Introduction

These Terms and Conditions govern your participation in the chit fund services provided by Kapil Chits Karnataka. By registering for and using our services, you agree to be bound by these terms. If you do not accept these terms, you may not participate in our chit funds.

1. Eligibility

• Participants must comply with the applicable laws.
• Accurate information must be provided during registration, including KYC details.

2. Membership and Obligations

• Each participant agrees to contribute the specified monthly amount to the chit fund.
• Any default in contributions may result in interest levy or membership suspension.
• Participants are responsible for maintaining updated contact and banking information.

3. Chit Auction Process

• Auctions will be conducted as per the chit fund agreement.
• The winning bidder must adhere to the agreed discount or other applicable conditions.
• Payouts will be processed at a certain timeframe after the auction, subject to necessary verifications.

We do not sell your data to third parties.

4. Termination of Membership

We reserve the right to terminate your membership for reasons including:

• Fraudulent or unethical behavior.
• Consistent default in monthly contributions.
• Violation of these Terms and Conditions.

5. Refund and Cancellation

• No refunds will be processed once contributions are made unless specified under exceptional terms outlined in the chit fund agreement.
• Participants wishing to cancel their membership must notify us in writing. The cancellation will be subject to certain conditions laid down by the company.

6. Limitation of Liability

• Kapil Chits Karnataka is not liable for delays or losses caused by unforeseen circumstances (e.g., natural disasters, government restrictions, and others).
• Participants must independently evaluate their financial commitments before joining the chit fund.

7. Dispute Resolution

• Any dispute arising shall first be resolved through mutual negotiation.
• If unresolved, disputes may be referred to arbitration or resolved as per applicable laws.

8. Modifications to Terms

We reserve the right to modify these Terms and Conditions at any time. Updated terms will be communicated via our website or other official channels.

9. Governing Law

These terms are governed by the laws of Karnataka State.

Contact Us

For clarifications regarding these Terms and Conditions, reach out to:
sales@kapilkarnatakachits.com | +91 90005 50901