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TERMS OF USE FOR CONSUMER DURABLE FACILITY

1. INTRODUCTION

This document is an electronic record in terms of the Information Technology Act, 2000 (with subsequent amendments thereto) and rules thereunder as applicable and the 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 requires publishing the rules and regulations, privacy policy and terms of use for access or usage of this App.

The domain name Mahindra Finance Consumer Loans is owned by Mahindra and Mahindra Financial Services Limited, a limited company incorporated under the Companies Act, 1956 with its registered office at Gateway Building, Apollo Bunder, Mumbai, Maharashtra- 400001 (hereinafter referred to as “MMFSL” / “Us” / “Our”, which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to include its successors, affiliates, partners and assigns). The objective of the App (as defined below) is to facilitate the onboarding of the Borrower, and the lending and borrowing of capital, in accordance with the terms and conditions executed between user/customer and MMFSL

For the purpose of these Terms of Use (“Terms”), wherever the context so requires, the term:

App” means the application of MMFSL, as may be updated from time to time and as may be used and accessed by the Representative on any compatible device, for onboarding of any Borrower, for availing consumer loans / credit facilities;

Borrower” shall mean an individual, proprietorship concern, partnership firm, limited liability partnership or an incorporated company carrying on business in India, which / who is desirous or willing to borrow / has availed a loan, who is being or will be onboarded through the App, and shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include the legal heirs, executors, (if applicable), successors and permitted assigns thereof.

Force Majeure Event” shall mean any event that is beyond the reasonable control of MMFSL, and shall include, without limitation, sabotage, fire, flood, explosion, act of God, epidemic, pandemic, quarantine restrictions, civil commotion, strikes, revolutions, labour unrest, earthquakes, lockouts or industrial action of any kind, riots, insurrection, war or other hostilities, insurrections, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, unforeseeable governmental restrictions or controls or a failure by a third party hosting provider or internet service provider or on account of any change or defect in the software and/or hardware of your computer system and any other similar events not within the control of MMFSL and which MMFSL is not able to overcome.

Representative” means any employee, official, representatives, third party service provider, agents, or contractors, authorised by MMFSL inter alia for onboarding of Borrowers on the App;

Services” shall mean any and all services, products, facilities and /or offers render / to be rendered or provided / to be provided by MMFSL to the Borrower in relation to the loan / facility availed / to be availed by the Borrower under to the Account.

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

Accessing, browsing, by sharing any information with the Representative to be uploaded on the App or by otherwise using the App, indicates the Borrower’s express agreement and consent to all the terms and conditions under these Terms. The Borrower is advised to read these Terms carefully before proceeding. By impliedly or expressly accepting these Terms, the Borrower also accepts and agrees to be bound by all MMFSL’ policies, including but not limited to its Privacy Policy as amended from time to time.

1. 1. The terms and conditions are published in compliance of, and is governed by the provisions of Indian law, including but limited to:

  • the Indian Contract Act, 1872,
  • the (Indian) Information Technology Act, 2000, and
  • the rules, regulations, guidelines and clarifications framed under the (Indian) Information Technology Act, 2000, including the (Indian) Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Information) Rules, 2011, and the (Indian) Information Technology (Intermediaries Guidelines) Rules, 2011.

2. MEMBERSHIP ELIGIBILITY

Use of the App 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 / share information to be onboarded on the App. Any person under the age of 18 years shall not register as a Borrower on the App and shall not transact on or use the App. MMFSL reserves the right to terminate any person’s membership and/or refuse to provide such person with access to the App if it is brought to MMFSL’s notice or if it is discovered that such person is not eligible to use / be registered / onboarded on the App. It shall not be obligatory on the part of MMFSL to provide any reason(s) for such termination / refusal. In case you are using the App, sharing information to be registered on the App or opening an account on the App on behalf of an incorporated entity, it is presumed that you have been authorized by the entity and your use of the App shall bind the entity with respect to these Terms.

