TERMS AND CONDITIONS
Welcome to the portal www.finomena.com (the “Website”). The content of this Website is the property of 8FINATICS MOBILE PRIVATE LIMITED (the “Company”). The Company is in the business of providing technology services to financial institutions and facilitating services to retail customers availing financial products from these financial institutions via this Website (“Services”).
1.Access and Use of the Website.
1.1Use of the Website is available only to persons who can form 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,
1.2Use of the Website is available only to persons who are Indian nationals residing in India at the time of accessing the Website and have an Indian registered mobile number for authentication purposes1.
1.3In order to use the Services offered on the Website you are required to be a registered user (the “Registered User”). In order to become a Registered User, you will have to provide accurate,
truthful, and complete registration information at the application stage. Furthermore, the Company has no obligation to accept applications to become a Registered User. Upon acceptance of your
application you will be assigned a user name and password that will allow you to access the Website (“User Name” and “Password”, respectively). It is your obligation to keep your registration
information accurate and
1.4When you provide information to the Company you agree to provide only true, accurate, current, complete information about yourself and you agree not to misrepresent your identity or your account information. You hereby further agree to keep your account information up to date and accurate.
1.5Use of the Company is free for all Registered Users. However, the Company reserves the right to levy any service charges as applicable from time to time in consideration of the Services provided to the Registered User.
1.6The Company reserves the right to refuse access to the Website, remove or edit content at any time without notice to you.
1.7The Company will endeavor to ensure that access to and availability of the Website remains uninterrupted and error free. However, access to the Website may occasionally be suspended or restricted to allow for repairs, maintenance, security breaches or for the introduction of new facilities and services.
1.8In some cases when you use the Website or attempt to use the Company’s Services the transaction may be held up as pending or delayed for processing by either the Company, the Lender or the merchants and can be cancelled at any time until it is confirmed by the Company.
1.9To avail of the Services on the Website you will have to fill out the LAF and provide your Personal
providers for the purpose of processing your LAF.
1.10The Services accessed via the Website may need you to supply your personally identifiable
information including, but not limited to, your passport, voter ID card issued by the Election Commission of India, valid driving license, permanent account number (“PAN”) card, aadhar
number (i.e. the unique identification number issued by the Unique Identification Authority of India), one time password received on your registered mobile number, biometric token like your
fingerprint(s) or iris scan(s) or any other identification proof as may be accepted by the Lender and your bank account details, including but not limited to, your previous 12 months’ transaction history,
amongst other information. You hereby authorize the Company to share such information with the Lender and relevant third parties for identity authentication and make any enquiries with any other finance company / bank / registered credit bureaus regarding your credit history and other banking details.
2.Limited Licence for Access.
2.1The Company grants you a limited licence to access and make personal use of this Website, but not to download (other than page caching) or modify it(or any portion thereof), except with prior written consent of the Company and / or its affiliates, as may be applicable.
2.2This licence does not include any resale or commercial use of this Website or its contents; any collection and use of any product listings, descriptions, or prices, any derivative use of this Website or its contents, any downloading or copying of information for the benefit of another seller, or any use of data mining, robots, or similar data gathering and extraction tools. You will not advertise or sell any products, services or otherwise (whether or not for profit) or solicit others (including without limitation solicitations for contributions or donations).
2.3This Website or any portion thereof (including but not limited to any copyrighted material, trademarks, or other proprietary information) may not be reproduced, duplicated, copied, sold, resold, visited, distributed or otherwise exploited for any commercial purpose without prior written consent of the Company and/or its affiliates, as may be applicable.
2.4You will not frame or use framing techniques to enclose any trademark, logo, or other proprietary information (including images, text, page layout, or form) of the Company and its affiliates without
prior written consent. You will not use any meta tags or any other "hidden text" utilizing the Company’s or its affiliates' names or trademarks without the prior written consent of the Company
and / or its affiliates, as may be applicable. Any unauthorized use will terminate the permission or license granted by the Company and / or its affiliates, as may be applicable.
2.5You have been granted a limited, revocable, and
2.6You shall not use the Website in any way that causes, or is likely to cause damage or impairment to the Website or in any manner harms the Company or any other person or entity (as determined by the Company in its sole discretion) or interrupt free access to the Website in any way. You shall not use the Website to host, display, upload, post, submit, distribute, modify, publish, transmit, update or share any information that:
(a)belongs to another person and to which you do not have any right;
(b)is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any other manner whatsoever;
(c)harms minors in any way;
(d)infringes any patent, trademark, copyright or other proprietary rights;
(e)violates any law for the time being in force;
(f)deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
(g)impersonates another person;
(h)contains software viruses or any other computer code, files or programs designed to
interrupt, destroy or limit the functionality of the Website and/or the Services or any connected network or any computer resource, or otherwise interferes with any entity’s use or
enjoyment of the Website and/or the Services; and
(i)threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation.
