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Refund & cancellation policy

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Refund & cancellation policy

Refund & Cancellation Policy

Effective Date: 20-Sep-2025

Last Updated : 30-Oct-2025

Jurisdiction : Sawantwadi, Sindhudurg, Maharashtra, India

This Refund & Cancellation Policy (“Policy”) governs how MindStocs and its subsidiaries (“Company”) manage, process, review, and execute any request for refund, cancellation, withdrawal, reversal, or termination of payments made toward access to dashboards, indicators, algorithmic software, APIs, VPS hosting, subscription packages, or project participation (collectively, the “Services”).

This Policy forms an integral and legally binding part of the Company’s Terms & Conditions and Privacy Policy, and together these documents constitute the complete contractual arrangement between the User (“User”, “Subscriber”, “Client”, “you”, or “your”) and the Company.

This Policy is drafted in strict compliance with and interpreted in accordance with the Indian Contract Act, 1872, the Consumer Protection Act, 2019, the Consumer Protection (E-Commerce) Rules, 2020, the Information Technology Act, 2000, the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, and the Digital Personal Data Protection Act, 2023, together with all other applicable Indian laws and regulatory frameworks.

For clarity and full regulatory transparency, the User expressly acknowledges and agrees that:

1. All payments made to the Company constitute Service Access Fees for access to digital and software-based technology services only.

2. Such payments do not represent deposits, pooled investments, securities, insurance products, or profit-sharing arrangements of any kind.

3. MindStocs is not registered with the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Financial Intelligence Unit – India (FIU-IND), or any other financial or governmental regulator, nor does it act as, or hold itself out to be, an investment adviser, portfolio manager, stockbroker, fund manager, or deposit-taking entity.

4. No Service, Product, or Project offered by the Company shall be construed as a collective investment scheme, guaranteed-return plan, insurance cover, capital-protection mechanism, or financial instrument within the meaning of any Indian statute.

5. All payment transactions are routed exclusively through RBI-regulated payment gateways and banking channels, and refund or reversal processing follows the norms of those regulated intermediaries.

6. Refunds, cancellations, and withdrawals are contractual, non-statutory remedies under this Policy only and shall not, under any interpretation, be treated as deposit repayments, investment redemptions, financial reimbursements, or statutory compensation.

This Policy applies to all Users purchasing or subscribing to any paid Service or participation package of the Company, whether directly through the official MindStocs platform or via authorised payment gateways.

By continuing to access, purchase, or use any paid Service, the User expressly and irrevocably agrees that:

• this Refund & Cancellation Policy has been read, understood, and accepted in its entirety;

• all payments are made voluntarily with full awareness of their non-deposit, non-investment nature;

• no oral, digital, or implied assurance or representation outside this Policy shall create any enforceable obligation; and

• in the event of conflict between this Policy and any other communication or marketing material, this Policy shall prevail absolutely and conclusively.

The User further waives any right to assert contrary interpretation and acknowledges that this Policy is binding in full, subject only to non-derogable rights under applicable Indian law.

For avoidance of doubt, all marketing, advertising, affiliate, or promotional communications referring to refunds, returns, or benefits shall be read in conjunction with this Policy, and any inconsistent statement or omission—whether made by employees, resellers, influencers, or third-party promoters—shall be deemed unauthorised, invalid, and non-binding.

Any chargeback, dispute, or reversal initiated directly with a bank or payment gateway without first invoking this Policy shall be treated as a material breach of contract under Clause 9 (Fraud, Abuse & Misuse Restrictions).

1. General Refund & Cancellation Terms

1.1 Nature of Services

MindStocs provides access to digital software, dashboards, algorithmic tools, Application Programming Interfaces (APIs), Virtual Private Server (VPS) facilities, and Participation Packages (collectively, “Services”). All such offerings are provided strictly as technology-enabled solutions for research, education, operational use, or integration purposes. These Services shall under no circumstances be construed as deposits, pooled investments, securities, collective investment schemes, portfolio management, insurance products, or any other financial instrument regulated under the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), or the Insurance Regulatory and Development Authority of India (IRDAI). No element of the Services shall create any fiduciary, advisory, or capital-handling obligation upon the Company.

1.2 Finality of Payments

All payments made to the Company towards Service Access Fees, subscriptions, license activations, or Participation Packages are final, binding, and non-reversible, save and except in the limited circumstances expressly provided for in this Refund & Cancellation Policy. Once a Service has been activated, delivered, or provisioned under the User’s registered account, the consideration paid shall be deemed earned by the Company. Exceptions to this finality apply only in cases expressly provided under this Policy (for example, the Non-Activation refund set out at Clause 2.3 or duplicate/erroneous charge remediation under Clause 3.4).

1.3 Non-Refundable Scenarios

Refunds, reversals, or cancellations shall not be entertained in the following instances:

(a) Software or digital tools already delivered, activated, linked, or accessed under a valid license;

(b) Subscription billing cycles (monthly, quarterly, annual, or otherwise) that have already commenced or completed, regardless of actual usage;

(c) Participation Packages or Projects where access, integration, or membership has already commenced, except where explicitly permitted under Clause 4 of this Policy or the Company’s Terms & Conditions;

(d) Cases where non-delivery or access failure arises due to user-side factors (including but not limited to incorrect login credentials, device incompatibility, poor internet connectivity, or failure to follow activation instructions);

(e) Dissatisfaction arising from trading performance, strategy outcomes, or market-related losses — as the Company does not guarantee returns, profits, or risk-free results.

1.4 Procedure for Refund & Cancellation Requests

All refund, cancellation, or withdrawal requests must be:

(a) submitted in writing exclusively to support@mindstocs.com from the User’s registered email ID;

(b) raised within the timelines and subject to eligibility conditions specified under this Policy; and

(c) accompanied by verifiable proof of payment and identity validation (e.g., transaction reference, payment confirmation, last four digits of PAN, or bank UTR).

Only verifiable evidence issued by payment gateways, banks, or the Company’s system logs will be accepted; screenshots, photographs, or other unverifiable documents are not acceptable as sole proof of payment or delivery. Requests made through unofficial channels (social media, verbal instructions, third-party contacts) shall not be actioned. Any chargeback or dispute initiated directly with a bank or payment gateway without first invoking this Policy shall be treated as a material breach under Clause 9.

1.5 Disclaimer of Assured Outcomes

Nothing in this Policy, the Terms & Conditions, the Privacy Policy, or any marketing material shall be interpreted as a guarantee, assurance, or undertaking of:

(a) fixed, certain, or risk-free returns,

(b) capital protection,

(d) fiduciary responsibilities akin to deposit-taking or portfolio management.

Service Access Fees are payments for software and technology services only; Users remain solely responsible for financial, trading, tax, and regulatory decisions arising from their use of the Services. The Restoration Fund, where applicable, is a discretionary benefit and not part of the refund rights under this Policy.

1.6 Regulatory Compliance Note

This Clause is to be read in alignment with the Consumer Protection Act 2019, the Indian Contract Act 1872, the Digital Personal Data Protection Act 2023, and applicable IT laws. By continuing the Services, the User acknowledges and accepts that refunds, cancellations, and reversals are limited exclusively to the scope expressly set out in this Policy and cannot be expanded by implication, inference, or external communication.

