This document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and the amended 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 signature. This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, Privacy Policy and Terms of Use for access or usage of domain name including the related mobile site and mobile application (hereinafter referred to as “Platform”).
These terms and conditions of use ("Terms of Use") of the Platform between Ekarth ventures Pvt Ltd, a private company limited by shares incorporated under the provisions of Companies Act, 2013 (Act No. 18 of 2013) with corporate identification number (CIN: U62099TN2024PTC169251), and having its registered office at 46 College Road, Nungambakkam, Chennai (hereinafter referred to as “ Ethyx Club ” which includes the person(s)/entity(ies) associated/connected with it) and users registering itself/himself on the Platform ("You" or "Your" or "Yourself" or "User") describe the terms on which Ethyx Club offers You access to the Platform and the Services (as defined below) through the Platform. Please read the Terms of Use carefully before using or registering on the Platform or accessing any material, information or services through the Platform. Accessing, browsing or otherwise using the Platform indicates Your agreement to all the terms and conditions under this Terms of Use and Your agreement to be legally bound by them. By implicitly or expressly accepting these Terms of Use, You also accept and agree to be bound by all Ethyx Club Policies (including but not limited to the Privacy Policy available on our Platform as amended from time to time).
If you do not agree to these terms, you agree that your sole and exclusive remedy is to discontinue using the Platform. Your compliance with these terms is a condition to your right to access the Platform. Your breach of any provision of these terms will automatically, without the requirement of notice or other action, revoke and terminate your right to access the Platform.
1.1 Our Platform is an internet-based portal and web application operated by Ethyx Club to provide technology solutions for Bill Discounting and similar alternate opportunities. Use of the Platform is offered to You conditioned on acceptance of all the terms, conditions and notices contained in these Terms along with any amendments made by Ethyx Club at its sole discretion and posted on the Platform, including by way of imposing an additional charge for access to or use of a Service.
1.2 'Invoice Discounting' is when Companies who are accepted as Invoice Sellers by Ethyx Club can avail funding for invoices issued to their Buyers for the sale of goods or services before their payment term via Ethyx Club , i.e. to assign temporarily, for a fee, individual claims arising from the Agreement concluded with the Buyer indicated on the invoice to Patrons registered on Ethyx Club , who wish to acquire such claims against a fee under the terms and conditions set out in the Invoice Discounting Agreement and the Terms of Use. Invoice Discounting includes discounting invoices in any industry, and includes repeat discounting, where the recurring invoices of Invoice Sellers are discounted, and also includes discounting the money from POS Machines.Invoice Discounting is not a loan, a lending activity or a Collective Investment Scheme(CIS). It is a simple ecommerce transaction which is a buy and sell of claims.
1.3 You agree that Ethyx Club may, at any time, modify or discontinue all or part of the Platform or the services thereunder. Ethyx Club shall not be required to notify You, whether as a registered user or otherwise, of any changes made to the Platform or the services thereunder.
1.4 Ethyx Club may require You to provide Your consent to the Terms of Use in a specified manner prior to any further use of the Platform and the Services provided on the Platform. If no such separate consent is sought, Your continued use of the Platform will constitute Your acceptance of the Terms of Use including those changes made, if any.
2.1. By accessing and using the Website and its Services, you confirm that you have read, understood, and agreed to these Terms. It is important to review these Terms thoroughly. If you do not agree with or cannot adhere to any part of these Terms, please discontinue your use of the Website and terminate your account immediately.
2.2. You can accept the Terms by either:
1. Using the Website; or
2. Actually using the Services.
By doing so, you understand and agree that Ethyx Club will consider your use of the Services as acceptance of the Terms from that moment forward.
3.1 The Platform is an internet based online platform/portal and web application to provide technology solutions for high yield alternative opportunities for passive money including Bill Discounting ("Services").
3.2 You agree and acknowledge that Ethyx Club is merely acting as facilitator of alternative opportunities like Bill Discounting and facilitating alternative requirements for passive money of the Users registered on the Platform AND NOT borrowing or lending nor providing or arranging any credit enhancement or credit guarantee. Ethyx Club may also be a reseller of bills (claims) to be discounted. Further, Ethyx Club also acts as a generator of opportunities for You to discount invoices.
3.3 You understand that Ethyx Club , under certain products offered to You, is assigning the claims attributable to invoices discounted through third party platforms. Ethyx Club does not partake in the structuring of these invoices and is a mere 'reseller' of these invoices. Ethyx Club is not responsible for any liabilities that may arise on third party platforms.
4.1 Any individual, company including a body corporate, LLP (limited liability partnership), partnership firm, HUF (Hindu Undivided Family), trust & Sole proprietorship who is capable/competent to form a binding contract and with a valid Permanent Account Number (PAN) registered with the Income Tax authority under the laws of India can register on the Platform.
