1.1 This document is an electronic record in terms of the Information Technology Act, 2000 and Rules framed thereunder. This electronic record is generated by a computer system and does not require any physical or digital signatures.
1.2 This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that requires publishing the rules and regulations, privacy policy and terms of use for access or usage of the platform.
1.3 Part I and part II of these terms of use shall be collectively referred to as the ‘Terms’ and shall always be read together.
1.4 You acknowledge and agree that by browsing the Platform or using the Platform, You have carefully read and agreed to be bound by these Terms and any additional terms that apply. In the event that you do not agree to this Terms, you shall refrain from accessing the Platform.

2.1 For the purpose of these Terms, wherever the context so requires, the term:
2.1.1 "Customer” shall mean any individual, who buys digital gold by CaratLane on the Platform, (as defined below), or who sells back the digital gold to CTPL, or who authorises a transfer of the balance for purchase of CaratLane jewellery.
2.1.2 "Customer Request” refers to a Purchase Request, Sale Request or Exchange Request placed by You in relation to the Customer CaratLane digital gold balance.
2.1.3 "CaratLane Digital Gold Account Information” shall mean the information provided by You for the purpose of creation of the CaratLane Digital Gold Account.
2.1.4 "CTPL Platform” refers to CaratLane’s website at www.caratlane.com or the mobile application offered and maintained by it.
2.1.5 "CL Digital gold” shall mean the digital gold offering of CTPL backed by a standard 24 carat gold of 99.9% for each unit of digital gold
2.1.6 "Force Majeure Event” shall mean any event that is beyond the reasonable control of CaratLane and/or the Platform and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, pandemic or epidemic, government imposed lockdowns or restrictions including due to any pandemic, etc. not within the control of the Platform and/or CTPL.
2.1.7 "Payment Instrument” refers to the electronic mode of payment used for the transmission or payment of money.
2.1.8 "Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization and any other legal entity.
2.1.9 "Platform" shall mean      PhonePe Private Limited,      the mobile application and/or website, that offers payment technology solutions for facilitating / processing payments for CL Digital Gold transactions.
2.1.10 "CaratLane Gold” shall mean 24 karat gold of 99.9% purity, offered to the Customer by CaratLane under the brand name CaratLane Digital Gold”.
2.1.11 “CaratLane Digital Gold Account” shall mean the account created by You on the Platform in accordance with these Terms.
2.1.12 “Transfer” refers to a facility to transfer Gold from a CaratLane Digital Gold Account to another Gold Account.
2.1.13 “CTPL Partner” refers to PhonePe Pvt. Ltd. (“PhonePe) which shall be the entity providing payment services and facilitating collection of payments for Gold offered by CTPL on the Platform.
In addition to the terms defined in Section 2.1, additional terms used herein shall have their respective meanings assigned thereto in the relevant sections contained hereinafter.

3.1. CaratLane Trading Private Limited, a company incorporated under the Companies Act, 1956 with its registered office at 727, Anna Salai, Pathari Road Thousand Lights, Chennai, Tamil Nadu 600006 IN, ("CTPL") will be selling gold and providing services of safe keeping/vaulting and delivery/fulfillment of gold and related services thereto to the Customers, on or through the CTPL Platform and platform operated by CaratLane Partner.

3.2. The gold is being offered for purchase and/or sale by CTPL under its brand name “CL Digital Gold”. The Services are being provided by CTPL and CTPL Partner’s responsibility shall be restricted to facilitating transactions and collection of payments for the CTPL services on its P     latform.      Any and all of the transactions relating to the Services being rendered by CTPL in association with the Intermediaries (namely the Administrator and Vault Keeper) with whom separate agreements have been entered into by CTPL.

3.3. The customer is bound by these Terms with regard to Gold. It is clarified that these Terms are in addition to any other terms and conditions on the platform.  The Customers are advised to read and understand these Terms carefully before using the Services.

3.4.  CTPL and /or the CTPL P     artner do not guarantee any returns, on any transactions consummated vis-à-vis the CTPL services, to any person, either directly or indirectly. The Customer (hereinafter referred to as “You”, with the term “Your” being construed accordingly) shall be solely and absolutely responsible for applying appropriate and effective due diligence and analysis before undertaking any transactions pursuant to these Terms. You further acknowledge and agree that CTPL and/or the CTPL Partner CTPL and its officers, directors, employees, agents and affiliates will have no liability for Your purchase or other decisions using the Platform.

3.5. The Services by CTPL shall be provided for the term commencing from the date of creation of the CaratLane Digital Gold Account.

3.6. You understand and acknowledge that the Services are being provided and made available on an “AS IS” basis. The Platform may contain errors, mistakes or inaccuracies that could cause failures, corruption or loss of data and/or information from Your device and/or any device used by You to connect to the Platform as well as from peripherals (including, without limitation, servers and computers) connected to any of the above-mentioned devices. It is hereby clarified that You assume all risks and costs associated with Your use of the Services and the Platform, including without limitation, any costs incurred for the use of Your device and any damage to any equipment, software or data.

