Terms & Conditions


PLEASE READ THE TERMS AND CONDITIONS ("TERMS" or "T&C") CAREFULLY. THIS IS A LEGALLY BINDING AGREEMENT BETWEEN YOU, THE USER, AND JAYANTH FINANCIAL SERVICES PRIVATE LIMITED ("JAYANTH") AND ALL ITS FELLOW SUBSIDIARIES, GROUP COMPANIES AND PERMITTED ASSIGNS ESTABLISHING THIS TERMS AND CONDITIONS.

BY ACCESSING PRODUCTS OF JAYANTH AND/OR USING THE INFORMATION OR SERVICES PROVIDED BY JAYANTH, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS.



This Loan Application – Terms and Conditions (“Terms & Conditions”) is published in compliance of and shall be governed by Indian law, including but not limited to
(i) The Indian Contract Act, 1872;
(ii) The Information Technology Act, 2000, the rules, regulations, guidelines and clarifications framed thereunder including the Information Technology (Reasonable Security Practices And Procedures And Sensitive Personal Information) Rules, 2011, and the provisions of rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011;
(iii) The Payment And Settlement Systems Act, 2007 and applicable rules, regulations and guidelines made thereunder; (
(iv) Bankers’ Book Evidence Act 1891 and
(v) Reserve Bank of India Act, 1934 and the applicable rules, regulations and guidelines made thereunder. This Terms & Conditions is an electronic record in the form of an electronic contract formed under Information Technology Act, 2000 and rules made thereunder and the amended provisions pertaining to electronic documents / records in various statutes as amended by the Information Technology Act, 2000. This Terms & Conditions does not require any physical, electronic or digital signature.


This Terms & Conditions is a legally binding document between you and Jayanth Financial Services Private Limited (terms defined below). This document will be effective upon your acceptance of the same (in electronic form or by means of an electronic record or other means) and will govern the relationship between you, Jayanth.

1. For the purpose of these Terms of Use, wherever the context so requires-
a) “You/Your”, “Customer” or “User” shall mean any natural or legal person who has accepted these Terms of Use.
b) “Jayanth” shall mean Jayanth Financial Services Private Limited.
c) “Loan” shall mean various lending product offered by Jayanth through digital applications to the Customer on the terms and conditions agreed with the Customer.

2. You understand that Loan, if approved, shall be granted by Jayanth.

3. These Terms & Conditions and all applicable T&C including Sanction Letter, Loan Agreement etc, as the case may be, issued by Jayanth shall govern your rights and obligations as a Customer for the Loan availed from Jayanth. You understand and acknowledge that the Loan availed through mobile application of Jayanth lending partners is provided by Jayanth company.

4. Your assess to and use of the Jayanth lending partners mobile application and the loan services available on such mobile application or otherwise are conditional upon your acceptance of and continuous compliance with these terms and conditions at all times.

5. Loan can be availed only by the Indian Citizen and who are competent to enter into legally binding contracts under the Indian Contract Act, 1872. Any person who shall be considered as incompetent to contract as per the provisions of the Indian Contract Act, 1872, including minors, un-discharged insolvents, etc., are not eligible to avail Loan.

6. You agree that the personal information such as name, address, contact number, bank account information, financial / transactional details etc. (“Personal Information”) you provide to us upon registration and at the time of availing the Loan and at all other times will be true, accurate, current and complete. You agree to maintain and update the Personal Information and to keep the Personal Information true, accurate and complete.

7. You hereby agree and acknowledge that your Personal Information shared with Jayanth will be shared with respective lending partners Credits while applying Loan for loan application assessment and other connected purposes.

8.You hereby agree and acknowledge that upon availing loan all the terms and conditions mentioned in the “Terms and Conditions for obtaining loans from Jayanth Financial Services Private Limited” shall be applicable.

9. You hereby consent to receive various loan offers or promotional schemes provided by Jayanth from time to time by phone calls, SMS, WhatsApp, electronic mails or through any other mode of communication. You further consent that Jayanth and/ or his authorised representative may communicate with you either by phone calls, SMS, WhatsApp, electronic mails or through any other mode of communication available for the purpose of sending or discussing the current status of you Loan(s), account activity or reminder/ collection of any dues in respect of any loan or for any matter related to the loan(s) and such phone calls, SMS, etc., shall not be covered under the purview of “Do Not Disturb” policy of the Telecom Regulatory Authority of India (TRAI).

