Introduction on the Scope of this Terms & Conditions

The following is the privacy policy statement of Fifty Fintech Private Limited Collectively or separately, “Fifty Fintech”, “we”, “our”, “us” refers to Fifty Fintech Private Limited, and sets forth our policies & practices in connection with personal data that we collect through our website, and any mobile or web-based sites, applications, sales executives, physical or digital forms or other mobile interactive features. "You", "your" refers to you as an individual/ employee/ owner and/or the company or organization you represent and are legally authorized to take business and financial decisions for in dealing with Fifty Fintech and it's authorized third-party vendors. This Privacy Policy outlines practices in relation to the storage, use, processing, and disclosure of personal data that you have chosen to share with us when you use our website.

Under Fintech, the company inter-alia provides to Users, loan facilities against their securities viz., mutual funds and stocks.

The terms and conditions subject to which the Company Services are provided to the Users (as defined below) are mentioned herein and the use of Company Service by Users is subject to the Users’ acceptance of the following terms and conditions (as may be amended from time to time) (“Agreement”/ “Terms of Use”).

You are solely responsible for any content that you submit or upload to our website. By submitting or uploading content to our website, you grant us a non-exclusive, perpetual, irrevocable, royalty-free, worldwide license to use, copy, modify, distribute, and display the content in any media.

You represent and warrant that any content you submit or upload to our website does not violate any third-party rights, including intellectual property rights or privacy rights. We reserve the right to remove any content that violates these terms and conditions or is otherwise objectionable.
As a User (as defined below), You may apply to open a Registered Account (hereinafter referred as “Account”) and avail “Company Services” by: (a) Signing up on the platform with an active mobile number; creating password and verifying with the OTP and (b) by accepting and subscribing this Terms of Use by clicking on “I Agree” button at the end of this Terms of Use (below). Your acceptance of these terms and conditions shall be unconditional and without any limitation or qualification.

PLEASE CAREFULLY READ THESE TERMS OF USE. BY PROVIDING YOUR CONSENT AND/OR USING THIS PLATFORM YOU INDICATE YOUR UNDERSTANDING AND ACCEPTANCE OF THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS OF USE YOU MAY NOT USE THIS PLATFORM/APPLICATION.

You understand, agree and acknowledge that Your setting up of the Registered Account, use of Company Services, use of this Platform/Website/Application and/or Company Services including all information, tools and services available from this Platform to You is conditioned upon Your acceptance of all terms, conditions, policies and notices stated here, the terms whereof are subject to change at any time, without prior notice to You. Any new features or tools which are added to the current Platform shall also be subject to this Terms of Use. To ensure that You are aware of the changes, please review this Terms of Use and all the documents referred to hereunder periodically.

Definition

In this Terms of Use, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

“Applicable Law” shall mean Information & Technology Act 2000, SEBI & RBI regulations and any other applicable Indian statutes, enactments, acts of the state legislature or parliament, laws, ordinances, rules, bye-laws, regulations, notifications, guidelines, directions, directives and orders of any governmental authority, statutory authority, board, any implementing regulation or interpretation issued thereunder including any successor Applicable Law;

“Company Rules” shall mean the ISO 27701 standards the Company comply by and policies issued by the Company with respect to its strategic business partners, retail partners, distributors, Consumers including but not limited to the policy on the code of conduct and other management policies as issued on the Website, Platform and/ or otherwise and amended from time to time;

“Financial Institutions” shall mean the Banks and Financial Intermediaries such as including and not limited to Banks,NBFCs and Depository Participants.

“Force Majeure Event” means any event due to any cause beyond the reasonable control of Company and/or Financial Service Provider, including, without limitation, unavailability of any communication system, breach or virus in the processes or payment mechanism, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, government lockdown, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage device, computer crashes, breach of security and encryption, etc.