2. Software Services Refund Policy

2.1 Consumption Upon Delivery

Once any software-based service (including but not limited to dashboards, indicators, algorithmic utilities, Expert Advisors (EAs), Application Programming Interfaces (APIs), Virtual Private Server (VPS) add-ons, or participation modules) has been delivered, activated, licensed, or linked with a User account, it shall be deemed fully consumed. Activation confirmation via system-generated timestamp shall constitute full delivery. No partial, prorated, or time-based refund shall be issued for unused or under-utilised service duration. VPS/API activation, even without active trading usage, is treated as full delivery.

2.2 Paid Trial Pack – No Free Trials

The Company may, at its discretion, offer a short-duration Paid Trial Pack for demonstration or evaluation. Such packs are billed as valid Service Access Fees, not complimentary trials. Once activated, these packs are treated as consumed services and are non-refundable under all circumstances, irrespective of usage, satisfaction level, or outcome.

2.3 Exception – Non-Activation Clause

(a) A refund may be requested only if a purchased service is not activated or provisioned within seventy-two (72) hours of verified payment and registration, subject to:

• the request being submitted to support@mindstocs.com within five (5) calendar days of the payment date; and

• valid proof of payment being submitted (gateway reference, UTR, or bank confirmation).

(b) Refund eligibility shall not apply where non-activation is caused by:

• incomplete or incorrect KYC or verification details submitted by the User,

• failure to follow activation/onboarding instructions,

• device, browser, OS, or internet-related issues on the User’s side,

• a chargeback or dispute filed with any bank/gateway before contacting the Company,

• temporary suspension due to maintenance, force majeure, or regulatory instruction, or

• wrong plan selection or accidental/mistaken purchase by the User.

2.4 Processing of Refunds (Where Permissible)

Refunds under Clause 2.3 shall be processed only after verification through internal system logs and payment reconciliation records. All refunds are routed exclusively to the original mode of payment within seven (7) to ten (10) business days, subject to intermediary bank/gateway timelines. The Company may verify bank or UPI account ownership to ensure AML/KYC compliance.

2.5 Proof of Delivery & Conclusive Evidence

Delivery or activation of Services shall be conclusively established through system-generated logs, including license issuance timestamps, login activity, API/VPS integration events, or automated access confirmations. Such records are treated as final and legally admissible evidence under Section 65B of the Indian Evidence Act, 1872.

2.6 User Dissatisfaction & Performance Disclaimer

Refunds shall not be granted on the basis of subjective dissatisfaction, trading losses, strategy performance, latency, broker outages, slippage, automation delays, VPS downtime, or any other market-dependent or third-party factor. The Services are provided “as-is” and “as-available” for software, research, and educational use only. The Restoration Fund (if applicable) is a discretionary benefit and not a refund entitlement. No refund shall arise from simulated, illustrative, or hypothetical performance results displayed for educational or marketing purposes.

2.7 Legal Classification Clarification

For avoidance of doubt, software activation and delivery constitute full service performance under the Indian Contract Act, 1872 and Consumer Protection Act, 2019. Once activation is confirmed, non-performance claims shall not be treated as “deficiency in service”. Claims of loss, non-profitability, or expectation mismatch do not create any refund right under Indian law.

3. Subscription-Based Services

3.1 Advance Billing and Non-Refundability

All subscription plans — whether monthly, quarterly, semi-annual, or annual — are billed strictly in advance. Once activation and access provisioning are completed, the subscription fee shall be deemed fully earned and consumed. Each billing cycle is an indivisible unit and is non-refundable under all circumstances, including non-usage, dissatisfaction, or change of intention. Auto-renewals, where enabled, operate under the RBI e-mandate framework. Users may revoke auto-debit through their issuing bank or payment gateway in accordance with RBI regulations. Failure to disable auto-renewal shall not create a refund right.

3.2 Cancellation Effect

Users may request cancellation at any time by emailing support@mindstocs.com from their registered email. Cancellation stops future renewals only. It does not grant refund, credit, or adjustment for the ongoing billing cycle once service activation has occurred. Forgetting to cancel, inactivity, or lack of usage shall not constitute grounds for refund.

3.3 No Prorated Refunds

Mid-cycle cancellations do not qualify for prorated refunds, partial credits, carry-forward balances, or subscription freezes. Subscription validity is time-based, not usage-based. Refunds will only be issued if expressly ordered by a competent authority under the Consumer Protection Act, 2019.

3.4 Duplicate or Erroneous Charges

In the event of duplicate or erroneous billing caused by bank, gateway, or system error:

(a) The User must notify the Company within seven (7) calendar days of the transaction; and

(b) Upon verification, the duplicate amount will be refunded to the original payment method or adjusted against the next billing cycle.

Failure to report within the specified period may void the refund claim. Filing a chargeback without first contacting the Company shall be treated as a breach of this Policy.

3.5 Nature of Subscription Services

Subscriptions grant time-bound digital access to dashboards, indicators, APIs, VPS utilities, and related software tools. These are technology services only and shall not be treated as deposits, pooled investments, profit-linked products, portfolio management, or advisory services. No subscription implies guaranteed returns, trading success, or capital protection.

3.6 Proof of Service Delivery

Service delivery shall be conclusively established through system-generated logs, provisioning timestamps, automated emails, or secure access records. Such logs constitute legally admissible proof of delivery under Section 65B of the Indian Evidence Act, 1872.

3.7 No Liability for Non-Use

No refund, credit, or compensation shall be issued for:

(a) non-usage or inactive accounts,

(b) subscription expiry or lapse without renewal,

3.8 No Transfer, Pause, or Conversion

Subscriptions are non-transferable, non-extendable, and cannot be paused, reassigned, or converted into other plans or services.

3.9 Suspension for Policy Violations

The Company may suspend or terminate subscription access for breach of Terms & Conditions, chargeback abuse, misuse of tools, or regulatory risk, without refund or compensation.

3.10 Legal Clarification

Subscription fees represent contractual consideration for software access under the Indian Contract Act, 1872 and the Consumer Protection Act, 2019. Upon activation, the Company’s service obligation is deemed fully performed. Subscriptions do not create any financial, fiduciary, or regulatory duty under SEBI, RBI, or IRDAI rules.

4. SOFTWARE ACCESS PACKAGES – CANCELLATION & REFUND RULES

4.1 Nature of Packages

Software Access Packages provide access to dashboards, APIs, indicators, VPS utilities, or other digital tools. These Packages are strictly technology-based services and shall not, under any interpretation, be treated as deposits, pooled funds, investments, securities, capital-return schemes, or guaranteed-return programs.

4.2 No Refund After Activation

Once a Package has been activated, licensed, linked, or provisioned under the User’s registered account, the Service Access Fee shall be deemed fully earned. Activated software, API keys, dashboards, VPS slots, or algorithm access are strictly non-refundable, irrespective of usage, satisfaction level, or financial outcome.

4.3 Refund Eligibility – Non-Activation Only

A refund may be requested only if the Package is not activated or provisioned within seven (7) Business working days (Non-including weekends and holidays) from the date of verified payment and successful onboarding.

The request must be submitted in writing to support@mindstocs.com within the same 7-day period, together with valid proof of payment.

No other form of delay, dissatisfaction, or personal situation will qualify for refund.

