Terms & Conditions
The Kanak Kumbh – Smart Jewellery Purchase Plan (hereinafter “Kanak Kumbh” or the “Plan”) offered by Kanakpura Jewellers Private Limited (“Kanakpura”/the “Company”) facilitates Customers to purchase our jewellery by making payments for the same over a eleven month period and the Customers will be entitled to avail certain discounts subject to these Terms and Conditions.
Under this Plan, the Customer has to pay 11 (Eleven) fixed monthly instalments of a minimum of Rs. 1,000/- (Rupees One Thousand) or above (in multiples of one thousand). During the course of the 11 (Eleven) months, the Customer has to pay one instalment every month. More than one instalment in a single month will not be accepted.
Customers have to make the payment of the instalment on the Due Date. For the purpose of this Plan, the Due Date shall be the same date as the Enrolment Date for the subsequent months. However, the Customer shall be provided with a grace period of 7 (Seven) days in a month for payment of the instalment. In the event the Customer fails to pay the instalment within the grace period, the proportionate discount as offered herein shall be reduced.
The Plan will mature after 366 (Three Hundred and Sixty Six) days from the Enrolment Date and the Customers will be eligible to redeem by purchase of jewellery from the Company at the Kanakpura store. For the purpose of this Plan, the date of payment of first instalment shall be deemed as the Enrolment Date. The Customer is mandatorily required to redeem his/her account before the completion of 400 days from the Enrolment Date.
The Customers would be eligible for a discount of 100% (One Hundreed percent) of one month’s instalment upon redemption, after the completion of 366 days from the Enrolment Date subject to the Customers having made the payment of all eleven monthly instalments. If a Customer redeems before the completion of 366 (three hundred and sixty six) days but after the completion of 300 (Three Hundred) days, the Customer will be eligible for a discount ranging between 60% (Fifty Five percent) to 80% (Seventy Five percent) of one month instalment based on the number of days, and subject to the Customers having made the payment of all eleven monthly instalments. For redemption after completion of 180 (One Hundred and Eighty) days but before completion of 330 (Three Hundred Thirty) days, Customer will be eligible for such prorated discount calculated based on the one month instalment, the number of days and the number of monthly instalments paid.
The Customer will have the option to pre-close the Plan only if the Customer has paid a minimum of six monthly instalments and after completion of 180 days from the Enrolment Date. In the event of such pre-closure, a customer may purchase jewellery at the Kanakpura Store equal to the value of the instalments accumulated in his/her account as on that day. Alternatively, Customer may seek refund of the amount aggregating to the instalments paid by the Customer until the date of refund.
In case the Customer does not redeem within 400 days, he/she will be refunded with the aggregate instalment amount paid by the Customer until the date of the refund. A discount voucher for the applicable discount amount will be provided which can be utilised only to purchase jewellery from the Company of a value that is equal to or greater than the full value of instalments paid.
The Customer is required to provide a copy of his/her photo identity and address proof documents like Driving License/Voter ID/ Passport /Ration Card/PAN Card/any other document issued by the Government, bank account details, etc. at the time of enrolment.
The Company or the Kanakpura store will not be responsible or liable to send reminders for payments.
In addition to the gold and stone charges, all jewellery purchased under the Kanak Kumbh will be subject to making charges, wastage charges, material charges, Goods and Services Tax, or any other surcharges, levies as may be applicable/ prevailing at the time of purchase.
The Customer will have to purchase the jewellery for the total instalment amount paid and partial purchase is not allowed.
The Customer may appoint a nominee at the time of enrolment upon submission of relevant documentation. In the event of death of the account holder, the amount is transferable by the Company only to the person(s) whose nomination has been filled by the account holder in the Enrolment Form at the time of opening the account subject to such nominee producing identity and address proof. In case the account holder does not nominate any person, any claim(s) made by any other person(s) on behalf of the account holder will not be entertained unless such person being a legal heir/duly authorised person claiming the benefits under the Plan, shall produce below documents to the Company:
Death certificate of the deceased.
Succession Certificate.
NOC from other surviving legal heir for redemption.
Indemnity undertaking to indemnify Kanakpura from claims.
Will (if any)
Along with all other supporting documents and clarifications
However, the decision of the Company shall be final on sufficiency of any document in all such cases above and the same shall be binding upon the claimants.
The Company is the operator of this Plan and reserves the right to suspend the Plan at any time. In any such event, the account holder may purchase any item at the Kanakpura Store equal to the value of the instalments accumulated in his/her Kanak Kumbh account along with discounts accumulated, as on that day.
In case of any change in existing laws, rules, Acts, etc. by any regulatory authority, the Company reserves the right to make such modifications/change/suspend/discontinue the Plan suitable to the change of law and necessary requirements as per the same have to be complied with by the account holder.
Disputes if any will be subject to the Courts in Ahmedabad jurisdiction only, to the exclusion of any other court’s jurisdiction.