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Terms of Use

As approved by board on 20th July 2018

PLEASE READ THESE TERMS AND CONDITIONS ("TERMS AND CONDITIONS") CAREFULLY. THESE TERMS AND CONDITIONS FORM A LEGAL AGREEMENT BETWEEN ETYACOL TECHNOLOGIES PRIVATE LIMITED AND YOU

Introduction

Cashkumar is a trade name owned by Etyacol Technologies Private Limited and is an intermediary NBFC-P2P under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through electronic platforms of website and/or mobile app.

These Terms of Use is an electronic record in terms of the Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and Terms of Use for access or usage of the Site.

By accessing the site through any of the electronic devices you acknowledge, accept and agree to the following terms of the Terms of Use, which are designed to make sure that this Site works for everyone. These Terms of Use is effective from the time you log in to the site. By accepting these Terms of Use, you are also accepting and agreeing to be bound by the Privacy Policy which is available at https://cashkumar.com/privacy-policy and amended from time to time.

BY USING THE WEBSITE, YOU AGREE TO THE TERMS of use and the PRIVACY POLICY. IF YOU DO NOT AGREE WITH THE TERMS of use and the PRIVACY POLICY, PLEASE DO NOT PROCEED FURTHER TO USE THIS WEBSITE.

GENERAL TERMS AND CONDITIONS
1. TERMS OF USE:

1.1 https://cashkumar.com ("Website") is owned and operated by Etyacol Technologies Private Limited, a private limited company incorporated under Companies Act, 1956 bearing CIN U72200KA2012PTC063749 with its registered office at 346-4, 4th Main Road, Upper Palace Orchards, Sadashivanagar, Bangalore-560080 (hereinafter referred to as "Cashkumar" or "company" or "we" or "us", which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to include its successors, affiliates, partners and permitted assigns)

1.2 The company and its website endeavors to facilitate a loan transaction (Services) between borrowers and lenders in accordance with the license issued to it by the RBI as a NBFC-P2P

1.3 The company shall follow the directions issued by the Reserve Bank of India for NBFC-P2P companies, Cashkumar does not assure lenders on its platform any expected returns or principal protection.

1.4 The terms and conditions set out herein shall define the usage of the site and application by the users for the services and/or information provided. These terms and conditions are also applicable to all visitors on the site

2. DEFINITIONS

2.1 "Account" shall mean the account opened by the User on this Website subsequent to the registration process on this Website and shall include both Borrower account and Investor account.

2.2 "Applicable Laws" shall mean the laws of India.

2.3 "Borrower" shall mean an individual resident in India, who is willing to borrow, using the Website and is registered as a ‘Borrower’ on the Website

2.4. "Data" shall include and be applicable to any or every information revealed or shared by users of the site including but not limited to identity details, KYC, communication details, Information protocol, pan card, driving license, voter ID, aadhar card, rent receipts, bank statements, salary slips, loan history, credit reports, passport, phone bills, OTPs, tan number, credit card numbers, loans payment details, employment details, contact details of references, contact details of guarantors, location, social media profile and updates, employment related details, phone bills, electricity bills, sale deeds, property tax receipts, office numbers and any other such data or information communicated to Cashkumar at the time of registration or through any other sources during the transaction cycle on the site or the app.

2.6 "Force Majeure Event" shall mean any event that is beyond the reasonable control of Cashkumar and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of Cashkumar and which Cashkumar is not able to overcome.

2.7 "Lender/Investor" shall mean any Person permitted to lend in India, in accordance with applicable laws, who is willing to lend/invest on the Website and is registered as a ‘Lender’ on the Website.

2.9 "Person" shall mean any of the following: an individual, a karta of a Hindu undivided family (HUF) acting on behalf of such HUF as the case maybe.

2.11 "P2P Regulations" shall mean Master Directions – Non-Banking Financial Company – Peer to Peer Lending Platform (Reserve Bank) Directions, 2017 dated October 4, 2017, as amended from time to time.

2.12 "Privacy Policy" means the privacy policy for the access/use of this Website and/or Services, as available on this Website.

2.13 "Registered User" shall mean any User who has created an Account and is registered on this Website.

2.15 "User" or "End-User(s)" or "you" or "your" shall mean any person who accesses, downloads, uses and/or views this Website and/or the Services and shall include without limitation, any Registered User - Borrower and Investor/Lender.