4.2 The Services are not available to any Users suspended or removed from Ethyx Club system by Ethyx Club for any reason whatsoever. If You are removed, You shall not be permitted to avail of the Services or use the Platform. Notwithstanding the foregoing, if You are below the age of eighteen (18) years, You may avail the Services provided by Ethyx Club through Your legal guardian in accordance with the applicable laws. You agree and acknowledge that We shall, in no event, be liable to verify your age or extent of parental guidance.
4.3 You acknowledge that Ethyx Club reserves the right to refuse access to use the Services offered at the Platform to new Users or to terminate access granted to existing Users at any time without according any reasons for doing so.
5.1 You shall avail the Services made available by Ethyx Club either by creating an Account (“Registered User”) or without an Account (“Free User”). However, You acknowledge that, being a Free User You may not be able to enjoy all the Services as provided by Ethyx Club . 5.2 In the event You wish to become a Registered User, You have to create an Account with Ethyx Club by providing certain required User information ("User Account") through your personal mobile number(which will be validated through an OTP), including valid email ID or any such other information as may be required for valid registration (collectively, the "Account Information"). The Services may also be subject to procedures for use of the Platform, rules, additional terms of service, or other disclaimer & notices, if any ("Additional Terms"). If there is any conflict between the Terms of Use and the Additional Terms, the Additional Terms shall take precedence in relation to that service. Unless otherwise permitted by Ethyx in writing, You may only possess one account.
5.2 You acknowledge that You will be responsible for maintaining the confidentiality of the Account Information, and are fully responsible for all activities that occur under Your User Account. You agree to (a) immediately notify Ethyx Club of any unauthorized use of Your Account Information or any other breach of security, and (b) ensure that You exit from Your User Account at the end of each session. Ethyx Club cannot and shall not be liable for any loss or damage arising from Your failure to comply with this Section. Further, You understand that You may be held liable for losses incurred by Ethyx Club or any other user of or visitor to the Platform due to authorized or unauthorized use of Your Account as a result of Your failure in keeping Your Account Information secure and confidential.
5.3 The Patron shall facilitate a due diligence to be conducted by Ethyx Club by furnishing to Ethyx Club such documents, information, forms, reports and governmental approvals/permits/registrations.("KYC Due Diligence");
5.4 Subject to the KYC Due Diligence being to the satisfaction of Ethyx Club , the Patron shall, upon such registration, have a limited, non-exclusive, non-transferable license to use the Platform for the purposes of entering into Discounting Transactions with the Sellers and Customers, and the Patron shall be entitled to view the Invoice(s) listed on the Platform by the Sellers and/or the Customers as applicable ("Relevant Invoice(s)"). It is clarified that the KYC Due Diligence is an ongoing process, and the Patron shall be required to submit documents/information from time to time as reasonably required by Ethyx Club to satisfy itself that the Patron is entitled to continue its registration on the Platform. Further, where Ethyx Club is of the opinion that the KYC Due Diligence is not satisfactory, Ethyx Club shall be entitled to terminate this Agreement.
5.5 You shall ensure that the Account Information provided by You in the Platform's registration form is complete, accurate and up-to-date. Use of another user's Account Information for availing the Services is expressly prohibited.
5.6 If You provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or Ethyx Club has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, Ethyx Club has the right to suspend or terminate Your User Account and refuse any and all current or future use of the Platform (or any portion thereof) without providing any notice or according reasons for the same.
6.1 You agree to use the Platform and Services only for lawful purposes. Further, You agree not to take any action that might compromise the security of the Platform or the Services, or render the Platform or Services inaccessible to others or otherwise cause damage to the Platform or Services.
6.2 You agree not to add to, subtract from, or otherwise modify the Platform or to attempt to access any Services or to use the Platform or the Services in any manner that might interfere with the rights of third parties. Ethyx Club reserves the right to monitor your use of the Platform as well as your investment activities by use of the Services availed from the Platform.
6.3 During the use of the Platform or Services offered on the Platform, You shall not post, host, display, upload, modify, publish, transmit, update or share any information that:
6.4 You agree to use the Services, Platform and the materials provided therein only for purposes that are permitted by: (a) the Terms of Use; and (b) any applicable law, regulation or generally accepted practices or guidelines in the relevant jurisdictions.
6.5 You should take all responsibility for your own actions in utilizing the Services and Ethyx Club shall not be liable for any such action.
6.6 You are solely responsible for the content and information shared by You on the Platform, specifically the content You post or upload including but not limited to, videos, photographs, images, comments, data, text, other material and information, and associated trademarks and copyrightable works. Ethyx Club does not endorse and has no or limited control over such contents. Content is not necessarily reviewed by Ethyx Club prior to posting and does not necessarily reflect the opinions or policies of Ethyx Club . Ethyx Club makes no warranties, express or implied, as to the such contents or to the accuracy, integrity and reliability of such contents or any material or information that You transmit to other Users.
