Vivriti Capital Private Limited Request for Internal reviewers
Vivriti Capital Private Limited
Request for
Internal
Reviewers
2019-20
Page 1 of 7
Vivriti Capital Private Limited Request for Internal reviewers
TABLE OF CONTENTS
Section Document description Page No.
1. Request for Internal Reviewers 3
2. Company Profile 4
3. Eligibility Criteria 5
4. Scope of assignment 6
5. Instructions for Reviewers 7
and general terms &
conditions
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Vivriti Capital Private Limited Request for Internal reviewers
Section-1
REQUEST FOR INTERNAL REVIEWERS
Vivriti Capital ("VCPL") invites interested Chartered Accountant firms and LLPs to
submit their interest for internal reviews of the company's clients on as an when
required basis on the terms and conditions contained herein.
The interested parties are advised to adhere to the following schedule for the
purpose of this Request and submit their queries, replies & quotations at details
mentioned below:
Date of issuance of Request : 6th June 2019
Last Date for submission of : 15th June 2019
queries, if any
Reply to the queries/ clarification : 25th June 2019
by the Employer and issuance of
Addendum, if any
Last date for submission : 30th June 2019
"NO INTEREST OR QUOTES WILL BE CONSIDERED AFTER THE LAST DATE & TIME FOR
SUBMISSION"
Contact Details:
You can contact at the following details:
Ms. Abhishek Rungta (Finance & Accounts)
(M) +91 95001-25144
Email: abhishek.rungta@vivriticapital.com
Address: Vivriti Capital Private Limited, 12th floor, Prestige Polygon,
No. 471, Anna Salai, Nandanam, Chennai 600035
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Vivriti Capital Private Limited Request for Internal reviewers
Section-2
COMPANY PROFILE
Vivriti Capital is India's first tech enabled marketplace that brings together capital markets
investors with institutions, small enterprises and individuals. It started with a mission to
offer efficient and customized financial solutions to individuals, enterprises and
institutions.
The founding team comes with a collective experience of more than five decades in
lending, investment banking, structured finance and asset management, and are passionate
about innovation and the use of technology in the dissemination of financial services in
India. The team has previously collectively assessed more than 500 retail lending
organizations in India and abroad, developed underwriting frameworks for various types of
retail lending in India and used capital markets to deepen financial inclusion in India.
For any further details on company profile, please visit www.vivriticapital.com
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Vivriti Capital Private Limited Request for Internal reviewers
Section-3
ELIGIBILITY CRITERIA
1. The firm must be empaneled with ICAI, without which the application of the
firm would not be considered.
2. Firms must qualify following minimum criteria:
S No Particulars Minimum Criteria
1 Number of Full Time Fellow Partners associated with 03
the firm for not less than 2 years (As per Certificate
of ICAI as on 01.01.2019
2 Turnover of the firm per year (Last two Financial Min Rs. 20 lakhs/-
years)
3 No. of years of firm existence 3 Years +
4 No. of assignments of Internal Audit of NBFC 1
(preferably SME/LAP/Business Loans/Secured
mortgage loans) of similar size in the last 3 years
(2016-17 to 2018-19)
Any firm not qualifying these minimum criteria need not apply as it shall be
summarily rejected.
3. Supporting Documents for Eligibility Criterions:
Following supporting documents must be submitted by the firm along with the
technical quote/interest:
For Sl. No. 2 (1) above, the firm must submit an attested copy of Certificate of
ICAI as on 01.0.2019.
For Sl. No. 2 (2) the firm must submit a copy of the financials for the last two
years.
For Sl. No. 2 (4), the firm must submit a copy of the appointment letters/audit
completion certificate etc., from the auditee organizations.
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Vivriti Capital Private Limited Request for Internal reviewers
Section-4
SCOPE OF ASSIGNMENT
Areas Sub-Areas Detailed scope
Compliances a. Sourcing Review compliances to client's internally set
policy policies, through reviewing ~200-300 disbursed
files.
b. Underwriti
During the above, we need to capture data in
ng Policy relation to
c. Collection Customer Demographics (Name, Age, Income, Loan
policy Amount, Vintage in current business/profession, CB
Score, Co-applicant & Guarantor details, interest
rate etc.)
Collateral/Security details (LTV, FOIR, Mortgage
type, hypothecation created)
In case of property (Original papers are there, legal
reports, technical reports)
Repossession a. Assets repossession Data to be reviewed for assets repossessed.
analysis process Compliance with the internal repossession policy
Realization time for repossessed assets
b. Stock audit
Repossession loss analysis based on different
customer profile and assets class.
Analyzing stock repossession frequency, sale
frequency, avg. stock available in the yard/locker/
other storing place.
Performance a. Performance of Understanding the roll forward and roll back rates
analysis Overdue customers Early warning signals tools implemented by the
organization and its efficacy.
Trends across overdue customers
Restructuring/ Refinancing of loans and its approval
Bank a. Equity inflows & RPT Analyzing bank statement for Equity inflow, RPT
Statement transactions transactions, disbursement trends, etc.
Analysis M-o-M knock off transaction in the bank statement
System a. System review for Covenants compliance
Review recording method Dedupe functionality and efficacy
Classification of the loans
Different MIS report running ability and cross
verification.
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Vivriti Capital Private Limited Request for Internal reviewers
Section - 5
INSTRUCTIONS FOR INTERNAL REVIEWERS
1. Review shall be conducted at VCPL's client branch or HO located across PAN India
on case to case basis.
2. Reviewers should apply for the locations where they have physical branches, VCPL
would assign clients review based on such locations.
3. Review duration would be ~ 4 days on each VCPL's client.
4. Empaneled firm to depute 4 competent audit personals having experience
working as internal auditor for NBFC (preferably SME/LAP/Business
Loans/Secured mortgage loans) headed by Chartered Accountant for the review
work.
5. Review must stress more on systems and processes, understanding the
customer & collateral profile on the client's borrowers . All gaps, lapses
and departures from approved standard Accounting Practices, customer &
collateral profile are to be reported to the review Committee.
6.
7. Reports, complete in all respects should be submitted within a weeks' time
from the end of the review period.
8. Internal Reviewer to be present in Review committee meetings, if called for.
General Terms & Conditions:
1. The interest/quotation documents shall be treated as "confidential".
2. Interested firm may enclose the following:
(a) Copy certificate on Registration of the Company/firm
(b) Copy of PAN Card
(c) Copy of GST Registration
(d) Copy of the IT Return, P&L account and balance sheet.
3. The rate of GST etc., prevalent on the date of tender, should be clearly
indicated in the tender itself, if it's not mentioned; it will be treated as
inclusive.
4. Incomplete interest/quote will be summarily rejected.
5. More than one bid shall not be accepted from one party.
6. Conditional bids will not be accepted.
7. Selection of the internal reviewers shall be at the sole discretion of the company
(VCPL).
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