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Terms & Conditions

[These Terms & Conditions were last modified on 09-09-2015]

This Terms of Use is an electronic record under the terms of Information Technology Act, 2000 ("IT Act") and rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the IT Act. This electronic record is generated by a computer system and does not require any physical or digital signatures. This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and Terms of Use for access or usage of www.loanxpress.com website ("Website").

It is strongly recommended that the User, before proceeding with the use of this website or submitting any personal or financial details or before availing any services provided through this website, should read carefully the following 'Terms of Use' of this website, as detailed hereinbelow, understand the implications of each of the said clauses and agree and accept to each of the said clauses. The User's use of this Website shall be governed by the provisions of this document as applicable to the Website.

In using this Website, the User shall be deemed to have read and agreed to the following Terms of Use, in its entirety.

Vermillion Finalytics Private Limited, a company incorporated under the Companies Act, with its registered office at, India (hereinafter referred to as "Vermillion") is the licensed owner of the domain name www.loanxpress.com, the content of this Website - which shall include but not limited to design, layout, text, images, graphics, sound, video etc.

This 'Terms of Use' document shall be treated parallel to an agreement between Vermillion and the User, under all the applicable laws of India, and by clicking on the "I Agree" and the "Submit" button below, it will be understood that the User has agreed and accepted all the provisions and terms and conditions laid down hereinbelow in this document and has further agreed to be bound by the provisions of the same in future, in the same manner as that of a legally executed contract under the terms of the Indian Contract Act, 1872. Further, for all practical and legal purposes, the User's clicking on the "I Agree" and the "Submit" button below shall be treated akin to placing of his signature on an agreement expressing his consent towards the same. Thereafter, in the event the User uses this website or its services or transacts through this Website, this 'Terms of Use' document, as may be amended from time to time, shall have the effect of a legally valid binding contract between Vermillion and the User in the eyes of all the applicable laws in India.

All the information (in written or any other form) provided on this Website has been made available to the User, solely for the purposes of his information. By relying on the said information, and/or making use of the software and/or availing the products/services offered on this website ("Services"), the User agrees that he/ she is availing the Services offered by Vermillion and hence he/she will be bound by the Terms of Use contained hereinbelow.

By clicking on "I Agree" and clicking on "Submit" button below, the User expressly agrees with, and acknowledges to Vermillion, the following terms and conditions:

  1. Interpretation
    • The headings are used for convenience and ease of reference and shall not affect the construction or interpretation of any provision of this Terms of Use;
    • Reference to the singular includes a reference to the plural and vice-versa, and reference to any gender includes a reference to the other gender;
    • Reference to an individual shall include his/ her personal representative;
    • References to any enactment are to be construed as referring also to any amendment or re-enactment, any previous enactment that such enactment has replaced (with or without amendment) and to any regulation or order made under it;
    • Reference to any statute or regulation made using a commonly used abbreviation shall be construed as a reference to the short title of the statute or full title of the regulation.
  2. User Eligibility
    • Under these Terms of Use, only such persons may use this Website and the services available on this Website who are eligible to enter into a contract under the provisions of the Indian Contract Act, 1872. Therefore, minors, undischarged insolvents and/or such others, are hereby barred from using this Website. If any minor wishes to use this Website then that shall be done by his/her parents or legal guardian.
  3. User Information
    • The User wishes to gain, for his own use, more information about Vermillion and its services/ products offered through this Website, and also the other information regarding the market practices, policies, opinions/ statements of experts etc., incidental to the services offered through this Website.
    • The User wishes to gain, for his own use, more information about Vermillion and its services/ products offered through this Website, and also the other information regarding the market practices, policies, opinions/ statements of experts etc., incidental to the Services offered through this Website.
    • All personal information entered by the User in using this website and while registering in the Website is done voluntarily.
    • Subsequent to registration, all personal as well as financial and professional information entered by the User while making a loan application through this Website and while enquiring for the products/ services available therein is done voluntarily.
    • In using the Website, the User shall be responsible for maintaining the confidentiality of his/her Login details and Password and the User shall be responsible for all activities that occur under his/her Login details and Password. The User agrees that if any of the information provided during registration or application for loan on this website is or discovered at a later date to be untrue, inaccurate or incomplete or Vermillion has reasonable grounds to suspect that such information is untrue, inaccurate or incomplete, or not in accordance with this Terms of Use, then Vermillion shall have the right to indefinitely suspend or terminate or block access of that User to this Website.
  4. Communication
    • In using this website, the User does understand and agree that he/she is actually communicating with Vermillion though electronic records and therefore grants consent to the fact that the User may receive communications via electronic media from Vermillion periodically.
  5. Scope
  6. Though this Website, Vermillion provides the services to its Users, the main scope of which is to arrange for financial assistance from Indian lenders viz. Indian banks and financial institutions ("creditors") in the form of term loan in Indian Rupees between Rs. -- crores upto Rs. -- crores. The scope of the services hereunder shall also include