6.7 You agree to strictly adhere to all limitations on dissemination, use and reproduction of any materials that You access on the Platform in accordance with the terms hereof.
6.8 You agree not to access (or attempt to access) the Platform and the materials or Services by any means other than through the interface that is provided by Ethyx Club . You shall not use any deep-link, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the Platform or Content (as defined below), or in any way reproduce or circumvent the navigational structure or presentation of the Platform, materials or any Content, to obtain or attempt to obtain any materials, documents or information through any means not specifically made available through the Platform.
6.9 You agree that You are solely responsible to Ethyx Club and to any third party for any breach of Your obligations under this Terms of Use and for the consequences (including any loss or damage which Ethyx Club or its affiliates may suffer) for any such breach.
6.10 In the event that You decide that You will make a purchase of any of the Offerings on the Platform, You agree that You will invest the minimum amount indicated against the offering during the purchase process.
6.11 In the event that You decide that You will make a purchase of any of the Offerings on the Platform, You agree that You will adhere to the 'Lock In' periods indicated against the Offerings. You further agree that you will pay any penalties that may apply if you withdraw your Principal Amount before the end of the term. 'Lock In' period refers to the period of time during which the funds transferred to the Invoice Seller cannot be redeemed without a penalty.
6.12 You are prohibited from using contact information provided by us or other users, or collecting such information, to send or assist in sending unsolicited bulk communications, such as spam. Additionally, you must not permit others to use your account to breach this policy. If you or anyone using your credentials violates these terms, we may immediately terminate your membership or access to the Website and pursue further legal action.
7.1 The Platform and the processes, and their selection and arrangement, including but not limited to all text, design, layout, graphics, user interfaces, visual interfaces, sounds and music (if any), artwork and computer code (collectively, the "Content") on the Platform is licensed to and controlled by Ethyx Club and the design, structure, selection, coordination, expression, look and feel and arrangement of such Content is protected by copyright, trademark and various other intellectual property rights. Any software that is available on the Platform is the property of Ekarth Ventures Private Limited (CIN: U62099TN2024PTC169251) which is licensed to Ethyx Club or of third-party owner of such software (as shall be applicable). You may not use, download or install any software available at the Platform, unless otherwise expressly permitted by these Terms of Use or by the express written permission of Ethyx Club.
7.2 The trademarks, logos and service marks displayed on the Platform ("Marks") are the property of Ekarth ventures Pvt Ltd (CIN: U62099TN2024PTC169251) which is licensed to Ethyx Club . You shall not use the Marks, in any manner whatsoever, without the prior consent of Ethyx Club .
7.3 Unless otherwise indicated or anything contained to the contrary or any proprietary material owned by a third party and so expressly mentioned, You understand and agree that Ekarth ventures Pvt Ltd (CIN: U62099TN2024PTC169251) (which is licensed to Ethyx Club ) owns all intellectual property rights to and into the Platform, including, without limitation, any and all rights, title and interest in and to copyright, related rights, patents, utility models, designs, know-how, trade secrets and inventions (patent pending), goodwill, source code, meta tags, databases, text, content, graphics, icons, and hyperlinks.
7.4 Except as expressly provided herein, You acknowledge and agree that You shall not use, in any manner whatsoever, any Content through any medium without obtaining the necessary authorization from Ethyx Club or thirty party owners of such Content. You agree that by use of the Platform or by availing the Services You shall not obtain any right or interest on the materials and Content.
7.5 You also acknowledge that any violation of the intellectual property rights of Ethyx Club may expose You to legal proceedings in this regard.
7.6 Except as expressly indicated to the contrary in any applicable Additional Terms, Ethyx Club hereby grants You a non-exclusive, freely revocable (upon notice from Ethyx Club ), non-transferable access to view, download and print the contents or any other materials available on the Platform, subject to the following conditions:
8.1 Ethyx Club reserves the right at all times to discontinue or modify any of the Terms of Use as may be deemed necessary or desirable without prior notification to you. Such changes may include, among other things, the adding of certain fees or charges. The revised Terms of Use shall be made available on the Platform. If we make changes to our Terms of Use and you continue to use our Site, you are impliedly agreeing to the Terms of Use and Privacy Policy expressed herein. Any such deletions or modifications shall be effective immediately upon Ethyx Club 's posting thereof. Any use of Platform by User after such posting shall be deemed to constitute acceptance by the User of such modifications.
8.2 Your use of the Platform and the Services is subject to the most current version of the Terms of Use made available on the Platform at the time of such use. You are requested to regularly visit the Platform to view the most current Terms of Use. You can determine when Ethyx Club last modified the Terms of Use by referring to the "Last Updated" legend herein. It shall be Your responsibility to check these Terms of Use periodically for changes and Ethyx club shall not be responsible to notify you about the updated terms of use.
