KYAT GOLD SCHEME (KGS)

SYSTEMATIC GOLD ACQUISITION PLAN

We are TCG Gold PVT LTd, ('Company', 'we', 'us', or 'our'), a company registered under the Companies (amendment) Act, 2013 in India at 31/07/04, Swarn Path, Mansarovar, Jaipur, Rajasthan 302020. We are jewelers and work under the brand name of TC JEWELLERS and KYAT GOLD dealing in Gold, Diamond and Silver ornaments, in the variety of precious and semi-precious stones and all sort of precious and semi-precious jewelry items.

With utmost pleasure we are pleased to announce a gold ornament acquisition plan on an easy advance payment method called the KYAT Gold Scheme (KGS). The said Scheme can be opted either through offline purchase method from our physical stores or through our website www.kyatgold.com or whatsapp and our app “KYAT” which is available at IOS and ANDROID platforms.

ABOUT KGS

KGS offers people (individuals) who are above 18 years of age to fulfil their dreams to buy Gold, Silver or Diamond ornaments by systematically paying tender amounts to us as advances and on successful completion of the tenure of their advances, they can choose from a variety of items available either at our website or physical store and redeem their advances against the said items. In choosing such plans the Customers/ Participants also gain a chance to be a lucky winner in our monthly draws wherein the lucky winner’s remaining tenure is then paid by us in full and they can redeem their total value either instantly or at a later date as per this policy terms. Even for the Customers/Participants who successfully complete the tenure of 12 installments shall still be eligible for an additional benefit of 29% of their first installment per token amount or Rs.580/- (Five Hundred and Eighty Rupees) whichever is higher worth of shopping vouchers from our offline or online stores/platforms. This guarantees an assured return to the Customer/Participants.

TERMS AND CONDITIONS OF KGS

1. The Customer/Participant shall be liable for a payment of Rs. 2000/- (Two Thousand Rupees) per installment every month to avail a token and participate under the said scheme of 12 installments. The Participant can avail multiple tokens up to a maximum of 20 tokens i.e. Rs.40,000/- (Forty Thousand Rupees).
2. The KGS offers a total of 130 tokens in standardized size lot of KGS. We reserve the right to run single or multiple lots as per the sole discretion that resides with us.
3. The Customer shall complete the KYC (Know Your Customer) as per statutory norms and shall be allotted a membership card for offline membership and a confirmation message and membership details (through mail or whatsapp or text message ) for online mode which can be accessed through our portal/application/website/whatsapp accounts, issued after successful payment of the first advance installment and submission of KYC.
4. The installments paid for by the customers shall be maintained with us and regular payments without any default shall make you eligible for the monthly draws held at our physical branch or can stream through links available via online website or application or through whatsapp.
5. Default in payment of installment shall mean payments received after the last date which is 5 days prior to the contest being held. Such payments shall be credited on or before 5 days prior to the contest date, failure to which shall attract a penalty of Rs. 10/- per day (Ten Rupees) for a period of such 5 days subject to number of days delayed to a maximum of Rs.50/- (Fifty Rupees) for default month wherein such particular contest has been held.
6. In case the Customer/Participant is unable to pay the installment as per Clause 5 above, i.e. payment not made on or before 3 hours of the prescribed time of contest, then if such Participant becomes the winner of the draw, any and all benefits in reference of the same shall be transferred to the Company and the Customer/Participant shall not have any right to challenge the same. Still, as per the good gesture of the Company, such Customer shall be eligible for instant voucher of the value of his total installments paid without any deduction of penalty which can be redeemed as per the terms of this policy.
7. Two consecutive non-payment of installments, shall mean automatically termination of membership and in case of such membership token becomes the winner, then same shall be liable to payment as similar to Clause 6 but only an extra penalty of Rs. 100/- (One Hundred Rupees) shall be additionally deducted and a voucher of the remaining amount shall be generated to be redeemed as per this Policy.
8. In case of cancellation of membership, and no lucky draw was obtained in favour of such defaulted Customer/Participant, then the amount retained with us shall be subject to a deduction of Rs. 4,000/- (Four Thousand) (inclusive of 18% GST or 3% GST as applicable) and the remaining amount vouchers shall be issued in lieu of which, the Customer/Participant shall be eligible to redeem such voucher against the listed and offered items at our store or online website/platform.
9. The investments shall consist of 12 instalments paid every month and on successful competition of the said installments, the Customer/Participant shall be eligible for purchases of gold, diamond, silver or semi precious metal items offered (including gold jewelry, silver jewelry, Kundan and diamond jewelry) at our online or offline platforms. (The items offered shall exclude gold coins, silver coins, gold bars, silver bars or similar items)
10. Excluding the members who win the lucky draws, rest every member shall be eligible to an additional voucher of 29% of the first installment per token paid or Rs. 580/- (Five Hundred and Eighty) whichever is higher. Such voucher shall be redeemed in full unless any penalty or amount is due towards us in lieu of the KGS terms and conditions. If such amount is due in terms of breach of the terms and conditions, then the same shall be deducted by us.
11. Any Customer/Participant whose membership is cancelled,  shall surrender their token with us and in furtherance such token shall be property of the Company and participation shall be done by the Company itself in place of the said member.
12. Any and all sums received under this KGS shall not bear any liability towards us in respect of any interest or similar encumbrances. The installments paid by the Customer/Participants shall be free from any encumbrances and we shall not be responsible for any payments made to us unless as specified under this policy. Any amount redeemable shall in no way be refunded back in currency value i.e. cash or bank transfers.