4.4 Exclusions from Refund Eligibility

Refunds shall not apply where non-activation is caused by:

(a) incomplete or failed KYC or verification,

(b) incorrect or missing details submitted by the User,

(d) payment dispute or chargeback initiated by the User,

(e) force majeure, scheduled maintenance, or regulatory instructions.

4.5 Duplicate or Erroneous Charges

If a duplicate payment is verified through Company logs and payment gateway records, the excess amount will be refunded to the original payment method or, at the Company’s discretion, adjusted against the next billing.

4.6 No Refund for User Dissatisfaction

Refunds shall not arise from:

(a) dissatisfaction with performance, logic, or output,

(b) trading loss, missed trades, or market-based outcome,

(d) misunderstanding of features or assumed profit expectation.

4.7 Proof of Service Delivery

Activation logs, license records, server timestamps, or API linkage records maintained by the Company shall constitute final, binding, and legally admissible proof of delivery under Section 65B of the Indian Evidence Act, 1872.

4.8 Regulatory Clarification

Refunds under this Clause are contractual remedies only. They do not represent:

(a) repayment of capital,

(b) redemption of an investment product,

(d) reversal of a deposit or pooled fund.

4.9 No Partial or Prorated Refunds

Once access has been granted, no prorated, partial, or pro-rata refund shall be issued, even if the User discontinues early or does not utilise the Package.

4.10 User-Initiated Cancellation

Cancellation by the User does not entitle them to a refund of amounts already paid. Cancellation affects only future renewals and does not reverse past or current billing.

4.11 Company-Initiated Termination

If the Company permanently discontinues a Package due to technical or regulatory reasons not arising from User misconduct, a proportional credit or refund may be issued at the Company’s sole discretion.

4.12 Compliance Alignment

This Clause is aligned with the Indian Contract Act, 1872, the Consumer Protection Act, 2019, the Digital Personal Data Protection Act, 2023, and applicable RBI and IT regulations. All refunds, where approved, are processed only through RBI-regulated payment channels.

5. CANCELLATION OF ACCOUNTS & SERVICES

5.1 User-Initiated Cancellation

Users may cancel their account or subscribed Services only by submitting a written request from their registered email ID to support@mindstocs.com.

Requests made through unofficial channels (social media, WhatsApp, phone calls, or third-party messages) shall not be processed, in order to prevent unauthorised actions and comply with the Digital Personal Data Protection Act, 2023 (DPDP Act).

Identity verification (e.g., OTP, PAN, or registered contact validation) may be required before processing cancellation.

5.2 Effect of Cancellation

Upon receipt and verification of a valid cancellation request:

(a) All future renewals, activations, or auto-billing shall immediately stop;

(b) Cancellation does not reverse or refund any completed or ongoing Service Access Fees or Subscription Fees;

(c) Any financial effect of cancellation shall be governed strictly by Clause 3 (Subscription Services) and Clause 4 (Software Access Packages).

Once processed, cancellation is final and irreversible.

5.3 Immediate Disabling of Access

Upon confirmed cancellation, all access to dashboards, APIs, indicators, VPS, software licenses, and associated digital tools shall be disabled.

Active subscriptions will continue only until the end of the current billing cycle. No refund or credit will be issued for unused duration.

5.4 Company-Initiated Suspension or Termination

The Company may suspend, restrict, or terminate a User account without refund where:

(a) fraud, chargeback, abuse, or unauthorised system use is detected or suspected;

(b) the User violates the Terms & Conditions, Privacy Policy, or this Policy;

(d) the User’s conduct causes reputational, operational, or financial harm to the Company.

The Company may report such actions to regulators, law enforcement, or payment gateways where legally required.

5.5 Data Handling & Retention

Upon cancellation, the Company will delete, mask, or anonymise non-essential personal data in accordance with the DPDP Act, 2023, the IT Act, 2000, and the Privacy Policy.

However, the following data will be retained for statutory compliance:

(a) GST and Income Tax records – minimum 7 years;

(b) KYC and payment records – as required by RBI/PMLA;

Retention is strictly for compliance, audit, or lawful investigation only.

5.6 Regulatory Override

Cancellation may be delayed or denied where required to:

(a) comply with court, regulatory, or tax authority orders;

(b) preserve digital evidence in cases of suspected fraud, cybercrime, or misuse;

Such delay shall not constitute “deficiency in service” under the Consumer Protection Act, 2019.

5.7 No Waiver of Pending Obligations

Cancellation does not discharge outstanding dues, including:

(a) unpaid Service Access Fees or instalments;

(b) reversal of benefits, payouts, or credits received in error;

The Company may offset pending dues against any eligible refund or credit prior to closure.

5.8 Final Proof of Cancellation

System-generated logs, timestamped communications, and account deactivation records shall constitute final, binding, and legally admissible proof of cancellation under Section 65B of the Indian Evidence Act, 1872.

No claim of “cancellation not processed” shall be accepted unless supported by a valid judicial or regulatory order.

6. PROCESSING TIME & METHOD

6.1 Authorised Channels Only

All refunds, reversals, or cancellations approved under this Policy shall be processed only through RBI-regulated payment gateways or authorised banking channels.

MindStocs does not store or process card numbers, CVV, UPI PIN, net-banking passwords, or any sensitive payment credentials, in full compliance with the RBI Master Direction on Digital Payment Security Controls.

All refund transactions are executed through tokenised and encrypted systems.

6.2 Standard Processing Timeline

Approved refunds are normally credited within seven (7) to fourteen (14) Business Days from the date of formal approval.

Actual settlement time may vary due to:

(a) inter-bank or gateway settlement cycles,

(b) reconciliation dependencies,

(d) compliance or regulatory delays beyond the Company’s control.

6.3 Permissible Refund Destinations

Refunds shall be credited only to:

(a) the original mode of payment used during purchase, or

(b) a verified bank account in the User’s own name (only where legally permitted and post 2-factor verification).

Refunds will NOT be issued via cash, crypto, unregulated wallets, or third-party accounts, in compliance with RBI, PMLA, and FIU-IND norms.

6.4 Preconditions Before Refund Initiation

No refund shall be initiated until the following checks are completed:

(a) KYC/AML verification under the Prevention of Money Laundering Act, 2002,

(b) confirmation of GST/TDS or statutory deductions (if applicable),

(d) confirmation that no chargeback, fraud alert, or regulatory freeze exists on the transaction.

Refund processing begins only after successful verification of all the above.

6.5 External Delay Exclusions

MindStocs shall not be liable for delays caused by:

(a) payment gateway or banking downtime,

(b) incorrect or mismatched bank details submitted by the User,

(d) legal, regulatory, or judicial restrictions on the transaction.

In such cases, the User will be notified in writing and support will assist with necessary follow-ups.

6.6 Refund Acknowledgement

Upon refund initiation, the User will receive an official email confirmation containing:

- refund approval date,

- transaction reference number,

- refund mode, and

- expected settlement timeline.

This acknowledgment serves as valid proof of refund processing for all future communication with banks or gateways.

6.7 Conclusive Records

All refund logs, timestamps, payment processor reports, and audit trails maintained by the Company constitute final and binding proof of refund initiation under Section 65B of the Indian Evidence Act, 1872.

Claims of non-receipt must be supported by valid written proof from the User’s bank or payment provider.