9.1 The Platform makes available general third party information such as, product and service catalogues, advertisements including videos, images and photographs of various products and/or services and other data from external third party sources including web-site links ("Third Party Content"). The provision of Third-Party Content is for general informational or advertisement purposes only. You acknowledge that the Third-Party Content provided to You is obtained from sources believed to be reliable. Ethyx Club does not provide any guarantee with respect to any Third-Party Content and Ethyx Club shall not be held liable for any loss suffered by You based on Your reliance on or use of such data.
You expressly understand and agree that, to the maximum extent permitted by applicable law:
10.1 The Platform, Services, Content and other materials are provided by Ethyx Club on an "as is" basis without warranty of any kind, express, implied, statutory or otherwise, including the implied warranties of accuracy, reliability or fitness for a particular purpose.
10.2 Without limiting the foregoing, Ethyx Club makes no warranty that (i) the Platform or the Services will meet Your requirements or Your use of the Platform or the Services will be uninterrupted, timely, secure or error-free; (ii) the results that may be obtained from the use of the Platform, Services or materials will be effective, accurate or reliable; (iii) the quality of the Platform, Services or other materials will meet your expectations; or that (iv) any errors or defects in the Platform, Services or other materials will be corrected. No advice or information, whether oral or written, obtained by You from Ethyx Club or through or from use of the Services shall create any warranty not expressly stated in the Terms of Use.
10.3 Ethyx Club also disclaims all liability with respect to the misuse, loss, modification or unavailability of any user content.
10.4 Upon registering on the Platform, You are responsible for maintaining the confidentiality of Your User Account or Account Information in connection with the Platform (identification and password information), and for restricting access to your computer. You agree to accept responsibility for all activities that occur under Your member identification and password and Ethyx Club will not be liable for any loss that You may incur as a consequence of unauthorized use of Your User Account or Account Information in connection with the Platform or any Services or materials, either with or without Your knowledge.
10.5 Ethyx Club has endeavored to ensure that all the information on the Platform is correct, but Ethyx Club neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data, information or service.
10.6 Ethyx Club shall not be held responsible for non-availability of the Platform during periodic maintenance operations or any unplanned suspension of access to the Platform that may occur due to technical reasons or for any reason beyond Ethyx Club 's control.
10.7 The advertisement available on Platform or sent through email to You with respect to the third-party website or the products and services are for information purpose only. Ethyx Club shall not be liable for such third-party products or service or content.
11.1 You agree to indemnify, defend and hold harmless Ethyx Club including but not limited to its affiliates, directors agents and employees, assigns from and against any and all losses, liabilities, claims, damages, demands, costs and expenses (including legal fees and disbursements in connection therewith and interest chargeable thereon) asserted against or incurred by Ethyx Club that arise out of, result from, or may be payable by virtue of, any breach or non-performance of any representation, warranty, covenant or agreement made or obligation to be performed by You pursuant to these Terms of Use including the Privacy Policy or any Additional Terms. Further, You agree to hold Ethyx Club harmless against any claims made by any third party due to, or arising out of, or in connection with, Your use (including misuse) of the Platform, any claim that Your material caused damage to a third party, Your violation of the Terms of Use including the Privacy Policy or any Additional Terms, or Your violation of any rights of another.
11.2 Notwithstanding anything to the contrary, Ethyx Club 's entire liability to You under this Terms of Use including the Privacy Policy or any Additional Terms or otherwise shall be the refund of the money charged from You for any specific Service (if any), under which the unlikely liability arises.
11.3 In no event shall Ethyx Club, its officers, directors, employees, partners, suppliers or any other person(s)/entity(ies) associated/connected with it be liable to You for any special, incidental, indirect, consequential or punitive damages whatsoever, including those resulting from loss of use, data or profits, breach of contract or warranty, negligence or other tortious action, or any other claim arising out of or in connection with Your use of or access to the Platform, Services or materials.
11.4 The limitations and exclusions in this section apply to the maximum extent permitted by applicable laws in India.
12.1 You agree that, without prejudice to any other right/remedy available to Ethyx Club under law or otherwise, Ethyx Club may, in its sole discretion and without prior notice, terminate Your access to the Platform and block Your future access to the Platform if Ethyx Club determines that You have violated these Terms of Use including Privacy Policy or Additional Terms. You also agree that any violation by You of these Terms of Use including Privacy Policy or Additional Terms will constitute an unlawful and unfair business practice, and will cause irreparable harm to Ethyx Club , for which monetary damages would be inadequate, and You consent to Ethyx Club obtaining any injunctive or equitable relief that Ethyx Club deems necessary or appropriate in such circumstances. These remedies are in addition to any other remedies Ethyx Club may have at law or in equity.