2.7You will not engage in any form of antisocial, disrupting, or destructive acts, including "flaming," "spamming," "flooding," "trolling," "phishing" and "griefing" as those terms are commonly understood and used on the Internet.
2.8You will not delete or modify any content of the Website and/or Services including but not limited to, legal notices, disclaimers or proprietary notices such as copyright or trademark symbols, logos, that you do not own or have express permission to modify.
3.Platform for Transaction and Communication.
3.1The Website is a platform that users utilize to / avail of loans and credit facilities from the Lender. The Company is not and cannot be a party to or control in any manner, the loan transaction between the user and the Lender. The Company is only acting as a facilitator and collecting certain information on behalf of the Lender and verifying the details supplied by the Registered Users. At no point is the Website/Company representing as a lending company. The granting of the loan shall be at the sole discretion of the Lender and on such terms and conditions as stipulated by the Lender.
3.2The Company shall tie up with authorized lenders to ensure you get the best financing options. We have currently ties up with the following financing partners (i.e. Lenders) –
a.Consolidated Securities Limited, a company duly incorporated under the Companies Act, 1956 registered with the RBI as a
banking financial company, having its registered office at 8/19, 3rd Floor, W.E.A., Pusa Lane, Karol Bagh, New Delhi-110005. [
3.3By using the Website you authorize the Company, directly or through third parties, to make any enquiries considered necessary to validate your identity, including asking for further information that will allow us to reasonably identify you, requiring you to take confirmatory steps to validate your e- mail address, mobile phone number, bank account number using internet banking credentials etc. or verifying the information supplied by you on the Website against third party databases and other sources. We may ask you for identifying documents in certain cases. The Company reserves the right to close, suspend or limit your account and/or access to the Website and Services if we are unable to obtain or verify the information provided by you.
3.4By using the Website, you give the Company, on behalf of the Lender, the explicit permission to investigate your credit record and obtain your credit report from registered credit information bureaus, banks and other financial companies in connection with the review of your loan application through a third party service provider. A credit report may also be requested by the Company for each user in any other case. You understand that the Company, on behalf of the Lender, may report negative information about your account to credit information companies.
3.5By using the Website, and providing your aadhar number for identity verification, you give the Company, on behalf of the Lender, the explicit right to query the UIDAI database, through a third party service provider, for your demographic information (including but not limited to your name, address, photograph, age etc.) and share this with the Lender and other third parties, as required, in order to verify your identity and to use this system to perform all adequate checks on the identity of the proposed borrower under the loan application.
3.6By using the Website, and providing your bank account information and internet banking credentials through a third party service provider’s website/platform, you give the Company, on behalf of the
Lender, the explicit right to query your bank account details and financial data for your financial history (including but not limited to previous 12 months’ bank account statements) and share this
with the Lender and other third parties, as required, in order to verify your identity and perform adequate checks on the financial health and borrowing capacity of the proposed borrower under the loan application.
3.8For the completion of any transaction on the Website, the Company offers you the option to digitally sign your documents, including the LAF, with your authentication credentials to enter into legally binding contracts with the Lender and any other parties, as may be required. You understand that the electronic signature service is offered via a third party service provider using Aadhar based
behalf of the Lender and Company shall not be held responsible or liable for any acts, failure to act, loss, damage, fraud, misappropriation, accident, mistake, failure due to any reason whatsoever by the Lender or third party service provider in this regard.
3.9If you grant express consent and permission to a third party to take specific actions on your behalf,
or access particular information about your account, either through your use of the third party product or service or through the Company’s Website, you hereby agree that the Company may
3.10All commercial/contractual terms are offered by and agreed to between you and the Lender alone. The Company does not have any control or does not determine or advise or in any way involve itself in the offering or acceptance of such commercial/contractual terms between you and the Lender.
3.11As a service provider the Company is responsible for communicating, transacting and verifying your Personal Information provided on the Website on behalf of the Lender.
3.12Notwithstanding Clause 3.8 above, the Company does not make any representation or warranty as to the specifics of the Services proposed to be offered or availed of on the Website. The Company accepts no liability for any errors or omissions, whether on behalf of itself or third parties.
3.13The Company is not responsible for any
3.14You are advised to independently verify the bona fides of the Lender and use your best judgment in that regard.
3.15The Company does not, at any point of time during any transaction between you and the Lender, gain title to or have any rights or claims over the services offered by the Lender to you.