3. BORROWER’S ACCOUNT

3.1. The App allows very limited and restricted access to the Services for unregistered users.

3.2. In order for a Borrower to avail the Services from MMFSL through the App, the Borrower is required to create an account on the App (“Account”) and provide MMFSL / its Representative with certain user information/documentation for verification, which shall include the Borrower’s name, phone number, address, date of birth, e-mail address, gender, financial information such as bank account, bank account statement or credit card or debit card or other payment details, your permanent account number, aadhaar number, details of the Borrower’s income tax returns.

3.3 In addition to the above, MMFSL reserves the right to request the Borrower to provide such other information/documentation as it may deem fit.

3.4 While registering with the App to avail the Services, the Borrower shall not:
3.4.1. create any Account for anyone other than the Borrower, unless such person’s prior written permission has been obtained;

3.4.2. use an Account that is the name of another person with the intent to impersonate that person;

3.4.3. use a name for the Account that is offensive, vulgar or obscene or otherwise unlawful; or

3.4.4. create more than one Account on the App.

3.5. Borrower Obligations
3.5.1. The Borrower will be responsible for maintaining the confidentiality of the login credentials and the Account information and shall be fully responsible for all activities that occur under the Account. The Borrower agrees to, (i) immediately notify MMFSL of any unauthorized use of the Account information or any other breach of security; and (ii) ensure that the Borrower exits from the Account at the end of each session. MMFSL cannot and will not be liable for any loss or damage arising from the Borrower’s failure to comply with this Clause 3. The Borrower may be held liable for losses, damages and / or costs suffered or incurred by MMFSL or any user or visitor of the App due to the authorised or unauthorized use of the Account, as a result of the Borrower’s failure in keeping the Account information confidential.

3.5.2. The Borrower shall ensure that the Account information provided by the Borrower in the App’s registration form is complete, accurate and up-to-date. Use of another Borrower’s account information for availing the Services of the App is expressly prohibited.

3.5.3. The Borrower agrees that if the Borrower provides any information that is untrue, inaccurate, not current, or incomplete, (or becomes invalid, untrue, inaccurate, not current, or incomplete) or if MMFSL has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms, MMFSL shall have the right to indefinitely suspend or terminate or block access to the Account on the App and refuse to provide the Borrower with access to the App.

4. USE OF THE APP

4.1. MMFSL hereby grants the Borrower a restricted, non-transferable, license to download and use the App on a device, which the Borrower owns and / or or controls, to avail of the functions and features in accordance with these Terms of Use.

4.2. The Borrower’s usage of the App will necessitate the Borrower to provide to us certain personal and financial information, which shall be collected and maintained as per the terms mentioned in our Privacy Policy.

4.3. In consideration of MMFSL granting the Borrower the rights hereunder, the Borrower hereby agrees not to use the App for any purpose that is unlawful under any applicable laws and/or in violation of the Terms of Use and our Privacy Policy. The Borrower shall not use the App in any manner that could damage, disable, overburden, or impair our server, or any network(s) connected to any MMFSL server, or interfere with any other party’s use and enjoyment of the App. The Borrower shall not attempt to gain unauthorized access to any functions and features, other user accounts, computer systems or networks connected to any MMFSL server, in any manner, including, through hacking, password mining or any other means. The Borrower shall not obtain or attempt to obtain any materials or information through any means which is not intentionally made available through the App.

4.4. The Borrower shall not allow third parties to: (i) make and/or distribute, in whole or part, copies of the App or any deliverable generated by the App; (ii) attempt to copy, reproduce, alter, modify and/or reverse engineer the App, in whole or part,; and/or (iii) create derivative works of the App.

4.5. The Borrower accepts that any and all operations emanating from their device shall be assumed and deemed to have been initiated by Borrower.

4.6. The Borrower accepts that the Borrower will not engage in any activity that interferes with or disrupts the Services (or the servers and networks which are connected to the Services).

4.7. The Borrower shall not copy, reproduce, distribute, or create derivative works of our content that is available on the App. Also, the Borrower shall not reverse engineer or reverse compile our technology that is available on the App, including, without limitation, such Java Applet, as may be associated with the App from time to time.

