LAST UPDATED 24TH APRIL 2023
We appreciate you taking the time to go through Mools’ Terms & Conditions. Read on to know everything around what we require from you, and what you can expect from us
(A) Introduction
Mool Capital Private Limited ("Mool"/ "We") is a website and mobile application based facilitator and distributor of financial products and services.
We endeavour to make financial products and services accessible especially to the retail customer segment through ease and low cost of registration and use. Mool facilitates and distributes the following products and services as an intermediary:
- Peer to Peer Lending Products
-Investment in Mutual Funds
- Buying Insurance Policies (Health, Life and General)
-Refinancing and Credit related products
We do not make any representations to be a Bank as defined under the Banking Regulation Act, 1949.
(B) Definitions
"Services" means and includes financial products and services offered by Mool through our website and mobile application.
"Platform" means our website at www.mool.one and our mobile application that offers the Services.
"User"/ "You" means an individual who accesses and uses our platform to explore, inquire, evaluate or avail our services.
(C) Agreement
The Terms and Conditions and Privacy Policy contained herein govern the legal relationship between Mool and the User and define their respective rights and obligations.
When you access and use our Platform as a User, you’re agreeing to be bound by these Terms and Conditions and Privacy Policy. Therefore, please take the time to read the following terms and conditions, which have been codified in an accessible manner for your ease of understanding.
(D) Your Representations & Warranties
You represent and warrant that you are 18 years or older and a tax-paying citizen of India.
You represent and warrant to us that the information you provide to us for your account registration on our Platform will be true, accurate, current and complete.
(E) Your Access
In order to avail our Services, you will have to register with us by creating an account ("User Account").
You are responsible for safeguarding your password and other User Account information. You will keep your User Account information confidential. You will not share your account with anyone else. You shall be responsible to maintain confidentiality of your account on Mool’s web/ mobile applications including your log-in credentials & OTPs. In event, if Your device is lost or stolen, you shall be responsible to immediately undertake all necessary measures to secure your Mool Platform account i.e., by blocking your SIM, logging out your active session etc.
As a User, you agree that you shall be solely responsible for any activities or actions under your User Account, whether or not you have authorized such activities or actions.
Mool has physical, electronic, and procedural safeguards that comply with applicable laws to guard and protect Users' non-public personal information (see Privacy Policy).
You agree that, You shall also inform to the Company, on immediate basis, by writing at care@mool.one and furnishing all relevant information to establish Your claim. This would enable Company to block your Mool Platform account. Company will use commercially reasonable efforts to block / suspend your Mool Platform account, however, You understand that Company is merely facilitating you to secure your account on good-faith basis and as such Company assumes no responsibility or liability towards any losses, frauds, unauthorized transactions that may happen or you may suffer under your Mool Platform account.
(F) TERMS RELATED TO KYC
You agree that you will be allowed to make any transaction through the Mool applications when you complete the know your client (“KYC”) process and provide the complete information including personal information in accordance with the KYC guidelines as issued by SEBI and/or IRDAI and/or any other regulatory body, government authorities, competent authority from time to time.
For availing various services provided on Mool’s platforms/ applications, You hereby grant your consent and permit Mool to share your KYC information with its Group Entities, and/or with Third Party Service Providers offering your various products and services, to enable them to promptly respond to your queries / interests. The collection, processing, storage, and sharing of Your information is further governed by Company’s Privacy Policy.
In pursuant to your expression of interest for any and all products facilitated or distributed on Mool’s applications, Mool will facilitate verification via CKYC (Central Know Your Customer).
As the User, You hereby also give consent to Mool/ its partners to fetch/retrieve your KYC records online from the Central KYC registry (CKYCR) for the purpose of opening your investment account and / or accessing different investment products on the Mool’s mobile/ web based applications.
You also authorize Mool/ its partners to obtain additional identification documents or details and carry out additional check in case,
i. There is a change in the information of the customer as existing in the records of CKYCR;
ii. The current address of the customer is required to be verified;
iii. It is considered necessary to verify your identity or address, or to perform enhanced due diligence or to build an appropriate risk profile for you/ on your behalf.
You hereby consent to receiving information from Central KYC Registry through SMS/Email on the above registered number/email address.
Please note as the User:
i. Your CKYC Details are fetched basis user’s / your consent on our app/platform.
ii. The details fetched are purely based on CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) and Mool does not alter any of the data.
iii. The User is solely responsible for the authenticity of the data shared with the Mool App/Platform
iv. Any updation in the CKYC data has to be done in CERSAI records.