3.16It is hereby clarified that the Company shall only act as a facilitator and a technology provider (via the Website) to the Lender. Processing the LAFs and disbursing loans shall be the sole responsibility of the Lender. It is agreed that any loan or other contractual agreements entered into for the financial products offered on the Website shall be strictly bipartite contracts between you and the Lender.
3.17Before completing any transaction on the Website, you will be asked to consent to the Company’s and/or Lender’s terms of service by checking the terms and conditions box on the LAF. This action
constitutes your electronic signature and manifests your consent and agreement to the following terms:
a.Company may provide disclosures required by law and any other information about your account and your legal rights and duties to you electronically;
b.Company can send any communications, billing statements, or required disclosures (“Disclosures”) to you electronically via our Website or to the email address that you have
provided to us, either directly or indirectly via the merchant to whom the Lender will send funds on your behalf;
c.Your electronic signature on application forms, agreements, mandate letters, authorization letters and other documents has the same effect as if you signed them in ink as per Applicable Laws including the Information Technology Act, 2000 and the rules made thereunder and the Evidence Act, 1872 and the rules made thereunder; and
d.This consent applies equally to any transaction undertaken by you through the Website in the past, to all future Disclosures and communications on your account and to all future transactions that may be made on the Website.
3.18You understand that in order to view and/or retain the copies of the Disclosures you may need a
computer with an internet connection, a mobile device running iOS or Android, a valid email address, a working mobile telephone number that can receive text messages, sufficient storage space to store Disclosures or the capability to print Disclosures from the device on which you view them.
4.Repayment Methods and Collection.
4.1You may use one of the following acceptable methods of payment to make automatic monthly account payment to the Lender. Currently acceptable methods of payment are:
(a)Debit Card / Credit Card: payment made by a debit/credit card shall be subject to such payment terms as established by the card issuer. If charges cannot be processed through your credit/debit card, or if your bank draft or electronic funds transfer is returned for insufficient funds, you will be responsible for any fees incurred and the Company will have no liability with respect thereto;
(b)ECS mandate: You may provide us with a valid and authorized electronic clearing house system (“ECS”) mandate to pay your account balance by automatic debit sweep of your
(c)Post Dated Cheques: You may pay your account balance by making cheques payable to “Consolidated Securities Limited”; and
(d)NEFT or RTGS bank transfer.
4.2You agree to allow the Company, on behalf of the Lender, to send you payment reminders from
you directly, submitting your information to a collection agency or taking legal action. FAILURE OR DEFAULTS IN PAYMENT MAY AFFECT YOUR CREDIT SCORE.
5.Cancellation and Account Closure.
5.3If we suspect any fraudulent transaction by you or any transaction which violates the terms and conditions of using the Website, we, at our sole discretion, reserve the right to initiate cancellation of such LAFs and/or suspend your right to access and use the Website.
6.Copyright and Database Rights.
6.1All content included on the Website, such as photographs, text, graphics, logos, button icons, images and software, is the exclusive property of the Company, its affiliates or its content suppliers.
6.2The compilation of all content on this Website is the exclusive property of the Company.
6.3All software used on this Website is the property of the Company or its software suppliers or third
party vendors engaged by the Company to provide the Services. You shall not systematically extract and/or
consent. In particular, you shall not utilize any data mining, robots, or similar data gathering and
extraction tools to extract (either once or a number of times) for
6.4You shall not create and/or publish your own database that features substantial parts of this Website (e.g. prices and product listings) without the Company’s express written consent. Your personal and
Finomena and other marks indicated on the Website are trademarks or registered trademarks of the Company. All other trademarks not owned by the Company that appear on this Website are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by the Company.
8.1The Company may provide you with communications about your account and Company’s Services both electronically and / or through phone calls or in writing. Standard mobile, message, data rates and any other fees charged by phone operators may apply and the user shall be responsible for the same.
8.2Company reserves the right to close your account and get the Lender to immediately collect all due
amounts if you withdraw your consent to receive electronic or other communications or if you revoke access to any third party websites on which the Company relies (for example – Facebook,
Twitter etc.) or if any such service should revoke your account on their website.
8.3Visiting the Website, sending emails to the Company or posting on the Company’s social media
handles constitutes electronic communication by you with the Company. The Company communicates with you by short messaging service (“SMS”), email or by posting notices on the
Website. Any electronic communication will be considered to be received by you within 24 hours of the time we
8.4If we need to contact you to service your account, you hereby give consent to us, as well as our employees, agents, vendors and collection agents, to communicate with you in any way, such as calls, messages or
(a)a mobile or landline phone number you provide or use to contact us or at which we believe we may be able to reach you (even if not yours);
(c)automated dialer systems and automatic telephone dialing systems; and
8.5For contractual purposes, you consent to receive communications from the Company electronically and agree that all agreements, notices, disclosures and other communications that are provided to you electronically satisfy any legal requirement stipulating that those communications be in writing. This condition does not affect your statutory rights.