12.2 You agree that Ethyx Club may, in its sole discretion, and without prior notice, terminate Your access to the Platform, for cause, which includes (but is not limited to): (1) requests by law enforcement or other government agencies; (2) a request by You (self-initiated account deletions); (3) discontinuance or material modification of the Platform or any service offered on or through the Platform; (4) unexpected technical issues or problems; (5) on complaint received by any User on any violation of the terms hereunder and if Ethyx Club is satisfied as to the breach or violation complained or (6) if You breach any of the provisions of the Terms of Use, the Privacy Policy or any other terms, conditions, or policies that may be applicable to You from time to time (or have acted in a manner that clearly shows that You do not intend to, or are unable to, comply with the same) (7) any fraud or misrepresentation provided on the platform by you that is prejudicial to other users or the platform itself. The decision of Ethyx Club shall be final in all such matters.
12.3 Except as may be set forth in any Additional Terms applicable to a particular Service, termination of Your Account may include: (i) removal of access to all Offerings within the Platform or with respect to the Services; (ii) deletion of Your materials and Account Information, including Your personal information, login ID and password, and all related information, files and materials associated with or inside Your User Account (or any part thereof); and (iii) barring of further use of the Services.
12.4 If Ethyx Club does take any legal action against You as a result of Your violation of these Terms of Use, Ethyx Club will be entitled to recover from You, and You agree to pay, all reasonable attorneys' fees and costs of such action, in addition to any other relief granted to Ethyx Club .
13.1 The Terms of Use will continue to apply until terminated by either You or Ethyx Club as set forth below. If You want to terminate Your agreement with Ethyx Club , You may do so by (i) not accessing/using the Platform; or (ii) closing Your accounts for all of the Services that You use, where Ethyx Club has made this option available to You.
13.2 Ethyx Club may, at any time, with or without notice, terminate the Terms of Use (or portion thereof, such as any individual Additional Terms) if:
13.3 Ethyx Club may also terminate or suspend all or a portion of Your User Account or access to the Services with or without reason.
13.4 You agree that all terminations shall be made at the sole discretion of Ethyx Club and that Ethyx Club shall not be liable to You or any third party for any termination of Your Account (and accompanying deletion of Your Account Information), or Your access to the Platform and Services.
13.5 Ethyx Club shall not be responsible to make good any loss or damage caused to you or any third party due to such termination under the provisions of these terms.
14.1 These Terms of Use and all transactions entered into on or through the Platform and the relationship between You and Ethyx Club shall be governed in accordance with the laws of India without reference to conflict of laws principles. Courts at Chennai, India shall have the exclusive jurisdiction over the subject matters of this Terms of Use.
14.2 You agree that all claims, differences and disputes arising under or in connection with or in relation thereto the Platform, the Terms of Use or any transactions entered into on or through the Platform or the relationship between You and Ethyx Club shall be subject to the award of the sole arbitrator to be appointed by the Parties in accordance with its rules and subject to the provisions of the Arbitration and Conciliation Act, 1996 as amended from time to time. The venue of such Arbitration shall be the city of Chennai, India and language of Arbitration shall be English.
15.1 In the event You come across any abuse or violation of these Terms of Use including any Privacy Policy or Additional Terms or if You become aware of any objectionable content on the Platform, please report immediately to Ethyx Club customer support.
16.1 The User hereby consents, expresses and agrees that they have read and fully understands the Privacy Policy of Ethyx Club in respect of the Platform.
16.2 You further consent that the terms and contents of such Privacy Policy are acceptable to You and the platform reserves the right to collect and process user data from you.
16.3 The Ethyx Club hereby undertakes to protect your data with integrity and safety measures and shall implement and maintain appropriate technical and organizational measures to protect personal data against unauthorized or unlawful processing, accidental loss, destruction, or damage.
17.1 Registering on our Platform is free for users. Ethyx Club does not charge any fee for browsing its Platform, however since we are an alternative opportunities facilitation platform we may charge for opportunities facilitated from our platform and pricing of each opportunity listed differs from one to other. For detailed pricing of currently listed opportunities please explore the 'Opportunities' tab of our Platform.
18.1 Ethyx Club is an alternative opportunities facilitation platform, therefore refunds and cancellations are not applicable as such. Participating in opportunities listed on our platform is your independent call and as such you can choose to withdraw any time before making payment. Your mere browsing of our Platform, perusal of opportunity listed or showing interest to participate in opportunity(ies) listed on Platform does not create any contractual right/obligation whatsoever unless and until you make the payment of price mentioned on Platform. Further, we do not warrant subsequent availability of an opportunity for which payment of price is not completed.
