• Mar
  • 31
  • 2012

Empanelment of Stock Auditors & Valuers with United Bank of India

Article ID 49182 | Posted In CA CS ICWA | , | 16 Comments » Print Friendly and PDF


United Bank of India invites applications from the interested professionals/firms of professionals for empanelment as Stock Auditor/Valuer for conducting audit of stock & receivables hypothecated to the Bank /valuation of immovable and movable properties including plant and machinery etc.

Stock Auditors/Valuers/Chartered Engineers who are already empanelled with the Bank are also required to apply afresh as a new panel will be formed.

Terms & Conditions for appointment and methodology for application/selection are furnished in Annexure-I.

Eligible professionals/firms of professionals, who are agreeable to the Terms & Conditions, may apply to the address mentioned below, as per format given in Annexure-II and the application should reach on or before 30.04.20 12 to the following address:


Sr. Manager (Credit) United Bank of India, Head Office, 3rd Floor, Credit Operation Deptt. 11, Hemanta Basu Sarani, Kolkata-700001

Place: Kolkata Date:

General Manager (Credit)




1. The applicant should possess the following criteria for selection:

  • Professional expert depending upon their respective area of specialization should be a member/fellow of (a) The Institute of Chartered Accountants of India, (b) The Institute of Cost & Works Accountants of India, (c) The Institution of Valuers.
  • Professionals applying for empanelment as valuer must be registered u/s 34AB & 34AC of the Wealth Tax Act, 1957.
  • Key person should not be over 70 years of age and at least one partner should be below 65 years of age.
  • The professional expert should be an income tax assessee.
  • Not de-listed/de-empanelled by IBA or any institution/organization including our Bank in the past.
  • List of employee/director/promoter attached with the Company/Firm.
  • In case of company/firm where ex-employee of our Bank is a partner or is engaged in any other capacity such as employee/director/promoter etc. such Company/Firm will be eligible for empanelment after employee.
3. Mere application by the professionals / firms of professional shall not entitle them automatically for empanelment and Banks’s decision in this regard will be final.

4. The Bank shall intimate all the selected professionals / firms of professional of their empanelment.

5. In respect of professionals/ firms of professional, which are not being selected, no communication will be sent by the Bank and no further correspondence will be entertained.

6. If there is any change in the constitution of the firm it shall be informed to the Bank immediately for our records/ consideration.

7. In case of any firm of professionals, applying for empanelment, at least one professional of that firm must confirm all of the above mentioned criteria.

8. A declaration indicating that the person is not having any direct/indirect interest in the entrusted job is to be submitted before being entrusted any job and undertaking is to be furnished by such ex-employee of in any manner in the decision making process for sanction of credit limit to the borrower in question.



Name of the Applicant

Address, telephone number and e-mail address of the Applicant

Name of the key person with his Professional Qualification(s)

Date of birth of the key person(s)/promoter (enclose proof for date of birth)
Name of other partners/staffs and their professional qualification & experience.

Name      of    other    Banks/Financial     Institutions    where     the valuer/stock auditor/ professional is already empanelled an since when.                                                               (Certificate of empanelment be enclosed)

Name of the professional bodies of which he/they   is/are member  along  with  membership/  registration              number(Individual as well as of Firm/company).
(Certificate be enclosed)
PAN/GIR Number with last two (2) years IT assessment orders
Gist of important assignments undertaken during the last 5 years
Any other relevant information
Whether the promoter has any business relation with an employee/ ex-employee of the United Bank of India
Whether presently empanelled with United Bank of India (refer date of letter issued by Bank in respect to empanelment)
Fee charged for various services (in detail)


1)  Enclose two Pass Port size photographs of key persons.
2)  Copy of valid trade license
3)  In case of company/ partnership firm, the signed photographs of all the persons who are authorized to sign the audit/ valuation report have to be affixed.
4)  In case of company/ partnership or proprietorship firm authorized signatories should affix his signature under seal of the company/firm.
5)  Strike out whichever is not applicable.
6)  Use extra sheet for any additional information.