X2A Soft Labs Private Limited (hereinafter referred to as “wealth42” or “We” or “Us” or “Our”) is a company registered with the Association of Mutual Funds of India as Mutual Fund Distributor vide ARN no. 189592 dated November 08, 2021, having its registered office at 3rd-floor #64, 80 Feet Road, R.M.V 2 nd Stage, Bengaluru, Karnataka-560094 India.
The words, “him’, “his”, “You”, “Your”, “Client”, “User’, ”Visitor” and “Customer” refer to the person(s) who use and avail the Services and Products of wealth42 and shall include both singular and plural.
In terms of the Information Technology Act, 2000, this document is an electronic record generated by a computer system and does not require any physical or digital signature. Your acceptance of the terms and conditions shall be considered as your consent to use the App, the Website, the services, and products (collectively referred to herein as “Services”) provided by wealth42 in accordance with the terms and conditions laid down by wealth42.
Please read on to learn the rules and restrictions that govern your use of our Application/Services. These Terms and Conditions (the “Terms” or the “Agreement”) are a binding contract between you and wealth42. If you have any questions, comments, or concerns regarding these terms or the Services, please contact us at care@wealth42.com.
We've updated our Terms & Conditions to provide you with complete transparency into what is being set when you visit our site and how it's being used. By using our app, registering an account, or making a purchase, you are in agreement with and bound to these Terms & Conditions. These terms apply to the entire website and any email or other type of communication between you and wealth42. If you do not agree to these Terms & Conditions, please do not use the wealth42 Service.
1. Usage
1.1. wealth42 provides you with a financial tracking, execution, and management tool powered by proprietary software. We help maintain Users’ financial portfolios and curate personalised strategies. The financial planning would be flexible, in order to evolve as per the Users’ preferences and needs.
1.2. Services provided by the Company (“Services”) would include financial planning services regarding investing, purchasing, selling and otherwise dealing of mutual funds, loans, fixed deposits, etc. Services also include personal financial planning sessions, execution of transactions and other features as and when included on the Platform. These services may enable the Investment Professionals who partner with the Company to provide sound financial advice depending on their respective practices.
1.3. The Company, Users, Visitors, Vendors, Intermediaries and any other third-parties are bound by Securities and Exchange Board of India Act, 1992, Reserve Bank of India Act, 1934 and Information Technology Act, 2000 and all associated rules, regulations, notifications, circulars and past and future amendments along with any other laws that would be applicable, and should ensure that their conduct is in accordance with the same.
1.4. The Company grants you a revocable, non-exclusive, non-transferable, limited licence to download, install and use the app strictly in accordance with the terms of this Agreement.
1.5 If you violate any of these Terms & Conditions, we reserve the right to cancel your account or block access to your account without notice.
2. Definitions
Following terms shall have the meaning ascribed to them in this section. The definitions provided herein shall extend to all legal documents including but not limited to the Privacy Policy and for all practical purposes when used in relation to services being provided.
2.1. Company - wealth42, (also referred in these Terms & Conditions as "wealth42 ", "us", "we" or "our") which is a duly incorporated company under the Companies Act 2013, having its registered office in Bangalore, Karnataka, India.
2.2. Force Majeure Events- Any event beyond the reasonable control of the Company including but not limited to unavailability of communication system, digital breach, virus in the digital processes or payment/delivery mechanism, acts of government, lockdown, insurrection, computer hacking, unauthorised access to computer data and/or storage devices, computer crashes, malfunctioning in the computer terminal or the system defecting due to malicious, destructive or corruptive code of program, mechanical or technical failures, power shutdowns, faults/failures in telecommunication, etc. It shall also include inter alia events such as sabotage, fire, flood, explosion, Acts of God, civil commotion, strikes, riots , insurrections, wars etc.
2.3. Intellectual Property Rights- In respect of the Platform, refer to all or any rights of the following types, which may exist or be created under the laws of any jurisdiction:
(i) patents, patent applications, patent disclosures and inventions;
(ii) trademarks, brand name, service marks, trade dress, trade names, logos, corporate names, internet domain names, eligible layout right, chip topography right and registrations and applications for the registration thereof together with all of the goodwill associated therewith;
(iii) copyrights and copyrightable material (including computer programs) and registrations and applications thereof;
(iv) trade secrets, know-how and other confidential information;
(v) waivable or assignable rights of publicity, waivable or assignable moral rights;
(vi) registered design or other design right; and
(vii) all other forms of intellectual property, such as data and databases, including all applications, renewals, extensions and revivals of, and all rights to apply for, any of the foregoing rights and confidential trade secrets related to research, development, design, manufacturing, running, maintenance or repair of the Platform, such rights being either directly or by way of licenses, permissions, approvals or agreements in such intellectual property rights granted by third parties.