3.7. You confirm that you are not registered under the Goods and Services Tax Act, 2017 and that if, in the course of your relationship with CTPL, you become registered under the Goods and Services Tax Act, 2017, you shall inform CTPL of your change in status immediately, and provide any relevant information and documents, as may be requested.

3.8. The customer is informed that the services w.r.t digital gold by CaratLane are rendered from Akruti Star, MIDC Central Road, Mumbai, Mumbai Suburban, Maharashtra, 400093 
4.1. Appointment of Intermediaries
4.1.1. CTPL shall enter into agreements with third party entities to assist CTPL in providing the     services to You.
“Intermediaries” shall refer to the Administrator, Vault Keeper and shall include any and all Persons appointed by CTPL or the Administrator (as the case may be) upon placement of a Customer Order (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by You in accordance with these Terms. You hereby provide your express consent for the appointment of such Intermediaries, for and on Your behalf, by CTPL or the Administrator (as the case may be).
4.1.2. You acknowledge and understand that these Intermediaries have been appointed to ensure that Your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by CTPL on Your behalf unless otherwise indicated in these Terms.
4.2. Appointment of Administrator
4.2.1. You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, Administrator shall be authorised to act on your behalf with respect to Your CL Digital Gold Balance.
4.2.2. By accepting these Terms, You further agree to accede to the terms for such arrangement with the Administrator (collectively, “Administrator Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Administrator Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Administrator Agreements; and will be bound by all the terms and conditions of the Administrator Agreements.
4.2.3. In the event of any expenses or charges remaining payable to any Intermediaries or otherwise till actual delivery or fulfilment of any of Your Customer Orders/Customer Requests for any reason, including where CTPL is unable to pay these expenses or charges for any reason whatsoever, thereby adversely effecting or jeopardizing the fulfilment of Your Customer Orders/Customer Requests, then the Administrator will be entitled to sell part of the Customer Gold and satisfy such outstanding expenses or charges as required in accordance with these Terms read with the Administrator Agreements. The sums due to You and/or Customer CL Digital Gold Balance to be delivered (as the case may be), after settling the aforementioned charges, would be dealt with in accordance with these Terms read with the Administrator Agreements.
4.2.4. By way of these Terms, You authorize the Administrator to act on Your behalf to ensure that Your interests are adequately protected.
4.3. Safe Keeping/Vaulting of Gold
4.3.1 CL digital gold purchased by You corresponding to the Customer Order shall be bought and stored with a custodian in a vault on Your behalf (“Vault Keeper”) within 48 hours.
4.3.2. You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) CTPL to store such CL Digital Gold  products purchased by You, including, but not limited to, bullion or coins (as the case may be) in the secured vault on Your behalf (“Customer Gold”). It is hereby clarified that Your purchase of the gold corresponding to the Customer Order shall be deemed to be completed and title in relation thereto shall be deemed to have been passed, upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on Your behalf or upon a final invoice being issued by CTPL in accordance with these Terms, subject to applicable laws.
4.3.3. The vault keeper has obtained the requisite and necessary insurance policy/ies to ensure adequate protection of the Customer Gold stored in such vault wherein where the cost of this is borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Administrator to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.
4.3.4. The insurance policy/ies obtained by the Vault Keeper are in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc. However, while the Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an event not covered in such insurance policy/ies, the Customer Gold may be at risk. The insurance policy/ies obtained by the Vault Keeper are in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc.
5.1. CTPL may offer You the ability to transfer your gold to another recipient, by means of the “gift” feature, or as part of another product function such as exchanging your CL Digital Gold Balance purchased through the Platform for jewellery.

5.2. It is expressly clarified that such functionality of Gifting or      exchanging your CL Digital Gold Balance purchased on the Platform for jewellery shall be available only at retail stores or platforms offered by CaratLane Trading Private Limited  (CaratLane).

5.3. Any such transfer of gold from you to another recipient shall only be valid if exercised through a method or functionality offered by CTPL.

