Welcome to www.chitmonks.in (“Website”)/the ChitMonks Mobile Application (“App”). This Website/App is owned and
operated by Pangean Global Services Private Limited (“Company”).
The Company wished to reimagine certain specific issues in relation to the chit fund industry and provide a tool to
assist depositors in a chit fund to calculate the cost of money availed and returns on money deposited by them. In
furtherance to this objective the Company developed the Website/App as an online platform which provides information
in relation to chit funds and predicts trends of chit funds registered under the Chit Funds Act, 1982 (“Chit Funds”)
by various chit fund companies (“Agencies”) and enables individuals to organize their chit funds. The term Agency
shall include a chit fund company’s agents and foreman.
“User” means any person who accesses or uses the Website/App or the Services. “Services” includes access to Our
mobile application (“App”), any upgrades of the App, Our call and SMS based services, databases, Interactive Voice
Response services and all other services and functionalities that We provide through the Website/App or Your mobile
Every effort has been made to ensure, that the information contained on the Site is correct, however We make no
warranty as the accuracy, comprehensiveness, or correctness of any Service(s) or a Product(s) on the Site, and
provide all Service(s) and Product(s) on an “as is” basis. By accessing or using this Website/App or the Services,
please refrain from using the Website or App.
You acknowledge that although the internet is often a secure environment, sometimes there are interruptions in
service or events that are beyond Our control, and We shall not be responsible for any data lost while transmitting
information on the internet. While it is Our objective to make the Website/App accessible 24 hours per day, 7 days
per week, the Website/App may be unavailable from time to time for any reason including, without limitation, routine
maintenance. You understand and acknowledge that due to circumstances both within and outside Our control, access to
the Website/App may be interrupted, suspended or terminated from time to time. We shall have the right to change or
discontinue any aspect or feature of the Company, including, but not limited to, content, hours of availability and
equipment needed for access or use at any time. Further, We may discontinue disseminating any portion of information
or category of information, may change or eliminate any transmission method and may change transmission speeds or
other signal characteristics.
without prior notification to You. Your continuing to use the Website/App or Services following the changes shall be
construed as Your acceptance of all such changes.
3.Access to the Website/App and Services
You may access the Website/App and the Services only if You are 18 years of age or older and are legally capable of
entering into a binding contract as per applicable law, including, in particular, the Indian Contract Act, 1872.
You may use the Services through Our Website/App. Upon entering the Website or downloading the App, You may provide
with Your details including Your name, address, contact number, email address and Your chit funds (“User
We may provide this information to Agencies of Your choice, which are selected by You while enrolling Yourself as a
After obtaining this information, (i) You may manage Your existing chit funds, or (ii) review a list of available
Funds and Our analysis of the Chit Funds (based on the Agency’s approval), including its past performance, on the
Website/App. We may contact You to discuss Your requirements for Chit Funds, and suggest available Chit Funds, upon
which You may choose to subscribe to a Chit Fund (“Transaction”). Any Transaction between You and the Chit Fund will
governed by the terms of the Agency.
Alternatively, You may provide Us with Your mobile phone number on the Website. We will then contact You, collect
User Information and follow the procedure described in Clause 4.2 above.
By providing Us with Your User Information, You confirm that:
The User Information provided by You is accurate and genuine;
The mobile phone number provided by You belongs to you, has been validly acquired under applicable law, and You may
contacted on the number by way of calls or SMS messages by Us or Agency;
You are interested in availing the Services provided by Us;
We may contact You either electronically or over the telephone to understand Your interest in the Services and to
fulfill Your demand; and
You shall immediately notify Us of any un-authorized use of Your User Information or any other breach of these Terms
Use or security known to You.
Further, You authorize Us to:
Collect, process and store User Information and access information including the IP address, IMEI number and MAC
of the computer/device from where the Website/App were accessed;
Either directly, or through third parties, verify and confirm Your User Information;
Send You promotional materials and/or special offers;
Communicate with You by email or by phone or usually available means of communication;
Contact You using Your User Information, including for marketing and promotional calls; and
Share Your User Information with Agencies who may use the same to contact You, including on Your mobile phone.
privilege to access and use this Website/App and the Services.
