Cancellation And Refund Policy

For the purposes of this Policy, unless the context otherwise requires:

• Block means the process by which a specified amount is lien-marked or earmarked in the Client’s bank account and remains unavailable for withdrawal or use until release or debit, as applicable.
• Client means any user who initiates a payment or transaction through the platform.
• EOD (End of Day) means the close of banking operations on a given business day, as determined by the relevant bank or clearing institution.
• Settlement means the process of final transfer of funds and/or securities in accordance with exchange and clearing corporation timelines.
• Transaction means any order, application, investment, service request, or subscription for which a payment is initiated through the platform.
• Exchange includes recognized stock exchanges, clearing corporations, and any intermediary involved in order execution or settlement.

This Policy governs cancellation and refund rights for payments made through the platform and applies to transactions undertaken for:

• Equity and other securities trading
• IPO applications
• Mutual fund investments
• Services and subscriptions

Cancellation rights vary based on the purpose of payment and the payment mechanism used.

3.1 General Rule

Where a payment is collected through a Block mechanism, the Transaction shall be non-cancellable once the block request is successfully initiated.

The Client acknowledges and agrees that:

• The blocked amount remains reserved in the Client’s bank account until EOD or Settlement, as applicable.
• No cancellation, revocation, or modification request shall be permitted after block creation.

4.1 Stock Market Transactions

• Payments for stock transactions are collected via a Block mechanism.
• Cancellation is not permitted once the block is created, irrespective of the order status (including pending,
  placed, executed, or partially executed).
• If an order is not placed or is rejected, the blocked amount shall be automatically released at EOD, subject to
  banking timelines.

4.2 IPO Applications

• IPO payments are collected through a Block mechanism in accordance with applicable regulatory requirements.
• Cancellation is not permitted once the IPO application is submitted and the block is created.
• Unutilized blocked amounts shall be released automatically in cases of non-allotment or partial allotment, as per standard IPO processes.

4.3 Mutual Fund Investments

• Where a Block mechanism is used, cancellation is not permitted after block creation.
• Any release or debit of funds shall be governed by the acceptance or rejection of the transaction by the
  respective fund house and applicable settlement cycles.

4.4 Services

• Payments made for services are non-cancellable and non-refundable, unless expressly stated otherwise in the
  applicable service terms or required under law.

4.5 Subscriptions

• Subscription cancellations shall take effect from the next billing cycle.
• No refunds shall be issued for the current or partially used billing period, unless mandated by applicable law.

• The platform does not process refunds for transactions involving a Block mechanism.
• Release of blocked funds, where applicable, is carried out automatically by the bank or clearing institution.
• The platform shall not be liable for delays arising from banking systems, exchanges, or clearing corporations.

All transactions, blocks, releases, debits, and settlements are subject to:

• SEBI regulations
• Exchange and clearing corporation by-laws
• Banking and payment system rules

In the event of any conflict, applicable regulatory provisions shall prevail.

By initiating a Transaction, the Client expressly:

• Consents to the creation of a Block, where applicable
• Acknowledges the non-cancellable nature of such Transactions
• Agrees to be bound by this Policy