5.4. Gifting Gold:
5.4.1. CTPL may offer Customers the ability to gift Gold purchased by the Customer, to a recipient of their choice. This will be offered as the “gift gold” feature (“CL Digital Gold Gift”).
5.4.2. Neither CTPL nor the CTPL Partner      shall be responsible for the acceptance or rejection of the CL Digital Gold Gift by the intended recipient, or for verifying the correctness of the mobile number or other identification information provided for the intended recipient by the Customer.
5.4.3. CL Digital Gold Gifts shall be final, and CTPL shall not be responsible for amending, altering or otherwise reversing the transaction in case the gift is delivered to an unintended recipient due to any error on the part of the Customer.
5.4.4. However, in case the intended Recipient does not accept the CL Digital Gold within the prescribed time, the Customer Digital Gold balance shall revert to the Customer’s CaratLane Digital Gold Account.
5.5. Exchange for Jewellery
5.5.1. Customers shall be able to exchange their CL Digital Gold Balance for jewellery exclusively through      CTPL, i.e. through retail stores or platforms offered by CaratLane. This will be offered as part of the “exchange for jewellery” feature.
5.5.2. Customers may opt for this functionality by following the procedure described on the Platform, as offered by CTPL. The transaction shall only be initiated upon the express instructions of the Customer to the CTPL.
5.5.3. Customers will be sent an OTP by CTPL to verify the transaction and confirm that they wish to proceed with the transfer of CL Digital Gold Balance to CTPL. By communicating the OTP to the CTPL, You agree to allow CTPL to debit your digital gold account balance to the extent required for the purchase of your chosen jewellery product.
5.5.4. Any additional charges for the jewellery product selected shall be borne by the Customer.
5.5.5. You may note that the gold rate as applicable in the CaratLane retail stores or platforms will be applicable for the purchase of jewellery. Further, other purchase terms and conditions may be imposed by CTPL for purchase of jewellery.
5.5.6. Once a transaction has been deemed to be final and an invoice generated for the transaction, Customers shall not have the ability to cancel or request for a refund, unless specifically allowed by CTPL.
5.5.7. The CTPL at its sole discretion may extend discounts for purchase of jewellery.
5.5.8. Once a transaction is deemed to be final, any disputes with respect to the jewellery product selected shall be resolved directly between CTPL and the Customer.
You will be provided with free storage for your Customer Gold for 10 years, or for such period as more particularly stipulated by CTPL in this regard from time to time at its sole discretion and this shall be adequately notified to Customers on the CTPL Platform (“Free Storage Period”).
6.1. You are required to take delivery of the underlying Gold of each Digital Gold unit within such maximum period as shall be specified for this purpose by CTPL from time to time on the Platform (“Maximum Storage Period”), which is currently limited to 10 years from the time of purchase of digital gold. CTPL reserves the rights to amend these terms and conditions periodically as deemed necessary and the same shall be effective thereon.
6.2. You are required to provide a valid address and/or any other documents/information/ biometric identification that may be specified in this regard by the CTPL and/or CTPL Partner on the Platform from time to time for the purposes of making delivery to You.
6.3. You may provide such address at any time during the Maximum Storage Period. In the event that no valid address has been provided by You during the Maximum Storage Period, then the CTPL and/or CTPL Partner shall for a period 1 year commencing from the date of expiry of Maximum Storage Period (such period being the “Grace Period”) attempt at least once to contact You using the contact information provided by You to obtain either (i) an address to which You would require the digital gold by CaratLane Balance in question to be delivered or (ii) Your bank account details into which sale proceeds of the Customer Gold shall be deposited.
6.4. In the event that the CTPL and/or CTPL Partner have not been able to contact You during the applicable Grace Period using the contact information provided by You or where You shall during the Grace Period either fail to:
(a) take delivery of the gold in question for any reason whosoever (including where You shall not have provided any address to take delivery of such gold); or
(b) provide the details for a valid bank account into which the proceeds of any sale of such Customer Gold is to be deposited;
then upon expiry of the applicable Grace Period for the Customer Gold in question, CTPL shall purchase such Customer Gold with the purchase price being the applicable prevailing price displayed on the Platform for purchase of digital gold by CaratLane from Customers and will be sold by CTPL.
6.5. The purchase proceeds realized from such sale (“Final Sale Proceeds”) after deducting any amounts payable to CTPL as storage charges for storage of such gold after the Free Storage Period, shall be deposited into a bank account operated by the /Administrator who shall be the sole signatory to such bank account.
6.6. In the event that You shall during a period of 3 years commencing from the date of expiry of the applicable Grace Period (such period being the “Final Claim Period”) notify either The CTPL, CTPL Partner or the Administrator that You are claiming the applicable Final Sale Proceeds, the Administrator shall issue suitable instructions to transfer the Final Sale Proceeds to such bank account as You shall notify for this purpose.
6.7. Please note that to claim the Final Sale Proceeds You will be required to provide details of a valid bank account and that the Final Sale Proceeds will not be transferred in the absence of such details. At no time will the Final Sale Proceeds be paid to you in cash.
6.8. In the event that You shall not claim Your Final Sale Proceeds within the Final Claim Period, then the Final Sale Proceeds shall be transferred to the Prime Minister’s Relief Fund or such other fund as You may designate for this purpose at any time prior to the expiry of the Grace Period.
If performance under these Terms is prevented, restricted, delayed or interfered with by reason of labour disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, pandemic, government mandated lockdown, Trojan virus or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, epidemic, pandemic, government imposed shutdown of businesses or lockdowns, or failure of any device used to access the Platform, or any other act whatsoever, whether similar or dissimilar to those referred to in this section, which are beyond the reasonable control of the CTPL and/or CTPL Partner and could not have been prevented by reasonable precautions then the CTPL and/or CTPL Partner shall be discharged from such performance to the extent of and during the period of such force majeure event. Such non-performance by the CTPL and/or CTPL Partner shall, in no manner whosoever, amount to a breach of its obligations herein.