KGS LUCKY DRAW METHOD

1. The Lucky draw shall be conducted on a pre decided fixed date at 6pm onwards or predefined by the company in advance for any change in time, every month and there shall be 12 draws conducted.
2. Contest date of the lot shall be finalized and informed by us, and shall be conducted at the physical store.
3. The said draw shall be open to members for inspection and the same shall be video recorded, the member reserve their rights to visit the store at the time of contest or will also be provided a copy of the video recording of the contest and updated in the whatsapp or other social media/ online platforms (as per the discretion of the Company).
4. 130 tokens from the starting period shall be put in a bowl and shuffled, and any person can be called to pick a random unknown token number and the token which wins shall be eligible to waive off any further payments and shall instantly be eligible for a voucher worth Rs.24,000/- (Twenty Four Thousand) which can be redeemed at per the Terms and Conditions of KGS. Specifically for the last draw being held the winner of the last draw shall stand benefited of Rs.1,000/- (One Thousand Rupees) and shall be eligible for a voucher worth Rs. 25,000/-(Twenty Five Thousand).
5. Once a token has been declared the winner, the said token shall not be eligible to participate in the next draw event and the draw shall be conducted with the remaining tokens to provide fair chance to all participants.

ADDITIONAL TERMS & CONDITIONS

1. The Customer/Participant shall be minimum 18 years of age.
2. KYC shall be signed and annexed with documents such as proof of identity including but not limited to Adhaar Card/ PAN/ Driving License/ Electoral Card/ Passport etc.
3. Total amount shall not exceed Rs. 1,99,999/- (One Lac Ninety Nine Thousand Nine Hundred and Ninety Nine Rupees) unless compulsorily accompanied by PAN. For the brevity of understanding, any person making a transaction upto a value of Rs. 1,99,999/- (One Lac Ninety Nine Thousand Nine Hundred and Ninety Nine Rupees) can do so without providing PAN but any transaction either single or multiple combined value, PAN shall be compulsorily required. Such amount shall be calculated on yearly basis.
4. Participation in the said scheme can only be made by individuals or minors can enroll only under the name of their parents/ legal guardians. Entities like private or public companies, Partnership Firms, Proprietorships, Trust, Hindu Undivided Family, or Non-Residents Indians are not eligible to participate.
5. Online Participants shall be provided a membership details through mail or through mobile application with their registered number bearing membership details and lot/group number. Offline participants shall be provided with a physical membership card. Membership cards bearing the membership details shall be the identity of the participants and the same shall be carried by each participant at the time of redemption of the benefits. The same shall be kept under safeguard and any loss or theft of the same shall be intimated to us instantly via written submission.
6. The Customers/Participants provide their express consent to reach them via their registered mobile number/ email address and the Company reserves the right to authenticate their phone numbers through One time Passwords or company generated links received from the official Company Accounts.
7. The Customer/participant shall bear full responsibility for providing correct information to the Company and in case of any discrepancies which is caused by the fault of the Customer/participant, the company shall not bear any responsibility of the same.
8. The Company recommends to register a nominee with the Company in case of any mishappening in order to safeguard the rights of the Customer/participant. In case of absence of nominee, the Company shall be obligated to follow the procedural laws as established by the statutes of India.
9. The Customer are advised to utilize their account funds or voucher generated within 6 months from the date of maturity. Such vouchers shall be available of the same value within their mobile application or website accounts and can be used for shopping. Such voucher value shall not attract any interest or penalty and shall be free from any and all encumbrances towards the Company.
10. The Customer also has the right to book gold i.e. to book the price of the gold on or after the date of maturity which shall be approved and accepted by the Company and a written assurance shall be provided as accepted between the Customer and Company else the rate of the gold or any other precious commodity as per the date of purchase shall be applicable. Such feature shall only be accessible through physical stores only.
11. The price of the product shall include gold and stone charges and further making, wastage charges, material charges, goods and services tax or any other surcharges, levies as may be applicable/prevailing at the time of purchase.
12. The Price of gold or silver shall be determined as per the Jaipur Sarafa Committee on the day of purchase.
13. The Company in no manner is obligated to issue reminders in lieu of payment of installments through any method including but not limited to calls or messages, or emails etc. unless the payment method is chosen to be Electronic Clearing System (ECS).