4.8. The Borrower is responsible for any and all activities that occur in their Account. The Borrower agrees to notify MMFSL immediately of any unauthorized use of the Account or any other breach of security. MMFSL shall not be liable for any loss to Borrower or Borrower’s organization owing to negligent actions or a failure on their part to inform MMFSL, within a reasonable time, about loss or theft of their Device and/or any unauthorized access in your Account, either with or without your knowledge.

4.9. The Borrower shall be liable for all losses and damages incurred by MMFSL or any other party due to a third party’s use of the Account. The Borrower shall not use any other person’s account at any time, without the permission of the account holder and MMFSL.

4.10. The Borrower shall ensure that while sharing information with the Representative to be uploaded on the App, all prevailing and applicable laws, rules and regulations, shall at all times, be strictly complied with by Borrower and MMFSL shall not be liable in any manner whatsoever for default of any nature, by Borrower, regarding the same.

4A. DOCUMENTS REQUIRED

For MMFSL to evaluate the Borrower’s request for a loan facility and to determine the facility limit that MMFSL may consider granting to the Borrower, the Borrower shall be required to submit either self-attested photocopies/ originals or share details of the following documents for MMFSL’s review:

(a) PAN Card; and
(b) either of the following documents containing the Borrower’s address: Aadhaar card, Valid Driving License, Valid Passport or Voter ID; and/or
(c) Additional documents (wherever applicable): Latest Salary Slip, Bank Statement, Bank Passbook, Post-paid Mobile bill, Landline or broadband bill, Rent Agreement, property tax receipt, Water bill, ration card, LPG connection receipt, Gas Bill (LPG/PNG), or any other document.

The aforementioned details shared by the Borrower shall be used and maintained as per the terms of our Privacy Policy.

4B. TIME LIMIT FOR NOTIFYING CREDIT DECISION

For Borrower’s having bureau footprints- Once MMFSL receives all the required information related to / required for processing the loan / credit facility application, MMFSL shall notify the Borrower of its credit decision, within 30 minutes thereof, subject to completion of successful KYC verification.

For Borrower’s with no bureau footprints – Once MMFSL receives all the required information related to / required for processing the loan / credit facility application (including receipt of the additional documents as mentioned in paragraph 4A(c) above), MMFSL shall notify the Borrower of its credit decision within 30 minutes thereof.

4C. ACCESS TO LOAN AGREEMENT AND OTHER DOCUMENTS

After disbursement of the loan / facility, MMFSL share make the executed copy of the account holder agreement available on the App for the Borrower’s record and reference. The Borrower may access the account holder agreement (and other facility documents) either on the App or request a copy of the same by contacting MMFSL’s customer care centre (as per the contact details mentioned in paragraph 19 below).

5. CUSTOMER COMMUNICATION

5.1. The Borrower hereby gives its express consent to receive communications and to be contacted / notified, from time to time, through any Communication Mode at any contact number, physical and / or electronic address provided by the Borrower (either at the time of registering the Borrower ‘s Account / onboarding on the App, or as may be updated thereafter) by us, our employees, agents, representatives, service providers, affiliates, MMFSL Group and / or anyone authorised to communicate with the Borrower on our behalf, in relation to the Borrower’s account with MMFSL, the services or products availed / sought by the Borrower, or otherwise in relation to the products, services, facilities or offers provided by MMFSL, including but not limited to any communications in the nature of updates, notifications, reminders for repayment of the loan / facility / EMI / outstanding dues, information, alerts and updates, to be provided to the Borrower.

For the purposes of these Terms, the term “ Communication Mode” shall mean any one or more modes used for communicating with, updating or / notifying the Borrower, in any form or manner, including without limitation, electronic mails, SMS messages (including text messages), calls using pre-recorded messages or artificial voice, calls, messages delivered using auto telephone dialing system or an automatic texting system, messages via WhatsApp Messenger, and notifications sent via the App. The following shall also be construed as a valid communication by MMFSL: (a) automated messages that may be played when the telephone is answered, whether by the Borrower or anyone else; and / or (b) in the event that an agent or representative calls, he or she may also leave a message on the Borrower’s answering machine, voice mail, or send a message via SMS.