10. To avail Loan, fulfilment of KYC norms and submission of necessary information with Jayanth is mandatory. In case you have submitted your KYC with Jayanth, then your KYC may be shared with its business partners for loan related services.

11. You hereby you give your explicit consent to Jayanth to check your credit bureau information and use the same whenever its required and do necessary reporting to credit bureaus, as and when required. You also agree and authorize Jayanth to generate subsequently an additional report through Credit Information Companies (CICs)

12. You understand and acknowledge that your loan application is not the guarantee of the loan approval or disbursal and the same shall be at the absolute discretion of Jayanth and/ or Partner only.

13. You authorize Jayanth to share your all or any information with the any statutory/ regulatory authorities, as appropriate or its group company(s) or its authorised service providers or to its business partners from time to time.

14. You hereby consent for receiving information from Central KYC Registry through SMS/Email on the registered number/email address.

15. You hereby understand and acknowledge that in the loan process, you will be redirected to the bank account statement fetching partner, and your account statement will be used to assess your Loan application.

16. You agree to provide e-NACH / other mandate favouring Jayanth for collections account as may be instructed by Jayanth. You shall not close your bank account or withdraw the e-NACH / other mandate without prior intimation of 30 days to Jayanth in writing and in case such an banks account is closed, you shall substitute suitably substitute e-NACH / other mandate as directed by Jayanth.

17. Changed Terms: The Company shall have the right at any time to change or modify the terms and conditions, or any part thereof, or to impose new conditions, including but not limited to, adding fees and charges for use. Such changes, modifications, additions or deletions shall be effective immediately upon notice thereof, which may be given by any means, including but not limited to, posting on the Website, or by electronic or conventional mail, or by any other means by which you obtain notice thereof.



BORROWER’S COVENANTS, REPRESENTATION AND WARRANTIES
1. The Borrower shall:
a. observe and perform all its obligations under the Financing Documents.
b. immediately deliver to Jayanth all documents, including bank account statements as may be required by Jayanth from time to time. The Borrower also authorizes Jayanth to communicate independently with (i) any bank where the Borrower maintains an account and to seek details and statement in respect of such account from the bank and (ii) with any employer of any Borrower as Jayanth may deem necessary, including for monitoring Borrower’s creditworthiness.
c. immediately notify Jayanth of any litigations or legal proceedings against him/them.
d. promptly notify Jayanth of any Material Adverse Effect or Event of Default.
e. promptly inform Jayanth of any force majeure event or act of God such as earthquake, flood, tempest or typhoon, etc or other similar happenings;
f. notify Jayanth in writing of all changes in the location/ address of office /residence /place of business or any change/resignation/termination / closure of employment/ profession /business.
g. Not leave India for employment or business or long term stay abroad without fully repaying the term loan then outstanding, together with interest and other dues and charges.
h. Ensure deposit of salary and / or business proceeds in the account from which PDCs/ECS have been issued to Jayanth.
i. On or prior to the disbursal take a credit life insurance policy as required by Jayanth which shall include a cover for accidents, death, permanent disability and unemployment and such other terms as shall be acceptable to Jayanth.
j. comply at all times with applicable laws, including, Prevention of Money Laundering Act, 2002.
k. Utilise the term loan only for the Purpose.
l. Pay regularly all taxes, assessments, dues, duties, levies and impositions as may, from time to time, be payable to any government or statutory or regulatory body or authority;
m. Perform, on request of Jayanth, such acts as may be necessary to carry out the intent of the Financing Documents;
n. Promptly inform Jayanth of any distress or other process of court being taken against the Borrower’s premises and/or property and/or assets.
o. during business hours, permit Jayanth, or its authoirsed representatives, or agents, to inspect Borrower’s place of business or residence. Further, the Borrower hereby agrees to permit Jayanth and its authorized representatives to contact/ meet the Borrower at his/ her place of residence for collection of dues under the Financing Documents.