ENROLLMENT AND PAYMENT METHODS

1. The Customer/participant can register themselves by selecting the running group/lot and completing KYC as per the procedure established by the Company. The registration is available through app/ website or company owned whatsapp.
2. The Customer/participant shall then make payments and after successful completion of the payment a unique membership details shall be generated by the Company in favour of the Customer/Participant.
3. The Customer/Participant can make payments either in cash or through online payments methods such as NEFT, RTGS, IMPS. The Customer also can make payments by Cheques or Demand Drafts but the same shall be credited on or before the due date as mentioned above. In case of payments made by the customer through UPI or online transfers (including but not limited to paytm, gpay, phone pe) screenshots of the said payments shall be sent to the Company along with your full name and membership details. Any additional bank charges in reference to the payment shall be completely borne by the Customer/Participant.
4. The Customer/Participant shall be entitled to receipts once the Company has verified the payments. Generation of such receipts may take upto 7 (Seven) working days.
5. In case of cancellation of membership and any amount is received after such cancellation of amount despite being winner of draw or not; such amount shall be refunded by the Company and under no circumstances shall attract any premium, interest, penalty or any encumbrances towards the Company. Such refund shall be processed as per the request of the Customer in Cash or the Customer shall have the right to purchase jewelry  against the said amount.

GENERAL TERMS/INFORMATION GOVERNING THE POLICY

1. We reserve the right to alter, amend, add or delete part or whole of the privileges of the scheme or suspend at any time without prior notice to the KGS account holder. In any such event, the account holder may purchase any item at the TC Jewellers store equal to the value of advances accumulated in their account, as on day.
2. Prepayment of installments or advancements of the maturity date is not permitted. One installment per token can only be made to the Company.
3. Alteration of initial agreed token amount is not permitted. Surrender of the token shall be subject to a deduction of Rs.4,000/- (Four Thousand) including GST (18% or 3% or any other applicable rates as per statutory norms) and a voucher of the remaining amount shall be generated and redeemed either online or through offline store.
4. The liability of the company under KGS is limited to the extent of instalments/ advances paid by the Customer/Participant and the discount/bonus as per the plan and the terms and conditions contained herein and thus does not lead to any other assurance or warranty whatsoever by the Company.
5. Conditions which are explicitly not covered above, would be the discretion of the company at the time of transaction/redemption. The decision of the company in this regard would be deemed as irrevocable and final.
6. Disputes if any are, will be subject to the courts in Jaipur , Rajasthan, jurisdiction only, to the exclusion of any other court’s jurisdiction. 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 advance purchase plan suitable to the change of law and necessary requirements as per the same have to be complied with by the KGS Customer/Participant.
7. Limitation of Liability: The Company can only be held liable up to the threshold amount of total installments received by the Company. The Company shall under no circumstances bear any extra cost and the Customer/Participant waives their right to any additional expenses incurred above the total threshold amount of installments paid.

FREQUENTLY ASKED QUESTIONS:

1. If I enroll in KGS, what is the token amount and how many token can I hold under my name?

• You can buy multiple tokens and single unit token value is Rs.2,000/- . The total number of tokens under a single name cannot exceed 20 unit tokens.

