Cancellation and Refund Policy

VAISHALI SECURITIES LIMITED having registered office at 815, Star Chamber, Harihar Chowk, Rajkot Gujarat 360001 as the RBI registered NBFC (hereinafter be referred to as "Company" or "us" or "we") is the lending partner of the mobile application by the name of Kredeaze("App") and website (https://www.kredeaze.com/) (App and Website are hereinafter together referred to as the "Platform").

1. Cancellation

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While granting loans every attempt is made to do proper assessment and scrutiny on case to case basis. However the Company has all rights to cancel the sanction letter if it is found that the applicant has provided incorrect/ false information and or submitted faulty/ fake/ improper documents to mislead the company. The cancellation will be done, at any time before or after the disbursement (full or partial) of the loan amount. The company reserves the right to recall the entire amount disbursed along with interest and penalties which the company may deem fit and the entire amount will be payable to the company in one single installment immediately on demand. The company will have every right to take any legal/ criminal action against a person/ entity who has tried to avail any loan facility through such misrepresentation/ fraud.

The Company will have a right to cancel the sanction and to recall the entire loan disbursed along with interest and penalties at the Company’s discretion if it has found that the end use of the loan is not confirmed by the borrower/ or the loan amount has been utilized for a purpose not intended for as per the loan application form. In such case if the due amount as stated is not paid in one single installment the company will be free to proceed against the borrower for any legal/ criminal action as stated above.

The company will not be responsible for any fault/ defect in an asset purchased from the loan amount sanctioned & disbursed by it. Borrower will have to verify the quality and working condition of the asset so acquired. If the borrower makes a default in repayment of the loan due to such reasons and also on account of dispute with the dealer due to the defective article /asset acquired, the company will recall the entire loan which will be entirely repayable with interest and penalties as stated above.

If the borrower fails to complete the formalities/ submission of documents stipulated by the terms of sanction within a period of 1-4 weeks or within the prescribed period as agreed, the company will have every right to cancel the sanction letter.

The company will have every right to amend the terms of sanction/ to reduce the amount/ period/ interest rate as per sanction at any time before or after the disbursement of the loan. The borrower will have no recourse against this decision of the company. However the company has every right to cancel the sanction letter and recall the entire loan without assigning any reason whatsoever.

At the end of the repayment period the entire outstanding balance will become due and payable on the due date. Extension of repayment will be granted only in extra-ordinary circumstances i.e. Natural Calamity/ Natural Disaster etc.

2. Refund

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If an excess amount is deposited in the loan account at the end of the repayment period and there is any credit balance in the loan account of the borrower it will be refunded back on being brought to the notice of the company.

The company will not be responsible in the event of any failed transaction of crediting loan installment through debit card due to any reasons whatsoever.

If any repayment installment is wrongly credited to different account other than the one intended for it will appropriated to the relevant account after it is brought to the notice of the company. The company will not be responsible for any such instances and the consequent loss to the borrower whatsoever. In the event of any such wrong credit through debit card, the relevant entry will be appropriated within seven working days from the date it is brought to the notice of the company.

If any extra installment is deposited by the borrower in his loan account, it can be reverted back at the specific request of the borrower. The company will not be responsible for any such additional credits. In the event of any duplicate credit transactions through debit cards it will be reverted back within a period of seven working days from the date it was brought to the notice of the company.

In case of loans granted against own deposits, the company will have every right to liquidate the deposit kept as security and to get back the amount of loan outstanding along with appropriate interest even before maturity of the said deposit. The company will have a right of general Lien in all such cases.

The company has every right to encash/ liquidate/ sale any security charged to it against any loan granted, to get its dues recovered along with appropriate interest.

The company reserves all rights to change/ amend/ add/ cancel any/ all of the above rules at any time at its sole discretion without any prior notice whatsoever.