2. Each Borrower represents and warrants to Jayanth as under:
a. All the information provided by Borrower in the Loan Application and any other document, whether or not relevant for the ascertaining the credit worthiness of the Borrower, is true and correct and not misleading in any manner;
b. The declaration made by the borrower pertaining to the household income is true and correct.
c. The Borrower is capable of and entitled under all applicable laws to execute and perform the Financing Documents and the transactions thereunder;
d. The execution, delivery and performance of obligations under the Financing Documents are within the powers of the Borrower, do not contravene any contract binding on or affecting any of the properties of the Borrower, and do not violate any applicable law or regulation;
e. No extraordinary circumstances shall have occurred which shall make it improbable for the Borrower to fulfill its obligations under the Financing Documents;
f. The Borrower is above 18 years of age, of sound mind, a resident of India and is competent to enter into an agreement.
g. This T&C is a legal, valid and binding obligation on the Borrower, enforceable against him/her in accordance with its terms;
h. The Borrower declares that he/she is not prohibited by any law from availing this term loan;
i. No event has occurred which shall prejudicially affect the interest of Jayanth or affect the financial conditions of Borrower or affect his/her liability to perform all or any of their obligations under the Financing Documents;
j. There is no pending or threatened action which may materially adversely affect the validity or enforceability of the Financing Documents.
k. The Borrower has the ability to meet all of his/her obligations as they mature;
l. Borrower is not in default of payment of any taxes or government dues;
m. The Borrower will do all acts, deeds and things, as required by Jayanth to give effect to the terms of this T&C;
n. No bankruptcy or insolvency proceedings has been commenced against the Borrower. Further, the Borrower has not taken any action for its insolvency, bankruptcy, or for appointment of an insolvency professional as the resolution professional or bankruptcy trustee, or other similar official for it or for all or substantially all his/her undertaking, assets and properties;
o. The Borrower has not been engaged in (a) any corrupt/ fraudulent practices/ collusive/ coercive practices; (b) money laundering; or (c) the financing of terrorism;
p. Particulars of the residential and official addresses of the Borrower, as last provided by the Borrower to Jayanth is valid and subsisting and any one of the said addresses shall deemed to be the valid address for correspondence unless otherwise notified to Jayanth by the Borrower in writing; and;
q. No Event of Default has occurred or is likely to occur.

The Borrower gives its consent to Jayanth to use/store all the information provided by the Borrower or otherwise procured by Jayanth in the manner it deems fit including for the purposes of this Loan or for its business and understands and agrees that Jayanth may disclose such information to its contractors, agents and any other third parties.
The Borrower is aware that Jayanth has agreed to extend the Loan to the Borrower based on the KYC documents made available to Jayanth directly or through any third party authorized in this regard and that the Borrower has in no way concealed any relevant information which could have adversely affected Jayanth’s decision to grant the Loan to the Borrower.



EVENTS OF DEFAULT
The following acts/events, shall each constitute an “Event of Default” by the Borrower for the purposes of this term loan:
1. The Borrower fails to make payment of any Borrower’s Dues on Due Date;
2. Breach of any terms, covenants, representation, warranty, declaration or confirmation under the Financing Documents;
3. Any fraud or misrepresentation or concealment of material information by Borrower which could have affected decision of Jayanth to grant any Loan;
4. Death, lunacy or any other permanent disability of the Borrower;
5. Borrower utilises the term loan for any purpose other than the Purpose;
6. Occurrence of any events, conditions or circumstances (including any change in law) which in the sole and absolute opinion of Jayanth could have a Material Adverse Effect, including limitation of any proceedings or action for bankruptcy/liquidation/ insolvency of the Borrower or attachment / restraint of any of its assets;
7. Submission of any forged document by the Borrower;
8. The Borrower repudiates the Financing Documents or does or causes to be done any act or thing evidencing an intention to repudiate the Financing Documents;
9. All or substantially all of the undertaking, assets, or properties of the Borrower or its interests therein are seized, nationalised, expropriated or compulsorily acquired by the authority of government;
10. Any other event which in the sole opinion of Jayanth would endanger the repayment of the Borrower’s Dues.
The decision of Jayanth as to whether or not an Event of Default has occurred shall be binding upon the Borrower.