6.8 Regulatory Overrides

If a refund is flagged, frozen, or legally restricted by any competent authority — including RBI, SEBI, FIU-IND, Enforcement Directorate, cyber-law units, or law-enforcement agencies — the Company may delay, suspend, or redirect the refund in full compliance with such orders.

MindStocs bears no liability for delays arising from statutory or regulatory intervention. Notification will be provided where legally permissible.

7. CONTACT FOR REFUNDS & CANCELLATION

7.1 Official Communication Channel

All refund, withdrawal, or cancellation requests must be submitted exclusively to the Company through the official communication channel below:

MindStocs

1452 Majgoan Tambalgothan,

Sawantwadi, Sindhudurg,

Maharashtra – 416510, India

Email: support@mindstocs.com

Phone: +91 9021008698

Working Hours: Monday to Saturday, 10:00 AM – 6:00 PM IST

Requests made via WhatsApp, social media, phone calls, personal messaging, or any unofficial medium shall not be considered valid.

7.2 Scope of Contact

The contact details in Clause 7.1 apply strictly to refund, withdrawal, and cancellation matters only.

Queries related to privacy, data handling, or regulatory grievances must be directed to the Grievance Officer as per Clause 21 of the Privacy Policy.

Incorrect routing of communication may result in processing delays, for which the Company shall not be held liable.

7.3 Grievance Redressal

If a User is dissatisfied with the handling of a refund or cancellation request, they may escalate the matter to the Grievance Officer.

Escalations shall be:

(a) acknowledged within forty-eight (48) hours, and

(b) resolved within thirty (30) working days,

as per Rule 4(4) of the Consumer Protection (E-Commerce) Rules, 2020 and Clause 21 of the Privacy Policy.

Unresolved matters may be escalated to the Consumer Dispute Redressal Commission or any competent statutory authority.

7.4 Reliance on Official Channels Only

Users must rely solely on the official channels listed in Clause 7.1.

The Company bears no responsibility for losses, delays, or fraud arising from:

(a) unofficial or impersonated communication,

(b) phishing attempts or fake domains, or

7.5 Verification Requirement

All refund or cancellation requests must:

(a) originate from the User’s registered email ID or verified contact number, and

(b) include identity/KYC verification where required under RBI or PMLA norms.

Requests from unverified or alternate sources will be rejected without exception.

7.6 Acknowledgement of Request

Upon receiving a valid request, the Company will issue an acknowledgement email within forty-eight (48) hours containing:

- unique reference/ticket number,

- date and time of receipt, and

- summary of request.

This acknowledgement serves as the official proof of submission.

7.7 Regulatory Cooperation

The Company may be legally required to share refund-related logs, communication history, or payment records with competent authorities such as RBI, SEBI, FIU-IND, the Data Protection Board of India, or consumer courts.

Submission of a refund/cancellation request constitutes User consent for such lawful disclosures.

7.8 Conclusive Proof of Communication

System-generated records — including email timestamps, ticket logs, acknowledgment receipts, and helpdesk trails — constitute final and legally admissible proof of communication under Section 65B of the Indian Evidence Act, 1872.

Claims of non-receipt will not be accepted unless validated by a competent judicial or regulatory authority.

8. REGULATORY COMPLIANCE & LEGAL FRAMEWORK

8.1 Applicable Laws

This Refund & Cancellation Policy (“Policy”) is governed exclusively by the laws of India and shall be interpreted in strict conformity with the following statutes and regulatory frameworks:

(a) The Indian Contract Act, 1872 – governing enforceability of contractual remedies;

(b) The Consumer Protection Act, 2019 and the Consumer Protection (E-Commerce) Rules, 2020 – ensuring transparency and fair digital practices;

(c) The Information Technology Act, 2000 and its allied Rules – recognising digital records, electronic authentication, and lawful service delivery;

(d) The Digital Personal Data Protection Act, 2023 – regulating lawful processing of personal data connected to refunds, withdrawals, or cancellations;

(e) The Income Tax Act, 1961 and the Goods and Services Tax Act, 2017 – governing GST, TDS, and statutory deductions on digital payments;

(f) Any binding circulars, notifications, or lawful directives issued by competent authorities including RBI, SEBI, FIU-IND, IRDAI, or CERT-In, where applicable.

8.2 Clarification of Corporate Scope

MindStocs operates strictly as a software and technology service provider. Nothing in this Policy, the Terms & Conditions, or any related communication shall imply or constitute:

(a) SEBI registration as Investment Adviser, Research Analyst, Portfolio Manager, Stockbroker, or CIS Operator;

(b) RBI registration as Bank, NBFC, Wallet Issuer, or Payment System Operator;

(d) Classification as a “Reporting Entity” under the Prevention of Money Laundering Act, 2002 (PMLA).

MindStocs does not solicit, pool, manage, or invest user funds and does not provide regulated financial, advisory, or insurance products under Indian law.

8.3 Nature of Refunds and Cancellations

Refunds, reversals, or withdrawals processed under this Policy are contractual remedies limited solely to digital service access. They shall not be construed as:

(a) repayment of deposits,

(b) redemption of securities or investment units,

(d) discharge of insurance or financial claims.

All refunds are executed only in accordance with this Policy and applicable Indian law.

8.4 Conflict and Precedence

In the event of conflict between this Policy and any applicable Indian law:

(a) the stricter provision ensuring higher consumer protection shall prevail; and

(b) all other provisions shall remain valid and enforceable to the maximum extent permitted by law.

8.5 Integration with Other Policies

This Policy forms an integral component of the Company’s Terms & Conditions and Privacy Policy. In the event of overlap or ambiguity:

- the more compliant or stricter clause shall apply, and

- any conflicting marketing, advertisement, or oral representation shall be deemed unauthorised and void.

The only authoritative versions of this Policy are those published on the official MindStocs website.

8.6 Jurisdiction & Enforcement

All disputes arising from or in connection with this Policy shall fall under the exclusive jurisdiction of the competent courts at Sindhudurg, Maharashtra, India, without prejudice to statutory rights enabling Users to approach:

(a) Consumer Dispute Redressal Commissions under the Consumer Protection Act, 2019, or

(b) The Data Protection Board of India under the Digital Personal Data Protection Act, 2023.

The governing and legally binding language of this Policy is English. All legal notices must be issued in writing via authorised email or registered correspondence as per Clause 7.

9. FRAUD, ABUSE & MISUSE RESTRICTIONS

9.1 Right to Suspend or Deny

MindStocs reserves the unrestricted right to suspend, delay, withhold, or permanently deny any refund, withdrawal, or cancellation request where fraud, abuse, manipulation, or misuse of this Policy is suspected or detected.

The Company’s decision shall be final and binding, subject only to orders issued by a competent court or regulatory authority.

9.2 Definition of Fraud or Abuse

For the purposes of this Policy, “fraud”, “abuse”, or “misuse” includes but is not limited to:

(a) Submission of forged, falsified, altered, or inconsistent KYC or payment documents;

(b) Raising refund requests after full or partial consumption of Services;

(d) Filing chargebacks or reversals directly with banks or gateways without first using the Company’s internal grievance process;

(e) Concealing material facts, providing false declarations, or submitting fabricated evidence;

(f) Coordinating with third parties to engineer fraudulent refund claims;

(g) Attempting to misclassify software refunds as deposit repayments, capital returns, or financial redemptions.