8.1. CTPL Partner may itself or post discussions with CTPL modify, suspend, or terminate access or CTPL may request the CTPL partner to modify, suspend, or terminate access to, all or any portion of the Platform or Your ability to access any Services through the Platform at any time for any reason including termination for breach of any of these Terms or occurrence of a Customer Event of Default or the Privacy Policy.
8.2. The term “Customer Event of Default” shall mean any default by a Customer of its obligations owed to the Administrator, under the Administrator Agreements.
8.3. These Terms shall further stand terminated:
8.3.1. if CTPL is adjudged bankrupt or declared insolvent;
  8.3.2. if CTPL ceases to carry on its business or has communicated to the Administrator any intention to cease to carry on its business;
8.3.3. if CTPL breaches any of the terms and conditions under the Administrator Agreements or Terms and CTPL does not remedy such breach within 90 (ninety) days of being called upon to do so by the Administrator;
8.3.4. upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of CTPL;
8.3.5. upon CTPL commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution;
8.3.6. upon an order being made for the winding up, bankruptcy or dissolution of CTPL, or an application is admitted for initiating any corporate insolvency resolution process against CTPL in accordance with Applicable Law;
8.3.7. upon any encumbrancer lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of CTPL, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the assets or property of CTPL, or any action has been taken or suffered against CTPL towards liquidation or dissolution or similar reorganization; or
8.3.8. upon a liquidator or provisional liquidator being appointed to CTPL or a receiver, receiver and manager, trustee or similar official being appointed in respect of CTPL or any of its assets, or an event analogous.
8.4. Upon the happening of any of the events referred to in Section 8.3, and where there is any insufficiency of CTPL funds required to pay any costs and expenses to be incurred in relation to providing delivery of the underlying Gold representing the digital gold to You, then in such an event You do hereby authorise the Administrator to sell any part of the Customer Gold, that is necessary or required to defray such costs and expenses.
8.5. Pursuant to the Administrator Agreements, CTPL has created a charge by way of hypothecation in favour of the Administrator for the benefit of the Customers over: (a) the monies lying in the Collection Account from time to time; and (b) gold purchased by CTPL from time to time and lying with the Vault Keeper or in transit and, which is the property of CTPL; (collectively “Security”).
8.6. Upon the occurrence of any of the events detailed in Section 8.1 and 8.2, the Administrator under the Administrator Agreements is to: (i) declare all outstanding amounts as due and payable to the Administrator forthwith; and (ii) take charge and/or possession of, seize, recover, receive and remove the Security and use the same to discharge any liability of CTPL to the Customers. You however expressly understand and acknowledge that any enforcement of the Security would always be subject to and undertaken in accordance with the provisions of Applicable Law and therefore:
(i) it is not possible to accurately predict the time required to make any such distribution; and/or
(ii) the amount received by You from such distribution may not be sufficient to completely extinguish CTPL’s liability to You;
and consequently, no liability shall accrue to the Administrator in relation to the above.
8.7. The CTPL may, with or without notice to you, discontinue to make the Services available through the Platform and in such case Your CaratLane Digital Gold Account may be closed and will be dealt with      in the manner specified in Section 16.2 of these Terms.
9.1. Upon such termination for any reason whatsoever, subject to these Terms read with the Administrator Agreements:
9.1.1. Fractional amounts for CTPL Digital Gold Balance holdings of less than 1 (One) gram may be sold and cash in pursuance thereto will be sent directly to Your bank account, after deducting all the requisite charges relating to appointment of Intermediaries (including but not limited to charges due and payable to Intermediaries and any other out of pocket expenses, custody charges, minting and delivery charges) (“Charges”).
9.1.2. For greater than or equal to 1 gram      CL Digital Gold Balance holdings, the Administrator shall (to the extent You have not already paid for all the Charges) be allowed to sell part of Your CTPL Digital Gold to pay for all the Charges to all the Intermediaries. The remaining portion of the CTPL Digital Gold Balance shall be delivered to You in accordance with these Terms, along with the details of the deductions made and the quantum of gold that You are entitled to receive.
9.2. The termination of Your access to the Platform and Services may be affected without any prior notice to You, and the CaratLane Digital Gold Account may be immediately deactivated or deleted and Your further access to the CaratLane Digital Gold Account, the Platform or the Services shall be barred. Further, You agree that the CTPL and/or CTPL Partner shall not be liable for any discontinuation or termination of Services by any third party.
9.3. Upon termination of your account, none of Your content shall remain accessible nor can any information be recovered by You.
9.4. The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.
These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Chennai shall have exclusive jurisdiction over any disputes arising under these Terms. In the event of any dispute arising out of these Terms the same shall be settled by a binding arbitration conducted by a sole arbitrator, appointed jointly by both parties and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Chennai, Tamil Nadu, India.
11.1. The Customer shall complete the registration process as may be prescribed from time to time before availing the Services offered on the Platform. The Customer shall ensure that they follow the instructions given on the Platform while setting up their CaratLane Digital Gold Account.  You hereby acknowledge that CTPL and/or CTPL Partner are entitled to collect and store relevant information and documents provided by the Customer to the Platform for KYC purposes.
11.2. As and when required by CTPL and/or the CTPL Partner, the Customer will be required to provide additional documents for fulfilling the KYC requirements and You hereby authorize CTPL and the CTPL Partner to make such enquiries as may be necessary. It is hereby clarified that You shall solely and absolutely be liable and responsible for the correctness and accuracy about the information provided to CTPL and the CTPL Partner by You from time to time. If You become aware or have reason to believe that there is an error, inaccuracy or outdatedness in the information provided by You, You shall immediately notify CTPL and provide correct / updated information at the earliest.
