Terms & Conditions

By using the Digital Gold Services, you also agree to the SafeGold Terms & Conditions.

This document is an electronic record in terms of the Information Technology Act, 2000, and rules thereunder as applicable, and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

Please read these Terms of Use carefully before registering, accessing, or using the Sanduk Services (described below). These terms and conditions are a binding legal agreement between you and SHIVARYAA INNOVATIONS PRIVATE LIMITED (“Sanduk”), a company incorporated under the laws of India with its registered office at Ahmedabad, Gujarat 380015, India.

You agree and acknowledge that you have read the terms and conditions set forth below and agree to be bound by them. If you do not agree to these Terms, you shall not use the Services and/or shall immediately stop using the Services and uninstall the Sanduk mobile application and/or log out of the Platform (as defined below).

We may amend these Terms at any time at our discretion by posting an updated version on the App and/or our website. The updated version shall take effect immediately upon posting unless otherwise stated. Your continued use of the App or Services after changes are posted constitutes your acceptance of the updated Terms.

Definitions

“We”, “Us”, “Our” — SHIVARYAA INNOVATIONS PRIVATE LIMITED.

“You”, “Your”, “Yourself”, “User” — a natural person who registers for or uses the App or Services.

“App” or “Platform” — the Sanduk mobile application and any related web or digital interfaces through which Sanduk provides Services to Users, including interfaces used with business partners and service providers where Sanduk acts as an intermediary or platform provider.

“Sanduk Services” or “Services” — all services offered through the Platform, including but not limited to: facilitating purchase and sale of digital gold (and silver where made available); systematic and automated savings (daily, weekly, or monthly auto-save); Gold SIP (and Silver SIP where offered); goal-based savings plans branded as Sanduk or Sanduk goals; wallet and portfolio display; KYC and nominee management; reward points (Sanduk Coins); referrals and promotional offers; sell-for-cash and physical redemption flows; and ancillary services related thereto.

“Digital Gold Services” — services relating to purchase, safekeeping, sale, delivery, or redemption of gold (and silver where applicable) facilitated through the Platform in association with bullion partners.

“Business Partners” — any individual or entity with whom Sanduk has a contractual relationship, including bullion partners, payment aggregators, banks, insurers, and technology providers (including SafeGold Private Limited).

“Customer Gold” — physical gold (or silver, where applicable) corresponding to your valid orders, stored through arrangements with bullion partners and their vault service providers, as further described in these Terms and in partner terms.

Eligibility

By accessing the Services and the App, you represent and warrant that:

1) You are 18 years of age or older and an Indian citizen (or otherwise legally permitted to use the Services in India);
2) You are capable of entering into a legally binding agreement;
3) You have the right, authority, and capacity to enter into this Agreement and to comply with these Terms;
4) You are not impersonating any person or entity, or falsely stating your age or affiliation with any person or entity. Sanduk reserves the right to suspend or terminate your access if any representation is found to be incorrect;
5) Information and Officially Valid Document(s) (“OVD”) or document details provided by you are true, correct, and belong to you;
6) You have the legal ability to purchase and sell gold (and other products offered on the Platform) and to use the Platform;
7) You are not registered under the Goods and Services Tax Act, 2017, unless you have informed us in writing if your status changes during your use of the App;
8) You shall seek independent tax advice where required; these Terms do not constitute tax advice.

Registration and Sanduk Account

To use the Services, you must register on the App and provide accurate and complete information. You must keep your account, KYC details, and contact information current. If any information is untrue, inaccurate, incomplete, or if we reasonably suspect it to be so, we may suspend or terminate your account and refuse current or future use of the Platform without liability to you.

Upon successful sign-up, you receive a Sanduk account. Certain Services may require additional information or creation of linked arrangements (for example, UPI autopay mandates for auto-save, SIP, or Sanduk goals).

Termination of Account

1) We may modify, suspend, or terminate your access to the Platform or any portion of the Services at any time, including for breach of these Terms.
2) Termination may occur without prior notice; your account may be deactivated and access to gold balance display and Services may cease, subject to applicable law and partner processes for settlement or delivery of Customer Gold.
3) You may request account closure by deleting your account in the App or by emailing customer support from your registered email ID.
4) These Terms shall also terminate if Sanduk is adjudged insolvent, ceases business, or undergoes voluntary or involuntary insolvency proceedings, or similar events as described in law.