(G) TERMS RELATED TO CONSENT PROVIDED TO FETCH CREDIT DATA
As the User, you hereby grant your explicit consent to fetch Your credit data from Credit Information Companies such as CRIF High Mark and/or Experian and disclose Your credit score to the Company. You permit to Mool, to use your credit score to determine your eligibility for access to and/or for offering of various services in tie-up with Third Party Service Providers or other value-added services for improving your credit score. You also permit Mool to show you your credit score on its applications as an additional benefit for you.
(H) TERMS RELATED TO SERVICES PROVIDED
Please also note that there are other financial products and services, such as Stocks, loans, fixed deposit creation, insurance, savings bank account, peer to peer lending etc. manufactured and/or distributed by third party service providers, offered by or through the Mool Platform now or in the future. However, it is hereby expressly clarified that any or all interaction, communication, dealing, or transaction between you and such Third Party Service Provider(s) in respect of availing of any products/services offered by said Third Party Service Provider(s) forms a separate and independent transaction between the you and such Third Party Service Provider(s) without any liability accruing to or on Company for any matters arising out of or in relation to Third Party Service Provider(s) (including their products / services) act, conduct, omission, negligence, default, breach of confidentiality, breach of applicable laws, discharge of obligations etc..
You hereby agree and acknowledge that all Your decisions, notwithstanding the services rendered by Company, in relation to buy, sell, hold or otherwise deal in the investment securities shall be based on Your own independent evaluation of the risks and rewards of the investments and on Your own verification of all the relevant facts, including financial and other circumstances and a proper evaluation thereof.
Neither Company nor any of our directors, employees or agents shall be liable for any advice or representation made by it/him/her hereinunder and it will be Your responsibility to make an independent assessment pursuant to the availing/using of the Mool Platform/Services or availing any product or services from the Third-Party Service Provider(s).
You acknowledge and agree that Company do not guarantee that availing of the services from the Mool Platform will result in profits or avoid losses or meet the objectives, including Your investment objectives, or that availing / using of the services / Mool Platform will not at any time be affected by adverse tax consequences, technical failures, timely regulatory compliance to a new law. Company shall not be liable to You for any error of judgement or loss suffered by You in connection with the services provided to you.
Company does not disburse loans on its own, but merely enables You to compare the best possible options and apply for loans to various banks and NBFCs (Non-Banking Financial Corporation) in the Indian market. You understand and acknowledge that the loan rates may vary from bank to bank and is dependent on your credit profile and the loan/policies/scheme you decide to opt for. Company has nothing to do with the rates offered by Banks/NBFCs.
You agree and understand that by availing the Services You shall be bound by our Privacy Policy and your information provided on the Mool Platform shall be shared with our Group Companies and business partners.
(I) Your Use (Rules of Conduct)
Mool grants you a limited, non-exclusive, non-sublicensable license to use the Platform provided you comply with the following conditions:
You shall comply with applicable laws including but not limited to Privacy laws, Intellectual Property laws, Tax laws, Anti-Money Laundering laws.
You shall use the Platform solely for your personal, non-commercial use. You shall not commercially exploit the Platform.
You shall not commit acts that infringe upon the intellectual property rights and privacy rights of Mool, other Users or Third Parties (including but not limited to copyright, trademark, patent and trade secrets), which includes the following:
- You shall not adapt, alter, copy, create derivative works from, disassemble, display, distribute, download, duplicate, frame, mirror, modify, reduce to human readable form, republish, reverse compile, reverse engineer or transmit any portion of the Platform.3.2.You shall not build a product, service or platform which competes with the Platform.
You will not violate Mool’s security features which includes the following:
- You shall not attempt to gain unauthorized access or use Mool’s data, services, systems or networks, including any attempt to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without express authorisation of the owner of the system or network.
-You shall not transmit any viruses, worms, trojans, malicious code or similar harmful materials.
-You shall not interfere with service to any user, host or network, including mail bombing, flooding, deliberate attempts to overload a system and broadcast attacks.
-You shall not collect information by deceit, including Internet scamming, password robbery, phishing, security hole scanning and port scanning.
(J) Fees
The usage of the Mool Platform is entirely free however the Company have the right to charge its Users a fee for availing advisory services and/or other fees, as applicable for any specific product / services been offered on Mool Platform.
The applicable fees will be made available at the time of registration and/or on its applicability and/or under the relevant product / services section. Company may change fee structure as it determines in its sole discretion from time to time and notice regarding the same shall be intimated to you adequately in advance prior to such change in fee structure. All charges and fees shall be exclusive of taxes and all Government taxes including but not limited to GST shall be payable by you. Please note the charges / fees applicable shall be non-transferable, nonrefundable and non-cancellable in nature.