2.4. Investment Professionals: Investment Professionals would include-
(i)Insurance agent or Insurance broker who offers investment advice solely in insurance products and is registered with Insurance Regulatory and Development Authority for such activity.
(ii)Any pension advisor who offers investment advice solely on pension products and is registered with Pension Fund Regulatory and Development Authority for such activity.
(iii)Any distributor of mutual funds, who is a member of a self regulatory organisation recognised by the Securities and Exchange Board of India (hereinafter: SEBI) or is registered with an association of asset management companies of mutual funds, providing any investment advice to its clients for mutual fund investment advice.
(iv)Any member of Institute of Chartered Accountants of India, Institute of Company Secretaries of India, Institute of Cost and Works Accountants of India, Actuarial Society of India or any other professional body as may be specified by the Board, who provides investment advice to their clients, incidental to his professional service.
(v)Any stock broker or sub-broker registered under SEBI (Stock Broker and Sub-Broker) Regulations, 1992, portfolio manager registered under SEBI (Portfolio Managers) Regulations, 1993 or merchant banker registered under SEBI (Merchant Bankers) Regulations, 1992, who provides any investment advice to its clients incidental to their primary activity.
(vi)Any fund manager, by whatever name called of a mutual fund, alternative investment fund or any other intermediary or entity registered with the Board.
(vii)Registered Investment Advisors for advice across all investment instruments.
2.5 Platform- The Company’s website and application and/or any other medium launched by the Company. The phrase Platform shall be deemed to include the plural as and when appropriate.
2.6 Privacy Policy- The Privacy Policy published by the Company, in compliance with Information Technology Act 2000, associated guidelines and other applicable laws of India.
2.7 Users- Individuals above 18 years of age who complete the registration process with the Company, by paying the relevant subscription fee, and are consequently able to access the financial planning services of the Company and its platform for the duration of their subscription. For this entire Terms of Service, words indicating one gender include all genders; and "they", "them" and "themselves” shall be read as "he/she/them", "his/her/them" and "himself/herself/themselves" respectively.
2.8 Vendors- Any third-party service provider which the Company collaborates with to help with communication, portfolio management or for any other function which would supplement or aid the Company’s services.
2.9 Visitors - Individuals who visit the platform but do not register, and access only the non-subscription content and services of the Company.
3. Basics
3.1 These Terms of Service shall be binding on the Users. Any inquiries regarding these terms can be directed to this form.
3.2 The Users, Visitors and Investment Professionals unconditionally and unequivocally accept all the terms and conditions laid down herein by accessing the Platform. Any terms mentioned herein but not explicitly stated in the Privacy Policy shall be applicable to the Privacy Policy as if explicitly stated therein.
3.2.1. Users and Visitors agree that they are aware of and accept that all information, content and recommendations provided by the Company is not investment advice. The Platform merely provides the Users with tools to easily collaborate with one or more Investment Professionals and members of their family for their financial and investments planning and executions.
3.2.2. Users agree, acknowledge and give consent to the Company to track Users’ financial transactions, statements and other records, for the legitimate interests of the parties which includes provision of services to the Users.
3.2.3. Users and Visitors agree to ensure that the information they receive would only be used for their personal use only. The Users and Visitors shall not disseminate the Platform’s information to any third parties, including but not limited to copying, reproducing, distributing, displaying, transmitting, modifying, or creating derivative works.
3.2.4. By using the services of the Company: -
- The User represents that they are 18 years of age or older and is of sound mind.
- The User has read the Privacy Policy, these Terms of Service etc. and understands the legal consequences and liabilities associated with the same.
- The User attests that by sharing their information and using the Platforms that the information provided and usage of the Platform is for themselves and not on anyone else’s behalf.
- The User agrees that the Platform relies on the most updated information provided by the User to create and maintain the User’s financial portfolio. It is the User’s responsibility to ensure that the information provided to the Company is correct and updated.
3.2.5. Users and Visitors agree that they will not be using the information provided for any purpose which is not permissible under the law. Users also agree that their usage in no manner will restrict, damage, impair or disable the application or the experience of another User. Users agree and understand that their usage of the Company’s services shall be prudent, reasonable and abiding with all the relevant and applicable laws.
3.2.6. Users will be able to make any transactions through the Platform after having completed the required Know Your Client (“KYC”) process as per relevant laws. Users agree that transactions made through the Platform shall be through Users’ bank accounts only and will be in accordance with the relevant laws and regulations applicable.
