Sparkel Plan

TERMS AND CONDITIONS

1. The AYAANI sparkle plan (here in after referred to as “AYAANI Sparkle” or the “Plan”), offered by AYAANI DIAMONDS AND JEWELLERY PRIVATE LIMITED (“AYAANI” or the “Company”), through its franchisee/ franchised showrooms (“AYAANI Stores”) allows customers to purchase AYAANI DIAMOND jewellery by making fixed monthly deposits spread over a period of 10 (ten) months or 300 (three hundred) days, whichever is lesser. Customers participating in this Plan are eligible for certain discounts, subject to these terms and conditions.
2. The Plan involves making a deposit of 10 (ten) fixed monthly instalments of a minimum of Rs. 1,000/- (Rupees one thousand only) or more, where the instalments shall be made in multiples of Rs. 1,000 (Rupees one thousand only). During the said period, the customer shall only deposit the fixed monthly instalment with AYAANI each month and shall not be allowed to prepay any fixed monthly instalments for the subsequent months.
3. The customer shall be required to make the instalment payment on or before the monthly due date, as may be decided by AYAANI (“Due Date”). The date of payment of first instalment shall be deemed as the opening date of the account of the customer (“Opening Date”). However, if the customer fails to pay an instalment on the Due Date, the Company may, at its sole discretion, cancel or suspend the Plan. Any amount accumulated up to that point will be credited back to the customer's account, and the customer will not be eligible for any discount on the AYAANI products.
4. The customers shall fill 2 (two) forms for opening an account under this Plan: (i) an opening form at the time of enrolment, which shall include customer details, KYC information, bank account details, nominee details, etc., and (ii) a closing form at the time of purchase or Plan closure, signifying the end of the Plan.
5. Discounts : The customers shall be eligible for the following discounts on AYAANI Products starting from the end of 6th month until the maturing of the Plan or the end of 10th month:

• A discount of 100% (hundred percent) of 1 (one) month’s instalment after completing 10 (ten) months from the Opening Date, provided all 10 (ten) monthly instalments have been paid by the customer on the Due Date.

• in an event the customer redeems his/ her benefits under the Plan before completing 10 (ten) months but after making the monthly instalment for the 9th month, they shall receive an 80% (eighty percent) discount of 1 (one) month’s instalment, subject to payment of all 9 (nine) monthly instalments by the customer on the Due Date.

• for redemption after 8 (eight) months but before depositing the monthly instalment for the 9th month, the discount shall be available at 70% (seventy percent) of the monthly instalment value, subject to payment of all 8 (eight) monthly instalments by the customer on the Due Date.

• For redemption after 7 (seven) months but before depositing the monthly instalment for the 8th month, the discount shall be available at 60% (sixty percent) of the monthly instalment value.

• For redemption after 6 (six) months but before 7th month, the discount shall be available at 50% (fifty percent) of the monthly instalment value.