Upon termination, Sanduk shall not be liable to you or third parties for termination of access; obligations accrued prior to termination and provisions intended to survive shall continue.

Sanduk Services

Sanduk Account — An account created when you register on Sanduk to access Services, including the following:

1) Platform role. Sanduk provides a technology platform facilitating buying, selling, holding (through partners), and related services for digital gold and, where offered, silver. Sanduk acts as a platform provider and, where stated, as your limited agent to facilitate Digital Gold Services with bullion partners. Transactions relating to underlying gold/silver are fulfilled through partners with whom Sanduk has separate agreements.

2) SafeGold partnership. Digital Gold Services on the Platform are facilitated in association with SafeGold Private Limited (“SafeGold”), who acts as bullion partner and provides vaulting, fulfilment, delivery, and related services. By using Digital Gold Services, you agree to be bound by SafeGold’s terms and conditions as amended from time to time (“SafeGold T&Cs”), incorporated herein by reference: https://www.safegold.com/terms-of-use.

3) Limitation of role. Sanduk’s role is limited to providing the Platform and facilitating transactions. Sanduk is not liable for products or services of Business Partners (including SafeGold) beyond its role as platform provider. If there is any conflict between these Terms and SafeGold T&Cs regarding Digital Gold Services, SafeGold T&Cs shall prevail for those services.

4) Additional Platform features. Without limiting the above, the App may offer: one-time gold purchases; live market-linked pricing; daily, weekly, or monthly auto-save; Gold SIP (and Silver SIP where enabled); Sanduk goal-based savings with target amount and schedule; reward points and promotional offers; referral benefits; sell-for-cash (payout to your bank/UPI); and physical gold redemption (where available), each subject to these Terms, partner terms, and applicable limits shown on the Platform.

KYC Requirements

You may be required to complete Know Your Customer (KYC) verification and provide documents or information required by Sanduk or Business Partners (including SafeGold), including for fraud prevention, regulatory compliance, delivery, or sell/payout. KYC may be based on PAN and/or Aadhaar (or Form 60 where applicable under partner rules). Selling gold or receiving cash payout generally requires completed KYC as determined by Sanduk and partners. Buying may be permitted before full KYC subject to limits and partner rules displayed on the Platform.

Authorisation

You voluntarily authorise Sanduk to act as your limited agent to facilitate Digital Gold Services through the Platform, including: interacting with SafeGold and vault, logistics, or payment service providers; addressing unclaimed or inactive balances as permitted by law and partner terms; and taking steps agreed with partners to protect your interests. Actions taken by Sanduk under this authorisation shall be binding on you to the extent permitted by law.

Restriction on Use

1) Sanduk grants you a limited, non-exclusive, non-transferable, revocable licence to use the App for personal, non-commercial use of the Services.
2) You shall not copy, reproduce, sell, redistribute, publish, or exploit Platform content except as permitted for personal use of the App.
3) You shall not damage, disable, impair, or interfere with the Platform or other users’ use or legal rights.
4) You shall not republish live gold prices, descriptions, or Platform data on other media without consent.
5) Data on the App does not constitute investment advice. You are solely responsible for decisions to buy or sell gold. Sanduk is not liable for losses arising from your investment decisions or use of the Platform except as expressly stated in these Terms.
6) Sanduk is not liable for indirect or consequential loss arising from use of the App except where liability cannot be excluded under applicable law.