8.6You understand that once you submit a LAF on the Website, you will receive SMS messages from the Company on your registered mobile number. These messages could relate to your LAF, or any updates and promotions that are undertaken by the Company. Please note that the Company will send these SMS messages only to the registered mobile number or such other number that you may designate for the particular purpose.
8.7You hereby authorize the Company, its employees, agents and permitted third parties to contact you through telephone calls, SMS and such other means of communication and inform you about various
Company offers and other promotional schemes. You confirm that the laws in relation to the unsolicited communication referred in the “National Do Not Call Registry” (the “NDNC Registry”) as laid down by the Telecom Regulatory Authority of India will not be applicable for such
communication/calls/SMSes received from the Company described herein.
8.8You can update your mobile number and
9.2The Company shall have the right to indefinitely block your access to the Website if:
(a)if you engage in or are suspected of engaging in any illegal, fraudulent or abusive activity; or
9.3Upon suspension or termination, your right to avail of the Services on the Website shall immediately cease and the Company reserves the right to remove or delete information regarding you that is available with the Company, including but not limited to information shared or posted by you.
12.Disclaimer, Indemnity and Limitation of Liability.
12.1You expressly understand and agree that:
(a)It will be the sole responsibility of the user to ensure that the use of User Name, Password, PINs and one time password are kept confidential and not disclosed to any third party, including any representative of the Company, or its agents and shall take all possible care to prevent discovery of the User Name or Password by any person.
(b)The information, content and materials on this Website and / or Services are provided on an "as is" and "as available" basis. The Company and all its subsidiaries, affiliates, officers, employees, agents, partners and licensors disclaim all warranties of any kind, either express or implied, including but not limited to, implied warranties on merchantability, fitness for a particular purpose and
(c)Though the Company has taken proper care and precaution to make the Website reliable, the Company does not warrant that the functions contained in content, information and materials on the Website and / or Services, including, without limitation, any third party sites or services linked to the Website and / or Services will be uninterrupted, timely or
(d)Any material downloaded or otherwise obtained through the Website and / or Services are accessed at your own risk, and you will be solely responsible for any damage or loss of data that results from such download to your computer system.
(f)You hereby indemnify, defend, and hold the Company, the Company's shareholders, directors, affiliates, distributors, agents, representatives and other authorized users, and each of the foregoing entities' respective resellers, distributors, service providers and suppliers, officers, directors, owners, employees, agents and representatives, harmless from and against any and all losses, damages, liabilities and costs arising from your use of the Website, including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the use of the Website.
(g)Certain services, such as retrieving user data from third party vendors and processing and attaching digital signatures to LAFs depends on continuous connection to the Website and third party servers. Company makes no assurance, representation, promise whatsoever that such connectivity will always be available.
(h)Company reserves the right to suspend these Services if in the Company’s opinion security of the Website or of the data could be compromised.
(i)You expressly understand that under no circumstances, including, but not limited to, negligence, shall the Company be liable to you or any other person or entity for any direct, indirect, incidental, special, or consequential damages, including, but not limited to damages for loss of profits, goodwill, use, data or other intangible losses, resulting from circumstances, including but not limited to: (i) the use or the inability to use the Website and / or Services; or (iii) unauthorized access to or alteration of the users’ transmissions or data; (iv) statements or conduct of any third party on the Website and / or Services; or (v) any other matter relating to the Website and / or Services.
(j)The Company and the Company's shareholders, directors, affiliates, distributors, agents, representatives, employees and vendors be relieved of all of their responsibilities, if any, in the event of failure of performance resulting directly or indirectly from an act of force majeure or causes beyond the Company's reasonable control including, without limitation, acts of god, war, equipment and technical failures, electrical power failures or fluctuations, disruption in telephone lines and internet, overload of system capabilities, strikes, labour disputes, riots, civil disturbances, shortages of labour or materials, natural disasters, orders of domestic or foreign courts or tribunals,
15.Governing Law and Jurisdiction.
Any dispute, claim or controversy arising out of, or relating to the breach, termination, enforcement,
gives access, shall be determined by arbitration in India, before a sole arbitrator. Arbitration shall be conducted in accordance with the Arbitration and Conciliation Act, 1996. The seat of such arbitration shall be Bangalore3. All proceedings of such arbitration, including, without limitation, any awards, shall be in the English language. The award shall be final and binding on the parties.