VIINDHYA AU BULLION LLP
#B-15 & 16, INDUSTRIAL ESTATE, SANATHNAGAR ROAD, HYDERABAD, TELANGANA, INDIA.
TERMS AND CONDITIONS
VARDHAAN GOLD
TERMS & CONDITIONS
Welcome to VARDHAAN GOLD ("Vardhaan Gold," "we," "our," or "us"). By accessing or using _________________ ("Website"), you agree to these Terms and Conditions.
1. Acceptance of Terms:
These Terms govern your access to and use of VARDHAAN GOLD Platform and all services of it ("Services"). By registering, clicking "I Agree", or transacting, you accept these Terms, our [Privacy Policy], [Cookie Policy] and [Disclaimer], which form a single agreement under the Information Technology Act, 2000. If you do not agree, do not use the Platform.
2. Eligibility:
Customer must:
a. Be over 18 years of age.
b. Not deemed incompetent to enter an agreement/contract under the Indian Contract Act,1872.
c. Represent and warrant that he/she have the full right, authority, and legal capacity to enter into this Agreement and to comply with all the provisions set forth in the Terms of Use.
d. Not impersonating any person or entity, misrepresenting his/her age or his/her affiliation with any entity.
e. Have the mandatory information and the officially verified documents (OVD) required to be present.
f. Have the legal ability to purchase or sell the Gold/Silver and use of this Service at all times and are capable of being bound by these Terms and Conditions.
g. Not registered under the applicable Goods and Services Tax Act, 2017 and in the event that he/her become registered under the aforesaid Act during the course of his/her engagement with the App and/or any of our business partners, customer agree to promptly notify the concerned business partner of his/her updated GST registration status.
h. If required, shall take independent tax advice from a tax advisor as this does not constitute to any tax advice to the customer.
i. By submitting such information, the customer grants VARDHAAN GOLD the right to provide the information to payment processing third parties for purposes of facilitating the completion of Customer’s Order.
3. Services:
VARDHAAN GOLD may offer:
a. Digital Gold purchase and sale.
b. Digital Silver purchase and sale.
c. Fixed tenure Digital Gold/Silver Plans.
d. Gold/Silver accumulation plans.
e. Gold/Silver leasing opportunities.
f. Secure vault storage facilities.
g. Trustee-backed custody arrangements.
h. Redemption of Gold/Silver subject to applicable conditions.
4. Account Registration:
Customers may be required to create an account and agree to:
a. Maintain confidentiality of login credentials.
b. Notify us immediately of unauthorized access.
c. Provide accurate KYC information.
d. A unique Customer ID shall be assigned upon successful completion of KYC verification.
e. The customer shall agree that the continued use of the platform, consequent upon the creation of the Customer’s Account, is subject to verification by VARDHAAN GOLD of the information and documentation provided by him/her. The customer hereby grant permission to conduct such verification, in such form and manner as it may deem fit.
f. The customer further acknowledges that VARDHAAN GOLD reserves the right for such verification either on registration of the Customer Account or at the time thereafter. Any processing undertaken by VARDHAAN GOLD to process KYC documents shall be in accordance with its privacy policy and these Terms and Conditions.
g. VARDHAAN GOLD reserves the right to reject or suspend registration in case of incomplete, false, or fraudulent information.
h. In such cases, the customer shall have Three (3) Working Days to resolve such issue, before deletion of their account.
i. Upon such deletion of account, the customer shall have to start the registration process from the beginning, unless the customer submits a written notice.
j. The customer should maintain and promptly update registration data to keep it true, accurate, current and complete. VARDHAAN GOLD reserves the right to confirm and Validate the information and other details provided by you at any point in time. Further, VARDHAAN GOLD also reserve the right to ask for additional information for registration and/or accepting orders and/or before making delivery and/or at the time of delivery in certain cases. If upon confirmation, your details are found to be false (partially or completely) or if you provide any information that is false, inaccurate, incomplete or not current or if VARDHAAN GOLD has reasonable grounds to suspect that such information is false, inaccurate, incomplete, not current or not in accordance with these Terms and Conditions, we have the right to indefinitely suspend or terminate your membership and refuse to provide you with access to our Website and other affiliated websites without any prior intimation whatsoever.
k. In case of any suspension or termination of customer’s membership, access to website and locked delivery for any reasons mentioned above, the customer shall approach VARDHAAN GOLD and provide necessary accurate information to resume the registration and/or membership and/or access to website and/or delivery.