    • Assisting the User in preparing application to creditors and arranging meetings of the senior executives of the creditors with the User or its duly authorized representatives and ascertaining preliminary interest in taking up the proposal for financial assistance;
    • Assisting the User in arranging road shows for the prospective creditors and in making a detailed presentation to these creditors on the project;
    • Following up on applications made to creditors and assisting in presentation of data/information and clarifying any queries that may be raised by the creditors; and
    • Obtaining sanction letters (Letters of Intent/In-principle approvals) from creditors upto an amount of Rs. - crores
    • In using the Website, the User shall be responsible for maintaining the confidentiality of his/her Login details and Password and the User shall be responsible for all activities that occur under his/her Login details and Password. The User agrees that if any of the information provided during registration or application for loan on this website is or discovered at a later date to be untrue, inaccurate or incomplete or Vermillion has reasonable grounds to suspect that such information is untrue, inaccurate or incomplete, or not in accordance with this Terms of Use, then Vermillion shall have the right to indefinitely suspend or terminate or block access of that User to this Website.

    Vermillion may, in its sole discretion and on a case to case basis, provide the User with communications in electronic mode with the notifications for EMI (equated monthly installments) payable to the creditor and the due dates, after the loan facility has been disbursed to the User by the creditor. This particular facility will be provided to the User, without any consideration

