The Public Sector Bank #Canara bank having head office at Bangalore Listed in #NSE and #BSE with #Scrip Code – regulated by #RBI has published #RFP for #Empanelment of #valuer to disinvest its subsidiary with a RFP title # EMPANELMENT OF QUALIFIED #VALUATION #EXPERT FOR VALUATION FOR THE PURPOSE OF DIVESTMENT / WINDING UP OF CANARA BANK’S OVERSEAS SUBSIDIARY, #CANARA BANK (TANZANIA) LIMITED. CANARA BANK, is a body Corporate and a premier Public Sector Bank established in the Year 1906 and nationalized under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, having its Head office at 112, J C Road, Bengaluru – 560 002 and among others, is having International Operations Wing (IO Wing) at 2nd Floor, 2nd Cross, Y Ramachandra Road, Gandhinagar, Bengaluru - 560 009. The Bank is having a Total Business – Rs. 18,27,556 Cr. with Gross Advances –Rs.7,41,147 Cr. and Gross Deposits – Rs.10,86,409 Cr. as on 31.03.2022.
The grievance is filed against Canara Bank a public sector bank controlled by #RBI and #Finance Ministry for not following #Govt. of India Procurement Policy,2012 and doing gross violation in public procurement by not following GFR 2017 and manual and not following #MSE related provision in the recently floated RFP on e-publishing application of #NIC #CPP Portal of Govt. of India. The Canara bank team is doing procurement as if they are doing procurement for their own self with his own money. While working as a public servant they forgot that they are employed as servant and neither owner of Canara bank, and nor purchase 100 shareholding of the bank. Even though owners neither given any power nor they can decide how to do procurement and whom to appoint and whom to reject without following GOI Policy. As they have pre fixed #MNC #Big-4 companies in their mind to be appointed as #empaneled valuer for #disinvestment of Canara bank subsidiary at #Tanzania with a clear intention to get kick-backs in the transaction, avoiding #registered valuer as per the #GoI guidelines, #RBI Circular, Canara Bank board approved policy, as per #Income Tax, #Wealth Tax, #Black Money Act, SARFAESI Act, #FEMA Regulations, #Company Act, #IBC Code and Official Liquidator Valuer Emp Policy and their own valuer emp policy. They have decided to appoint unregistered person as empaneled valuer and for that matter tried to keep Rs.50 Cr. Turnover, which no registered valuer across India generate. They have decided to appoint restricted MNC firm, by violating enacted act of parliament, RBI Circular, Ministry of Finance, Hence they are not allowing exemption in tender fees, EMD and annual turnover criteria and experience criteria for Registered Valuer bidders, which is against the Policy. As Canara Bank demanding #indemnity from empaneled registered valuer, which is already challenged in the court and court has granted interim relief in the matter. It is very shocking to know that Canara Bank pays such empanelled valuer less than Rs.50,000/- and demand indemnity of crores, which is enjoyed by their defaulting borrowers. However, in the subject RFP Number IOW/ CBTL/ RFP/02/2022-23 dated 30.07.2022ISSUED BY:CANARA BANK Overseas Banking Division International Operations Wing2th floor, Head Office (Annex), 2nd Cross, Y Ramachandra Road, Gandhinagar,Bengaluru – 560 009, India Email: email@example.com they have kept professional fees budget of Rs.150 Cr. fees and waived indemnity for their favorite # Big-4. As Bank kept Rs.50 Cr. Average Annual Turnover requirement, which translate to Rs.150 Crore estimated fees. As per rule 33% of estimated budget can be demanded as an average annual turnover. This is clear discrimination with registered valuer real valuation expert of India. Where in unregistered restricted MNC firms are preferred over registered valuer clearly against Make in India and PP Policy,2012. In this scenario as usual regulators, #DIPAM,#SEBI,#CBDT,#RBI and #IBBI officers kept silence due to their direct connections with BIG-4, where in their sons and daughters are given big salaried positions in BIG – 4 in India and outside India. Hence even though there is clear discrimination with registered valuer has awaiting #PM Modi’s attention, on make in India policy to stop Big-4 getting preference over Indian Individual registered valuer. To know more details contact PRO of canara banK