5. KYC Verification:
Customer may be required to complete:
a. PAN Verification.
b. Aadhaar Verification.
c. Address Verification.
d. Nominee Verification.
e. Bank Account Verification where applicable.
f. Video KYC where applicable.
g. Registration may require mobile number, email, OTP verification and KYC.
h. Customer is responsible for his/her credentials, device and OTPs. Notify us immediately at _______________ of any unauthorised use. We are not liable for losses from customers failure to protect credentials, except were caused by our proven negligence.
i. We may use multi-factor authentication, device binding and encryption to protect accounts. Failure to complete KYC may result in restrictions on services.
6. Disclaimer:
a. Customer must confirm all information and documents are true, current and belong to him/her. Customers must update changes promptly.
b. We monitor transactions, may request source-of-funds or purpose information, and may re-verify customers information periodically on a risk basis.
c. We may, without liability, refuse, delay, reverse or cancel a transaction; freeze or restrict your account; withhold sale or delivery proceeds; and cooperate with law enforcement where we suspect money laundering, terrorist financing, fraud, structuring, use of third-party funds, or breach of sanctions or Applicable Law.
7. Pricing:
a. Gold and silver prices displayed on the platform are dynamic and may change based on market conditions.
b. Prices are based on live market rates @ _______________plus applicable GST (currently 3% on gold/silver), and any making, delivery or convenience charges, all shown before payment.
c. Price lock. The displayed price is locked for _____ minutes. If payment is not completed in time, the price may be refreshed.
d. Gold is credited to the customers digital account after payment is confirmed and the Custodian allocates physical gold/silver for the purchase made by customer. Delays in payment confirmation may delay credit.
e. Failed payments. If money is debited but gold/silver is not credited, the amount will be auto refunded to the source account within _____working days. The VARDHAAN GOLD does not guarantee future prices or returns.
8. Prohibited Activities:
Customers shall not:
a. Engage in unlawful activities.
b. Use false identities.
c. Attempt fraud, money laundering, or terrorist financing.
d. Interfere with platform operations.
9. Intellectual Property:
All content, trademarks, logos, software, and designs belonging to Vardhaan Gold remain the exclusive property of VARDHAAN GOLD.
10. Limitation of Liability:
VARDHAAN GOLD shall not be liable for:
a. Market price fluctuations.
b. System downtime.
c. Banking delays.
d. Third-party failures.
e. Government actions or regulatory changes.
11. Termination:
VARDHAAN GOLD may suspend or terminate accounts due to:
a. Fraud.
b. Regulatory requirements.
c. Breach of these Terms.
12. Governing Law & Dispute Resolution:
a. This Agreement shall be governed by and construed in accordance with the laws of the Republic of India.
b. Any dispute, controversy, or claim arising out of or in connection with this Agreement shall first be attempted to be resolved through mutual negotiation within [30] days of notice.
c. If unresolved, the dispute shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, with a sole arbitrator mutually appointed by the Parties. The seat of arbitration shall be Telangana, India.
d. Subject to the arbitration clause, the courts at Hyderabad shall have exclusive jurisdiction.
13. Confidentiality:
As elaborated under the Privacy Policy, VARDHAAN GOLD will keep all confidential information confidential, including Your personal 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. VARDHAAN GOLD acknowledges that its employees, directors, agents and contractors shall use the confidential information only for the intended purpose for which it is provided. VARDHAAN GOLD shall use all reasonable endeavours 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.
PRIVACY POLICY
Introduction
1.
VARDHAAN GOLD respects your privacy and is committed to protecting your personal information. We process your personal data as per our Privacy Policy and the DPDP Act, 2023, on the basis of your consent and legitimate uses permitted by law, including compliance with legal obligations such as KYC/AML.
2.
We collect only data necessary for the Services (identity, contact, KYC, bank/payment, device and transaction data), use it for service delivery, verification, fraud prevention, regulatory reporting, customer support and, with consent, marketing.
3.
We may share data with the Custodian, payment partners, KYC providers (including CKYCR where applicable), auditors, and regulators or law enforcement as required, under confidentiality and data-processing obligations.
4.
You may access, correct, update, erase (subject to retention duties under PMLA and other laws), nominate, withdraw consent, and raise grievances with us, and approach the Data Protection Board of India if unresolved.
5.
We use reasonable security safeguards including encryption in transit and at rest, access controls and breach response procedures. Information We Collect
1.
Personal Information
a. Name
b. Mobile Number
c. Email Address
d. Date of Birth
e. PAN Number
f. Aadhaar Information
g. Address
h. Bank Details
i. Nominee Information
2.
Transaction Information
a. Purchase Details
b. Redemption Transactions
c. Wallet Balances
d. Investment Activity
3.
Technical Information
a. IP Address
b. Browser Information
c. Device Information
d. Cookies
4.
Use of Information
We use information to:
a. Provide services.
b. Verify identity.
c. Perform KYC compliance.
d. Process transactions.
e. Prevent fraud.
f. Improve customer experience.
g. Meet legal obligations.