  7. Fees
    • In lieu of the aforesaid services as specified hereinabove under the clause - Scope, Vermillion will be entitled to a Facility Fee from the User, as mentioned hereunder:
    • Service Fees % 1% of loan amount
    • 50% of the applicable fees shall become due and payable to Vermillion at the time of issuance of sanction letters by the creditors. The remaining fee will be due and payable to Vermillion on completion of documentation of the above facilities to the User.
    • The fees as stated above shall be paid by the User to Vermillion within 15 days of Vermillion raising an invoice vide the medium of payment as may be communicated by Vermillion.
    • All sums payable to Vermillion hereunder shall be paid in full without withholding or deduction for or on account of any taxes, duties, assessments or governmental charges of any nature unless such withholding or deduction is required by law, in which event the User will immediately pay to Vermillion such additional amounts as would have been received by it had no such withholding or deduction had been required. It is made explicit that the User is liable for the payment of all present and future taxes, levies and duties with respect to the proposed transaction, including service tax. In the event of Vermillion being called upon to make any payment with respect to the same by any regulatory authority, the User shall reimburse such paid amounts to Vermillion.
    • Any tax deducted at source (TDS) by the User under the Income Tax Act, 1961 shall be supported by a suitable TDS certificate to be forwarded by the User to Vermillion within a month of deduction.
    • The User shall also reimburse to Vermillion, all expenses incurred by Vermillion with respect to the proposed transaction, as and when incurred by Vermillion, including travelling, lodging and office expenses.
  8. Authorization to Vermillion
    • The User authorizes Vermillion that once a loan application has been made through this Website to deal with creditors directly for the purposes of the Letter of Engagement for finalizing the model for loan syndication. The User confirms that any action taken by Vermillion in this regard and any communication made by Vermillion to creditors shall be binding upon the User. Once Vermillion has commenced the process of negotiation with the creditors, the User shall not convey to such creditors any views and processes contrary to Vermillion's stand and opinion.
    • The User authorizes Vermillion to make the necessary rectifications to the loan applications, if any made, without informing the User, in order to ensure that they are not declined by the creditors due to clerical and minor errors
  9. Limitation of Responsibility
    • The duties and responsibilities of Vermillion under the services rendered through this Website i.e. to arrange for financial assistance for the Users, shall be limited to those expressly set out under the clause - Scope, and without limiting the generality of the foregoing, shall not include the following:
    • giving legal, accounting, tax or other specialist or technical advice or services other than as expressly set out hereinabove; or giving advice on any aspects relating to regulatory requirements in India or elsewhere; or
    • performing commercial due diligence in connection with the proposed transaction or on assessing the commercial merits of the proposed transaction.
    • Further, Vermillion assumes no liability for the interpretation and/or use of the information contained or referred to on this Website by the User, nor does it offer warranty of any kind, either expressed or implied, in this regard
    • It is expressly stated herein that Vermillion (including its officers, directors, employees, representatives, affiliates etc.) will not be responsible or liable for (a) any injury, death, loss, claim, act of god, accident, delay, or any direct, special, exemplary, punitive, indirect, incidental or consequential damages of any kind (including without limitation to loss of income/ profit), whether arising under contract or otherwise, that arise out of or is in any way connected with (i) any failure or delay (including without limitation to the use of or inability to use any component of the Website), or (ii) any use of the Website or content, or (iii) the performance or non-performance by us or any provider, even if we have been advised of the possibility of damages to such parties or any other party, or (b) any damages to or viruses that may infect the User's computer equipment or other equipment as the result of the User's access to the Website.
  10. Representations, Warranties and Covenants by Vermillion
    • The contents of this Website are a resource for general information purposes only. Vermillion makes no endorsement of, is not responsible for and makes no representations or warranties with respect to hyperlinks from this website to other information/ websites/ entities. The contents of this website is intended, but not warranted, promised or guaranteed, to be accurate, complete and up-to-date. It is strictly recommended by Vermillion that the contents of this website shall not be construed to be in the nature of any financial or professional opinion and no part of the contents on this website should be relied upon by any person without seeking necessary professional advice in this regard. Vermillion expressly disclaims any liability for any act or omission or any consequence of any act or omission by the User relying on any material or information provided in this Website.
    • In furtherance to the above, the contents of this Website and the services specified herein are provided on an "as is" and "as available" basis. Vermillion expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, title, non-infringement, security and accuracy, as well as all warranties arising by usage of trade, course of dealing, or course of performance. Vermillion makes no warranty and expressly disclaims all and any obligations that: (a) the website content will be up-to-date, complete, comprehensive, accurate or applicable to the User's circumstances; (b) this Website will meet the User's requirements or will be available on an uninterrupted, timely, secure or error-free basis; (c) the results that may be obtained from the use of this Website or any services offered through the Website will be accurate; or (d) the quality of any products, services, information, or other material obtained by the User through this Website will meet the expectations of the User.
    • The display on this Website of any products offered by any third party shall not under any circumstances be construed to be an advice/ recommendation/ approval of Vermillion to avail any of these third party products nor does Vermillion extend any advice to the User about such products.
    • Vermillion neither guarantees nor warrants that the User will be sanctioned credit facilities on the basis of his/her application through this Website and therefore accepts no responsibility or liability in the event the User is unable to avail the credit facility that he has applied for.