11.3 In the event that the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful, CTPL or CTPL Partner reserves the sole and absolute right to terminate Your CaratLane Digital Gold Account, with or without notice to You. You hereby undertake to indemnify and keep indemnified the CTPL and/or CTPL Partner against any and all losses, claims, liabilities costs etc. which arise out of or relating to Your failure to identify Yourself and validate Your account promptly and / or due to incorrect KYC documents / information.
11.4. Know Your Customer (KYC) and Verification
11.4.1. Prior to placing an order, You may be required to provide certain KYC documentation and other information as may be required by the CTPL and/or CTPL Partner in such form and manner as it may deem fit. This information may be requested from you at the time of registration, or at a later stage.
11.4.2. Once such documentation and other information is provided by You to The CTPL and/or     CTPL Partner, You shall be entitled to place an order on the Platform (“Customer Order”).
11.4.3. You agree that Your continued use of the Platform, consequent upon the creation of the CaratLane Digital Gold Account, is subject to verification by CTPL and/ or the CTPL Partner (on behalf of CTPL), of the information and documentation provided by You. You hereby grant CTPL and/ or the CTPL Partner permission to conduct such verification, in such form and manner as it may deem fit.
11.4.4. You further acknowledge that CTPL and/ or the CTPL Partner reserves the right for such verification either on registration of the Gold Account or at any time thereafter. You hereby authorise CTPL and/or the CTPL Partner to engage with any third-party service provider for verification of your KYC documentation to ascertain your eligibility. Any processing undertaken by CTPL and/or the CTPL Partner to process KYC documents shall be in accordance with its privacy policy and these Terms. It is hereby clarified that as far as the permission to access the KYC documents by a third party service provider is concerned, the same shall be governed by the privacy policy of such third party service provider.
11.5. Customer’s Obligations
11.5.1. It is hereby clarified that You be solely and absolutely responsible for maintaining the confidentiality of Your CaratLane Digital Gold Account Information, and shall be fully responsible for all activities that occur under your CaratLane Digital Gold Account. In the event of any unauthorised use of the CaratLane Digital Gold Account Information or any other breach of security, You agree to immediately notify the CTPL and/or CTPL Partner of the same. CTPL or the CTPL Partner cannot and will not be liable for any loss or damage arising from Your failure to comply with this section. You may be held liable for losses incurred by CTPL or the CTPL Partner or any user or visitor of the Platform due to authorised or unauthorised use of the CaratLane Digital Gold Account, as a result of your failure in keeping the CaratLane Digital Gold Account Information confidential.
11.5.2. You shall ensure that the Digital Gold Account Information provided by You in the registration form is complete, accurate and up-to-date. You shall not use      another Customer’s account information in any manner whatsoever in the availing of any of the Services and/or for use of the Platform and the same is expressly prohibited.
11.5.3. The CTPL and CTPL Partner through the CTPL Partner shall have the right to indefinitely suspend or terminate or block access to the CaratLane Digital Gold Account on the Platform and refuse to provide You with access to the Platform, or take any other action as it deems fit if You provide any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if the CTPL and CTPL Partner have reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms,
12.1. You can offer to buy Gold worth Rs.1.00 (Rupee One Only) and above incremental value thereof at the market linked prices of gold shown on the Platform. Market linked prices means that these quotes are linked to the prices of gold in the commercial bullion market in India.
12.2. It is hereby clarified that such market linked prices of gold shall constitute fully binding offers and would be an invitation to offer to purchase gold at the said market prices to all Customers. Notwithstanding the foregoing, You understand that these prices may vary multiple times within a day, and accordingly Your payment obligations for any order will depend on the market linked prices then prevailing. While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.
12.3. Payment will be accepted through the payment options made available on the Platform, which may include redirection to a Payment Gateway hosted by other third party website or platform, including by CTPL. At the time of purchase / fulfilment / sale-back / transfer of Caratlane digital gold, the relevant taxes will be chargeable as applicable as per the Government regulations.
12.4. It is hereby clarified that once a Customer Order is placed, You are not entitled to cancel a Customer Order, provided however that a Customer Order shall stand cancelled if the payment fails for any reason whatsoever.
12.5. The CTPL and/or CTPL Partner reserves the right to cancel a Customer Order, at its sole discretion, if Your information, provided prior to placing the Customer Order, is not found acceptable and the CTPL and/or CTPL Partner are of the opinion that You are not eligible to purchase digital gold. The CaratLane Digital Gold Account shall accordingly stand amended. The CTPL as well as CTPL Partner shall have the right to freeze the CaratLane Digital Gold Account until it receives KYC and other documentation in a form and manner satisfactory to The CTPL and CTPL Partner.
12.6. Once the payments are received by CTPL and the KYC information is found acceptable, CTPL shall issue an invoice to You confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, in a manner it may deem fit.
12.7. Notwithstanding anything to the contrary contained in these Terms, the CTPL and/or CTPL Partner shall be entitled to accept or reject a Customer, for any reason whatsoever, at its sole discretion.
12.8. In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by CTPL, such payments shall be returned to You to the bank account linked to your account. subject to the terms and conditions as may be indicated on the Platform.
13.1. You may be provided an option to sell the Customer Gold after 72 hours from the date of purchase of Gold, during market hours based on the sale prices on the Platform. If the prices acceptable, You shall confirm the sale request, in a form and manner acceptable to CTPL (“Sale Request”). Your CaratLane Digital Gold Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request (“Sold Customer Gold”) raised by You.
13.2. Within a period of 2 (Two) business days of the Sale Request being confirmed or such further period as may be required, the payment, pursuant to the Sale Request, shall be disbursed by CTPL at the sale prices indicated at the time of placing such Sale Request. CTPL shall ensure arrange such payments are made to Your bank account based on the details of the same provided by You. CTPL shall not be responsible for any discrepancies in such bank account details provided by You. 