19.1 Upon your express consent by way of clicking on the check box provided by Ethyx Club for this purpose, You expressly agree to receive communications (including promotional materials) by way of telephones, WhatsApp, RCS, SMS, e-mails, etc., from Ethyx Club relating to any Services provided through the Platform.
In case any natural or man-made calamity occurs which is beyond the control of the platform as well as its users, resulting in any loss or damage to any transaction being facilitated through the platform, the platform shall not be liable to compensate for any such losses.
21.1 Notice: All notices to Ethyx Club shall be served by email or by general notification on the Platform. Any notice provided to Ethyx Club pursuant to the Terms of Use should be sent to Ethyx Club's customer support blend@nahar.om.
21.2 Assignment: You cannot assign or otherwise transfer the Terms of Use, or any rights granted hereunder to any third party. Ethyx Club's rights under the Terms of Use including the Privacy Policy or Additional Terms are freely transferable by Ethyx Club to any third parties without the requirement of seeking Your consent.
21.3 Severability: If for any reason, a court of competent jurisdiction finds any provision of the Term of Use, or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties as reflected by that provision, and the remainder of the Terms of Use shall continue in full force and effect.
21.4 Waiver: Any failure by Ethyx Club to enforce or exercise any provision of the Terms of Use, or any related right, shall not constitute a waiver by Ethyx Club of that provision or right.
21.5 Relationship: You shall not be deemed either directly or indirectly to be the employer, franchiser, contractor or principal of Ethyx Club or of the associates, representatives, staff/employees of Ethyx Club and these Terms has been executed expressly and solely on a principal-to-principal arrangement.
21.6 Representation: You shall at all times comply with the terms of the Agreements executed by You and Applicable Laws (including tax laws), including the Prevention of Money Laundering Act, 2002 as applicable;
21.7 Taxation: Ethyx Club will deduct Tax at Source(TDS) in compliance with the various Governmental Guidelines.
21.8 e-NACH Consent: You will be required to provide a standing instruction facility(e-NACH mandate) in accordance with clause 12.14 of the Patron Purchase Agreement for the usage of the AutoDiscount feature offered by Ethyx Club . 'AutoDiscount' is a feature offered on Ethyx Club where the returns earned at the end of the term are reinvested in the same Offering.
Certain Services on the Website may have additional terms (such as policies, guidelines, and rules) that further govern your use of those specific Services and supplement these Terms. If you choose to register for or access any such Services, you will be presented with the relevant additional terms and conditions at that time. By using those Services, you agree to comply with these additional guidelines and rules.
23.1 Ethyx Club does not prima facie endorse or promote any of the opportunities that appear on this Platform, nor make any recommendations regarding the same to any Patron.
23.2 Prospective Patrons are not to construe anything on the Platform as investment, business, legal, or tax advice and the content contained herein does not constitute an offer by Ethyx Club to sell and/ or subscribe to any securities. Patrons should connect with a registered financial advisor before making purchases.
23.3 Any information made available from Our Platform, or links to the Platform, do not represent a solicitation of an offer to buy or sell any products. It also does not constitute an offer to provide investment advice, service, or assistance on any particular purchase or transaction.
23.4 Direct and indirect purchase of the Offerings on Ethyx Club involves significant risk and may lose value and are not insured by any Governmental Agency nor are they guaranteed by Ethyx Club , its directors, promoters, employees or any other person. It is the responsibility of the recipient to verify the integrity and authenticity of the information made available.
23.5 Any historical returns, expected returns, or probability projections may not reflect actual future performance. Patrons must be able to afford to bear losses on any purchases made.
23.6 Nothing contained in this Platform should be construed as an authorization by the Securities and Exchange Board of India (“SEBI”) to solicit investments nor should this Platform be construed as a SEBI authorized crowdfunding platform or a stock exchange, or their equivalent or a CIS.
23.7 The Platform is used by us to provide services to our registered users only, and we do not seek to solicit investments from the public at large.
23.8 By using or accessing the Platform, you agree with the Disclaimer without any qualification or limitation.
23.9 The Company reserves the right to terminate, revoke,modify, alter, add and delete anyone or more of the terms and conditions of the Platform without any prior notification.
23.10 The Information on this Platform is presented as general information, and no representation or warranty is expressly or impliedly given as to its accuracy. Nothing on the Platform should be misconstrued as advertising, marketing, booking, selling or an offer for sale or invitation to purchase a unit and/ or securities.
23.11 The Platform is merely an intermediary or facilitator or marketplace and Ethyx Club in no manner is engaged in either grant of loan or borrowing/fund raising from any participants on the Platform.
23.12 The Platform is neither an Online Bond Platform and does not intend to get recognised as an Online Bond Platform under the relevant SEBI Regulation on said matter. The opportunities offered to participants on the Platform are not traded on any Online Bond Platform recognised by SEBI.