  11. Representations, Warranties and Covenants by the User
    • The User represents and warrants that he/she is legally entitled to enter into and execute a contract and is not disqualified from entering into a contract under the provisions of the Indian Contract Act, 1872.
    • There exists no contract, commitments or agreements of any nature which may conflict in interest of the User with this Terms of Use.
    • That this 'Terms of Use' document shall be treated parallel to an agreement between Vermillion and the User, under all the applicable laws of India, and by clicking on the "I Agree" and the "Submit" button below, the User has agreed to all the provisions of this Terms of Use in its entirety.
    • That the User's clicking on the "I Agree" and the "Submit" button below shall be treated akin to placing of his signature on an agreement thereby creating legally binding obligations on the User in terms of the provisions of this Terms of Use.
  12. Obligations of the User
    • The accuracy of the data and information provided by the User to Vermillion for the registration and in the loan application in the Website shall be the sole responsibility of the User.
    • The User agrees that all such data entered into in this Website shall be subject to the mandatory verification process of Vermillion.
    • The User will ensure compliance with all instructions given by Vermillion from time to time to enable the use of the Services.
    • The User shall be solely responsible for all information retrieved, stored and transmitted through the Website by him.
    • The User shall keep confidential and not disclose to any person the User's password and any other login details and all activities and transmission performed by the User through his user login details.
    • The User shall immediately notify Vermillion of any un-authorized use of the User's account or any other breach of security as soon as it comes to the knowledge of the User.
    • The User shall promptly make payment of all the fees which is payable for the Services rendered by Vermillion as per the agreed terms hereunder.
    • The User agrees that any data entered in this Website can and shall be saved, used and commercially exploited by Vermillion as it may deem fit.
  13. Prohibited Actions
    • User is restrained from allowing any person other than the authorized person(s) to access the Website or his account on his behalf.
    • The User undertakes not to resell or assign his/her rights or obligations under these Terms of Use and also agrees not to make any unauthorized commercial use of the services rendered hereunder.
    • The User shall comply with all applicable laws and shall not contravene any applicable laws of India relating to the Services as applicable hereunder.
    • The User shall not to print, download, duplicate or otherwise copy, delete, vary or amend or use any data or personal information posted by any other user on this Website except such data and information which is posted by the particular User himself.
    • The User shall not share the Services with any person without the prior written approval of Vermillion.
    • The User shall not use the Service for any unlawful purpose including without limitation to criminal purposes.
    • The User shall not infringe any intellectual property rights of Vermillion in this Website and/or retain information in any computer system or otherwise with an intention to do so.
    • The User hereby grants to Vermillion a non-exclusive, worldwide, royalty-free, irrevocable, sub-license able right to exercise all copyright and publicity rights, in any existing or future media, known or unknown, over the information provided by the User in this Website. Such information shall be deemed to be the property of Vermillion and the User shall take all reasonable steps that the same is accurate, complete and is not misleading.
    • The User shall be prohibited to introduce, post or transmit any information or software, which contains a virus, worm or other harmful component into the internet or loanexpress.com network system.
    • In the event that the User breaches any of the above mentioned covenants, Vermillion shall have the right to delete any material relating to the violations. Vermillion reserves the unilateral right to suspend or/and deactivate the User's access to loanexpress.com and/or any other related facility in case of violation of these Terms of Use.
  14. Confidentiality
    • All opinions, advice and materials provided by Vermillion during the course of rendering the Services to the User shall be classified by the User as confidential information and shall not be disclosed by the User to any third party, whether connected to the proposed transaction or otherwise, without the specific consent of Vermillion, unless such disclosure is mandated by the order of a regulatory, statutory or judicial authority.
    • Any advice or opinions provided by Vermillion under or pursuant to this engagement and the terms of this engagement shall not be disclosed or referred to publicly or to any third party, except in accordance with the prior written consent of Vermillion.
    • Vermillion shall also not disclose any information pertaining to the proposed transaction which has been made available to it by the User unless such disclosure is mandated by the order of a regulatory, statutory or judicial authority.
    • The obligations of confidentiality given herein shall survive the termination of the Letter of Engagement which may be entered into between the User and Vermillion
  15. Limitation of Liability
    • The User expressly agrees that in the event of any dispute in future between any creditor or third party with the User in relation to the use of the Website, directly or indirectly, the User shall not proceed with any legal action against Vermillion and neither shall the User involve Vermillion in any such dispute. Vermillion shall not be held liable and responsible for any dispute arising between the User and any creditor or any third party in relation to any credit facilities provided by the creditor or any incidental lending services and activities of the creditor. The User hereby agrees and accepts that in the event of any dispute arising between him/her and the creditor (from whom a loan has been availed through this Website) at any time in future, Vermillion shall not be liable in any manner for such dispute and therefore, shall not be made a party to any legal proceeding, in future, if any, by the User.
  16. Indemnifications and Liability
    • The User agrees and undertakes to indemnify and keep indemnified Vermillion and its directors, officers and personnel against all liabilities, costs, expenses (including legal fees), damages and losses suffered or incurred by Vermillion (or its directors, officers and personnel) arising out of:

    • any misrepresentation/ misuse of Services or website content/ incorrect reporting of information by the User on the Website,.
    • any breach by the User of any of the provisions of this Terms of Use or failure to perform any of its obligations under this Terms of Use,
    • any claim made against Vermillion in connection with any of the acts or omissions of the User,
    • gross negligence, wilful misconduct, misbehaviour or criminal acts of the User or any of its representatives.
  17. Maintenance
    • Vermillion may at its sole discretion and without assigning any reason whatsoever at any time deactivate or/and suspend the User's access to the Website and/or the Services (as the case may be) without notice to carry out system maintenance/upgrading/testing/repairs/other related work. Without prejudice to any other provisions of this Terms of Use, Vermillion shall not be liable for any loss/damage/costs/expense that the User may suffer or incur in this regard, and no fees/ charges payable by the User to Vermillion shall be deducted or refunded or rebated, as a result of such deactivation or/and suspension.
  18. Trademark
    • All the icons and logos in this website are registered trademarks or trademarks or service marks of Vermillion in various jurisdictions and are protected under applicable copyright, trademark and other proprietary rights laws. The unauthorized copying, modification, use or publication of these marks is strictly prohibited and shall make the offender liable under all the applicable laws.
    • Copyright
    • All content on this Website is the copyright of Vermillion except the third party content and links to third party website on the Website.
    • Any systematic retrieval of Vermillion content to create or compile a collection, compilation, database or directory without the express written permission from Vermillion is strictly prohibited.
    • In addition, use of the content for any purpose not expressly permitted under this Terms of Use is prohibited and may result in legal action. As a condition of the User's access to and use of the Services, the User agree that he/she will not use the Website to infringe the intellectual property rights of others in any way. Vermillion reserves the right to terminate the account of a User(s) upon any infringement of the rights of others in conjunction with use of the Website, or if Vermillion believes that user(s) conduct is harmful to the interests of Vermillion, its affiliates, or other users, or for any other reason in its sole discretion, with or without cause.
  19. Intellectual Property Rights
    • Vermillion being the sole licensed owner of the Website, the domain name and its content which includes without limitation to design, layout, text, images, graphics, sound, video etc., and therefore is the owner of all the intellectual property rights and the related rights, as the case may be. All rights not otherwise claimed under this Terms of Use or by www.loanxpress.com, are hereby reserved.
    • The User has no right to use or copy any of the trade names, trademarks, service marks, logos, domain names, designs or any other distinctive brand features of Vermillion or of any other person as may be displayed on this website or which is linked to, through this website.
  20. Suspension of User
    • The User expressly agrees and accepts that in the event the User breaches any of the provisions of the Terms of Use including but not limited to non-payment of fees to Vermillion, violating any of the provisions of the applicable laws of India etc., Vermillion shall have the exclusive right to suspend, terminate or restrict the access of the User to the Website for any indefinite time in future, as it may deem fit. It is further agreed by the User that, under such circumstances, Vermillion shall be entitled to enter the name of the User, alongwith other details, in its database/ register of "DEFAULTERS", which may, at a later date, be published and shared with creditors or other industry professionals for their reference and records. It is further stated that the aforesaid measure by Vermillion shall be without prejudice to all the civil and criminal remedies whichare available with Vermillion under the applicable laws herein.
  21. Unsolicited Information
    • The User agrees and accepts that it has not received any unsolicited invitation or advice or invitation from Vermillion or any of its members or authorized representatives to view this Website.
    • In theevent the User has received an unsolicited invitation from Vermillion, its members or authorized representatives to view this Website, please provide details about such invitation, including the reference of the person(s) who has made such invitation, by sending an email to [.].
  22. Privacy Policy
    • All the information provided on this Website is governed by Vermillion's 'Privacy Policy', which is also available on this Website. By using this Website, you consent to the use of your information as outlined in the Privacy Policy available on this Website.
  23. Governing Law and Jurisdiction
    • The User expressly agrees and accepts that this Terms of Use, the use of this Website and/or the Services shall be governed by and construed in accordance with all the applicable laws of India and all disputes whichmay arise in this regard shall be submitted to the exclusive jurisdiction of the courts at Mumbai.
  24. Amendment
    • Vermillion being the licensed owner of this Website, domain name, the contents and other intellectual property connected with the Website, may at its sole discretion, at any time in future, add, alter, edit, modify or amend any of the provisions of the Terms of Use, without issuing any notice to any User, and the said modified/ amended Terms of Use shall apply and be legally binding on the User in the same manner and having the same effect as the previous or unaltered provisions of the Terms of Use.
  25. Restriction
    • Vermillion herein retains the exclusive right to restrict the access of any User to this Website and any of the Services in the event of the User breaching any of the provisions of the Terms of Use or otherwise, if deemed fit by Vermillion.
  26. Waiver
    • Save and except as expressly provided in this Terms of Use, no exercise, or failure to exercise, or delay in exercising any right, power or remedy vested in this Terms of Use shall constitute a waiver by Vermillion of that or any other right, remedy or power.

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