Sbi Stock Receivable Empanelment Letter

सीसीओ विभाग
स्थानीय प्रधान कायाालय, ततलकमागा, सी स्कीम,

भारतीय स्टे ट बैंक जयपुर –302 005
State Bank Of India CCO Department

Local Head Office, Tilak Marg
C-Scheme, Jaipur – 302 005
Date: 10-08-2021
M/s Bakliwal & Co

Balaji Tower 6, Near Radission blu hotel, durgapura,
Jaipur, Rajasthan
7738237669
Dear Sir/ Madam,
Empanelment of Stock and Receivable Auditor (SRAs)
We refer to your application requesting us for empanelment as Stock and Receivable Auditor (SRAs)
on our Bank’s panel and have pleasure to inform you that the appropriate authority has acceded to
your request and has empanelled you as Stock and Receivable Auditor for Jaipur Circle with effect
from 01-08-2021 till 31-07-2023 or further review, whichever is earlier.
2. Your services will be utilised by our Branches / Offices/Credit Processing Cells in Jaipur Circle
i.e. Rajasthan State, as and when the need arises, subject to the following:
▪ Your empanelment will be restricted to Stock and Receivable Audit.

▪ You have to restrict the number of assignments to be done in a financial year to a maximum of 12
(twelve).
▪ You have to confine to a maximum of five assignments in a financial year from any one branch.
▪ You have to submit your Stock and Receivable Audit Report in the prescribed format of the Bank.
▪ You will be responsible for the findings / suggestions / implications on the report of the assignment
undertaken by you.
▪ You will maintain secrecy of the business given to you by the Bank.
▪ For each of the assignments allotted to you, fees payable will have to be negotiated with the Branch
/ Bank depending upon the volume of work involved.
▪ You will be paid your charges / fees in lump sum through Branch / Operating unit only after
satisfactory completion of the assignment.
▪ You will refrain from carrying out any financial transaction with the Bank’s borrowers, on whom the
assignment is given to you.
3. Please note that the following are the disqualification criterion for appointment as Stock & Receivable
Auditor (SRAs) as per RBI guidelines. Please ensure that you / your firm are / is not having any of the
disqualifications enumerated hereunder;
i) Proprietor / Partner of the audit firm is also Director in the appointing Bank.
ii) Audit firm is already entrusted with statutory audit in the same Bank as Central / Branch
Statutory Auditor.
iii) Associate firms or sister concerns, where the main firm / partner is allotted statutory / branch
audit in a particular year.
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4. It may be clarified that in terms of the RBI guidelines, you / your firm will stand disqualified from
accepting audit of our branches under the following circumstances:
i) In case you are a sole proprietary concern and the proprietor is not full time practising
Chartered Accountant or is employed elsewhere.
ii) If you sub-contract the audit work entrusted by us to you to some other audit firms.
5. You are, therefore, requested to note that even though, we have issued this empanelment letter, you
should not accept the assignment/ audit, if any of the above mentioned disqualification criterion are
applicable to you / your firm. Your empanelment is liable to be cancelled, if any of the above
disqualification criterion are applicable, even after your empanelment. You should not undertake any
Stock and Receivable Audit work if it is not permissible as per guidelines / rules / code of conduct of
the concerned institution / regulatory bodies and inform the same to the operating functionaries / bank.
6. You are agreeable to open a current account in the name of the firm with any convenient branch of
SBI for facilitating payment of fee for the services rendered by you.
7. You are advised that under no circumstances you should use any legend containing the Bank's name
or symbol on your letter heads, signboards, name plates, visiting cards etc. You will not use this
empanelment to canvas your business.
8. You should note that your selection for empanelment does not amount to an appointment or right for
an appointment and the Bank is free to employ any SRAs of its choice and no right exists for an
empanelled SRAs to claim that he alone should be entrusted with the Bank’s work. Please note that
this is only an empanelment of your concern / firm on our approved panel of SRAs and not an
assignment.
9. The Bank reserves the right to call for additional information / documents for verification as may be
required as and when deemed necessary. It also reserves the right to remove / delist you from the
panel without assigning any reason at any time. Your empanelment will automatically cease if any
adverse features are noticed or reported by our branches / Controllers. No claim in this regard shall be
entertained.
10. Any act of omission / misconduct in your professional capacity will render your empanelment
cancelled. The bank will be at liberty to initiate appropriate action against you as deemed fit. Further, in
such cases as and when detected, the bank may report the same to statutory / regulatory bodies like
ICAI and IBA/RBI for taking appropriate action, as it deems fit.
11. Any adverse developments such as disqualification /debarment / de-listing by any

bank/institution/professional body may be immediately brought to the notice of the Bank.
12. Your opinion / certification / report would be an input for our decision making. Therefore, in the event
your opinion / certification / report turns out to be untrue or factually incorrect causing loss to the Bank,
we may seek such clarifications as may be required to investigate the matter and fix accountability. In
the event, it is established that there was gross negligence/unfair practices / professional misconduct
on your part or you had colluded with our customer or anybody in causing pecuniary damage / loss to
the bank, we may recommend your name for inclusion in the caution list being maintained by the Indian
Banks Association (IBA) for circulation amongst member banks. The association has been mandated
by RBI to do so.
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13. The empanelment / continuation on panel would depend upon the quality of services / performance
and other related things prevailing at that time. The Bank may in its sole discretion renew / continue
your empanelment for further period as deemed fit and proper.
14. You may promptly inform us details of any changes in your contact details, nature of constitution of
firm, mailing address or any other material change(s).
15. All information acquired/obtained (whether in soft format or otherwise) and made available to the
firm/ firm’s audit staff during the course of audit assignment is private and confidential and should not
be transmitted or shared with anyone/ third party without the permission of the Bank except if required
by and regulation/statutory authority. Any breach of confidentiality could render the firm liable to be
disqualified and the assignment terminated which would also include making a reference to the same
to the RBI/ICAI.
16. You are advised to submit an undertaking on stamp paper to the effect that;
• You are not appointed / empanelled as a Statutory Auditor for the Bank during this empanelment
period (including cooling period).
• You are not debarred / delisted by any Bank / RBI / any other statutory body / regulatory body
for any professional misconduct.
• Your services have not been found deficient by any Bank.
• There is no adverse certificate issued by any Bank / RBI / any other statutory body / regulatory
body for any service lapses /inadequacies.
17. You are requested to return the copy of this letter duly signed within fifteen days of the date of this
letter, as a token of acceptance of the above terms and conditions. The empanelment will be effective
only on receipt of your acceptance.

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सीसीओ विभाग

स्थानीय प्रधान कायाालय, ततलकमागा, सी स्कीम,

State Bank Of India CCO Department

M/s Bakliwal & Co

Dear Sir/ Madam,

Empanelment of Stock and Receivable Auditor (SRAs)

▪ Your empanelment will be restricted to Stock and Receivable Audit.

11. Any adverse developments such as disqualification /debarment / de-listing by any

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