3.2.7. The Users acknowledge and understand that they bear a responsibility to maintain the confidentiality of their account and associated information, including and not limited to their login credentials, financial statements, securities transactions and any other personal identifiable information., and the Company shall in no way be responsible for any breach in confidentiality if the User fails chooses to divulge any personal identifiable information to any third party including other Users. Any loss or damage which emanates from the failure on the Users part to comply with this provision would not be the responsibility of the Company and the Company shall not be held liable for the same. Further, the Users also acknowledge that they would be solely responsible for informing the Company of any suspicious or unauthorized activity which may occur in their account.
3.2.8. Users and Visitors acknowledge that the software and hardware framework of the Platform, or any other software which is engaged in the process of providing services to the Users or otherwise, are legal property of the Company or a third party Vendor with which the Company has collaborated. The access to this software and/or hardware is only for a restricted purpose and time period for the provision of services to the Users, and does not convey any proprietary or ownership rights to the User.
3.2.9. The User agrees to provide their explicit consent to access their credit data from CRIF High Mark, Experian or any other credit bureaus once every month. A small fee may be charged for this service, at the sole discretion of the Company.
3.2.10. The Company reserves the right to delete, block, restrict, disable and suspend any Users’ account or a part thereof. The Company may provide a brief explanation for undertaking any aforementioned actions against a User, but would not be held liable for not providing an explanation, or if the User finds such explanation unsatisfactory.
3.2.11. If the Company finds or suspects that a User is engaging in any fraudulent and/or illegal activities, including but not limited to using mass media and/or bots to engage with the Platform, using mass media and/or bots to deteriorate the Company’s reputation, using inappropriate language towards employees or representatives of the Company, etc. the Company may refer such User to the relevant authorities.
3.2.12. The Platform will be accessing User’s inboxes for the purpose of collecting latest information for updating the financial portfolio, but the User will remain responsible for ensuring the accuracy and completeness of such information.
3.2.13. Users agree to being contacted by employees, representatives or any associated party of the Company over phone calls, emails, SMS, or any other electronic form of communication in relation to the provision of Services to the User. To enable the process, the User agrees that their number has not been listed in the Do Not Disturb List of Telecom Regulatory of India as it would inhibit communication from the Company. If the User has their number listed in the aforementioned list and decides to not de-register/de-list the same, then the Company shall not be held responsible for the non-delivery of any communication over SMS or phone calls.
4. Confidentiality
The Users and Visitors acknowledge that in the course of relationship with the Company and accessing the services that the Company offers, they may gain access to confidential information of the Company and its Platform. The Company has vested interest in such confidential information, and it includes features and mode of operation of Services, Intellectual Property Rights, inventions, techniques, processes, programs, ideas, algorithms, software, internal documentation, software design and other information. In relation to this confidential information Users and Visitors shall not use the Platform in any manner other than specifically and explicitly authorized by the Company through its Terms of Service, Privacy Policy, any other legal document or through formal communication.
5. Fees
5.1 The usage of the Platform shall be free for all Users. Any other value - added service provided by the Company may be charged as per fee policy determined by the company from time to time.
5.2 The Company may also host financial planning sessions with some of the Users. A fee may be charged for this session, at the sole discretion of the Company. Users will be informed in advance if their sessions would be charged or not.
5.3 The Company reserves the right to determine the fee structure and modify it as per its sole discretion from time to time. The fee, as determined by the Company, shall be fixed and non-negotiable, and shall not be inclusive of any taxes, including but not limited to GST.
6. Investment Professionals
The Company also collaborates with Investment Professionals, who are independent third party individuals, who will provide financial advice to the Users and may in certain cases also help the Users with the execution of relevant transactions. Following terms and conditions apply in case the Users decide to utilise their services-
- The Investment Professionals would be fully responsible for any processing of personal data or sensitive personal data or information shared with the Investment Professionals by the User for execution of transactions or for any other reason.
- The Investment Professionals would comply with all relevant laws in receiving, storing, processing or handling of information, including the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.
- The Company shall not be liable or bear any responsibility in any manner whatsoever, whether in relation to costs, expenses, loss or damages (direct, indirect or consequential) that arise from actions performed by the Investment Professionals.
- The Company would not be liable for any illegal, anti-social, objectionable, speculative, immoral activities or purposes, on account of violation of the Privacy Policy, misuse of any information such as name, age, etc. which is provided to the Company, either by the User or by Investment Professionals.
- The Investment Professionals would not be responsible for any damages, losses, suits, claims, counterclaims, actions, penalties, expenses etc. that emanate from promises, warranties or contractual obligations the Investment Professionals make with the User. The Company shall not be responsible for any such claims arising from the User based on any promise made by the Investment Professionals.