“Governmental Authority” means any nation, state, sovereign, or government, any federal, regional, state, local or political subdivision and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, constitutionally established and having jurisdiction over any of the parties (to the extent relevant to the transactions contemplated hereby) or the assets or operations of any of the foregoing or the transactions contemplated hereby; “INR” or “RS” means Indian Rupees, the lawful currency of the Republic of India;

“Intellectual Property” shall mean all intellectual property used for the purpose of or in association with or in relation to providing the Company Services utilizing the Platform and includes without limitation, (a) Software, operating manuals, software code, program, instructions, specifications, processes, input methods, data or information used in relation to, in association with or for the operation of the software installed by Company ; (b) the trademarks, service marks, trade names, business names, logos, symbols, styles, colour combinations used by Company during the course of its business and all depictions, derivations and representations thereof; (c) all promotional material including without limitation, advertisements, literature, graphics, images, content and the ‘look and feel’ of all of the above; and (d) all techniques, formulae, patterns, compilations, processes, inventions, practices, methodology, techniques, improvement, utility model, procedures, designs, skills, technical information, notes, experimental results, service techniques, samples, specifications of the products or services, labelling specifications, rights on software, and any other knowledge or know-how of any nature whatsoever;

“KYC Guidelines” of “KYC” shall mean the Know Your Customer (KYC) guidelines as set forth by Governmental Authority including RBI; Applicant has to provide self-attested copies of valid Proof of Identity, Proof of Address and relevant KYC details as per the KYC guidelines;

“Person” shall mean any individual (including personal representatives, executors or heirs of a deceased individual) or legal entity, including but not limited to, any partnership, joint venture, corporation, trust, unincorporated organization, limited liability company, limited liability partnership or Governmental Authority;

“Platform” shall mean the Software accessible through the Website;

“RBI” shall mean the Reserve Bank of India;

“Registered Mobile Number” shall mean the mobile number of the User registered with the Company at the time of Signing up for setting up of the Account in the Platform.

"Related Entities" shall mean any parent company, subsidiaries, affiliated corporations, partnerships, or joint ventures of the Company; and/or upon instruction of the Consumer on the Platform and/or Website utilizing the Company Services;

“Software” shall include custom built software that is owned by Company, or software that has been licensed from third party suppliers by Company and in relation to which Company has obtained the right to sub license from such third-party suppliers, as modified/ replaced from time to time, that enables Retail Partner to utilize Company Services on communication devices such as computers, mobile phones and other handheld wireless devices etc. as identified by Company from time to time;

“Tax” or “Taxes” shall mean any and all taxes, cess, levies, imposts, duties, charges, deposits, fees, deductions or withholdings that are, or that are to be, imposed, levied, collected, withheld or assessed, together with any and all interest, penalties, claims or other liabilities arising under or relating thereto;

“User” or “You” or “Your”; shall mean any natural or legal person who has access to and is using the Platform for the purpose of availing loan services by opening an Account in accordance with this Terms of Use, including but not limited to such users who have not created an Account and are accessing the Platform without such an Account; and

“Website” shall mean and include https://www.50fin.in/ , mobile application of Company, any successor website/ applications, any website of Related Entity or any other channel facilitated and permitted by Company including but not limited to App, any other digital medium including phone, displays, emails, social media interfaces, messaging interfaces, wallet, payment intermediaries using Company’s interface.

“Transaction” shall mean the loan transaction in this platform including and not limited to the transactions linking user bank account, CAMS/Karvy Account and anything incidental and ancillary thereto.

Interpretation

The terms referred to in this Agreement shall, unless defined otherwise or inconsistent with the context or meaning thereof, bear the meanings ascribed to them under the relevant statute/legislation.
Reference to statutory provisions shall be construed as meaning and including references also to any amendment or reenactment for the time being in force and to all statutory instruments or orders made pursuant to such statutory provisions.

Words denoting the singular shall include the plural and words denoting any gender shall include all genders.

Headings, subheadings, titles, subtitles to clauses, sub-clauses and paragraphs are for information only and shall not form part of the operative provisions of this Agreement or the annexures hereto and shall be ignored in construing the same.

References to days, months and years are to calendar days, calendar months and calendar years, respectively.

Unless otherwise specified, time periods within or following which any payment is to be made or act is to be done shall be calculated by excluding the day on which the period commences and including the day on which the period ends and by extending the period to the next day of the last day of such period is not a day of which Company and/or banking institutions in India are open for general business;

Any reference to “writing” shall include printing, typing, lithography, transmissions by facsimile or in electronic form (including e-mail) and other means of reproducing words in visible form including but not limited to any instructions provided by the Company in the Website and/or the Platform.