13.3. It is hereby clarified that this service is provided by CTPL and/or the CTPL Partner on a best efforts basis as and when the commercial bullion market is in operation. CTPL and the CTPL Partner do not guarantee this option being available to You at all times and the buyer of the Sold Customer Gold may be either CTPL or another party (being interested in buying the Sold Customer Gold). The CTPL and/or CTPL Partner’s responsibilities shall solely be limited to ensuring the transfer of funds for Sale of Customer Gold to such Third Party being accurately remitted to Your bank account.
14.1. The Customer shall employ caution to ensure that their mobile wallet details, personal UPI pin or OTP (“Payment Information”) is not shared with any third party intentionally or unintentionally. CTPL/CTPL Partner never solicits Payment Information over a call or otherwise. In the event of any fraudulent actions arising from the sharing of such details of the Customer, CTPL/CTPL Partner/Third Party Services/Payment Gateway partners shall not be liable in any manner whatsoever.
14.2. In the event that an individual’s Payment Information or Payment Instrument is fraudulently utilised to purchase gold on the Platform (“Fraudulent Transaction”) from CTPL, the victim must approach the CTPL via proper channels including CTPL’s customer support number and email (please provide [email protected] or 1800 102 0103 and 044-4293-5000), along with supporting documentation from the relevant public authority or Cyber Cell and the CTPL shall share the relevant information of such transaction.
14.3. Upon CTPL and/or the CTPL Partner having flagged any suspicious transaction or Customer account as per their internal guidelines, or wherein the Customer is found to have utilised Payment Information or a Payment Instrument in an unauthorised or fraudulent manner to purchase CaratLane digital gold or undertake any other transaction on the Platform (Fraudulent User), CTPL and/or the Platform Partner shall be entitled to:
14.3.1. request for verification of such flagged transaction, any further KYC information or other documentation from the User;
14.3.2. block such Fraudulent User, and/or freeze any accounts associated with them pending further verification;
14.3.3. reverse any such Fraudulent Transaction, to the extent possible, including the sale of any Digital Gold Balance purchased by such Fraudulent User, at the prevailing rate;
14.3.4. provide information to the relevant authorities on such Fraudulent User, along with any other transaction details.
14.4. In the event of a Fraudulent Transaction as per Section 16.2, CTPL and/or the CTPL Partner, shall make a reasonable effort to assist the Customer or victim in recovering their funds, subject to supporting evidence and documentation being provided upon request. The CTPL or CTPL Partner shall be entitled to transfer the Customer or victim’s funds, less any payment gateway charges that are not refunded by third party payment service provider or bank.
14.5. However, it is clarified that CTPL and/or the CTPL Partner shall not be obligated to reverse any transaction where the Fraudulent User has already sold the CaratLane digital gold Balance purchased through the Fraudulent Transaction, and received the funds against such sale; or where the Fraudulent User has chosen to take delivery of the CaratLane digital gold balance so purchased. In this event, CTPL shall, to the best of its ability, provide any information on the Fraudulent User, including the bank account or Mobile Wallet account to which funds have been settled, or the physical address to which the caratlane digital gold Balance has been delivered, to the victim or the relevant authorities.
15.1. You acknowledge that the Services are for Your personal use and agree not to publish the CaratLane Digital Gold prices or descriptions of CaratLane Digital Gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium. You shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, reverse engineer, create derivative works from, transfer, or sell any information, software, products or services obtained from the Services.
15.2. Subject to these Terms and the Privacy Policy, You hereby grant to CTPL and the CTPL Partner a non-exclusive, worldwide, royalty-free right to (a) collect, store and transmit Your data, to the extent necessary for provision of Services, and (b) share Your data or interact with other people, to distribute and publicly perform and display Your data as directed or enable by You through the Services. You will provide Your consent to the CTPL and / or CTPL Partner as may be required under applicable law for the use and/or sharing of any data generated by You when purchasing CaratLane Digital Gold or otherwise using the Platform for any services related to the purchasing of CaratLane Digital Gold or for any other purpose as the CTPL may stipulate in this regard. CTPL shall share Your data with the Administrator as required to fulfil their obligations as a Administrator. Your data will continue to be governed by confidentiality obligations outlined in Section 21. 
15.3. You hereby represent and warrant that: (i) You have obtained all necessary rights, releases and permissions to provide all Your data and all other rights as provided herien to the CTPL and CTPL Partner and (ii) Your data and its transfer to and use by the CTPL and CTPL Partner as authorized by You under these Terms do not violate any laws or rights of any third party, including without limitation any intellectual property rights, rights of privacy, or rights of publicity, and any use, collection and disclosure authorized herein is not inconsistent with the terms of any applicable privacy policies. It is hereby clarified that other than its security obligations under these Terms and the Privacy Policy, the CTPL and/or CTPL Partner have no responsibility or liability for Your data and You shall be solely and absolutely liable and responsible for Your data and the consequences of using, disclosing, storing, or transmitting it.
15.4. The CTPL and/or CTPL Partner shall not be held liable for any loss of data, technical or otherwise, information, or for particulars supplied by You, arising from causes beyond its control, like corruption of data or delay or failure to perform as a result of a Force Majeure Event.
15.5. CTPL shall have the sole discretion to determine the locations and pin codes it may want to serve.
15.6. The provision of Services through the Platform may be interrupted, including for maintenance, repairs, upgrades, or network or equipment failures. Although the CTPL and CTPL Partner strives to keep the Services up and running, the CTPL and CTPL Partner are not liable for any disruption or loss You may suffer owing to any disruption or interruption.
15.7. CTPL shall at its sole discretion discontinue some or all of the Services, at any time, with or without notice to You.
15.8. You acknowledge that the Services are for Your personal use and agree that the Platform explicitly disclaims any promise of return / profit on the funds remitted by you, towards acquisition of digital gold.  The Platform is purely only for purchase and sale of gold.