Such acts constitute a material breach of this Policy and the Terms & Conditions.

9.3 Consequences of Fraud or Misuse

Upon detection or reasonable suspicion of fraud, the Company may, without prior notice:

(a) Reject, freeze, or delay refund or withdrawal processing;

(b) Impose service fees, penalties, or statutory deductions;

(d) Forfeit all pending or future benefits, including any discretionary credits or support programs;

(e) Report the incident to payment gateways, acquiring banks, or law-enforcement and regulatory bodies (RBI, SEBI, FIU-IND, Cyber Crime Units, etc.).

All actions taken will be recorded in the Company’s internal compliance logs.

9.4 Legal Consequences

Fraudulent or abusive conduct may attract civil or criminal prosecution under applicable laws, including:

(a) Indian Penal Code, 1860 – Sections 406, 415, 417, 420 (Cheating, Breach of Trust, Misrepresentation);

(b) Information Technology Act, 2000 – Sections 43, 65, 66C, 66D (Cyber Fraud, Impersonation, Data Misuse);

The Company reserves the right to initiate or assist legal action where required.

9.5 Regulatory & Judicial Overrides

No refund, withdrawal, or cancellation shall be processed where:

(a) The transaction is under active chargeback, dispute, or arbitration with a bank or gateway;

(b) A regulatory freeze, injunction, or lawful order is in effect;

The Company bears no liability for delay or non-processing caused by such orders.

9.6 Conclusive Evidence

The following shall constitute final, binding, and legally admissible proof under Section 65B of the Indian Evidence Act, 1872:

(a) Server and activation logs,

(b) Payment gateway and bank settlement records,

(d) Internal audit and compliance investigation reports.

No contrary claim shall be accepted unless ordered by a competent court or regulator.

10. FORCE MAJEURE & EXTERNAL DEPENDENCIES

10.1 Exemption from Liability

MindStocs shall not be liable for any delay, suspension, interruption, or failure in processing refunds, cancellations, or withdrawals arising from circumstances beyond its reasonable control (“Force Majeure Events”), including but not limited to:

(a) Payment gateway or banking system failures, settlement delays, or downtime within RBI-regulated intermediaries;

(b) Cyber incidents such as hacking, ransomware, phishing, bot attacks, data breaches, or unauthorised system access;

(d) Government, judicial, or regulatory orders such as lockdowns, sanctions, embargoes, or policy restrictions;

(e) Strikes, labour unrest, or operational shutdowns affecting third-party service providers;

(f) Infrastructure or connectivity failures including power outages, ISP disruptions, or network breakdowns outside the Company’s control.

All obligations affected by a Force Majeure Event shall remain suspended for the duration of such event.

10.2 Extension of Timelines

Upon occurrence of a Force Majeure Event, all refund, cancellation, or withdrawal timelines under this Policy shall stand automatically extended until normal operations resume.

No interest, damages, penalties, or breach claims shall apply during this period.

10.3 Notification of Prolonged Events

If the Force Majeure Event continues for more than seventy-two (72) consecutive hours, the Company shall make reasonable efforts to notify affected Users via:

(a) Email to the registered address,

(b) Dashboard or website announcement, or

Such notification is informational only and does not create any additional liability on the Company.

10.4 External Dependencies

Users acknowledge that refund and cancellation processing depends on external intermediaries and statutory systems, including:

(a) RBI-regulated payment gateways, banks, and settlement networks (NEFT, RTGS, IMPS, UPI),

(b) Banking and reconciliation timelines outside the Company’s control,

Delays arising from such dependencies shall not constitute breach or deficiency of service by the Company.

10.5 No Breach or Damages

Any delay or non-performance caused by Force Majeure or third-party dependency shall not:

(a) Constitute breach of this Policy or the Terms & Conditions,

(b) Entitle the User to damages, penalties, or interest, or

The Company’s obligation is limited to resuming performance when the event ceases.

10.6 Integration with Other Policies

This clause operates in alignment with Clause 32 (Force Majeure) of the Terms & Conditions.

Where conflicting interpretations arise, the stricter construction ensuring maximum legal compliance and operational protection shall prevail, without affecting any non-derogable statutory rights of the User.

10.7 Regulatory & Cybersecurity Alignment

Where applicable, MindStocs shall comply with:

(a) CERT-In Directions, 2022 for cybersecurity incidents,

(b) RBI Digital Payment Security Controls, 2021 for payment disruptions, and

Such compliance shall not be treated as delay, breach, or waiver of any obligation under this Policy.

11. BREACH OF POLICY & TERMINATION RIGHTS

11.1 Grounds for Breach

MindStocs reserves the right to suspend, deny, or permanently bar any refund, cancellation, or withdrawal request, and/or restrict User access to Services, where the User is found, or reasonably suspected, to have engaged in:

(a) Submission of forged, falsified, altered, or misleading KYC, payment, or identity details;

(b) Misuse, attempted misuse, or unauthorised interference with the Company’s software, dashboards, APIs, VPS systems, or automation modules;

(d) Violation of applicable Indian laws including the IT Act, 2000, DPDP Act, 2023, Consumer Protection Act, 2019, or PMLA, 2002;

(e) Conduct causing financial, operational, cybersecurity, or reputational harm to the Company, its partners, or RBI-regulated intermediaries.

Such conduct shall constitute material breach of contract and may attract civil and criminal liability under Indian law.

11.2 Consequences of Breach

Upon confirmed or suspected breach, the Company may, at its sole discretion:

(a) Suspend or restrict the User’s account, licenses, API access, or VPS access;

(b) Withhold, delay, or deny refund, reversal, or withdrawal processing pending internal or regulatory clearance;

(d) Forfeit all future privileges including Restoration Fund eligibility, support access, or withdrawal rights.

All actions taken shall be audit-logged and retained for regulatory and evidentiary purposes.

11.3 Notification of Action

The Company will make reasonable effort to notify the User unless:

(a) Disclosure is prohibited by law, court order, or regulator;

(b) Notification may compromise audit, investigation, or security protocol;

Where notification is lawfully restricted, post-facto disclosure may be issued once permitted.

11.4 Preservation of Rights

Suspension or termination does not affect the Company’s right to:

(a) Recover unpaid fees, penalties, or charges;

(b) Claim damages for losses, system abuse, or reputational injury;

(d) Report misconduct to RBI, SEBI, FIU-IND, CERT-In, or law enforcement.

Such action may proceed simultaneously or independently.

11.5 Regulatory Cooperation

The Company may disclose transaction logs, KYC records, communication trails, and forensic evidence to competent authorities including:

(a) RBI,

(b) SEBI,

(d) Cybercrime or Consumer Protection authorities,

provided such request is lawful, written, and properly authenticated.

11.6 Finality of Company Decision

All decisions taken by the Company under this Clause shall be final and binding unless overturned by a competent court or statutory regulator.

The User waives any right to contest such decisions except where mandatory statutory rights apply.

System-generated logs, timestamps, and audit records shall serve as final and legally admissible proof under Section 65B of the Indian Evidence Act, 1872.