2.16 "Website" or "our Website" or "the Website" or "this Website" shall mean https://cashkumar.com, which is owned by Etyacol Technologies Private Limited.

3. ACCEPTANCE OF TERMS AND CONDITIONS

3.1 Cashkumar reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms, at any time without any prior written notice to the User. It is the User’s sole responsibility to review these Terms periodically for updates or changes. The User’s continued use of the Website or Services following the posting of changes shall be deemed to mean that the User accepts and agrees to the revisions. As long as the User complies with these Terms, Cashkumar grants the User a personal, non-exclusive, non-transferable, limited privilege to enter and use the Website.

3.2 By accessing the Site through any of the electronic devices You acknowledge, accept and agree to the following Terms of Use, which are designed to make sure that this Site works for everyone. These Terms of Use is effective from every time you access this Site and App. By accepting these Terms of Use, You are also accepting and agreeing to be bound by the Privacy Policy which is available at https://cashkumar.com/privacy-policy which will be amended from time to time

4. ELIGIBILITY

Use of the Website is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Website. Cashkumar is rigid in its policy of accepting lending requests starting with the age of 18 and borrower requests starting with the age of 21 and ending with the age of 56 at the time of loan approval. Notwithstanding such accordance with criteria, Cashkumar reserves the right to decline and/or terminate any request if it is proven that the User does not meet the set criteria.

5. REGISTRATION

5.1 The Website allows very limited and restricted access to the Services for unregistered users. In order to avail of/view the Services and/or Content you are required to create an Account and become a Registered User. Creation of an Account involves the following:

i. In case of Borrower – entering the basic details like loan amount requirement, employment details, date of birth, name, e-mail address and contact number.

ii. In case Lender – Entering basic information on this website such as name, e-mail address, contact number.

iii. For Lenders & Borrowers, next step is creating login id and password

iv. Last step is verification of e-mail address and mobile number verification

5.2 By registering on the website, the User agrees and authorizes Cashkumar to carry out such checks and verification including but not limited to:

a) Carrying out identity checks and KYC checks by using various online platforms like Income Tax site or UIDAI website and such other sites.

b) Obtaining Credit Rating for Users from Credit Information Bureau

c) Carrying out residence and/or work verification either by self or by hiring some third party to carry out on the behalf of Cashkumar

5.3 The Lenders and Borrowers shall be responsible for maintaining confidentiality of their account information and shall be responsible for all the activities that occur under their Accounts.

5.4 The Lenders and Borrowers shall ensure that the Account information provided by them on the website during the registration process for creation of the account is complete, true, accurate and up-to-date.

5.5 If Cashkumar has reasonable grounds to suspect that the information provided by the Lender or the Borrower is untrue, inaccurate, incomplete or not in accordance with these terms, then Cashkumar shall have the right to indefinitely suspend or terminate or block the access to their account on the website and refuse to provide them access to the Website.

5.6 By registering on the website, you consent to be contacted by us and by the service provider or financial partner via phone calls (including IVRS calls) and/or SMS notifications to provide you related updates pertaining to the transaction intended through the site. This consent will override any "do not disturb" (DnD) preferences set at your end with your telecom service provider. We will not use your personal information to initiate any promotional phone calls or SMS. You agree that we may also provide you with notices and other information related to the services through electronic means including but not limited to SMS, emails, mobile notifications etc as and when required.

6. USE OF WEBSITE

6.1 All the registered users of Website shall solely be responsible for activities relating to their accounts and Cashkumar shall in no matter be responsible and/or liable for any unlawful acts including but not limited to misuse, unauthorized access etc.

6.2 The visitors and users of the site shall commit not to access, download, host, showcase, edit, alter, display or send create, advertise any information which violates privacy policies of the site, company or other users of the site

6.3 The visitors and users of the site shall commit not to upload any software, programs or data which might harm the information systems of the company and/or hinder the normal flow of business operations. In case the user is aware of any potential harm, they shall refrain from using the site and App voluntarily and also inform the company of such a threat.