16.1. CTPL may, in Conjunction with the CTPL Partner, and without specific recourse to the customer, suspend Gold Account of Customers, if there appears to be fraudulent or suspicious behaviour in a customer's CaratLane Digital Gold account.. The CTPL and/or CTPL Partner shall have the right to take all actions available to it, including blacklisting or prohibiting You from using the Services on the Platform or prohibiting Your access to the Services through the Platform or notifying the appropriate authorities of such unlawful activities, if the CTPL and/or CTPL Partner are of the opinion that You are engaged in any unlawful activity or the CaratLane Digital Gold Account is used for any unlawful purpose.
16.2. If the agreement between CTPL and the CTPL Partner is terminated or if the CTPL otherwise chooses to sever its relationship with CTPL Partner, your CaratLane Digital Gold Account may be closed. In this situation, you can check your Caratlane Digital Gold balance on www.caratlane.com, and CTPL may continue to offer its services and provide customer support to deliver or sell your CaratLane Digital Gold balance.
16.3. CTPL will not be held accountable or liable in any way for any loss / liability resulting from or connected to any technical malfunction, or with the Platform, and/or any actions or omissions that are not attributable to it.
16.4. Any irregularities or discrepancies that may exist in Your CaratLane Digital Gold Account must be reported immediately, and in any event, within 10 (ten) days of the transaction; otherwise, it will be assumed that there is no error or discrepancy in the account. All records kept by the CTPL and/or CTPL Partner of the Customer's instructions and other information (such as, but not limited to, payments made or received) in accordance with the Terms, whether in electronic or documentary form, shall, as against the Customer, be deemed conclusive evidence of such instructions.
Only those who are eligible to engage into legally binding contracts under the Indian Contract Act, 1872 and those who are residents of India may be eligible to use the Platform and/or Services. Users who are "incompetent to contract" as defined by the Indian Contract Act, 1872, which includes minors, un-discharged insolvents and persons of unsound mind shall be ineligible for use of Platform or Services. No one under the age of 18 may register on the Platform, use the Platform for any Services, or engage in any transactions on the Platform. If it comes to CTPL's attention or if it is determined that a Person is ineligible to use the Platform and/or any Service, CTPL reserves the right to terminate such Person's membership and/or refuse to grant that Person access to the Platform and/or any Services.
18.1. You represent and warrant to the CTPL and CTPL Partner that you have sufficient experience and knowledge to make informed decisions to purchase / sell Gold. You acknowledge that you have not relied on any information made available either by the CTPL or CTPL Partner and that the CTPL or CTPL Partner is not making any recommendation with respect to such purchases / sale-back of Gold. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchisee-franchisor relationship, any joint venture relationship or any partnership relationship, exists between you and the CTPL and/or CTPL Partner.
18.2. You acknowledge that CTPL and the CTPL Partner are not providing / dealing in / offering any investment product and does not offer any guarantee / assured returns. You further acknowledge that value of Gold may vary depending on various factors and forces.
Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of the CTPL or CTPL Partner. As a result, neither the CTPL nor CTPL Partner shall be liable for mistakes, negligence, inability to carry out orders, delays in transmission, delivery, or execution of orders due to malfunction or failure of transmission or communication facilities (including in any device used to connect to the Platform), or to any other cause beyond the control or foreseeability of the CTPL or CTPL Partner.
20.1. In order to enhance the Platform and the user experience, the Platform may permit You, solely at the CTPL's discretion, to share Your reviews and experience of using the Platform ("Reviews").
20.2. You hereby grant the CTPL and/or CTPL Partner a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in a manner as deemed appropriate by the CTPL and/or CTPL Partner, including but not limited to by print, broadcast, online and across any and all websites and platforms owned by the CTPL Partner.
20.3. You further represent and warrant that You shall not use any offensive, libel     ous, derogatory, hateful or racially or ethnically objectionable language while posting any Reviews on the Platform. Further, You shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” as provided in the Indecent Representation of Women (Prohibition) Act, 1986.