- The Investment Professional undertakes to comply with and be bound by all applicable laws and statutory requirements in India. Any dispute arising out of the use of the Platform shall be subject to exclusive jurisdiction to the courts in Bangalore, India.
- The Company and the Investment Professionals shall not be responsible for any damages, losses or claims whatsoever arising from transactions or reliance on the financial portfolio prepared by the Platform made by relying on the information provided by the Platform and/or Investment Professionals. The sole responsibility and liability of such transactions and its implications would lie with the User.
7. Protection of the Company’s Intellectual Property Rights
The Company reserves the rights over copyrights, trademarks and other intellectual property laws in relation to the Platform and Services. No information or content shall be taken and reproduced, distributed, shared, posted in any format whatsoever without the explicit permission of the Company. Through access to the Company’s services, the Users and Visitors are given restricted access to use the application for specific purposes relating to personal finance. The Users and Visitors agree to not sell, license, rent, lease, assign, distribute, transmit, host, outsource, disclose or otherwise commercially exploit the app or make the platform available to any third party. The User and Visitors also agree to not, Modify, make derivative works of, disassemble, decrypt, reverse compile or reverse engineer any part of the app nor remove, alter or obscure any proprietary notice (including any notice of copyright or trademark) of wealth42 or its affiliates, partners, suppliers or the licensors of the app.
8. Disclosure
8.1 The Platform is merely a financial planning application/ software assisting its Users to find the best possible investment mix to meet all their financial goals and in no way renders any investment advice nor does it execute any investment transactions on behalf of the Users. All purchases, investments, investment advisory and execution routed through the Company should not be construed as financial and/or investment advice as defined under the applicable statutes under the Indian jurisdiction.
8.2 All securities employed in client accounts are duly registered under the requisite legislations in the correct jurisdictions. But investments described on the Platform are not insured by any other governmental agency or instrumentality. Furthermore, investments on the Platform are in no way obligations or guarantees and are not guaranteed by any governmental, private or cooperative banks.
8.3 All investments are subject to market risks. Read all scheme related things carefully. Past performance is not an indicator of future returns.
8.4 While the Platform strives to ensure that the securities employed are high liquidity, low-risk and low tracking error, the Platform’s selection process in no way guarantees the quality of a particular security or that it will 1) be profitable, 2) properly track any comparable index, 3) trade in a liquid fashion, or 4) trade at or above its publicly-posted net asset value.
9. Indemnity
9.1 The User(s) shall indemnify and hold harmless the Company and its directors, associates, partners, employees, officers, advisers, vendors and affiliates and each of its or their officers, employees and agents from and against any and all third party claims and/or losses, including but not limited to:
a. any of the User's representations being found untrue;
b. breach of the User’s confidentiality obligations contained in these Terms of Service;
c. any breach of any Intellectual Property Rights by the User; or
d. any breach of any other terms contained in these Terms of Services, the Privacy Policy and the Click-Wrap Agreements.
9.2 These indemnities are continuing, separate and independent obligations and shall survive the termination of the relationship between the User and the Company.
10. Links to Other Websites
These Terms & Conditions apply only to the Services. The Services may contain links to other websites not operated or controlled by wealth42. We are not responsible for the content, accuracy or opinions expressed in such websites, and such websites are not investigated, monitored, or checked for accuracy or completeness by us. Please remember that when you use a link to go from the Services to another website, our Terms & Conditions are no longer in effect. Your browsing and interaction on any other website, including those that have a link on our platform, is subject to that website’s own rules and policies. Such third parties may use their own cookies or other methods to collect information about you.
11. Third Party features and logos
We might use third party logos on our website or application which is in compliance with the permitted nominative fair use policy of trademark regulation. These logos are used purely to identify the services and must not be construed as being used in partnership with the respective third party until and unless not specifically provided by wealth42. Furthermore, User should not infer or assume that wealth42 operates, controls, manages or is otherwise connected with these other third party websites.
12. Cookies
wealth42 uses "Cookies" to identify the areas of our website that you have visited. A Cookie is a small piece of data stored on your computer or mobile device by your web browser. We use Cookies to enhance the performance and functionality of our app but are non-essential to their use. However, without these cookies, certain functionality like videos may become unavailable or you would be required to enter your login details every time you visit the app as we would not be able to remember that you had logged in previously. Most web browsers can be set to disable the use of Cookies. However, if you disable Cookies, you may not be able to access functionality on our website correctly or at all. We never place Personally Identifiable Information in Cookies.