2. What if I win the lucky draw?

• If you win the lucky draw you shall instantly receive the voucher of Rs. 24,000/- despite any number of installments paid from one to eleven.
• If you have paid 12 installments then you shall be eligible for an additional voucher of Rs. 1000/-

3. What if I don’t win any lucky draw?

• Even if you don’t win any lucky draw you shall gain a additional voucher worth 29% of of your first installment or Rs. 580/- whichever is higher, so under any method even if you don’t win you gain a least amount of Rs.580/- voucher guaranteed.

4. What will be the due date for payment?

• The due date for the payment shall be 5 days prior to the date of lucky draw every month. For example, if the lucky draw is to be held on 20^thof September; then payment shall be made on or before 15^th of September.

5. What if I delayed payment and even defaulted after the date of lucky draw?

• In case your payment is delayed, the Company provides you a chance to make the payment by paying Rs. 10/- per day as delay charges upto a maximum amount to the tune of Rs. 50/- per defaulted month. If such penalty is not paid with the defaulted amount then the same shall be subject to deduction from a final gift voucher of Rs. 580/- (Five Hundred and Eight Rupees).
• If the payment is still not paid till the prescribed time of lucky draw, and your token wins the lucky draw, then a voucher of the value of received installments shall be issued for purchase from us as per the policy norms without any penal charges or deductions.

6. What will be the process in case of default of payment regularly for 2 months?

• If you do not pay for regularly two months, then the Company shall terminate your membership and generate voucher of any balances accumulated after deducting a handling fee of Rs. 4,000/- (per unit token). So for example, you have accumulated Rs. 10,000/- per unit token in your membership and you default in your payment for 2 months consecutively, then the Company will generate a voucher worth Rs. 6,000/- per unit token and terminate your membership. The said voucher can be redeemed according to the policy terms.
• If you do not pay for consecutively 2 months but your token wins the lucky draw then the company shall deduct a charge of Rs. 100/- towards penalty of non payment and a voucher of the remaining amount from the total amount of installments paid shall be issued to be redeemed as per the policy norms. So for example, you have accumulated Rs. 10,000/- per unit token in your membership and you default in your payment for 2 months consecutively, then the Company will generate a voucher worth Rs. 9,900/- per unit token and terminate your membership. The said voucher can be redeemed according to the policy terms.

7. What shall be the procedure of surrender of my membership?

• There is no process of surrender and any surrender of the membership shall mean the default of payment for consecutive 2 months and similar process shall be applicable.

8. What if I want to visit the store and witness the lucky draw myself and can I also see the same through online platforms?

• We proud ourself at our transparent terms with our Customer/Participants and you are most welcome to visit such event. Moreover, you can also request us the video of the event and we will be happy to provide you the same.
• You can also visit our youtube channel or whatsapp wherein you can see the recorded event as well.

9. If I am a lucky winner in the draw, will I also get the gift voucher from the company of Rs. 580/- at the end of tenure?

• No, only a single benefit can be redeemed whichever is higher.

10. Can I redeem the scheme benefits in cash or gold coins, silver coins or in a manner wherein such are not covered under the head of jewelry.

• No the redemption can only be made through listed items which are available in our online or offline stores.
• No cash or redumption can be made wherein such is not covered under the head of jewelry.
• You can request specific designs of jewelry but the same shall be needed to be approved by the Company and the Company reserves absolute right to approve or deny such request.
• So, for example, you have accumulated Rs. 10,000/- per unit token in your membership and you default in your payment for 2 months consecutively, then the Company will generate a voucher worth Rs. 6,000/- per unit token and terminate your membership. The said voucher can be redeemed according to the policy terms.

11. In what manner can I easily enroll in the scheme, I do not want to visit the store or know much about internet operations?

• You, can easily enroll in our services by just sending us “HI” on our whatsapp number +91-9119194848; and connect with us. You will receive all the information and also you can update us with screenshots of payment at the same number.

12. After competition of my installments and participation of scheme, will my gold, silver or diamond jewelry be in compliance with government norms. I mean how can I put my faith in the jewelry purchased?

• We only deal with BIS Hallmark 22/22 Kt. Gold Jewelry, SGL, IGI Certified Diamond/ Silver Jewelry for the purpose of KGS

Contact

Brand name: Kyat 

Firm Name- TCG Gold Private Limited

GST- 08AAKCT8478J1ZG

Phone number: +91 9829207675

Email: info.kyatgold@gmail.com

Address: 31/07/04, Swarn Path, Mansarovar Sector 3, Mansarovar, Jaipur, Rajasthan 302020