Credit Information Companies Terms & Conditions
I acknowledge and consent to the following terms regarding my application to obtain my credit information ("Report") from credit information companies, namely, TransUnion CIBIL Limited, Experian Credit Information Company Of India Private Limited, CRIF High Mark Credit Information Services Private Limited or Equifax Credit Information Services Private Limited (collectively, “CICs”), by submitting a request form ("Report Request") through Chinmay Finlease Limited (“Chinmay”) and/or its associated Lending Partners (“Partners”). Chinmay and Partners are hereinafter collectively referred to as the “Entities”.
1. I understand and agree that the Entities may, from time to time, access my credit information from one or more CICs and may also report, share, and update my credit information, including my repayment behaviour, with such CICs in accordance with applicable laws and regulatory requirements. While currently credit information may be accessed from select CICs, the Entities reserve the right to access and/or report information to any and all of the CICs in the future.
2. I understand and agree that the access to my credit information by the Entities is for a permissible purpose, in accordance with applicable laws, including the Credit Information Companies (Regulation) Act, 2005 and the rules and regulations made thereunder, as amended from time to time applicable guidelines issued by the Reserve Bank of India, and data protection laws in force.
3. I hereby appoint and authorize the Entities to act as my duly authorized representative to obtain, receive, access, and use my Report from the CICs on my behalf, and to use the same in accordance with applicable laws, and the Entities’ terms and conditions. Such authorization shall also include, where applicable, the purpose of enabling credit monitoring services, alerts, or similar features (including but not limited to CIBIL Alert or equivalent services), as may be offered by the Entities from time to time.
4. I authorize the CICs to forward the Report to the Entities, acting on my behalf, and grant the CICs my full permission to do so. I also agree that the Report is for my personal use and shall not be used for any unlawful or unauthorized purpose.
5. I understand that the CICs and the Entities shall not be responsible for any use, storage, processing, or disclosure of the Report by the Entities after the Report has been lawfully furnished to the Entities pursuant to my consent, except to the extent arising from any error, negligence, wilful misconduct, or statutory non-compliance attributable to the relevant CIC.
6. I understand that I may be required to provide instructions or register my consent electronically. By ticking the checkbox and clicking “Continue”, I provide the Entities with "written instructions" to access my personal credit profile from the CICs, which includes my consumer credit information and other related details. I also authorize the Entities to collect and use this data for the purpose of verifying my identity and facilitating the provision of the Report and processing of my loan application. I understand and acknowledge that the sanction and disbursement of any loan shall be at the sole discretion of the Entities and shall be subject to their internal policies, eligibility criteria, and applicable laws and regulations. The Entities shall have no obligation to provide the Report or process my request and reserve the right to accept or reject any request or application at their sole discretion, without assigning any reason. I acknowledge that I have read and agree to their privacy policy. I further authorize the Entities to use my credit information for purposes including identity verification, KYC compliance, fraud prevention, and credit risk assessment, in accordance with applicable laws and regulatory requirements.
7. By completing this registration form, I provide the Entities with explicit written consent to seek and retrieve information about me from external sources, including consumer credit reports and scores from consumer reporting agencies whenever necessary, for as long as required for the purposes stated herein, subject to applicable laws, regulatory requirements, and the Entities’ internal policies. I understand that my consent shall remain valid for the duration required to process my application and, in the event the loan is disbursed, until such loan has been fully repaid by me, and thereafter for such additional period as may be required or permitted under applicable laws, regulatory requirements, or record retention obligations. I also grant the Entities permission to retain a copy of my data in compliance with their terms of services and privacy policy for such period as may be required to comply with applicable laws, regulatory requirements, and their internal policies.
8. I acknowledge that the Entities may share my credit information with regulated lenders, group companies, credit bureaus, service providers (including outsourced agencies), and other authorized third parties, strictly on a need-to-know basis and in compliance with applicable laws and regulations.
9. I understand that the Report is provided on an “as is” and “as available” basis, and that the CICs make no representations or warranties, express or implied, including with respect to accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose. I understand that the Report is based on information received from various third-party sources, and the CICs and the Entities do not guarantee the accuracy, completeness, or timeliness of such information. The Entities rely on such information without independent verification and shall not be responsible for any inaccuracies or omissions in such information.
10. I acknowledge that the CICs may disclose my credit information to the Entities pursuant to my consent and in accordance with applicable law. The CICs & Entities shall not be liable for any lawful disclosure of such information made pursuant to my valid authorization, except to the extent arising from any negligence, fraud, wilful misconduct, or violation of applicable law attributable to the relevant CIC.I accept that the laws of India will govern these Terms and Conditions and that the courts in Ahmedabad will have exclusive jurisdiction over any disputes arising from it.
11. I expressly authorize the Entities to contact me directly or through its authorized representatives on the contact details provided by me and on alternative contact details available in my credit information obtained from CICs, solely for purposes relating to verification, servicing, collection, recovery, and other legitimate business purposes in accordance with applicable law.
12. Chinmay reserves the right to modify, update, or revise these Terms and Conditions from time to time to reflect changes in applicable laws, regulatory requirements, or business practices. Any such updates shall be effective upon being made available on the official website of Entities or through other appropriate communication channels. Continued access to or use of the application/services after such updates shall constitute acceptance of the revised Terms and Conditions.
13. I confirm that all information provided by me for the purpose of obtaining the Report and/or applying for a loan is true, complete, and accurate. I understand that any incorrect or incomplete information may result in an inaccurate Report or impact the processing of my application, and the Entities shall not be responsible for the same and shall have the right to reject my request without being required to specify reasons for such rejection. I shall be solely responsible for any consequences arising from any misrepresentation or incorrect information provided by me.
14. I understand and agree that the Entities may levy charges for providing access to the Report and/or related services, including applicable taxes, payment gateway charges, or convenience fees, as may be specified from time to time. I further acknowledge that once a request for obtaining the Report has been initiated, no cancellation shall be permitted, and any fees paid shall be non-refundable, irrespective of whether the request is processed, rejected, or the Report is not generated for any reason whatsoever, unless otherwise required under applicable law.
15. I acknowledge that the Entities do not warrant that their platform, website, or systems used for accessing the Report will be uninterrupted, timely, secure, or error-free, nor do they guarantee that such systems will be free from viruses or other harmful components. The Entities shall not be liable for any loss or damage arising from technical failures, delays, interruptions, or corruption of data in connection with the use of such systems.
16. I understand that the Report and any related insights, analysis, or outputs are provided solely for informational and illustrative purposes and do not constitute financial advice, recommendation, or solicitation of any kind. The Entities shall not be responsible for any decisions taken by me based on the Report.
17. Any disputes relating to the credit information can be raised with the respective CIC on their official website. I further understand that for any queries, concerns, or grievances relating to the use of my credit information, I may contact the Entities through the contact details provided on their official website.