As elaborated under the Privacy Policy, the CTPL and CTPL Partner will keep all confidential information confidential, including Your personal information, and shall not disclose it to anyone except with your consent or 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. The CTPL and CTPL Partner accepts that the confidential information may only be used for the stated purposes by its employees, directors, agents, and contractors. The CTPL and CTPL Partner shall use their best efforts to ensure that their employees, directors, agents, and contractors understand and abide by these Terms of this confidentiality, in a manner that they were a party to the same.
22.1. With regard to the Services offered by CTPL and shown on/accessed on the Platform, CTPL wholly and exclusively owns its various copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights, all of which are protected by applicable laws of India.
22.2. You hereby acknowledge that the Services are original works that have been developed, compiled, prepared, revised, selected, and organised by CTPL respectively through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of CTPL and such others.  You thereby agree to protect the proprietary rights of CTPL during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms.
22.3. Any infringement would result in legal action being taken against You in the appropriate forum for seeking available remedies under the country's applicable laws.
The Platform might have links to and interactive features that interact with third party websites. The functioning, actions, inactions, privacy settings, privacy policies, conditions, or content of any such websites are not the responsibility of the CTPL or CTPL Partner, and neither party shall have any liability in connection therewith. CTPL and CTPL Partner      strongly advise that You review and comprehend the terms and conditions, privacy policies, settings, and information-sharing features of each such third-party website before enabling any sharing functions to communicate with any such website or otherwise visiting any such website.
You hereby agree to indemnify and keep the CTPL and CTPL Partner indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) which the CTPL and/or CTPL Partner and/or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) Your usage of the Platform, Services and/or any device used by You to access the Platform; (ii) arising from CTPL’s and/or CTPL Partner’s actions or omissions in good faith or upon Your instructions, and in particular arising directly or indirectly out of Your negligence, mistake or misconduct ; (iii)Your breach or non-compliance of the Terms relating to the Gold Account; and/or (iv) fraud or dishonesty relating to any transaction by You.
You hereby acknowledge that CTPL and/or the CTPL Partner (including but not limited to its, directors, employees, agents or partners) shall not be held liable to You for any special, consequential, incidental, and exemplary or punitive damages, or loss of profit or revenues. CTPL and/or the CTPL Partner shall also not be liable under any circumstances for damages arising out or related in any way to Your inability to access, or Your difficulty in accessing the Platform to avail of any Services, any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of Your data, any claim relating to Your data or content from the Services and/or Your failure to keep the CaratLane Digital Gold Account Information secure and confidential. You further agree that CTPL shall not be held responsible in any manner whatsoever for any and all acts or omissions of the CTPL Partner, any Intermediaries or any other third party whosoever including (but not limited to) any person whose device has been used by You to access the Platform and/or any person appointed/nominated by the CTPL Partner for the purposes of accepting/collecting any payments from You for the purchase of Gold. Likewise, the CTPL Partner shall not be held responsible in any manner whatsoever for any and all acts of any third party, CTPL or other Intermediaries.
27.1. CTPL reserves the right, to change, modify, add or remove portions of these Terms at any time. Such changes shall be posted on the Platform and shall be notified to the Customer prior to making such changes. Notwithstanding anything to the contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform.
27.2. Accessing, browsing or otherwise using the Platform indicates Your agreement to all the terms and conditions under these Terms. You are advised to read these Terms carefully before proceeding. By impliedly or expressly accepting these Terms, You also accept and agree to be bound by all policies, including but not limited to the privacy policy of the CTPL and CTPL Partner (“Privacy Policy”), as amended from time to time. You can view and read the Privacy Policy of the CTPL Partner at the Platform and the Privacy Policy of CTPL at www.caratlane.com.

Vault Address:
B.V.C. Logistics Private Ltd.
Plot no. 35, Sukrut bldg, Tarun Bharat CHS LTD Sahar Rd,
Opp Hotel Oriental Ashter JB Mmgar,
 Andheri East, Mumbai -  400 099

Administrator address:
B. N. Vaidya & Associates
Ground Floor, Vaidya Bhavan
No. 2, Anantwadi, 92 Atmaram Merchant Road, Near Hotel Adarsh Baug
Mumbai – 400002

Nominee: For submitting the Nominee details please reach out to [email protected]