This document establishes the Terms and Conditions applicable to all account opening applications processed using the Video based Customer Identification Process (V-CIP) service provided by Si Creva Capital Services Private Limited ("Si Creva" or "Company").
Before using this service, customers are required to carefully read and understand these Terms and Conditions. Usage of this service by the customer shall be construed as deemed acceptance of these Terms and Conditions.
Customers are also bound by the specific Terms and Conditions relating to any account or any of the products offered by Si Creva and availed of by the customer. Customers agree to abide by these Terms and Conditions as amended by Si Creva from time to time, which shall be in addition to and not in derogation of the product specific Terms and Conditions unless otherwise specifically stated, without the requirement of providing a notice.
The following words and phrases have the meanings set below unless the context indicates otherwise:
A company incorporated in India under the provisions of Companies Act 2013 bearing CIN U65923MH2015PTC266425, being a Non-Deposit taking Non-Banking Financial Company, bearing Registration no. N-13.02129 and having its Registered Office at 10th Floor, Tower 4, Equinox Park, LBS Marg, Kurla West, Mumbai, Maharashtra 400070.
The Application Form submitted by the Customer for account opening proposition offered by Si Creva Capital Services Private Limited.
Refers to a prospective customer of Si Creva which is willing to borrow the products offered by Si Creva or an existing customer of Si Creva.
Means Name, Address, Photograph, Date of Birth, Gender, Mobile Number, Email ID, PAN, Last 4 digits of Aadhaar No. and all other details which are submitted by the Customer as part of availing the VCIP services.
Video Customer Identification Process (VCIP) is a method of customer identification by an official of Si Creva by undertaking seamless, secure, real-time, consent based audio-visual interaction with customer to obtain identification and customer information including documents and details for customer due diligence purpose and to ascertain the veracity of the information furnished by the customer.
The V-CIP process will be used to:
Si Creva may use the following methods to establish customer information:
If any mandatory questions are incorrectly answered, or if any of the information provided is found unsatisfactory, inaccurate, or suspicious, Si Creva shall have the right to reject such application at its own sole discretion.
Si Creva reserves the right to implement and/or amend the V-CIP process as permitted by Reserve Bank of India from time to time.
Subject to these Terms and Conditions, Si Creva shall provide V-CIP services from time to time to enable Customers to be onboarded by completion of their KYC formalities through V-CIP.
To access the VCIP for the first time, the Customer is required to:
By registering to use the VCIP, the Customer warrants that all customer information provided by the Customer to Si Creva in relation to the VCIP is true, complete and up to date. Si Creva shall not be required to independently verify the same.
The VCIP services are for the sole and exclusive use by the Customer.
The Customer undertakes to provide the customer information to Si Creva and authorizes Si Creva to collect and store customer's all demographic details (including email id and mobile number) available through Aadhaar Paperless offline e-KYC data (Aadhaar XML) uploaded by the customer on the VCIP portal.
In line with the RBI regulations, Customer further irrevocably and unconditionally authorizes Si Creva to:
The Customer shall provide such Information as Si Creva may from time to time reasonably request for the purposes of providing the Services. The Customer shall at all times ensure that:
The Customer shall provide a declaration to the effect that no other account has been opened nor will be opened using OTP based KYC in non-face-to-face mode with any other Regulated Entity, and for other matters (if any) as required per the extant RBI guidelines.
The Customer understands that all field(s) in the Online Application Form are mandatory (except where specified otherwise) and undertakes that if any field is left blank, or is filled with incorrect or incomplete data, the Online Application Form shall be considered as incomplete and may be rejected by Si Creva.
The Customer undertakes, agrees and confirms that any and all information/details/data/documents etc. provided by him/her (including PAN details/Form 60, etc.) shall be accurate, up to date, genuine, true and correct in every manner whatsoever.
Si Creva will take reasonable care to ensure that customer information which is stored or transmitted using the Services remains confidential and is not disclosed to any third parties outside the Si Creva without the Customer's written permission.
However, the Customer authorizes Si Creva to disclose or share Information relating to him or his accounts (as the case may be):
The Customer and Si Creva shall comply with all applicable data protection laws.
The Customer confirms that all persons whose personal or other data is transmitted, processed or otherwise handled, have consented to such transmission, processing or other handling under these Terms in accordance with these laws, or will do so prior to any such transmission, processing or other handling.
The Customer further agrees to indemnify and hold Si Creva harmless from all costs, penalties, damages and other losses incurred as the result of any breach of this provision.