Mool reserves the right to determine the amount of Fees to be levied. The Fees is subject to modification and any such modification will be communicated to the User by email and/or SMS.
The User agrees to pay the Fees in order to avail the Services.
(K). Rewards
Mool will conduct Rewards programs for Users from time to time, which includes competitions, discounts, cashbacks, and third-party offers.
Mool will prescribe separate Terms and Conditions for participating in such Rewards program (“Rewards T&C”).
In order to participate the User must consent to the Rewards T&C, in addition to the general Terms and Conditions contained herein.
The Rewards T&C will be displayed on our Platform.
(L) Third Party Relations
The Platform contains links to Third Party websites and mobile applications that share content and information and offer products and services in relation to the Services or otherwise ("Third Parties' Content and Services").
Such Third Parties publish their own Terms and Conditions and Privacy Policy and other related agreements and policies ("Third Parties' Terms").
Your access and use of the Platform where it integrates and intersects with such Third Parties’ Content and Services will be subject to the Third Parties’ Terms. Therefore, you are required to read those Third Parties’ Terms as well since they will be legally binding on you.
We do not make any representations in respect of the Third Parties’ Contents and Services and your access and use of the same will be entirely at your own risk and costs. Mool shall not be held liable for actions and breaches by such Third Parties.
The Company has engaged Third Party Service Providers for payment gateway services, account aggregator services etc. The engagement of these Third-Party Service Providers is to facilitate users to conduct transactions seamlessly and securely on Mool Platform/ Applications. However, Company assumes no responsibility or liability in any manner whatsoever, for any delayed or non-processing of transactions. You understand that Company and/or partnered financial institutes shall be well within its rights to not to act and/or suspend the services if the transaction is not successful or delayed credit of transactions takes place. You understand and accept the risk associated with processing of online transactions and agrees that Company shall not in any manner whatsoever be responsible to You for any losses, cost, interest, penalties, levies, charges or such amount that may be recoverable from you due to delay in or non-processing of transaction is levied. It is advised that, You should diligently keep track of all your payments are done in timely and successful manner.
Mool Platform offers services to its users which includes, without limitation to transactions in securities, or financial products, and/or advice on investment portfolio containing securities or investment products as well as insurance products.
(M) Alerts, Notifications & Service Communications
When you register with us by creating a User Account on Mool’s applications, You agree to be contacted by Mool (including its employees, representatives, officers, partners etc.), Third Party Service Providers over phone and/or e-mail and/or SMS/and or push notifications or any other form of electronic communication in connection with your registration, advisory and transactions. This consent overrides any registration for DNC/NDNC. You agree and confirm that if your mobile number is registered in the Do Not Disturb (DND) list of TRAI, you may not receive SMS from Mool. You agree to take steps to deregister from the DND list and shall not hold Mool liable for non-receipt of SMS. You can always opt to stop receiving any or all such communications by writing to care@mool.one . You can also delete Your account at any point of time by writing to care@mool.one or by visiting the delete account section on the Mool Platform.
Mool will make best efforts to provide alerts via SMS/ e-mail/ WhatsApp/ push notifications and it shall be deemed that You shall have received the information sent from Company as an alert on the mobile phone number or e-mail id furnished by You on Mool Applications or availing any Mool Application Services. You hereby unequivocally grant Company the right and authority to use your contact details as furnished by You at the time of registering on Mool Platform as your primary, valid and default communication address for any and all Mool Platform Services. Company shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. You cannot hold Company liable for non-availability of the SMS/email alert/push notifications service in any manner whatsoever.
You further understand that the SMS/e-mail alert/ WhatsApp/ push notification service provided by Company is an additional facility provided for Your convenience and that it may be susceptible to error, omission and/or inaccuracy. In the event, You observe any error in the information provided in the alert, You shall immediately inform Company about the same by and We will make best possible efforts to rectify the error at the earliest feasible. You shall not hold us liable for any loss, damages, claim, expense including legal cost that may be incurred/suffered by You on account of the SMS/e-mail alert/push notification facility.
You understand that the Company will be relying on Third Party Service Provider(s) to enable SMS/e-mail alert/WhatsApp/push notifications/OTP. The readability, accuracy, timely delivery is / are subject to multiple factors including the infrastructure and connectivity at Third Party Service Provider(s) end. Company makes no representation, or assurance of timely or delayed delivery. Company shall not be liable or responsible for any non-delivery, delayed delivery, skewed message, or alerts.