The words “include” and “including” are to be construed without limitation.

No provisions shall be interpreted in favor of, or against, any party by reason of the extent to which such party or its counsel participated in the drafting hereof or by reason of the extent to which any such provision is inconsistent with any prior draft hereof.

Conditions of Use

These terms applies to any person who accesses or avails any service on our platform for any purpose. It also applies to any legal entity which may be represented by any person who accesses or avails any service on the Website, under actual or apparent authority. User(s) may use this Website to avail the company services available on the website.
User agrees and undertakes that it shall utilize the Company Services only through the User Account in accordance with these Terms and Conditions and relevant regulations.

Company Services can only be availed by an individual who is above the age of 18 (Eighteen)years.

To avail of the Company Services from the website, the User Shall Sign-up on the platform and get the account activated by the Administrator.

The User, at the time of Signing up on the platform, confirms that the User is of sound mind.

The User(s) agrees and Undertakes that they Shall Sign-up/Sign-in on the platform to apply for and take a loan against their securities.

The User(s) agrees and Undertakes that they verify the PAN details to know their eligibility for the loan process.

The User(s) agrees and Undertakes that they verify their ‘securities’ portfolio to know their eligibility for the loan process.

The User(s) agrees and Undertakes that they enter/update their basic details for them to be uniquely identified on the platform.

The User(s) agrees and Undertakes that they pledge their securities in order to apply for the loan.

The User(s) agrees and Undertakes that they link their CAMS/Karvy Account to pledge their stocks in order to apply for the loan.

The User(s) agrees and Undertakes that they link their bank account in order to get the loan amount in their bank account.

The User(s) agrees and Undertakes that they perform CKYC in order to be verified by financial institutions to be eligible for taking a loan on the platform.

The User(s) agrees and Undertakes that for the purpose of CKYC verification by the financial institutions, the DigiLocker may be fetched and the User agrees and undertakes to upload the PAN and AADHAR for the purpose of said verification.

The User(s) agrees and Undertakes to sign an E-Agreement for the purpose of availing the loan facilities from the Platform.

The User(s) agrees and Undertakes to maintain all the loans taken from Fintech using a single dashboard in order to see all the relevant data for all the loans taken.

The User(s) agrees and Undertakes to pay off their debts at any given time for any of the loans that they have taken from the platform.

The User(s) agrees and Undertakes to pre-close their loan in order not to incur any interest on the outstanding tenure.

The User must ensure that the Registered Phone Number has an active connection at all times. The user shall immediately inform Company in writing in the event of any change, cancellation, disruption, termination or surrender of the Registered Phone Number.

The user shall immediately inform the Company in writing in the event of any closure of the Bank Account or CAMS/Karvy Account linked with the Platform.

Whilst availing the services from the company, the User is required to give the name of the nominee. In case of the death of the User, the loan facilities / loan dues if any is not paid off shall stand transferred to the nominee on presenting the death certificate.

The User is required to pay the monthly charges and interest timely, failing in doing so the lender shall hold the power to deduct the charges from the User account as per the loan agreement with the lender.

The Website is an online platform that User utilizes to avail the loan services by pledging of securities. Fintech is not and cannot be a party to any transaction or dispute between the User on the Platform and the respective Financial Institutions linked to the platform for the purpose of pledging the User securities for availing the said loan services from the platform.

The User acknowledges that any information provided to the Company with the intention of availing the loan services shall vest with the Company (as the case may be), and may be used by the Company, at its discretion, for any purpose consistent with Applicable Laws.

The User acknowledges that any information submitted by the user while using the Company Services, Platform, Website or the Account may be shared with third parties by Company inter- alia, to facilitate the provision of Company Services.

The User shall not utilize Company Services, Platform, Website or the Account for any purpose that might be construed as contrary or repugnant to Applicable Laws, public policy or for any purpose that is contrary to Company Rules or might prejudice the goodwill of Company and/or Related Entities.

The User(s) acknowledges and understands that they are solely responsible for satisfying themselves with the notifications that the Transactions have been successfully completed. Company however will not be held responsible for notifications not reaching the User. As part of the User Policy, the Company will accommodate user requests to inform/update about generated communications.