12. AUDIT, RECORD-KEEPING & REGULATORY COOPERATION

12.1 Retention Period

MindStocs shall retain all refund, cancellation, payment, and dispute-related records for a minimum of seven (7) years, or longer where legally required under:

(a) Income Tax Act, 1961

(b) GST Act, 2017

(d) Digital Personal Data Protection Act, 2023 and CERT-In Directions (2022)

Where records relate to an active investigation, tax inquiry, chargeback, or legal proceeding, retention shall continue until official closure or expiry of limitation period.

12.2 Scope of Records

Retained records include:

(a) Transaction metadata, payment gateway logs, UTR references, timestamps

(b) Refund/cancellation emails, tickets, and approval/rejection history

(d) Service activation and license delivery logs under Section 65B of the Indian Evidence Act, 1872

(e) Official correspondence with Users, gateways, banks, or authorities

All records are stored with encryption, access control, and audit trail logging as per ISO 27001 and CERT-In standards.

12.3 Cooperation with Authorities

The Company will cooperate with lawful written requests issued by:

(a) Data Protection Board of India (DPB)

(b) Consumer Dispute Redressal Commissions

(d) CERT-In and cybersecurity agencies

(e) Courts, tribunals, or statutory regulators

Cooperation shall be limited strictly to the lawful scope of each request.

12.4 Controlled Disclosure Protocol

(a) Data disclosure is made only upon receipt of a valid written order

(b) Each disclosure is internally logged with authority name, date, file reference, and data category shared

(d) User notification will be issued where legally permissible as per Clause 41.3 of the Privacy Policy

12.5 AML / PMLA Clarification

MindStocs is **not** a “Reporting Entity” under the Prevention of Money Laundering Act, 2002.

Accordingly:

(a) STR/CTR/KYC reporting obligations rest with RBI-regulated payment gateways and banks

(b) MindStocs’ role is limited to lawful cooperation where mandated by valid authority

No interpretation of this Policy shall convert software service fees into deposits, securities, or managed funds.

12.6 Audit & Verification

The Company may conduct internal or external audits to:

(a) Verify refund, cancellation, and deduction accuracy

(b) Confirm compliance with DPDP Act, GST, and financial laws

(d) Maintain defensible records against chargebacks, cyberfraud, or consumer disputes

Audit logs are archived and may be shared only upon lawful demand.

12.7 Preservation of Legal Rights

Nothing in this Clause shall:

(a) Create trustee, fiduciary, investment, or advisory obligations

(b) Reclassify service fees as capital, deposits, pooled funds, or securities

12.8 Evidentiary Validity

All system logs, audit records, emails, payment confirmations, and server timestamps maintained under this Clause shall constitute final, binding, and legally admissible electronic evidence under Section 65B of the Indian Evidence Act, 1872.

Such records shall serve as conclusive proof of payment, activation, refund processing, and compliance efforts unless overturned by a competent judicial or regulatory order.

13. FINAL DISCLAIMER & LIMITATION OF LIABILITY

13.1 Regulatory Status

MindStocs operates solely as a software and technology service provider.

It is not registered or regulated by SEBI, RBI, IRDAI, FIU-IND, or any equivalent domestic or foreign authority.

Nothing in this Policy, the Terms & Conditions, the Privacy Policy, or any communication (digital, printed, or verbal) shall be construed as:

(a) investment, financial, or trading advice,

(b) portfolio management or research analysis,

(d) insurance, capital protection, or guaranteed-return product,

(e) any regulated financial intermediary activity under SEBI, RBI, or IRDAI law.

All services are software-based access utilities for lawful research, automation, analytics, and operational use only.

13.2 Nature of Payments

All amounts paid to the Company constitute **Service Access Fees** for dashboards, APIs, algorithmic tools, VPS add-ons, or similar digital services.

Such payments shall not be treated as:

(a) deposits under the RBI Act, 1934,

(b) securities or investment instruments under the SEBI Act, 1992,

(d) capital contributions or financial instruments under the Companies Act, 2013.

No payment made to MindStocs creates any ownership, financial return, or fiduciary obligation.

13.3 Aggregate Liability Cap

To the maximum extent permitted by law, the Company’s **total cumulative liability**, whether in contract, tort, negligence, or equity, **shall not exceed the total Service Access Fees actually paid by the User in the twelve (12) months preceding the cause of claim**.

This cap applies to all connected claims collectively. Multiple claims shall not expand or multiply the aggregate cap.

13.4 Exclusions of Liability

The Company shall not be liable for any indirect, incidental, special, punitive, or consequential loss, including:

(a) payment gateway or banking delays, outages, or reconciliation failures,

(b) User-side errors such as invalid KYC, wrong credentials, or delayed verification response,

(d) any tax liability arising from GST, TDS, or income reporting,

(e) financial losses due to trading, market movement, broker API execution, or third-party systems.

No liability arises for Force Majeure events under Clause 10 of this Policy or Clause 32 of the Terms & Conditions.

13.5 Legal Carve-Outs

Nothing in this Clause excludes liability where such exclusion is prohibited under Indian law, including:

(a) fraud, wilful misconduct, or gross negligence by the Company,

(b) statutory rights or compensation under the Consumer Protection Act, 2019,

These carve-outs ensure compliance with non-derogable legal protections.

13.6 User Acknowledgement

By purchasing, subscribing, or accessing any MindStocs Service, the User acknowledges that:

(a) the liability limitations are reasonable and form an essential basis of the commercial arrangement,

(b) no tool, model, or software guarantees profit, return, accuracy, or risk-free results,

(c) all disputes shall follow the dispute resolution framework under Clause 42 of the Terms & Conditions, subject to the exclusive jurisdiction of Sindhudurg, Maharashtra, India, without prejudice to statutory consumer remedies.

Continued use of the Services constitutes binding acceptance of this limitation of liability.

13.7 No Class or Representative Actions

To the extent permitted by applicable law, disputes must be brought in the User’s individual capacity and not as a plaintiff or class member in any purported class, collective, or representative proceeding.

14. REGULATORY COMPLIANCE STATEMENT

14.1 Applicable Legal Framework

This Refund & Cancellation Policy (“Policy”) is governed by Indian law and has been drafted in alignment with the following statutory and regulatory frameworks:

(a) Consumer Protection Act, 2019 and Consumer Protection (E-Commerce) Rules, 2020,

(b) Information Technology Act, 2000 and allied Rules on electronic records and digital authentication,

(d) Indian Contract Act, 1872 governing enforceable consideration, service performance, and refund obligations,

(e) Any binding circulars, notifications, or directives issued by competent authorities relating to digital commerce and contractual rights.

14.2 Clarification of Scope

Nothing in this Policy, the Terms & Conditions, the Privacy Policy, or any form of communication shall be construed as:

(a) acceptance of deposits under the Companies Act, 2013,

(b) operation of a Collective Investment Scheme (CIS) under the SEBI Act, 1992,

(d) insurance, protection, or guaranteed-return activity under the IRDAI Act,

(e) classification as a “Reporting Entity” under the Prevention of Money Laundering Act, 2002 (PMLA).

MindStocs is not a SEBI-, RBI-, or IRDAI-regulated financial intermediary and does not pool, manage, or handle investor capital.

14.3 Nature of Payments

All payments made to MindStocs are strictly **Service Access Fees** for digital software, dashboards, APIs, VPS hosting, and related technology services.