5. Sharing of Information We may share information with:
a. Regulatory authorities.
b. Banking partners.
c. Payment gateways.
d. Trustees.
e. Vault operators.
f. KYC providers.
g. Auditors.
6.
Data Security We implement industry-standard security measures to protect user information.
7.
Data Retention Information may be retained for regulatory and business purposes even after account closure.
8. User Rights Users may:
a. Access information.
b. Request corrections.
c. Request deletion where legally permissible.
COOKIE POLICY
1.
What Are Cookies? Cookies are small data files stored on your device.
2.
Cookies We Use
a. Essential Cookies Required for website functionality.
b. Security Cookies Used to prevent fraudulent activities.
c. Analytics Cookies Used to understand user behavior and improve services.
d. Marketing Cookies Used to provide relevant promotions and advertisements.
e. Cookie Control Users may disable cookies through browser settings; however, certain website features may not function properly.
DIGITAL GOLD
1.
Digital Gold/Silver Ownership Purchased Digital Gold/Silver represents a corresponding quantity of physical Gold/Silver held through approved vault arrangements and/or VARDHAAN GOLD’s secured custody.
2.
Purity & Standards
a. Gold is 24 karat, 999.0 purity and Silver is 24K purity, sourced from refiners accredited by NABL and supplies Hallmarked coins and bars, where delivered, carry the BIS hallmark as required by the Hallmarking Order.
b. Purity testing and assaying are performed by laboratories or Assay & Hallmarking Centers that are NABL-Accredited & BIS-Recognized.
3.
Storage
a. Gold/Silver may be stored through approved vault operators and custodians and VARDHAAN GOLD’s Custody.
b. Stored gold/silver is insured against theft, fire and other specified risks up to Rs. ___ and subject to periodic independent audit.
c. Storage is free for _____years; thereafter fees may be applicable. Customer holds a beneficial entitlement to the gold/silver quantity shown in your account. Customers do not have a right to _____ any specific bar or coin until delivery.
4. Redemption Customers may:
a. Hold the Gold/Silver digitally.
b. Redeem subject to applicable terms.
c. Transfer within permitted platform features.
5.
Pricing Buy and sell prices are market-linked and may fluctuate.
6.
Risks Gold/Silver prices may rise or fall. Past performance does not guarantee future returns.
DIGITAL GOLD
LOCKED TENURE PLANS
1.
Structure Customers may purchase Digital Gold/Silver through fixed tenure plans including:
a. 1 Year
b. 2 Years
c. 3 Years
d. 4 Years
e. 5 Years
f. Other tenures introduced by Vardhaan Gold
2.
Locked Period Gold/Silver allocated under a locked tenure plan cannot be withdrawn, redeemed, transferred, pledged, or sold before maturity except under conditions approved by the VARDHAAN GOLD.
3. Target Gold/Silver Each plan may specify:
a. Fixed gold/silver quantity targets.
b. Fixed contribution schedules.
c. Fixed maturity objectives.
4.
Maturity Bonus Customers may become eligible for maturity benefits as announced by the VARDHAAN GOLD.
5.
Partial Withdrawal If a customer withdraws any portion of accumulated Digital Gold/Silver after achieving the target but before maturity payout calculations: The maturity bonus shall be calculated only on the remaining available gold/silver balance.
6. Early Exit Early closure may:
a. No benefits.
b. Removes bonus eligibility.
c. May Attract charges.
7.
No Guaranteed Returns Locked tenure plans do not constitute bank deposits, securities, mutual funds, or guaranteed-return products.
8.
Selling Digital Gold
a. Customer may sell all or part of his/her balance at the then-prevailing sell price reflected in __________.
b. Sale proceeds are credited only to Customer’s KYC-verified Bank Account, typically within _____
c. Sales may be paused during market closures, system maintenance, regulatory restrictions or Custodian outages.
9.
Tax deducted at source or other statutory deductions will be applied where required. Customers are solely responsible for his/her own tax reporting.
10. Physical Delivery / Withdrawal:
a. Where offered, the customer may convert Digital Gold/Silver into BIS-hallmarked gold/silver coins or bars of available denominations, subject to making charges, GST, shipping, and insurance.
b. Delivery requires verified address and may require ID proof and OTP at delivery. Deliveries may be subjected to change according to the available pin codes offered by third-party logistics.
c. Risk passes on to the customer on successful delivery. Inspect packaging and receipt and report tampering within [48] hours.
PURCHASE PLANS
1.
