
registered with the Institute
of Engineers/Institute of
Valuers.

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4. No. of years of experience 10 years. Out of the same, the 10 years. Must be on the panel
applicant should have of at least 3 PSU/ PSU banks
experience of at least 5 years & FIs/ Government NBFCs
in GST/indirect taxes of any
Government Department or
state/ central PSU.
5. Gross receipts (Rs., lakhs) average of preceding 3 years (2020-21, 2021-22, 2022-23)
Applicant as individual 40 40
Applicant as partnership 50 50
firm or LLP
Applicant as company Not applicable 50
6. No. of assignments with 10 assignments completed 10 assignments completed
public sector Banks/all successfully (last 5 years successfully (last 5 years
India FIs/ other public orders placed to be enclosed) orders placed to be enclosed)
sector entities.
7. Age limit Not more than 60 years as on Not more than 60 years as on
application date for application date for
individuals, or one active individuals, any one active
partner undertaking the partner/ any one full time
assignment. active director of company.

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