The use of the Website/App and Services is free of cost. However, this no charge policy can be amended at Our
discretion and We reserve the right to charge for any of the Services.
6.Use of the Website/App and Services
You agree to make use of the Website/App and Services for their intended purpose in a bona fide manner. In
particular You agree not to:
print, distribute, share, download, duplicate or otherwise copy, delete, vary or amend or use any data or User Information of any User other than You;
infringe on any intellectual property rights of any person and/or retain information in any computer system or otherwise with an intention to do so;
attempt to gain unauthorized access to any portion or feature of the Website/App, or any other systems or networks connected to the Website/App or to any server, computer, network, or to any of the Services by hacking, password “mining” or any other illegitimate means;
probe, scan or test the vulnerability of the Website/App or Services or any network connected to the Website/App or Services or breach the security or authentication measures on the Website/App or any network connected to the Website/App or Services;
use any automated systems to extract data from the Website/App;
make any inaccurate, false, unfair or defamatory statement(s) or comment(s) about Us or the brand name or domain name used by Us, any Provider or any User on the Website/App;
take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Website/App or Our systems or networks, or any systems or networks connected to Us;
use the Website/App or its contents for any commercial purpose;
make any speculative, false, or fraudulent transaction or any transaction in anticipation of demand;
take any action that imposes, or may impose, in Our discretion, an unreasonable or disproportionately large load on Our infrastructure;
link to any portion of this Site for any purpose without Our express written permission;
“frame”, “mirror” or otherwise incorporate any part of this Site into any other website without Our prior written authorization; or
circumvent or manipulate the Website/App, Services, registration process, fees, billing system, or attempt to do so.
You further agree not to host, display, upload, modify, publish, transmit, update, share or otherwise make available
on the Website/App any information, that:
contains content or other material protected by intellectual property laws unless You own or control the rights thereto or have received all necessary consents;
defames, abuses, harasses, stalks, hurts religious or ethnic sentiments of, threatens or otherwise violates the legal rights of others;
is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;
harms minors in any way;
infringes any patent, trademark, copyright or other proprietary rights;
violates any law for the time being in force;
deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
abets or assists with impersonating another person;
contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource;
uses any other internet service to send or post spam to drive visitors to any other site hosted on or through the Company’s systems, whether or not the messages were originated by You, under Your direction, or by or under the direction of a related or unrelated third party; or
The intellectual property in the Website/App, and in the material, content and information made available on the Website/App including graphics, images, photographs, logos, trademarks, the appearance, organisation and layout of the Website/App and the underlying software code belong to Us or Our licensors.
You shall not copy, modify, alter, publish, broadcast, distribute, sell or transfer (whether in whole or in part) any such material. The information provided on the Website/App and through the Services is for Your personal use only.
9.Feedback, Reputation and Reviews
You agree to be fair, accurate and non disparaging while leaving comments, feedback, testimonials and reviews (“Feedback”) on or about the Website/App or the Services, You acknowledge that You transfer all rights in such Feedback to Us and that We will be free to use the same as We may find appropriate.
The Website/App is a platform which provides Users information about Chit Funds and any transactions between You and any Agency are strictly bi-partite. We are not and cannot be a party to, or control in any manner, any Transaction between You and any Agency. We shall not and are not required to mediate or resolve any disputes or disagreements between the You and any Agency.
Accordingly, We will not be liable for any loss or damage incurred as the result of any such transaction. While interacting with any Agency found through the Website/App or through the Services, We strongly encourage You to exercise reasonable diligence as You would in traditional off line channels and practice judgment and common sense before committing to any Transaction or exchange of information.
Our employees, partners and other staff are not accountable for any loss, harm or damage that occurs or may occur or arises from the usage of information from the Website/App by You. You are advised to use Your own discretion in such matters.