Plan Structure Vardhaan Gold may offer various Purchase Plans under which customers make a one-time upfront payment for the acquisition of Gold/Silver. Each Purchase Plan shall have:
a. A fixed tenure.
b. A specified target quantity of Gold/Silver.
c. A maturity date.
d. An additional maturity benefit.
2.
Upfront Payment The customer shall make the entire purchase amount upfront at the time of enrollment. Upon successful payment, the corresponding quantity of Gold/Silver shall be allocated to the customer based on prevailing rates and applicable charges.
3.
Lock-In Period The Gold/Silver purchased under the Purchase Plan shall remain locked for the selected tenure. During the lock-in period, the customer may not:
a. Redeem the gold/silver.
b. Transfer ownership.
c. Withdraw partially or fully.
d. Sell the gold/silver through the platform. Unless specifically permitted by Vardhaan Gold under exceptional circumstances.
4.
Additional Maturity Benefit Customers who complete the entire tenure of the Purchase Plan may become eligible for an additional benefit offered by Vardhaan Gold.
Such benefit may be provided in the form of:
a. Additional quantity of gold/silver.
b. Can be encashed or sold back to VARDHAAN GOLD.
c. Other promotional benefits announced by Vardhaan Gold. The nature and quantum of the benefit shall be determined solely by Vardhaan Gold and communicated to customers at the time of enrollment.
5.
Eligibility for Maturity Benefit To qualify for the additional benefit, the customer must:
a. Complete the full tenure of the plan.
b. Maintain the allocated Gold/Silver throughout the tenure.
c. Comply with all Terms and Conditions.
d. Complete all required KYC requirements.
6.
Early Exit If a customer requests withdrawal, redemption, transfer, liquidation, or closure of the plan before maturity:
a. The additional benefit may be forfeited.
b. Administrative charges may apply.
c. The customer shall receive only the eligible Vardhaan Goldue of the Gold/Silver after deduction of applicable charges.
7. Maturity Upon completion of the tenure, the customer may:
a. Continue holding the Digital Gold/Silver.
b. Redeem the Digital Gold/Silver subject to platform policies.
c. Receive the maturity benefit, if eligible.
8.
No Guaranteed Investment Returns The additional maturity benefit offered under the Purchase Plan is a promotional or contractual benefit and should not be interpreted as:
a. Interest.
b. Guaranteed investment return.
c. Fixed income product.
d. Bank deposit return. Gold/Silver prices may fluctuate and the Value of the Gold/Silver at maturity may be higher or lower than the original purchase Value.
VAULT & TRUSTEE POLICY
1.
Secure Storage All gold/silver purchased through VARDHAAN GOLD may be stored with approved vault providers or VARDHAAN GOLD’s secured custody. The VARDHAAN GOLD may utilize insured storage facilities for safeguarding customer assets.
2.
Trustee Structure A trustee may be appointed to safeguard customer interests and monitor custody arrangements. The trustee may:
a. Verify gold/silver holdings.
b. Monitor customer asset segregation.
c. Review custody records.
d. Ensure contractual compliance.
3.
Asset Segregation Customer gold/silver shall be maintained separately from the VARDHAAN GOLD’s own operational assets.
4.
Audits Periodic audits may be conducted by independent auditors, trustees, or authorized agencies.
5.
Leasing Activities The VARDHAAN GOLD may utilize gold/silver assets for leasing arrangements subject to applicable agreements, customer consents, risk disclosures, and applicable law. Where leasing occurs:
a. Proper records shall be maintained.
b. Asset tracking mechanisms shall be implemented.
c. Trustee oversight may be exercised.
d. Risks associated with leasing shall be disclosed to customers.
RISK DISCLOSURE
Customers acknowledge:
1.
Gold prices fluctuate.
2.
Regulatory changes may affect services.
3.
Liquidity may vary.
4.
Technology disruptions may occur.
5.
Digital assets may experience operational risks.
6.
Leasing activities may involve additional risks. Customers should carefully eVardhaan Golduate their financial situation before participating.
REFUND & CANCELLATION POLICY
1.
Completed Transactions Completed gold/silver purchases generally cannot be reversed once executed.
2.
Failed Transactions Failed transactions may be refunded according to applicable banking timelines.
3.
Plan Cancellation Cancellation requests shall be processed according to the relevant plan terms.
4.
Plan Closure Customers may request closure according to plan-specific rules.
DISCLAIMER
Vardhaan Gold is not:
1.
A bank.
2.
A mutual fund.
3.
A portfolio manager.
4.
A stock exchange.
5.
An investment advisor unless separately licensed. Nothing on this website constitutes investment, legal, tax, or financial advice. Customers should seek independent professional advice before making financial decisions.
Changes to these terms and conditions:
We may update these Terms. Material changes will be notified through the Platform, email or SMS. Continued use after the effective date means acceptance.