CONSEQUENCES OF DEFAULT
Upon occurrence of any of the Events of Default and at any time thereafter, Jayanth shall have the right, but not the obligation to declare all sums outstanding in respect of the Term Loan, whether due or not, immediately repayable and upon the Borrower failing to make the said payments, Jayanth may at its sole discretion exercise any other right or remedy which may be available to Jayanth under any applicable law, including seeking any injunctive relief or attachment against the Borrower or their assets.
Jayanth may exercise any right, power or remedy permitted to it by law, including by suit, in equity, or by action at law, or both, or otherwise, whether for specific performance of any covenant, condition or term contained in the Financing Documents, or in aid of the exercise of any power or right granted in the Financing Documents and/or as a creditor.
The Borrower shall also be liable for payment of all legal and other costs and expenses resulting from the foregoing defaults or the exercise of Jayanth remedies.
Notwithstanding any other rights available to Jayanth, Jayanth shall be entitled to initiate criminal proceeding or any other appropriate actions against the Borrower if at any time Jayanth at its sole discretion has sufficient grounds to believe that the Borrower has made any misrepresentations and/ or submitted any forged documents or fabricated data to Jayanth.
All rights and powers conferred on Jayanth under the Financing Documents shall be in addition and supplemental to any rights Jayanth has as a creditor against the Borrower under any law for the time being in force and security documents and shall not be in derogation thereof.



DISCLOSURES
The Borrower acknowledges and authorizes Jayanth to disclose all information and data relating to Borrower, the Term Loan, default if any, committed by Borrower to such third parties/ agencies as Jayanth may deem appropriate and necessary to disclose and/or as authorized by RBI, including the Credit Information Companies. The Borrower also acknowledges and authorizes such information to be used, processed by Jayanth / third parties/RBI as they may deem fit and in accordance with applicable laws. Further in Event of Default, Jayanth and such agencies shall have an unqualified right to disclose or publish the name of the Borrower /or its directors/ partners/co-applicants, as applicable, as ‘defaulters’ in such manner and through such medium as Jayanth / RBI/ other authorized agency in their absolute discretion may think fit, including in newspapers, magazines and social media.
The Borrower shall not hold Jayanth responsible for sharing and/or disclosing the information now or in future and also for any consequences suffered by the Borrower and/or other by reason thereof. The provisions of this clause shall survive termination of the T&C and the repayment of the Borrower’s Dues.



MISCELLANEOUS
The entries made in records of Jayanth shall be conclusive evidence of existence and of the amount Borrower’s Dues and any statement of dues furnished by Jayanth shall be accepted by and be binding on the Borrower.
Borrower’s liability for repayment of the Borrower’s Dues shall, in case where more than one Borrower have jointly applied for any Loan, be joint and several.
Borrower shall execute all documents and amendments and shall co-operate with Jayanth as required by Jayanth (i) to comply with any RBI guidelines / directives or (ii) for giving Jayanth full benefit of rights under the Financing Documents. Without prejudice to the aforesaid the Borrower hereby irrevocably consents that on its failure to do so, such changes shall be deemed to be incorporated in the Financing Documents and shall be binding on the Borrower.
Notwithstanding any suspension or termination of any Loan, all right and remedies of Jayanth as per Financing Documents shall continue to survive until the receipt by Jayanth of the Borrower’s Dues in full.
The Borrower acknowledges that the rate of interest, penal charges, service charges and other charges payable and or agreed to be paid by the Borrower under Financing Documents are reasonable and acceptable to him/ her.
The Borrower expressly recognizes and accepts that Jayanth shall, without prejudice to its rights to perform such activities itself or through its office employees, be entitled and has full power and authority so to appoint one or more third parties (hereinafter referred to as “Service Providers”) as Jayanth may select and to delegate to such party all or any of its functions, rights and power under Financing Documents relating to the sourcing, identity and verification of information pertaining to the Borrower administration, monitoring of the Loan and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices, contacting Borrower, receiving Cash / Cheques/ Drafts / Mandates from the Borrower in favour of Jayanth.
The Borrower acknowledges that the financing transaction hereunder gives rise to a relationship of debtor and creditor as between him / her and Jayanth and not in respect of any service rendered/to be rendered by Jayanth. Accordingly, the provisions of the Consumer Protection Act, 1986 shall not apply to the transaction hereunder.
The Borrower hereby authorizes Jayanth to verify all information and documents including, income proof documents, residence documents, address proof documents, identity documents and other such documents containing personal and financial information as are submitted by them for obtaining any Loan and that they also consent to subsequent retention of the same by Jayanth.
The Borrower acknowledges and authorizes Jayanth to procure Borrower’s PAN No./copy of Pan Card, other identity proof and Bank Account details, from time to time and to also generate / obtain bureau reports and such other reports as and when Jayanth may deem fit. The Borrower also hereby gives consent and authorizes Jayanth to undertake its KYC verification by Aadhar e-KYC or otherwise and undertake all such actions as may be required on its behalf or otherwise to duly complete the process of such verification including by way of Aadhar e-KYC and share such information with any authority and store such information in a manner it deems fit.
In the event of any disagreement or dispute between Jayanth and the Borrower regarding the materiality of any matter including of any event occurrence, circumstance, change, fact information, document, authorization, proceeding, act, omission, claims, breach, default or otherwise, the opinion of Jayanth as to the materiality of any of the foregoing shall be final and binding on the Borrower.
The Borrower and Jayanth may mutually agree on grant of a fresh Loan on the terms and conditions of the T&C and by execution of such further letter/undertaking by the Borrower as may be required by Jayanth.