23.13 The Platform is neither a stock exchange and does not intend to get recognised as a stock exchange under the Securities Contract (Regulation) Act, 1956 by the Securities Exchange Board of India (“SEBI”) nor authorized by the SEBI to solicit investments. The opportunities offered to participants on the Platform are not traded on any stock exchange recognised by SEBI.
23.14 The Platform is neither a Collective Investment Scheme and does not intend to get recognised as a Collective Investment Scheme under the relevant SEBI Regulation on said matter. The opportunities offered to participants on the Platform are not traded on any Collective Investment Scheme Platform recognised by SEBI.
23.15 'IRR' is the discount rate for which the Net Present Value (NPV) equals zero (when time-adjusted future cash flows equal the initial amount). IRR calculations start from the Start date of Bill Discounting and not when money is transferred. IRR is the indicative return on an offering and is never to be construed to be a promise or a guarantee of returns. All Gross IRRs are indications of returns before deduction of applicable tax, but post Platform Fees, and Charges.
23.16 Ethyx Club uses a third party payment gateway. Any charges incurred on the third party payment gateway are to be borne entirely by the Patron. Ethyx Club will bear no liability for the same.
23.15 'AutoDiscount' is a feature offered on the Platform where the returns earned at the end of the term are reinvested in the same Offering. This is not to be construed as a Portfolio Management Service.
23.16 'Powered By' indicates that in certain cases, the Platform may have a partner with necessary licenses in order to comply with Regulations. In all cases, Ethyx Club is only the Technical Service Provider and does not participate in the flow of funds.
23.17 Ethyx Club reserves the right to decide when subscription to an Offering opens and closes. Ethyx Club also reserves the right to amend subscription opening and closing at any time.
23.18 The Offerings on the Platform may contain invoices that are being offered to You by way of primary sale or secondary sale(re-sell).
23.19 Ethyx Club may offer rewards in the form of marginally higher discount rate or IRR (like 0.1%) to individual Patrons based on their usage patterns. This is not to be construed as a guarantee and Ethyx Club reserves the exclusive right to determine the criteria for rewards.
23.20 'Game name' is a virtual game where users earn Virtual Coins. 'Game Name' is just a simulation where there is no involvement of real money or cryptocurrency.. The purpose of the game is to simulate what the various scenarios are if the Patron invests. The Virtual Coins earned neither have any real world value nor have any value on the Ethyx Club App.
23.21 The Ethyx Club 'Pocket' is not a wallet. It is only a virtual outstanding balance of the funds.
23.22 The Purchase Amount may be deployed either directly in bills discounted by Ethyx Club , or Ethyx, which is an associate of Ethyx Club, or third party platforms. The Purchase Amount may also be deployed in the reselling of Bills originally discounted by a third party.
24.1 The Patron acknowledges that the following annexures which are annexed to the Terms of Use also form an integral part of the Terms of Use:
“KYC” - Documents for KYC Due Diligence
“A” - Ethyx Steady
“B” - EthyxBillX
“C” - EthyxCine
25.1 If You have any questions, complaints or comments about the Platform and/or Services including the Privacy Policy and other policies or questions, then please contact Us with Our customer service team at blend@nahar.om
A. In case of individuals:
i. Aadhar number (and along with the conduct of an offline verification thereof) - After verification, the Aadhar number will be redacted to the extent of the first eight numbers thereof (with only the last four numbers being visible) and then stored, if required;
ii. Permanent Account Number (PAN) or Form No. 60 (as per Income Tax Rules, 1962); and
iii. Bank Account Verification
B. In case of sole proprietorships:
i. Business specific registration certificate in relation to the business carried on by the sole proprietorship, if applicable;
ii. Permanent Account Number (PAN) of the sole proprietorship;
iii. Bank Account Verification
iv. Certificate/license issued by the relevant shops and establishments statute; and
v. Documents specified in paragraph (a) above pertaining to the authorized signatory of the sole proprietorship. Note: The PAN details provided will be verified in the manner determined by Ethyx Club.
C. In case of partnership firms (including limited liability partnerships):
i. Business specific registration certificate in relation to the business carried on by the partnership firm/limited liability partnership, if applicable;
ii. Partnership deed constituting the partnership firm/limited liability partnership;
iii. Permanent Account Number (PAN) of the partnership firm/limited liability partnership; iv. Certificate/licence issued by the under the relevant shops and establishments statute; and
iv. Bank Verification for repayment purposes
vi. Documents specified in paragraph (a) above pertaining to the authorised signatory of the partnership/limited liability partnership.
Note: The PAN details provided will be verified in the manner determined by Ethyx Club .