From time to time, MMFSL may monitor and/or record telephone calls and other Communication Modes between MMFSL and the Borrower to ensure the quality of MMFSL’s customer service. The Borrower hereby agrees and grant its consent to MMFSL for the same.

5.2. The Borrower certifies, warrants and represents that the telephone numbers, mobile number, postal address and/or email addresses and any other information that Borrower has provided to us are their own and not someone else’s and are true, accurate, current and complete. The Borrower represents that they are permitted to receive calls, emails, posts at each of the telephone numbers, email addresses and postal addresses they have provided us. The Borrower agrees to notify us whenever they stop using a particular telephone number(s), mobile number, postal and/or email address(es).

6. CONFIDENTIALITY

As elaborated under the Privacy Policy, MMFSL will keep all confidential information confidential, including the Borrower’s personal and business information, and shall not disclose it to anyone except as required by law, and shall ensure that such confidential information is protected with security measures and a degree of care that it would apply to its own confidential information. MMFSL acknowledges that its employees, directors, agents, and contractors shall use the confidential information only for the intended purpose for which it is provided. MMFSL shall use all reasonable endeavors to ensure that its employees, directors, agents, and contractors acknowledge and comply with the provisions of these terms of confidentiality as if such person was subject to these terms of confidentiality.

7. LINKS TO THIRD-PARTIES APPS

The App may contain links and interactive functionality interacting with the apps of third parties. MMFSL is not responsible for and has no liability for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such app. Before enabling any sharing functions to communicate with any such app or otherwise visiting any such app, MMFSL strongly recommends that the Borrower reviews and understands the terms and conditions, privacy policies, settings, and information-sharing functions of each such third-party app.

8. INDEMNIFICATION

The Borrower shall indemnify and hold harmless MMFSL, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any loss(es), liability(ies), damages, claim(s), demand(s), penalty(ies) and / or action(s) including reasonable attorneys’ fees, made by any third party or suffered, incurred or imposed any of the foregoing indemnified parties due to or arising out of the Borrower’s breach of these Terms, the Privacy Policy and other policies, or the Borrower’s violation of any law, rules or regulations or the rights (including infringement of any intellectual property rights) of a third party.

9. TERMINATION

9.1. MMFSL, in its sole discretion, may modify, suspend, or terminate access to, all or any portion of the App at any time for any reason including termination for breach of any of these Terms.
9.2. None of the Borrower’s content shall remain accessible to the Borrower on the App upon termination. This information cannot be recovered by the Borrower, once the Account is terminated.
9.3. The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.

10. DISCLAIMER OF WARRANTIES

The App and all information, content, materials, and services included on or otherwise made available to the Borrower on or through the App (collectively, the “contents”) are provided by MMFSL on an “as is,” “as available” basis, without representations or warranties of any kind, whether express or implied. MMFSL makes no representations or warranties of any kind, express or implied, as to the operation of the App, the accuracy or completeness of the contents and the accuracy of the information or receipt of loans. MMFSL shall have no responsibility for any damage to the Borrower’s computer system or loss of data that results from the download of any content, materials, document or information or any other losses, damages or costs suffered or incurred by the Borrower for failure to receive loans. The Borrower expressly agrees that the use of the App or sharing information on the App through the Representatives is at the Borrower’s sole risk. MMFSL will not be liable for any losses or damages of any kind arising from the use of or in relation to the App, the Services and / or the contents including, without limitation, any direct, indirect, consequential, punitive, and consequential damages. To the full extent permitted by law, MMFSL disclaims any and all representations and warranties with respect to the App and the contents, whether express or implied, including, without limitation, warranties of title, merchantability, and fitness for a particular purpose or use.