13. Force Majeure
If a part of or whole of responsibilities to be performed or services to be provided is hindered, delayed or prevented owing to a Force Majeure event, the Company shall not be liable for the same. This would include failure to perform any of the Company’s obligations as laid down in Terms of Service, and the performance of this event shall be suspended as long as the Force Majeure Event or the effects of the consequences of the Force Majeure Event continues.
14. Severability
Any illegality, invalidity or unenforceability of any provision of these Terms of Service, under any law or jurisdiction, shall not affect its legality, validity or enforceability under the law of any other jurisdiction. It would also not affect the legality, validity or enforceability of any of the other provisions.
15. Waiver
No failure on the part of any party to exercise, and no delay in exercising any right or remedy under this Terms of Service will operate as a waiver thereof, nor will any single or partial exercise of any right operate as a waiver thereof.
16. Assignment
The Company may transfer, subcontract or otherwise deal with our rights and/or obligations under this Terms of Service. This may be done without notifying the User. The User cannot assign, transfer or subcontract their rights granted hereunder to any third party.
17. Dispute Resolution
All reasonable efforts shall be made by both parties to settle all disputes, controversy or claims, arising out of or in connection with this Agreement, through negotiations. In case of failure If the Parties fail to resolve the aforementioned dispute, controversy or claim within 30 days of receipt of ‘Invitation to Negotiate’, the matter shall be referred to arbitration. The arbitration would be adjudicated by a sole Arbitrator who would be appointed by the Company within 60 days from the receipt of the legal notice. The seat and venue of such arbitration would be Bangalore, India. All proceedings of such arbitration, including any awards, shall be in English language. The award shall be final and binding on the arbitrating parties.
18. Governing Laws
These Terms of Service shall be governed, interpreted and construed in accordance with laws of India , without regard to conflict of law provisions and for resolution of any dispute which arises out of the use of services of the Company.
19. Agreement
These terms, in combination with Privacy Policy and any other agreement/arrangement in relation to the Services being provided to the User by the Company, would constitute the entire agreement between the Company and User. These Terms of Service would supersede all previous communications whether oral or written between the User and the Company pertaining to subject matter hereof.
20. Modifications and Terminations to the Application
19.1 wealth42 reserves the right to modify, suspend or discontinue, temporarily or permanently, the app or any service to which it connects, with or without notice and without liability to you.
19.2 wealth42 may from time to time provide enhancements or improvements to the features/ functionality of the app, which may include patches, bug fixes, updates, upgrades, and other modifications ("Updates"). Updates may modify or delete certain features and/or functionalities of the app. You agree that wealth42 has no obligation to (i) provide any Updates, or (ii) continue to provide or enable any particular features and/or functionalities of the app to you.
19.3 You further agree that all Updates, modifications and addition or removal of services will be (i) deemed to constitute an integral part of the app, and (ii) subject to the terms and conditions of this Agreement.
21. Promotions
20.1 wealth42 may, from time to time, include contests, promotions, sweepstakes, or other activities (“Promotions”) that require you to submit material or information concerning yourself. Please note that all Promotions may be governed by separate rules that may contain certain eligibility requirements, such as restrictions as to age and geographic location. You are responsible to read all Promotions rules to determine whether or not you are eligible to participate. If you enter any Promotion, you agree to abide by and to comply with all Promotions Rules.
20.2 Additional terms and conditions may apply to purchases of goods or services on or through the Services, which terms and conditions are made a part of this Agreement by this reference.
22. Survival
These Terms of Service, shall continue to operate to those duties and obligations which are intended to survive such termination or rescission, notwithstanding the termination or rescission of this Agreement, including without limitation clauses related to Indemnity, Intellectual Property, Confidentiality, Dispute Resolution, Governing Law and Jurisdiction. Further, any provisions of these Terms of Service which by implication are to survive the termination or rescission of the Terms of Service, shall not abate the causes of action that have accrued to the parties prior to such termination and rescission.
23. Modification of Terms
The Company reserves the right to change, from time to time or as needed, the terms laid down in these Terms of Service. This would include the right to change the extent and scope of the service, or any other category, facility or feature. Any such modification would be notified on the Platform. Users and Visitors 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 this Platform, Users shall be deemed to have accepted the Terms herein including the amended Terms published on the Platform from time to time. Users continued use of the Platform following the posting of changes mean that Users accept and agree to the changes. If Users do not agree with any such change, their sole and exclusive remedy is to terminate Users’ use of the Platform. It is, further, clarified that the User’s use and access of the Platform is subject to the most recent version of these Terms made available on the Platform at the time of such use.
24. Grievance Officer
The Grievance Officer of the company can be reached at
Email: legal@x2a.in
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