The Company does not make any representations or warranties regarding specifics of the services proposed to be sold, offered to be sold or availed on the Platform. It does not implicitly or explicitly support or endorse the sale or purchase of any products and services on the Platform. The Company accepts no liability for any errors or omissions of third parties in relation to the services.

The Company is not responsible for any non-performance or breach of any contract/ agreement/ understanding in whatever form stated, between the User and the Financial Institutions whose account is linked to the Platform. The Company shall not and is not required to mediate or resolve disputes or disagreements between the Financial Institutions and the User.

The Company shall not be responsible to send the ID and password to the User, if the User forgets the ID, the User must follow the process of recovering the ID password, which includes clicking on the ‘forget password’ option after which they shall get the link on Email and SMS notification.

If the User is found involved in a fraudulent transaction or makes a default in paying off the debts, the company shall give a warning with a 7-day opportunity to settle the matter. The lender shall also hold the power to impose penalty charges and take necessary action as per the loan agreement.

There are certain free service links available on the website of the company, which open on some other website on clicking. The company shall not be held liable for any work done by it.

In the event, a User shares his password to some other person or if their password/phone gets stolen, and there is some transaction from such phone, the company shall not be held responsible for it.

The User(s) therefore agree that, The Company shall not be liable or responsible for any damages, liabilities, costs, harms, inconveniences, business disruptions or expenditures of any kind that may occur/arise as a result of or in connection with any Transaction Risks. User(s) are solely responsible for all of the terms and conditions of the transactions conducted on, through or as a result of use of any content, information or any other material provided on the Website, including, without limitation, terms regarding payment, returns, warranties, shipping, insurance, fees, taxes, title, licenses, fines, permits, handling, transportation and storage. In the event of a dispute with any party to a transaction, User(s) agrees to release and indemnify the Company (and Our agents, affiliates, directors, officers and employees) from all claims, demands, actions, proceedings, costs, expenses and damages (including without limitation any actual, special, incidental or consequential damages) arising out of or in connection with such transaction.

Changes of Terms

Company shall at their sole discretion, and without notice to the user, alter, modify or amend these Terms of Use from time to time and the same shall be updated and displayed by the Company on its Platform/ Website. The User is expected to keep himself/herself updated with the amendments to the Terms of Use. Any transaction done subsequent to the amendment of the Terms of Use will be considered as User’s acceptance of the amended Terms of Use. Company may modify, terminate and/or suspend Company Services anytime with or without prior notice, due to any changes in internal policies, rules, regulations and laws set by relevant authorities/regulators.

Link to Other Websites

Company may provide links to other websites that are maintained by third parties on the Website. These links are provided for your convenience only and the provision of these links does not mean that Company endorses these websites or the products and services they provide. You acknowledge and agree that Company is not responsible and/or liable for any information/ content or any products/services available on these third-party websites.

Severability

If any part of these Terms of Use is adjudged illegal or inoperable for any reason, the same shall be severed from the remainder of this document and only that portion of this document that is specifically adjudged illegal or inoperable shall cease to govern the relationship between Company and the User.

Ownership & Proprietary Rights

The User agrees that he/she shall have no claims/rights of whatsoever nature in the Intellectual Property including but not limited to any intellectual property rights arising out of and in connection with Platform, Website and/or the Company Services. The User further undertakes that he/she shall not attempt to modify, alter, obscure, translate, disassemble, decompile or reverse engineer the Software underlying application or create any derivative product based on the Software.

Force Majeure

Company shall inform the User of the existence of a Force Majeure Event and shall consult together to find a mutually acceptable solution.

Company shall not be liable for any failure to perform any of its obligations under these Terms of Use or the specific terms and conditions if the performance is prevented, hindered or delayed by a Force Majeure Event and in such case its obligations shall be suspended for so long as the Force Majeure Event continues.

Limitation of Liability

In no event shall the company, its officers, directors and employees, or its contractors, agents, licensors, partners, or suppliers be liable to you for any direct, special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever, including but not limited to abuse or breach of data), even if the company or an authorized representative has been advised of the possibility of such damages, arising out of or relating to : these terms, the platform / website / app, your use or inability to use the platform / website / App; or any other interactions with another user in connection with the app.
Without prejudice to the aforesaid, in no event shall our total cumulative liability to the User for any and all claims relating to or arising out of the User’s use of the platform/ company services and/or website/ application, regardless of the form of action, exceed the amount of service fee chargeable by the company for its services.

