This Fair Practices Code Policy (“Code”) is adopted by Samraat Finlease Private Limited (“the Company”), a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, in accordance with the applicable guidelines on Fair Practices Code issued for NBFCs. This Code is also aligned with the provisions of the Digital Lending Guidelines, 2022 and other relevant circulars, directions, and regulatory instructions issued by the Reserve Bank of India from time to time, with an emphasis on ensuring customer protection, transparency, and fair lending practices. The Code lays down the principles and standards to be followed by the Company in all its dealings with customers and is intended to provide a clear, transparent, and comprehensive understanding to all stakeholders, including but not limited to customers, of the practices adopted by the Company in respect of the products and services offered. This Code shall be applicable to all business operations of the Company and shall be binding on all employees, agents, and authorized representatives dealing with customers on behalf of the Company.
The objectives of this Fair Practices Code are as follows:
For the purpose of this Code, the following terms shall have the meanings assigned to them below:
The Code is available on the website, at offices, and on request.
The Company has established an effective and robust grievance redressal mechanism to address and resolve customer complaints in a prompt and transparent manner. All grievances shall be handled by designated officials authorized by the Company. The details of the designated Grievance Redressal Officer, including the name, designation, contact details, and escalation mechanism, shall be available in the Company’s Grievance Redressal Policy, which shall be made accessible to customers through appropriate channels. Customers may register their complaints or raise concerns through the following channels:
The provisions contained in this Part (Section 13 onwards) govern the access to and use of the Company’s digital platform, including its website and the services offered thereon. These provisions are independent of, and in addition to, the Fair Practices Code set out in Part A of this Policy and are intended to ensure transparency, accountability, and customer protection in digital lending operations, in compliance with applicable laws and regulatory guidelines, including those issued by the Reserve Bank of India from time to time.
The customer shall not:
The information and materials available on the Company’s platform are provided for general informational purposes and shall be read together with the applicable loan documents, including the Loan Agreement and other disclosures provided to the borrower.
The Company shall endeavour to ensure that the information displayed on the platform is accurate and updated; however, the terms and conditions contained in the applicable loan documents shall prevail in case of any inconsistency.
The customer shall be responsible for reviewing and understanding the applicable terms, conditions, and disclosures before availing any loan or service from the Company.
All rights, title, and interest, including intellectual property rights, in and to the Company’s name, logo, trademarks, brand elements, website, platform, and related materials shall remain the exclusive property of the Company or its respective licensors.
Nothing contained in these terms shall be construed as granting any right, title, or interest in the Company’s intellectual property to any customer or third party. The customer shall not copy, modify, misuse, or exploit any such intellectual property without prior written consent of the Company.
The customer is granted a limited right to access and use the Company’s platform and services solely for availing the services provided by the Company and in accordance with these terms.
The Company may suspend or terminate access to its digital platform and services in the event:
The Company shall endeavour to ensure that the information provided through its digital platform is accurate, complete, and updated. However, the Company does not warrant that access to the platform or services will always be uninterrupted, timely, secure, or free from technical errors, as certain factors may be beyond the reasonable control of the Company.
The customer acknowledges that access to the platform is subject to the availability of internet connectivity, compatible devices, and other technical requirements that may be beyond the reasonable control of the Company.
The customer shall be responsible for reviewing and understanding the applicable loan terms, conditions, and disclosures before availing any services from the Company.
Nothing contained on the platform shall override or supersede the terms and conditions of the Loan Agreement or other applicable loan documents executed between the Company and the borrower.
The customer shall indemnify and hold harmless the Company, its directors, employees, and authorized representatives against any loss, damage, liability, claim, or expense arising out of:
The Company shall not be liable for any loss, damage, or liability arising due to circumstances beyond its reasonable control, including technical failures, interruptions, delays, or issues relating to internet connectivity or third-party infrastructure.
The Company shall not be responsible for any loss arising from the customer’s misuse of the platform, unauthorized access to the customer’s account, or failure to comply with applicable terms and conditions.
Nothing contained in this clause shall limit or exclude any liability of the Company arising from its obligations under applicable laws, regulatory requirements, or the Loan Agreement executed with the borrower.
The Company shall not be liable for any delay, interruption, or inability to provide services due to events or circumstances beyond its reasonable control, including but not limited to natural disasters, acts of God, internet or network failures, telecommunications failures, power outages, system failures, changes in applicable laws or regulations, governmental actions, civil disturbances, strikes, or any other force majeure event.
The Company shall endeavour to take reasonable steps to restore the affected services as soon as practicable after the cessation of such events.
The collection, processing, storage, and use of personal information of customers in connection with the services provided by the Company shall be governed by the Company’s Privacy Policy, as amended from time to time.
The Company shall ensure that customer data is collected, processed, and handled in accordance with applicable laws, regulatory guidelines, and the consent provided by the customer.
The Company reserves the right to modify, amend, update, or replace these terms from time to time. Any such changes shall be communicated through the Company’s platform or other appropriate channels and shall become effective from the date specified by the Company.
Continued use of the services after such changes shall constitute acceptance of the revised terms.
These terms shall be governed by and construed in accordance with the laws of India.
Any dispute, claim, or controversy arising out of or in connection with these terms shall be subject to the jurisdiction of the competent courts in accordance with applicable laws.
Entire Agreement: These terms, together with the Loan Agreement and Privacy Policy, constitute the entire understanding between the customer and the Company with respect to the services and supersede any prior communications or understandings relating to the same.
No Waiver: Any failure or delay by the Company in exercising any right or remedy under these terms shall not be construed as a waiver of such right or remedy.
Severability:
If any provision of these terms is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue to remain valid and enforceable to the extent permitted by applicable law.
Customers may report any concerns, complaints, or issues relating to these terms or the services provided by the Company through the grievance redressal channels specified in this document.