6.4 The Users hereby agrees that Cashkumar shall not be held liable for any unlawful usage of Website, the personal information of the User or inaccessibility of the website for any reason which are caused owing to causes beyond control of the Website. The User acknowledges that Cashkumar employs best efforts to ensure the aforesaid however it cannot guarantee the same.

6.5 Cashkumar reserves the right to cancel registration of Users or suspend, terminate or block access fully or partially to use of Website at anytime without notice.

7. TERMS & CONDITIONS OF SERVICE

7.1 The Borrower registers on the platform by placing loan request and purpose for the same.

7.2 The individuals who are willing to lend money, register as Lenders on the platform by entering basic details.

7.3 On registering on the platform, the Users give an exclusive right to Cashkumar to conduct checks, verification (house and workplace verification) and obtain their credit rating from the Credit Information Bureau in India.

7.4 Cashkumar relies on third party vendors to undertake credit checks, bank statement analysis, social profile analysis, house and/or office verification, eKYC and all related services not limited to these. Borrowers, by using this site, agree and give their consent to such third party vendors as deployed by Cashkumar to undertake their duties for the fulfillment of their loan approval process. The company interprets the reports on face value and is not liable for discrepancies arising from a fault in the processes of these third party vendors. Depending upon the result from such checks, Cashkumar shall be at its discretion to either approve or reject the loan. If the loan has been approved, Cashkumar will then communicate to the Borrower about the loan amount, interest rate and tenure. The Borrower can either accept the counter offer or withdraw the loan request.

7.5 It is hereby clarified that once the Borrower gives his acceptance, the details of the Borrower would be listed on the Platform and only registered lenders would be able to view the same.

7.6 Loan listing would be viewable on platform three times during the day – 12 noon, 4 PM and 8 PM

7.6 Lenders on registering, invest a certain amount they wish to lend which is hereinafter referred to as “Committed Investment Amount”. The Borrower request shall be funded out the committed funds of Lenders.

7.7 Once the Borrower request is fully funded, Cashkumar will then proceed with documentation and disbursals

7.8 Cashkumar will send the Borrowers the loan agreement and the Borrowers are requested to take the print of the same and send the signed agreement along with the NACH form and signed blank cheques to Cashkumar. Please note that the printing charges, courier charges or any other such charges incurred by the Borrower are NON-REFUNDABLE in any case.

7.9 Upon receipt of the signed and executed loan agreement, the loan amount would be disbursed into the Nodal Account of the Borrower. The terms and conditions of loan and obligations of the borrower and lender shall be governed by the Loan agreement.

7.10 The Lenders hereby represents and warrants that the funds disbursed by the Lender shall at all times be from legitimate sources and there is no international flow of funds.

7.11 Further the lenders and borrowers hereby represents and warrants that the aggregate exposure of a lender to all borrowers and the aggregate loans taken by a borrower at any point of point, across all P2Ps, does not exceed ₹ 10,00,000/-. Also the exposure of single lender to the same borrower, across all P2Ps, does not exceed ₹ 50000/-

8. LICENSE

Cashkumar grants you a non-transferable, non-exclusive, revocable, limited license to access and make use of/view this Website, the Content and the Services only as expressly permitted in these Terms and Conditions. Cashkumar may, from time to time, update or modify this Website, release new versions of this Website, which may, at Cashkumar’s discretion, be included within the said license Any unauthorized use of the Website shall terminate the permission or license granted by Cashkumar.

9. CONFIDENTIALITY & PRIVACY

9.1 It is agreed by accessing this Website and by registering on the Site, you are responsible for maintaining the confidentiality of your User ID, password, email address and for restricting access to your computer, computer system, computer network and your Site account, and you are responsible for all activities that occur under your User ID and password. If you access the Site using any electronic device other than by registration on the Site, the Terms of Use remains applicable to you in the same manner as if you are a registered user on the Site.

9.2 Cashkumar takes reasonable efforts to protect your Data and keeping it confidential from unauthorized access or disclosure. The Privacy Policy published on the Website shall be read in conjunction with these Terms and Conditions. Please read the Privacy Policy carefully to understand our practices.

10. THIRD PARTY ADVERTISEMENT

The Website may contain links to advertisements or of data from third party websites or services or products (“THIRD PARTY ADVERTISER”). Cashkumar is not responsible or liable for any content, functionality, actions, settings or any other material on such third party websites. Cashkumar has no control over such sites and does not endorse and is not responsible for any content therein. Cashkumar shall not be held responsible or liable, directly or indirectly, for any damage or loss by or in connection with use of or reliance on any such content, goods or services available on or through any such site or resource.