You understand that the Company is only a facilitator which helps You interact with the Agencies and the Company is in no way liable to any losses suffered on account of You entering into a contract or an agreement with the Agencies listed on the App and Website.
The Company also provides access to a tool which enables You to keep track of Your deposits in various chit funds which You may have invested in. While the Company has taken care to make this tool free from all errors this tool which is accessible by You through the App and the Website it shall in no way be held liable for any losses suffered by You on account of You relying on the said tool for making You investment decisions.
You understand that the Company is neither a financial institution, nor is it a Chit Fund and the interest rates of the Chit Funds mentioned in the App and Website are only indicative based on a predictive analytic alogrithm driven by user provided information. Neither does the Company promise such returns nor does it guarantee any returns promised by any of the Agencies.
You understand that the Company only provides the tool which aids in calculating interest rates based on the information provided by You and the Agency and the Company shall not be held liable for any change in the eventual rate of return on the monies deposited in the Chit Fund. The interest rates calculated by the Company’s tools and mentioned on the Website/App may vary based on the groups involved and the performance of each individual chit and the Company is not liable for any losses suffered on account of You relying on the information generated by the App or the Website on the basis of information provided by You.
You understand that there is no guarantee of a satisfactory response or any response at all to Your request for services of any Agency.
All screening procedures, verification services and background checks, whether undertaken by Us or through third party consultants are performed on an “as is” and “as available” basis. By opting to avail of them You acknowledge that We will not be responsible for the quality or accuracy of the results of these procedures.
Agencies may obtain personal information about You due to Your use of the Website/App or Services, and such Agencies may use this information to harass or injure You. We do not approve of such acts, but by using the Services, You acknowledge that We are not responsible for the use of any personal information that You disclose or share with others through the use of the Services.
12.Third Party Sites
All third party advertisements, hyperlinks or other redirection tools on the Website/App which take You to content operated by third parties are not controlled by Us and do not form part of the Website/App. We do not endorse and are not responsible for any content, advertising, products or other materials on or available from such sites. We are not liable for any loss or harm that occurs to You as a result of such sites.
13.Disclaimer and Limitation of Liability
The Website/App and Services are provided on an “as is” and “as available” basis without any representation or
warranty, express or implied. We do not warrant that:
The Website/App or the Services will be constantly available, or available at all. We shall have no liability to You for any interruption or delay in access to the Website/App or Services availed through it, irrespective of the cause;
The information on the Website/App or given through Services is complete, true, accurate or non-misleading;
Any errors or defects in the Website/App or Services will be corrected;
That the Website/App is secure or free of viruses, Trojans or other malware; or
The contents of the Website/App or the Services do not infringe any intellectual property rights.
In no event shall We be liable for any direct, special, punitive, incidental, indirect or consequential damages
including but not limited to any loss of profits, revenue, business or data of any kind in connection with these
Any personal information You supply to Us when You use this Website/App or the Services will be used in accordance
competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these
further or continuing waiver of such term or any other term.
Relationship between the Company and its UsersUse of the Website/App does not create any association, partnership,
venture or relationship of principal and agent, master and servant or employer and employee between the User and the
Company. Further, there is no relationship of principal and agent, master and servant or employer and employee
between the Agency and the Company.
accordance with the laws of India. Any disputes pertaining to the Website/App shall be subject to the exclusive jurisdiction of
the appropriate courts in Hyderabad.
Please contact Us for any questions or comments (including all inquiries related to copyright infringement)
17.Should You wish to terminate Your account for any reason, You may do so by sending an email with the subject line
“Termination” to the following email address: firstname.lastname@example.org
18.This document is an electronic record under the Information Technology Act, 2000 and rules thereunder. This
electronic record is generated by a computer system and does not require any physical or digital signatures.
19.This document is published in accordance with the provisions of Rule 3(1) of the Information Technology
Use for access to or usage of this Website/App. Guaranteed free service if issue reoccurs within 10 days