WAIVER
Jayanth’s failure to exercise or delay in exercising any right, power, privilege or remedy under the Agreement will not operate as a waiver or acquiescence, nor will any single or partial exercise of any right, power, privilege or remedy prevent any further or exercise of any other right, power, privilege or remedy.



SEVERABILITY
The Borrower acknowledges that each of his /her obligations under these Financing Documents is independent and severable from the rest.



GOVERNING LAW AND JURISDICTION
All Loan and the Financing Documents shall be governed by and construed in accordance with the laws of India.
All disputes, differences and / or claims arising out of these presents or as to the construction, meaning or effect hereof or as to the right and liabilities of the parties under the Financing Documents shall be settled by arbitration in accordance with the provision of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof or any statute enacted for replacement therefore and shall be referred to a sole Arbitrator to be appointed by Jayanth. The place of arbitration shall be Bangalore and proceeding shall be under fast track procedure as laid down in Section 29(B) of the Act. The awards including interim awards of the arbitration shall be final and binding on all parties concerned. The arbitrator may pass the award without stating any reasons in such award.



NOTICES
Any notice to be given to the Borrower in respect of Financing Documents shall be deemed to have been validly given if served on the Borrower or sent by registered post to or left at the address of the Borrower existing or last known business or private address. Any such notice sent by registered post shall be deemed to have been received by the Borrower within 48 hours from the time of its posting. Any notice to Jayanth shall be deemed to have been valid only if received by Jayanth at its above stated address.



ASSIGNMENT
The Borrower shall not be entitled to jointly or severally transfer or assign all or any of their right or obligation or duties under the Financing Documents to any person directly or indirectly or create any third party interest in favour of any person without the prior written consent of Jayanth.
Jayanth shall be entitled to sell, transfer, assign or securitise in any manner whatsoever (in whole or in part and including through grant of participation rights) all or any of its benefits, right, obligation, duties and / or liabilities under Financing Documents, without the prior written consent of, or intimation to the Borrower in such manner and such terms as Jayanth may decide. In the event of such transfer, assignment or securitization, the Borrower shall perform and be liable to perform their obligation under the Financing Documents to such assignee or transferor. In such event, the Borrower shall substitute the remaining NACH in favour of the transferee/ assignee if called upon to do so by Jayanth.



INDEMNITY
The Borrower hereby indemnifies, defends and holds Jayanth, its employees, representatives and consultants harmless from time to time and at all times against any liability, claim, loss, judgment, damage, cost or expense (including, without limitation, reasonable attorney’s fees and expenses) as a result of or arising out of any failure by the Borrower to observe or perform any of the terms and conditions and obligations contained in the Financing Documents or Event of Default or the exercise of any of the rights by Jayanth under the Financing Documents, including for any enforcement of security or recovery of Borrower’s Dues.



Acceptance:
I / We am / are aware that Jayanth shall agree to become a party to this T&C only after satisfying itself with regard to all conditions and details filled by me / us in the T&C and other Financing Documents in consonance with Jayanth policy. I / We agree that this T&C shall be concluded and become legally binding on the date when the authorized officer of Jayanth signs this at Bangalore or on the date of first disbursement, whichever is earlier.
By clicking “I accept”, the Borrower electronically signs these T&C and agrees to be legally bound by its terms. The Borrower’s acceptance of these T&C shall constitute: (i) the Borrower’s agreement to irrevocably accept and to be unconditionally bound by all the terms and conditions set out in these T&C; and (ii) the Borrower’s acknowledgement and confirmation that these T&C (along with the Financing Documents) have been duly read and fully understood by the Borrower.