The Customer shall not, and shall not attempt to:
The Services or any marketing/promotional messages displayed as part of the Services should not be regarded as an offer or solicitation to sell investments or make deposits or solicitation to subscribe to any other product or service, to any person residing in a jurisdiction outside India, where it is unlawful to make such an invitation or solicitation.
The Customer shall indemnify and hold Si Creva harmless from and against any/all consequences arising from the Customer not complying with the provisions of any applicable laws, rules or regulations.
Unless expressly permitted by these Terms, the Customer shall not attempt to:
The restrictions on disclosure shall not apply to any Confidential Information:
The Customer agrees that all right, title and interest in and relating to the Confidential Information and any and all related copyright, patent, trademark, service mark, proprietary property, trade secrets and exclusive works are and shall remain the exclusive property of Si Creva and the respective Information Providers.
No right, title or interest other than the right to access the Information and the Reports subject to these Terms and Condition is conveyed or transferred to the Customer. The Customer shall not make any representation or do any act which may be taken to indicate that the Customer has any such right, title or interest.
Si Creva will take reasonably practicable steps to ensure that its systems in connection with the services are installed with adequate security designs and to control and manage the risks in operating the systems, taking into account any law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to it from time to time.
Neither Si Creva, nor any member of the Si Creva Group warrants or represents that the Services are free from virus or other destructive features which may adversely affect the Customer's hardware, software or equipment.
Si Creva may suspend any service provided to the Customer under the Services without notice where it considers it necessary or advisable to do so, for example to protect the Customer when there is a suspected breach of security or Si Creva needs to suspend the Services for maintenance or other reasons.
Due to the nature of the Services, Si Creva does not warrant that access to the services shall be uninterrupted, timely, or error free. Si Creva will use reasonable efforts to inform the Customer without undue delay through the services, and/or its Website if any of the Services is not available.
Unless due to the gross negligence or willful default of Si Creva or their respective officers or employees, and only to the extent of direct and reasonably foreseeable loss and damage (if any) arising directly and solely there from or the amount of the relevant transaction (whichever is less), neither Si Creva nor any member of the Si Creva assumes any liability or responsibility to the Customer or any other person for the consequences arising from or in connection with:
In no event shall Si Creva, any member of the Si Creva Group be liable to the Customer or any other person for any incidental, indirect, special, consequential or exemplary damages including, without limitation, any loss of use, revenue, profits or savings.
A successful completion of video KYC doesn't imply approval for sanctioning of loans. All necessary due diligence and checks will be performed before the corporate entity account is opened.
The Customer shall be fully liable and responsible for all consequences arising from or in connection with use of the VCIP services and/or access to any Customer Information or report or any other Customer Information as a result of such use by the Customer or any other person whether or not authorized.
The Customer shall indemnify Si Creva, any member of Si Creva group and their respective officers and employees against all liabilities, claims, demand, losses, damages, costs, charges and expenses of any kind (including, without limitation, legal fees on a full indemnity basis) which may be incurred by any of them and all actions or proceedings which may be brought by or against any of them on account of any incorrect information provided by the customer and Si Creva acting/relying on the said information.
Further, the Customer agrees, at his/her own expense, to indemnify, defend and hold harmless Si Creva, its directors and employees, representatives, agents, and its affiliates against any claim, suit, action or other proceeding brought against Si Creva, its directors and employees, representatives, agents, and affiliates by a third party, to the extent that such claim, suit, action of other proceeding brought against Si Creva, its directors and employees, representatives, agents, and Affiliates is based on or arises in connection with the usage of services with reference to:
The Customer agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.
If a provision of these Terms is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect. If any unlawful and/or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect.
Any failure or delay by Si Creva to enforce or exercise any provision of these Terms, or any related right, shall not constitute a waiver by Si Creva of that provision or right.
The exercise of one or more of Si Creva's rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to Si Creva under these Terms or in law or at equity. Any waiver of any provision shall only be effective if made in writing and executed by a duly authorized officer of Si Creva.
"Force Majeure Event" shall mean if performance of Services/Website by Si Creva is prevented, restricted, delayed or interfered with by reason of:
Then Si Creva shall be excused and discharged from such performance to the extent of and during the period of such force majeure event, and such non-performance shall, in no manner whosoever, amount to a breach by Si Creva of its obligations herein or incur any legal liability on Si Creva.
Si Creva Capital Services Private Limited