11. INTELLECTUAL PROPERTY

11.1 All the content on this Website and/or services rendered including but not limited to appearance on the Website are protected by copyright, trademark, patent and other intellectual property laws of India.

11.2 All trademarks, patents, copyrights and other intellectual property rights are owned by either the Website or the third-party sellers and suppliers, as the case may be and shall continue to be owned solely by such party and nothing in this User Agreement shall be deemed to confer any rights to any such intellectual property on the other party.

11.3 The User acknowledges and agrees that it shall not sell, license, transmit, publish, edit, adapt, modify, reproduce, distribute, remove or alter or in any way infringe the Intellectual Property Rights without obtaining necessary authorization from the Website and/or the third party owner of such IPR.

12. TERMINATION

12.1 Cashkumar may terminate your access to the Site and its related Service, without cause or notice, which may result in the forfeiture and destruction of all information associated with your account.

12.2 If the User wishes to terminate their account they may do so by following the instructions on the Site. Any fees or charges for availing the Services paid to us are non-refundable.

13. REPRESENTATION AND WARRANTIES

This Site, all the materials and Services, included on or otherwise made available to Users through this Site are provided on "as is" and "as available" basis without any representation or warranties, express or implied except otherwise specified in writing.

Users agree that they are the lawful owner having all rights, title and interest in their information, and further agree that they are solely responsible and accountable for the information which they have provided through this Site to any other user and/or service provider and that Cashkumar acts as a mere platform for their online distribution and publication of such information.

Users agree that their listing, posting, information and/or service offered through this Site shall:

13.1 not infringe any intellectual property, trade secret, or other proprietary right or rights of publicity or privacy of any third party;

13.2 not consist of material that is an expression of bigotry, racism or hatred based on age, gender, race, religion, caste, class, lifestyle preference, and nationality and / or is in the nature of being derogatory, slanderous to any third party;

13.3 not distribute viruses or any other technologies that may harm the Site or the interests or property of other users or impose an unreasonable load on the infrastructure or interfere with the proper working of the Site;

13.4 not, directly or indirectly, offer, attempt to offer, trade or attempt to trade, exchange or attempt to exchange, buy or attempt to buy, sell or attempt to sell any services, the dealing of which is prohibited or restricted in any manner under the provisions of any applicable law, rule, regulation or guideline for the time being in force.

Further the Users agree that they are well aware of the RBI guidelines and that:

The lender hereby represents and warrants that the aggregate exposure of a lender to all borrowers across all P2Ps at any point of time does not exceed the cap of ₹10,00,000/- and also exposure to the same borrower, across all P2Ps does not exceed ₹ 50000/-

Similarly, The Borrower hereby represents and warrants that the aggregate loans taken by a borrower at any point of time, across all P2Ps at any point of time does not exceed the cap of ₹10,00,000/- and also loan availed from the same lender, across all P2Ps does not exceed ₹ 50000/-

Also, the money invested by the Lenders is from genuine source and there is no international flow of funds involved.

14. LIABILITY

Under no circumstances shall Cashkumar, its directors, employees or agents shall be liable for:

i. any damage or loss arising out of any faulty/incorrect/incomplete information supplied by the Users.

ii. any applicable, inapplicable, functional, punitive, legal, regulatory, business, damages arising, out of actions which are inside or outside the control of the company. Any indications to such a prospect shall result in immediate termination of the rights of a user to access this website or App

iii. any shortage or non-fulfilment of the Services on this Website or any other site inter alia arising out of technical failure, malfunctioning, etc.

iv. any unavailability of the Services due to any inability, delay or failure of the Investors and/or the Borrowers to accept the terms and conditions contained in the Loan Agreement;

v. the accuracy, reliability, completeness, and/or timeliness of any Content, software, text, graphics, links or communications provided on or through the access and/or use of this Website and/or the Services;

vi. any and all costs, charges, expenses, etc. incurred in relation to the downloading fees/charges by third party service providers, ISP connection hosts, etc.