Such payments:

(a) do not create escrow, trust, or fiduciary relationships,

(b) are not deposits, securities, pooled funds, or capital investments,

No subscription, license, or access fee shall be treated as a financial product.

14.4 Regulatory Carve-Out

Any illustrations, output examples, or performance demonstrations by the Company are educational and operational in nature. They do not constitute:

(a) financial guarantees or assured returns,

(b) profit, ROI, or risk-free representations,

Such content does not alter the Company’s classification as a software provider and shall not trigger SEBI, RBI, IRDAI, or PMLA jurisdiction.

14.5 Overriding Effect

Wherever a conflict arises between:

(i) this Policy,

(ii) any marketing or promotional communication, or

(iii) any oral, written, or third-party representation,

this Clause shall prevail absolutely.

No employee, agent, affiliate, or reseller is authorised to make statements that override the Company’s legally defined scope, status, or refund terms.

15. DATA PRIVACY IN REFUNDS & CANCELLATIONS

15.1 Applicability of Privacy Policy

All refund, cancellation, or withdrawal requests are processed in accordance with:

(a) the Company’s Privacy Policy,

(b) the Digital Personal Data Protection Act, 2023,

(d) the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.

Processing of personal data under this Clause shall remain lawful, fair, necessary, proportionate, and purpose-specific as required under Section 4 of the DPDP Act, 2023.

15.2 Purpose Limitation

Personal data collected for refunds or cancellations shall be used strictly and exclusively for:

(a) identity and payment verification,

(b) payment reconciliation and GST/TDS compliance,

(d) statutory or regulatory reporting obligations.

No refund-related data shall be used for marketing, profiling, behavioural analytics, or any purpose unrelated to contractual execution or legal compliance.

15.3 Data Retention & Anonymisation

Refund-related personal data shall be retained for the minimum statutory period of seven (7) years, or longer if required for tax, audit, or regulatory proceedings.

Upon expiry, data shall be either:

(a) securely deleted, or

(b) irreversibly anonymised under Section 9(2) of the DPDP Act.

Retention and deletion logs shall be maintained for audit traceability.

15.4 Sensitive Data Handling

MindStocs does not collect or store card numbers, CVV, UPI PINs, net-banking passwords, or OTPs.

All payments and refunds are routed exclusively through tokenised, PCI-DSS compliant, RBI-regulated payment gateways.

Access to refund-related records is strictly role-based and logged for security auditing.

15.5 Disclosures to Authorities

Refund-related data may be shared only upon lawful written direction issued by:

(a) Income Tax or GST authorities,

(b) Consumer Protection Authorities or the Data Protection Board of India,

(d) courts, tribunals, or law enforcement under due process.

All disclosures shall be:

(i) limited to the lawful scope,

(ii) logged internally, and

(iii) reviewed by the Compliance Officer or Data Protection Officer prior to execution.

15.6 User Rights

Under the DPDP Act, 2023, Users retain the following rights with respect to refund-related data:

(a) Right to access and obtain processing summary,

(b) Right to correction or deletion (post expiry of statutory retention),

(d) Right to nominate a representative under Section 14(1)(d).

Requests must be submitted via the official Privacy Contact or privacy@mindstocs.com and will be acknowledged within 48 hours and resolved within 30 days.

15.7 Breach Notification & Accountability

In the event of a personal data breach affecting refund or cancellation data:

(a) CERT-In, the Data Protection Board of India, and affected Users shall be notified within statutory timelines,

(b) containment and forensic audit procedures will be initiated, and

(c) all regulatory reporting obligations will be completed in accordance with Section 8(6) of the DPDP Act and CERT-In Directions (2022).

Breach logs shall be preserved as legally admissible electronic evidence under Section 65B of the Indian Evidence Act, 1872.

16. FORCE MAJEURE FOR REFUNDS & CANCELLATIONS

16.1 Circumstances Beyond Control

The Company shall not be liable for any delay, suspension, interruption, or failure in processing refunds, withdrawals, or cancellations arising from events beyond its reasonable control (“Force Majeure Events”), including but not limited to:

(a) payment gateway or banking network outages, reconciliation failures, or settlement delays;

(b) cyber incidents such as hacking, ransomware, DDoS attacks, malware, or data breaches;

(d) governmental actions, lockdowns, sanctions, embargoes, or currency controls;

(e) regulatory, judicial, or statutory freezes, probes, or enforcement actions;

(f) labour strikes, vendor failure, hosting downtime, or third-party operational disruption affecting service infrastructure.

16.2 Extension of Processing Timelines

All refund and cancellation timelines under this Policy stand automatically extended for the duration of the Force Majeure Event. No delay caused by such event shall constitute breach, default, or service deficiency.

16.3 Notification to Users

If a Force Majeure Event continues for more than seventy-two (72) consecutive hours, the Company shall, where reasonably feasible, notify affected Users via:

(a) registered email,

(b) SMS or in-app notification, or

Such notifications are informational only and do not create new obligations or liabilities.

16.4 No Liability for Delay or Non-Performance

Users acknowledge that disruption caused by a Force Majeure Event shall not:

(a) entitle the User to damages, penalties, interest, or compensation;

(b) trigger automatic cancellation, refund, or waiver of fees;

16.5 Regulatory & Statutory Continuity

Notwithstanding Force Majeure, the Company shall make reasonable efforts to continue essential compliance operations, including:

(a) statutory filings and tax reporting (GST, TDS, Income Tax),

(b) data retention and cybersecurity reporting under the DPDP Act, 2023 and CERT-In Directions (2022),

16.6 Alignment with Terms & Conditions

This Clause shall be read in conjunction with Clause 32 (Force Majeure) of the Terms & Conditions.

Where interpretation differs, the stricter or more compliant reading shall prevail.

16.7 Post-Event Restoration & Record Keeping

Upon cessation of the Force Majeure Event, the Company shall:

(a) resume refund/cancellation processing in a prioritised manner,

(b) maintain internal logs of affected transactions for audit traceability, and

All logs generated under this Clause shall constitute valid electronic evidence under Section 65B of the Indian Evidence Act, 1872.

17. AUDIT & RECORD KEEPING FOR REFUNDS

17.1 Record Maintenance Obligations

The Company shall maintain complete, accurate, and tamper-proof records of all refund, cancellation, and withdrawal requests for compliance, audit, and evidentiary purposes.

Such records shall include:

(a) verified refund or cancellation requests submitted by the User,

(b) payment confirmations, gateway references, and supporting documents,

(d) transaction details including refund amount, deductions, service charges, or offsets,

(e) system-generated timestamps evidencing request receipt, approval, processing, and completion.

All records shall be digitally timestamped, stored in encrypted form, and protected through role-based access controls.

17.2 Statutory Retention Period

Records maintained under this Clause shall be retained for a minimum of seven (7) years, or longer where required under:

(a) Income Tax Act, 1961,

(b) GST Act, 2017,

(d) Companies Act, 2013,

(e) any binding circular or directive issued by RBI, SEBI, IRDAI, FIU-IND, or MCA.

Where legal proceedings or investigations remain pending, records shall be retained until final closure.

17.3 Independent Audit & Compliance Reviews

The Company may conduct internal or external audits to verify:

(a) accuracy of refund and deduction calculations,

(b) adherence to this Policy and statutory frameworks,

(d) compliance with IT, tax, and DPDP obligations.