6. Additionally, the Company may combine any ongoing or promotional offers, whatever is higher, available at the time of redemption.
7. No payment shall be accepted by AYAANI beyond the completion of 300 (three hundred) days.
8. The Company does not accept any instalment payments in the form of gold from its customers.
9. The customer may pay monthly instalments under the Plan either at any of the AYAANI's Stores or through AYAANI’s online platform ayaani.in. The customers may make monthly payments towards the Plan using cash up to Rs.15,000/- (Rupees fifteen thousand only),however there shall be no limit on the payments made by the customers via credit/debit cards (with no maximum limit), NEFT/RTGS, cheques, standing instructions(“SI”), or automated clearing house(“ACH”) or such other online modes preferred and approved by AYAANI.
10. In the event of a cheque dishonor, the associated bank charges will be the customer’s responsibility. AYAANI shall not be liable for any issues related to online payment failures or funds being debited from the customer’s account. Customers should verify payment details with their banks or service providers and ensure all payment information is entered accurately. Receipt for payments made through ACH or SI shallbe issued by AYAANI only after payment clearance. For ACH/SI enabled accounts, the Plan cannot be closed before the maturity date unless the account holder cancels the ACH/SI by submitting the required forms to AYAANI. Customers may request a computerized receipt from any AYAANI's Store.
11. The diamond and gold rate booked or charged on the invoice may vary depending on the rate applied by the Company. The rate of the diamond and gold shall be based on the Company’s prevailing rate on the date of purchase of the AYAANI products by the customer, and not on the Opening Date when the customer enrolled under the Plan.
12. Any person subscribing to the Plan must be at least 18 (eighteen) years old and a resident of India.
13. Enrolment can be done either offline at the AYAANI's Stores or online through ayaani.in.
14. At the time of enrolment, the customer must provide a copy of their photo identity and address proof documents, such as Aadhaar card, driving License, voter ID, passport, ration card, PAN card, or any other government-issued document, along with bank account details, to meet the KYC requirements.
15. In case of any change in contact, address details, or any other information provided by the customer, the customer shall immediately contact customer care of the Companyto update suchdetails. Such modifications shallbe made subject to the satisfaction of AYAANI. The customers shall ensure that their given name matches the identity proof provided and avoid using nicknames or short forms. Additionally, the bank account and other details provided in the opening form must be accurate.
16. AYAANI reserves the right to verify the customer's identity through SMS, OTP generation, or any other means at any time, including during enrolment and at the time of purchase and delivery of the AYAANI products. AYAANI also reserves the right to verify the authenticity of the documents provided by the customer.
17. At the time of enrolment, the customer must sign the openingform, either physically or electronically, to confirm their acceptance of these terms and conditions.
18. This Plan currently does not allow account transfers between various AYAANI’s store locations.
19. To redeem the instalments for the purchase of AYAANI products, the account holder must be present in person at the time of purchase. The account holder is required to present a valid photo ID and PAN card, if mandated by applicable law, for the redemption process. The Company reserves the right to verify the customer’s identity using any method it deems appropriate.
20. The customer shall utilise the entire amount paid under the Planfor a full purchase of AYAANI products and partial purchases shall not be permitted hereunder.
21. In an event of cancellation of the Plan for any reason whatsoever, theaccrued amount shall be creditedto the customer’s bank account. Regardless of whether the cancellation happens before or after maturity, only the principal amount paid shall be refunded, and no additional contributions shall be provided by AYAANI.
22. Refunds under the Plan, if applicable, shallbe made by online transfer to the bank account of the customers as specified in the openingform andno cash refunds shall be made and allowed by AYAANI. No interest shallbe paid by the Company in case of any refund.
23. At the time of enrolment, the customers shall appoint a nominee by submitting the necessary documentation to AYAANI. In the event of the account holder’s death, the amount shallbe transferred to the nominee specified in the openingform, provided the nominee presents valid identity and address proof. If however the customer has not appointed any nominee for its account under the Plan, any claims made by any third party shall not be processed unless the claimant, a legal heir or authorized person, provides the Company with the following documents: death certificate of the deceased, succession certificate, no objection certificate from other surviving legal heirs, an indemnity undertaking to indemnify AYAANI from any claims, and a Will (if available), as well as any other supporting documents and clarifications as may be required by the Companyor under applicable laws. The Company’s decision on the sufficiency of these documents shall be final and binding on all claimants.
24. The Company reserves the right to modify, amend, or discontinue any part of the Plan’s privileges without prior notice to the account holder, provided that such modifications do not negatively impact the account holder’s interests. Furthermore, the Company may suspend the Plan at its discretion. In the case of suspension, the account holder may use the value of the accumulated instalments and any discounts accrued to purchase items at the AYAANI's Store as of the suspension date.
25. The extent of the Company’s, its franchisees’, or agents’ liability under the Plan is confined to the value of the instalments and advances paid by the account holder(s) / customers and the discounts applied as per the Plan. No further guarantees or warranties are made by the Company beyond the terms outlined herein.
26. The Company reserves the rightto amend, add or delete part or whole of the privileges of the Plan without prior notice to the account holder, as long as the same is not detrimental to the interests of the account holder,and the updated version of the same shall be available at ayaani.in. If a revision is material,then the Company will make reasonable efforts to provide at least 30 (thirty) days’ notice prior to any new terms taking effect.
27. The Company’s discretion at the time of redemption under this Plan shall be considered final and irrevocable.
28. The courts in Surat shall have exclusive jurisdiction over any disputes arising from this Plan.