15. GOVERNING LAW, DISPUTE RESOLUTION & JURISDICTION

Use of this Website and these Terms and Conditions shall be governed by the laws of India. Any disputes, controversies or claims arising out of these Terms and Conditions or any provisions stated herein or between us and any User or Registered User or Borrower or Investor as the case maybe, shall be subject to the exclusive jurisdiction of the courts of Bangalore, Karnataka.

Any dispute, differences or controversy of whatever nature and howsoever arising under or out of or in relation to these Terms of Use, or Privacy Policy and other notifications published on the Site (the ‘Dispute’) shall, in the first instance be attempted to be resolved amicably. Any Dispute which is not resolved amicably by conciliation within the period of 30 days shall be finally decided by arbitration in accordance with and subject to the provisions of the Arbitration and Conciliation Act, 1996. The Venue of such Arbitration shall be city of Bangalore, Karnataka, India and language of Arbitration shall be English. The award passed in such arbitration shall be final and binding upon the Parties to the dispute and Users shall bear all costs and expenses (including attorney fee) related to such arbitration proceedings.

16. GRIEVANCE REDRESSAL MECHANISM

In accordance with the Information Technology Act, 2000 and Rules made thereunder, the details of Grievance Officer are provided below:

Name of Grievance Officer: Dhiren Makhija

Address: 37-1/1, R K Chambers, First Floor, Aga Abbas Ali Road, Ulsoor, Bengaluru - 560042

Mobile number: +91 8884290234

Email: complaints@cashkumar.com

In the event of any complaints regarding any violation of provisions of these Terms of Use or any grievances or discrepancies of Users pertaining to any personal information furnished by them, they may write to the designated Grievance Officer who shall redress the complaint within 7 (seven) working days of the date of receipt of such complaint.

17. FORCE MAJEURE

In case of any delay or failure in performance of any services or obligations under these Terms and Conditions as a result of Acts of God (including fire, flood, earthquake, hurricane or any other natural disaster), war, invasion, act of foreign enemies, hostilities (regardless of whether war is declared), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation, terrorist activities, nationalization, government sanction, blockage, embargo, labour dispute, strike, lockout, robbery, theft of data or any interruption or any failure of electricity or server, system, computer, internet or telephone service or any such acts whatsoever which are beyond control of Cashkumar then in such case Cashkumar shall not be held liable to perform its obligations and shall be discharged from such performance to the extent of and during the period of such Force Majeure event. Such non-performance shall in no matter whatsoever amount to breach of its obligations contained herein.

18. INDEMNITY

Users agree to defend, indemnify, and hold harmless Cashkumar, its employees, contractors, officers, directors, and agents from all liabilities, claims, and expenses, including attorney’s fees, that arise from:

I. Use or misuse of this site by the Users;

II. Violation of any term of terms of use, including without limitation, your representation and/or warranty by the Users;

III. Violation of any third party right, including without limitation any copyright, trademark, trade secret or other property, or privacy right by the Users;

IV. Any claim that Users content caused damage to a third party.

We reserve the right, at our own expense, to assume the exclusive defence and control of any matter otherwise subject to indemnification by Users, in which event Users will co-operate with us in asserting any available defences.

19. SEVERABILITY & ASSIGNMENT

If any part of these Terms of Use or Privacy Policy is held invalid or unenforceable, that portion shall be construed in a manner consistent with applicable law to reflect, as nearly as possible, the original intentions of these Terms of Use and the remaining portions shall remain in full force and effect. Users shall not assign any rights or obligations, or liabilities created hereunder to any third party, however Cashkumar reserves the right to assign any right or obligations or liabilities to any third party.

20. RIGHT TO TERMINATE

Cashkumar may terminate Users access to the Site and its related Service, without cause or notice, which may result in the forfeiture and destruction of all information associated with Users account. If Users wish to terminate their account, they may do so by following the instructions on the Site. Any fees or charges for availing the Services paid to Cashkumar are non-refundable.

21. CONTACT US

For any query or assistance, feel free to contact us on the following address:

Name of Person: Dhiren Makhija

Designation: Director

Email: support@cashkumar.com

21. RBI DISCLAIMER

It is hereby clarified that the Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Etyacol Technologies Private Limited (Cashkumar), and does not provide any assurance for repayment of the loans lent on the Website.