All audit reports shall be archived and made available to competent regulatory or judicial authorities upon lawful written request.

17.4 Use & Disclosure of Audit Results

Audit findings may be:

(a) shared with regulators or statutory auditors upon written direction,

(b) presented to the Company’s Board or Compliance Committee,

No audit finding creates any independent right of refund or compensation unless expressly mandated under applicable law.

17.5 Confidentiality of Records

All refund and cancellation records are classified as confidential. Disclosure is permitted only to:

(a) regulators, courts, or law enforcement acting under lawful order,

(b) auditors or legal counsel under binding confidentiality agreements,

Every disclosure shall be logged for evidentiary traceability.

17.6 Clarification on PMLA Scope

Nothing in this Clause makes the Company a “Reporting Entity” under the Prevention of Money Laundering Act, 2002 (PMLA).

(a) AML/KYC/STR/CTR obligations remain with RBI-regulated payment gateways and banks.

(b) The Company’s role is limited to lawful cooperation upon written regulatory request.

17.7 Preservation of Legal Rights

This Clause does not create trustee, escrow, fiduciary, or financial-intermediary obligations.

The Company reserves the right to:

(a) contest overbroad or unlawful disclosure requests,

(b) use legal representation for regulatory interaction,

17.8 Evidentiary Validity

All audit logs, records, and system-generated evidence maintained under this Clause shall be treated as valid electronic evidence under Section 65B of the Indian Evidence Act, 1872 and may be produced before any court, tribunal, or regulator as final and binding proof.

18. FINAL DISCLAIMER ON REFUNDS & CANCELLATIONS

18.1 Nature of Services

MindStocs operates strictly as a software and technology service provider.

All amounts paid by the User — whether termed as Service Access Fees, Subscription Charges, or Package Fees — are payments made solely for access to digital dashboards, algorithmic tools, indicators, APIs, VPS facilities, or related software utilities.

Such payments shall not, under any circumstance, be construed as:

(a) deposits,

(b) securities,

(d) pooled funds, or

(e) financial instruments

under any Indian statute including the Companies Act, 2013, SEBI Act, 1992, RBI Act, 1934, or IRDAI Act, 1999.

18.2 Regulatory Clarification

Nothing in this Policy, the Terms & Conditions, the Privacy Policy, or any verbal, digital, or promotional communication shall be interpreted as:

(a) acceptance of deposits under the Companies (Acceptance of Deposits) Rules, 2014,

(b) operation of a Collective Investment Scheme or Portfolio Management Service under SEBI regulations,

(d) performance of banking or prepaid instrument functions under the RBI Act, 1934.

MindStocs is not registered with SEBI, RBI, IRDAI, or FIU-IND and does not act as a broker, investment adviser, fund manager, or custodian of User capital.

18.3 Refunds as Contractual Remedies

All refunds, cancellations, or withdrawals processed under this Policy are contractual remedies only.

They do not constitute:

(a) repayment of deposits,

(b) redemption of securities,

(d) settlement of financial claims.

No assured, fixed, or guaranteed return is offered or implied.

All references to “returns”, “payouts”, or “benefits” in any communication are illustrative only.

18.4 Restoration Fund Disclaimer

The Restoration Fund, if applicable, is a voluntary, conditional, and discretionary benefit.

It does not constitute:

(a) a statutory insurance or investor protection scheme,

(b) a guaranteed capital protection mechanism, or

Eligibility, calculation, and approval remain subject to internal verification, audit review, and available fund balance.

18.5 Legal & Statutory Supremacy

This Policy shall be interpreted strictly in accordance with Indian law.

In case of overlap or conflict:

(a) the stricter legal provision ensuring higher compliance shall prevail, and

(b) mandatory rights under the Consumer Protection Act, 2019 or DPDP Act, 2023 remain unaffected.

18.6 Override Clause

This Clause overrides and supersedes any inconsistent or contradictory statements made in:

(a) marketing, sales, or promotional materials,

(b) verbal or informal communication by unauthorised persons, or

Only this Refund & Cancellation Policy, read with the Terms & Conditions and Privacy Policy, governs all refund rights and financial reversals.

18.7 User Acknowledgement

By purchasing or subscribing to any Service, the User confirms that they:

(a) have read, understood, and accepted this Policy in full,

(b) accept that all payments are non-deposit and non-investment in nature,

(d) agree that all disputes fall under the exclusive jurisdiction of Sindhudurg, Maharashtra, as per Clause 42 of the Terms & Conditions.

18.8 Payment Confirmation Declaration

☑ By proceeding with payment, I confirm that I have read, understood, and agree to the Refund & Cancellation Policy, Terms & Conditions, and Privacy Policy.

This declaration forms a valid and binding electronic contract under Section 10 of the Indian Contract Act, 1872 and the Information Technology Act, 2000.

18.9 Severability

If any provision of this Policy is held invalid or unenforceable, the remaining provisions remain in full force to the maximum extent permitted by law.

18.10 No Waiver

Failure to enforce any provision does not constitute a waiver of that or any other provision.

18.11 Entire Agreement

This Policy, read with the Terms & Conditions and Privacy Policy, constitutes the entire agreement on refunds and cancellations and supersedes inconsistent prior communications.

19. Beta / Experimental Features

19.1 The Company may, at its discretion, provide Users with access to beta, pre-release, prototype, or experimental versions of dashboards, indicators, APIs, VPS utilities, or other software modules (“Beta Features”).

19.2 Beta Features are provided strictly on an “as-is” and “as-available” basis, without any warranty, uptime commitment, accuracy guarantee, or performance assurance.

19.3 Beta Features may be modified, restricted, or discontinued by the Company at any time without notice, and such modification or discontinuation shall not create any refund, compensation, or service credit entitlement.

19.4 Feedback, suggestions, bug reports, or performance observations voluntarily submitted by Users may be used by the Company for research, product improvement, commercial deployment, or documentation purposes, without any obligation of attribution, compensation, or acknowledgment to the User.

19.5 Access to Beta Features does not form part of the paid Service Access Fee, and no refund shall arise from withdrawal, malfunction, instability, or removal of any Beta Feature.

20. Support & SLA Boundaries

20.1 Any uptime percentage, response-time commitment, or ticket-resolution expectation published by the Company (whether on the website, dashboard, or documentation) is a service objective only and shall not be construed as a legally enforceable financial warranty.

20.2 Verified deviations from support timelines or uptime targets may, at the Company’s discretion, result in non-monetary service credits only. Such credits:

(a) are not convertible to cash or refunds,

(b) cannot be transferred or offset against future invoices,

20.3 No refund, compensation, or liability shall arise from:

(a) delays in ticket response caused by high support volume, holidays, force majeure, or third-party outages;

(b) issues caused by User-side factors including brokers, VPS vendors, internet providers, APIs, or hardware devices;

20.4 Support is provided exclusively through officially published channels. Requests made through WhatsApp, social media, personal messages, or third-party intermediaries shall not be considered valid.

20.5 Service-level expectations do not extend to:

(a) custom coding, strategy modification, or logic changes,

(b) analysis of User trading results or market outcomes,

20.6 Nothing in this Clause creates a financial, fiduciary, or advisory obligation. Support is a goodwill and operational function, not a contractual guarantee of refund, profit, uptime, or performance.