(N) Termination
We reserve the right in its sole discretion to delete, block, restrict, disable, suspend your account or part thereof. If User is found engaging in any fraudulent / illegal activities including but not limited to the following activities i.e., abusing any of the representatives of the organization, indulge in fraudulent activities on the Mool Platform, using mass media and/or bots to engage with the platform, using mass media and/or bots to malign the organisation’s reputation these activities may be referred to appropriate legal authority for a legal recourse, violation of these terms and conditions.
Your obligations to Mool under these Terms and Conditions, including but not limited to ownership, indemnification and limitation of liability, will survive the suspension or termination of your User Account.
We reserve the right to investigate suspected violations of these Terms and Conditions and take corrective actions we deem appropriate. We may seek to gather information from a User who is suspected of violating these Terms or from any other User and you agree to provide us with such information. We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone believed to be violating these Terms and Conditions.
(O) International Use
Mool is only available for use in India. We make no representation that Mool is appropriate or available for use outside India. Similarly, we make no representations that accessing Mool from locations outside India is legal or permissible by local law. If you access Mool from areas outside India, you do so at your own risk and are yourself responsible for compliance with local laws.
(P) Disclaimer & Limit of Liability
You understand and acknowledge that the results you could obtain from facilitation and distribution services provided by Mool cannot be guaranteed and that Mool cannot be held responsible. All financial products and services entail a risk of loss and that you may lose money.
You agree and understand that your use of Mool is for educational purposes only and is not intended to provide legal, tax or financial planning advice. You agree as a User that you are responsible for your own research and decisions, that Mool is only one of many tools you may use as part of a comprehensive financial access and investment education process, that you should not and will not rely on Mool as the primary basis of your decisions and, except as otherwise provided for herein, Mool will not be liable for decisions/actions you take or authorize third parties to take on your behalf based on information you receive as a User of Mool or information you otherwise see on our website/application.
(Q) Disclaimer of Warranties
THE SERVICES ON THE PLATFORM ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. Mool MAKES NO WARRANTIES AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED OR STATUTORY, RELATING TO THE SERVICES AND THE PLATFORM, INCLUDING BUT NOT LIMITED TO, THE WARRANTIES OF QUALITY, PERFORMANCE AND UTILITY, SECURITY, TECHNICAL DISRUPTION, ACTIONS OR BREACHES OF THIRD PARTIES, FORCE MAJEURE EVENTS, STATUTORY AND REGULATORY CHANGES, TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF PROPRIETARY RIGHTS, COURSE OF DEALING OR PERFORMANCE.
(R) Limitation of Liabilities
IN NO EVENT SHALL Mool OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING BUT NOT LIMITED TO INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR ACCESS AND USE OF THE PLATFORM, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT Mool HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL Mool’S CUMULATIVE LIABILITY TO YOU EXCEED THE FEES COLLECTED FROM YOU DURING THE THREE MONTH PERIOD IMMEDIATELY PRECEDING THE DATE OF THE CLAIM.
(S) Indemnification
You agree to indemnify and hold harmless Mool and its officers, directors, employees or agents from any and all third-party claims and actions arising out of your breach of these Terms and Conditions.
(T) Assignment
You may not assign this Agreement (by operation of law or otherwise) of Mool, and any prohibited assignment will be null and void.
Mool may assign these Terms and Conditions without your consent.
(U) Communication - Notices, Feedbacks, Complains, Queries
Any communication in respect of serving a formal notice or raising a complaint or providing feedback or raising queries shall be sent:
- By Mool in writing to the email address or phone number that you have provided and,
- By the User in writing to the following email address legal@mool.one or to such other addresses as Mool may specify in writing. The date of receipt shall be deemed the date on which such notice is successfully transmitted and received.
- You can also contact us at hello@mool.one or care@mool.one for any other queries.
(V) Modifications
We reserve the right to revise and modify this Agreement by posting amended clauses of these Terms and Conditions and without providing notice. If you do not agree with these modifications, you shall stop accessing and using our Platform.
You can determine when these Terms were last revised by referring to ‘LAST UPDATED’ at the top of these Terms.
By using the services provided through Mool’s Platform/ Applications, You shall be deemed to have accepted the Terms herein including the amended Terms published on the Mool Platform from time to time. Your continued use of the Mool Platform following the posting of changes means that you accept and agree to the changes.
(W) Dispute Resolution
The provisions of these Terms and Conditions shall, in all respects, be governed by, and construed in accordance with, the laws of India. The Courts at Delhi shall have exclusive jurisdiction to adjudicate upon and settle any claim or matter arising under these Terms and Conditions