In no event shall company be liable to the User (or to any third party claiming under or through the User) for any indirect, special, incidental, consequential or exemplary damages arising from the User’s use of, or inability to use, the platform/ company services and/or website/application.

These exclusions apply to any claims for lost profits, lost data, loss of goodwill, work stoppage, bugs and errors, computer failure or malfunction, any other commercial damages or losses, even if company new or should have known of the possibility of such damages.

Privacy Policy & Data Protection

Any personal information you supply to the Company when using the Services will be used by the Company in accordance with its privacy policy ("Privacy Policy") as available on the Website. Needless to say, the said privacy policy is an addition to and not in derogation of the terms of this agreement.

Disclaimer

Company may suspend or cease the operation of the Platform, Website and/or the Company Services for any reason with or without giving any prior notice. Company reserves the right to change the content on the Website and/or suspend or change the product or Financial Services offered on the Website and/or the Platform. The User agrees that in any mentioned case, he/she will use the Website and/or Platform at his/her own risk and Company is not responsible for any loss or damage.

Privacy Policy

All of the information that Company collects from the User, such as registration details, beneficiary account details and debit/credit card information etc., is subject to the provisions of this Terms of Use.

Waiver

The failure to exercise or delay in exercising a right or remedy provided by this Terms of Use or by law does not constitute a waiver of the right or remedy or the waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this Terms of Use or by law prevents further exercise of the right or remedy or the exercise of another right or remedy. Any waiver must be in writing and signed by the party sought to be bound.

Assignment

This Terms of Use or any right or interest herein, shall not be assignable by the User. Company shall be free to assign its rights, interest and obligations under this Terms of Use to any Person including but not limited to Related Entities.

Mode of Communication

When you use the Platform/Application or send emails or other data, information or communication to us, you hereby agree and understand that you are communicating with us through electronic records and you consent to receive communications via electronic records from us periodically and as and when required. We may communicate with you by email or by other mode of communication, electronic or otherwise.

Notices

All notices or demands to or upon the Company shall be effective if in writing and shall be deemed to be duly made when sent to Fifty Fintech Private Limited. All notices or demands to or upon Agent(s) shall be effective if either delivered personally, sent by courier, certified mail, by facsimile or email to the last-known correspondence, fax or email address provided by the Agent(s) on the Website/App, or by posting such notice or demand on an area of the Website/App that is publicly accessible without a charge.
Notice to Agent(s) shall be deemed to be received by such Agent(s) if and when Website is able to demonstrate that communication, whether in physical or electronic form, has been sent to such Agent(s), or immediately upon Website’s posting such notice on an area of the Website that is publicly accessible without charge.

Governing Law & Dispute Resolution

This Agreement will be governed by and construed in accordance with the laws of the Republic of India. The Courts in Bengaluru, Karnataka shall have exclusive jurisdiction over any dispute arising from use of Company Service, Platform and/or Website.
Any dispute under this Agreement between the Company and the Users shall be referred to Arbitration to be conducted as per the Arbitration and Conciliation Act, 1996, as applicable at the time including such amendments that may be made, by a single Arbitrator to be appointed at the sole discretion of the company. The seat of arbitration shall be at Bengaluru, Karnataka, India and the language of the Arbitration shall be English.

Term & Survival

This Terms of Use is effective until: (a) terminated by Company and Company reserves the right to terminate this Terms of Use; and/or (ii) upon User ceasing to hold the Account. The provisions of this Terms of Use which by their nature are intended to survive the termination or expiration of this Terms of Use.

Entire Agreement

The "Terms" including the Privacy Policy and Cancellation Policy constitutes the entire agreement between You and the Company and governs Your access and use of the Services, superseding any prior agreements between You and the Company with respect to the Website and its Services.

Self-Declaration

I hereby declare that I have read and understood all terms and conditions of this Terms of Use. Accordingly, I would wish to use the Platform, Website and/or avail the Company Services. I hereby give my consent to be bound by provisions of this Terms of Use.