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HO/CRMD/At</Stocki'1 708/2022-231 7 I Date:21.10.2O22

M/S ,.
BAKLIWAL & CO'
412 ATLANTA ESTATE NEAR VIRWANI ESTATE
GOREGAON MULUND LINK ROAD GOREGAON - EAST
MUMBAI4OO063
9004315053
ashish@bakliwalca. com

Dear Sir,
a-'
ASSIGNMENT TO CARRY OUT STOCK AUDIT OF NICKUNJ EXIMP
ENTERPRISE PVT LTD . BORROWAL ACCOUNT WITH KALBADEVI

We are pleased to advise that it has been decided to allot the assignment of Stock
Audit of the captioned account to you. Please carry out the Stock Audit from
01.04,2022 or from the date of last Stock Audit whichever is later, till date. Please
note to complete the Stock Audit within 15 days from the date of your acceptance.

2. Please call on the The AGM,KALBADEVI to ascertain the required information

and to inform your requirements for carrying out the Stock Audit. you are required
to produce proper identification of your Partners/Audit assistants when they visit the
above Branch and the unit for Stock Audit. After having ascertained the basic
information about the Accounts from the branch a programme may be chalked out
with the consent of the authorised persons of the borrowing unit and the Branch
Officials and then the actual Audit of Stocks/ Receivables should be commenced.
We advise you not to contact the borrower directly.

3. The general terms and conditions, the terms of reference as well as the various
aspects of the Stock Audit, that should be dealt with, are as per enclosure.

4. You have to give a certificate that irregularities/observations noticed by you have

been rectified by the company /firm the following irregularities/observation are yet
to be rectified by the company with UDIN No specified.

a. After conducting the stock audit the stock Auditors should clearly mention the
irregularities to be complied/rectified by the company or the deficiencies noticed
during the audit which were not replied satisfactorily by the company to the
auditors.

b. While putting up the memorandum for closure of Stock Audit report, Branch to
issue the certificate regarding bonower/branch having rectified the irregularity
 which is to be countersigned by you or you can submit separate certificate in
this regard.

5. The professional fees is fixed at Rs.40000 -) (excluding of GST) taking into

account the man days required for Stock Audit. ln addition to this, permissible
minimum expenses such as the cost of travel, stay, local conveyance and other out
of pocket expenses will be paid/ reimbursed on actual basis, as per need. Please
finalise such matters,including travel arrangements, with the Branch Manager in
advance i.e. before commencement of Stock Audit .'15% of the scheduled fees will
be paid only after receipt of the required countersign/certificate from you as stated
under Para 4(b)

6. Along with the detailed Stock Audit report, you should also submit an Executive
Summary(as per the format enclosed). Please also mention in the Executive
Summary of the report specifically - the period covered under Stock Audit , the
dates of Stock Audit and total number of man-days spent.

Stock Audit report to include deduction of drawing power

Stock Audit report to include Funds Flow statement to conclude about related party
transactions and diversion of funds.
Stock audit report are to be submitted by 30.11.2022,

7. Please send your acceptance/ declarations as per the format given in

Annexure-ll (a), (b) and (c) to us and to the concerned Branch immediately.The
date of commencement of Stock Audit should be advised to us. I-bgJeDoELls.!9
be submitted in duplicate alonqwith vour bill for pavment to the Branch with
a copv to. The Branch Manager.

8. The Bank reseryes the right to cancel the assignment in cases, where it may
deem fit.

.r616>a-
Dipanwita Sahani

(Asst General Manager)

NBG WEST -1
9 86907 I 406/ 022 -22684 493

Classification: lnternal