11. LIMITATION OF LIABILITY

In no event shall MMFSL, its directors, employees or agents, be liable for any special, incidental, indirect or consequential damages whatsoever resulting from any (i) errors, mistakes, or inaccuracies of content; (ii) personal injury or property damage, of any nature whatsoever, resulting from the Borrower’s access to and use of the App or from the Borrower sharing information on the App through the Representatives; (iii) any unauthorized access to or use of the secure servers and/or any and all personal and/or business and/or financial information stored therein; (iv) any interruption or cessation of transmission to or from the App; (v) any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the App by any third party; and/or (vi) any errors or omissions in any content or for any loss or damage of any kind incurred as a result of the use of any content posted, emailed, transmitted, or otherwise made available via the App, whether based on warranty, contract, tort, or any other legal theory, and whether or not MMFSL is advised of the possibility of such damages. Subject to the above and notwithstanding anything to the contrary contained in these terms, the maximum aggregate liability (whether in contract, tort (including negligence) or equity) of MMFSL vis-à-vis the Borrower, regardless of the form of claim shall be limited to the aggregate of fees, if any, paid by the Borrower to MMFSL. The foregoing limitations of liability will apply notwithstanding the failure of essential purpose of any limited remedy herein.

12. SERVERABILITY

If a provision of these Terms is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect. If any unlawful and/or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect. Further, the MMFSL and the Borrower shall endeavour to replace such provision with a valid, legally enforceable provision that reflects the original intent of the Parties.

13. CONTENT AND INTELLECTUAL PROPERTY RIGHTS

13.1. MMFSL solely and exclusively owns copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights associated with the App and contents on the App and is protected under Indian law.

13.2. The Borrower hereby acknowledges that the App constitutes original work and has been developed, compiled, prepared, revised, selected, and arranged by MMFSL through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes the valuable intellectual property of us and such others. The Borrower hereby agrees to protect the proprietary rights of MMFSL during and after the term of these Terms. The Borrower shall not download any portions of the App without MMFSL’s consent and without retaining the copyright notices.

13.3. Any infringement shall lead to appropriate legal proceedings against the Borrower at an appropriate forum for seeking any and all available remedies under applicable laws of the country.

13.4. The Borrower undertakes not to copy, decompile or modify or reverse engineer any technology and/or content or knowing allow or permit anyone else to do so, except as expressly permitted by MMFSL in writing or otherwise provided at law.

14. FORCE MAJEURE

MMFSL shall not be liable to the Borrower for its failure by it or its Representatives to perform or for any delay in onboarding of the Borrower on the App or in uploading information of the Borrower on the App, to the extent such failure or delay results from any Force Majeure Event.

15. GOVERNING LAW AND DISPUTE RESOLUTION

These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The place of jurisdiction shall exclusively be in Chennai, Tamil Nadu, India. In the event of any dispute arising out of this Term, the same shall be settled by binding arbitration conducted by a sole arbitrator, appointed solely by MMFSL and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Chennai, Tamil Nadu and the arbitration proceedings shall be conducted in the English language.

16. ASSIGNMENT

It is expressly agreed by the parties that MMFSL may assign all or part of its rights or duties under these Terms without such assignment being considered a change to these Terms and without notice to Borrower, except to the extent provided by law. However, the Borrower shall not assign or transfer all or any part of its rights or duties under these Terms without the prior written consent of MMFSL.

17. GRIEVANCE REDRESSAL MECHANISM

In accordance with the Information Technology Act, 2000 (with subsequent amendments) and Rules made thereunder, the name and contact details of the Grievance Officer are provided below:

Name: Mr. Trilok Singh

Address: Mahindra & Mahindra Financial Services Limited. Mahindra Towers, 4th Floor, P. K. Kurne Chowk, Worli, Mumbai- 400 018Phone: Direct Number: 022 6652 6006 (Mon – Fri, 9am to 5pm) Toll free:1800 233 1234 (Mon–Sat, 8am to 8pm)

E-mail: grievanceredressal_mmfsl@mahindra.com

18. HOW TO CONTACT US

If you have questions or concerns about this Policy, please contact us at support.consumerloan@mahindra.com or call us on 1800-233-1234.