D: In case of companies:
i. Certificate of incorporation (and 'certificate of incorporation consequent on change of name', in case the name of the company has changed);
ii. Memorandum of association and articles of association;
iii. Latest master data available on the concerned company on the website of the Ministry of Corporate Affairs, Government of India;
iv. Board resolution authorizing the concerned individual to execute all agreements/documents in connection the discounting transactions (as applicable) on the Platform; and
v. Documents specified in paragraph (a) above pertaining to the authorised signatory of the company.
IRR
IRR calculations start from the Start Date of the Interest and not when money is transferred. IRR is the indicative return on an offering and is never to be construed to be a promise or a guarantee of returns.
Minimum Purchase Amount
You agree to purchase the units in the opportunity listed with minimum amount indicated against each opportunity.
Subscription Close
The date on which the subscription will close. You understand that You will not be able to make purchases in the Offering once the subscription closes. You will need to wait for the next subscription to open.
Start Date of Interest
The date on which Interest payment calculations will begin. You understand that interest will not be calculated until the Interest Start Date even if the amount has been debited from Your bank account.
Interest Payment
The date(s) on which Interest will be paid.
Principal Due Date
The date on which the entire original Principal will be repaid.
No of Days of 'Lock In'
'Lock In' period refers to the period of time during which the funds transferred to the Invoice Seller cannot be redeemed without a penalty. You agree that you will pay any penalties that may apply if you withdraw your Purchase Amount before the end of the term.
AutoDiscount - Available
'AutoDiscount' is a feature offered on the Platform where the returns earned at the end of the term are re-used in the same Offering.
Early Withdrawal Penalties - Calculated on Principal Amount
The amount of money that will be deducted as a penalty if You choose to withdraw your money before the Principal Due Date.
Number of Days for Withdrawal
This refers to the number of days it takes for the withdrawn money to be transferred into Your bank account. The date when the withdrawal request is made on the app is 'T' day. The date when the amount is transferred is 'T+7' day.
IRR
IRR calculations start from the Start Date of the interest and not when money is transferred. IRR is the indicative return on an offering and is never to be construed to be a promise or a guarantee of returns.
Minimum Purchase Amount
You agree to purchase the units in the opportunity listed with minimum amount indicated against each opportunity.
Subscription Close
The date on which the subscription will close. You understand that You will not be able to make purchases in the Offering once the subscription closes. You will need to wait for the next subscription to open.
Start Date of Interest
The date on which Interest payment calculations will begin. You understand that interest will not be calculated until the Interest Start Date even if the amount has been debited from Your bank account.
Interest Payment
The date(s) on which Interest will be paid.
Principal Due Date
The date on which the entire original Principal will be repaid.
No of Days of 'Lock In'
'Lock In' period refers to the period of time during which the funds transferred to the Invoice Seller cannot be redeemed without a penalty. You agree that you will pay any penalties that may apply if you withdraw your Purchase Amount before the end of the term.
AutoDiscount - Available
'AutoDiscount' is a feature offered on the Platform where the returns earned at the end of the term are re-used in the same Offering.
Early Withdrawal Penalties - Calculated on Principal Amount
Early Withdrawal is not possible on this Offering.
Number of Days for Withdrawal
This refers to the number of days it takes for the withdrawn money to be transferred into Your bank account. The date when the withdrawal request is made on the app is 'T' day. The date when the amount is transferred is 'T+7' day.
IRR
IRR calculations start from the Start Date of the interest and not when money is transferred. IRR is the indicative return on an offering and is never to be construed to be a promise or a guarantee of returns.
Minimum Purchase Amount
You agree to purchase the units in the opportunity listed with minimum amount indicated against each opportunity.
Subscription Close
The date on which the subscription will close. You understand that You will not be able to make purchases in the Offering once the subscription closes. You will need to wait for the next subscription to open.
Start Date of Interest
The date on which Interest payment calculations will begin. You understand that interest will not be calculated until the Interest Start Date even if the amount has been debited from Your bank account.
Interest Payment
The date(s) on which Interest will be paid.
Principal Due Date
The date on which the entire original Principal will be repaid. EthyxCine is a plan where the return window is usually a range of 2-3 months (The anticipated schedule will be updated on the Ethyx Club App ). The IRR indicated against the offering will remain unchanged.
No of Days of 'Lock In'
'Lock In' period refers to the period of time during which the funds transferred to the Invoice Seller cannot be redeemed without a penalty. You agree that you will pay any penalties that may apply if you withdraw your Purchase Amount before the end of the term.
AutoDiscount
'AutoDiscount' is a feature offered on the Platform where the returns earned at the end of the term are re-used in the same Offering.
Early Withdrawal Penalties - Calculated on Principal Amount
Early Withdrawal is not available on this Offering.
Number of Days for Withdrawal - T+7
This refers to the number of days it takes for the withdrawn money to be transferred into Your bank account. The date when the withdrawal request is made on the app is 'T' day. The date when the amount is transferred is 'T+7' day.