Placing of Order

1) Prices displayed on the Platform are invitations to offer. A valid order placed by an eligible user constitutes an offer to purchase or sell gold (or silver where offered), as applicable.
2) You may purchase gold on a prepayment basis. Applicable GST (currently 3% on gold purchases, as shown on the Platform) applies as per law. Minimum purchase amounts and limits may apply as shown on the Platform (including minimum order values such as ₹10 or higher where specified).
3) After payment is received and KYC (if required) is acceptable to partners, an invoice or confirmation may be issued within the timelines prescribed by SafeGold or Sanduk.
4) Sanduk and/or SafeGold may delay, reject, suspend, or cancel orders for reasons including technical errors, market volatility, system downtime, fraud risk, or legal compliance. Refunds shall be processed where payment was taken and the order is not completed.
5) Sanduk may set minimum and maximum purchase, sale, delivery, or redemption limits per user or period; such limits are binding when displayed on the Platform.
6) Once a valid order is confirmed and paid, cancellation may not be permitted except where payment fails or as required by law or partner terms.
7) Rejected orders with payment received shall be refunded per these Terms or SafeGold T&Cs.
8) Purchased gold may be stored with vault service providers appointed by SafeGold on your behalf, subject to SafeGold T&Cs.
9) Title to Customer Gold is deemed to pass to you upon storage/confirmation per partner terms and applicable law.
10) Digital gold purchased through the Platform remains your property; Sanduk and SafeGold do not claim ownership of your Customer Gold.
11) Safekeeping is performed by SafeGold and its vault partners; Sanduk is not responsible for physical storage except as expressly stated.

Holding period before sale

Partner terms may restrict resale of gold for a specified period after purchase (for example, 48 hours). You agree to comply with any such restrictions shown on the Platform or in SafeGold T&Cs. Sanduk may enforce such restrictions through the Platform where technically integrated with partners.

Storage of Customer Gold

Free storage for gold (and silver where applicable) purchased through the Platform may be provided for a period specified by SafeGold on the Platform (for example, five years from purchase or such period as notified). After any free storage period, storage charges may apply as per rates published by SafeGold or on the Platform. Please review the Platform and SafeGold T&Cs periodically for current storage terms.

Insurance

Insurance of Customer Gold in vaults is arranged by SafeGold as per SafeGold T&Cs. Coverage and exclusions (including events such as war, nuclear risk, etc.) are defined in partner policies. You authorise SafeGold to act as beneficiary under applicable policies where required. Details of uninsured risks and intermediary charges are in SafeGold T&Cs.

Pricing and Payment Policy

1) Displayed buy/sell prices are linked to partner pricing mechanisms (including spot-market-based quotes from SafeGold) and may change frequently.
2) Sanduk may change the reference pricing mechanism with notice on the Platform where required.
3) Your payment obligation depends on prices shown at the time you confirm an order.
4) Payments are accepted through payment options on the App, including UPI, payment gateways, and autopay mandates via authorised third-party providers.
5) Taxes, duties, and levies on purchase, sale, delivery, or transfer are borne by you unless stated otherwise. Detailed payment, delivery, warranty, cancellation, and refund terms for underlying gold are also governed by SafeGold T&Cs.
6) You are responsible for personal income tax and reporting. Sanduk does not provide tax advice.
7) You represent that GST/TDS treatment you declare (for example, non-GST dealer status) is accurate; you shall update Sanduk if your status changes.

Sell, Payout, and Delivery of Gold

Sell for cash. Where enabled, you may sell digital gold balance for cash payout to your registered bank account or UPI, subject to KYC, partner approval, and Platform limits. Payout timing depends on banking and partner processing.

Physical redemption. You may request physical delivery or redemption of Customer Gold through the Platform where offered, by using your digital balance and paying applicable making charges, delivery charges, and taxes. You must provide a valid delivery address and documents required by Sanduk and SafeGold. Delivery may be through partner logistics; recipient verification (ID/address proof) may be required. Inspect packages at delivery; claims after signed receipt may be limited per partner terms.

If delivery cannot be completed within maximum storage or contact periods under partner terms, SafeGold may attempt contact and, if unsuccessful, may liquidate or handle unclaimed gold as per SafeGold T&Cs (including purchase at prevailing Platform sell price).

Return, Refund and Cancellation Policy

1) Coupons or discounts may be verified and adjusted within timelines stated on the Platform.
2) Once payment is confirmed for a completed purchase, the transaction is generally binding and non-cancellable except as per law or partner terms.
3) Auto-save / autopay: You may pause or stop automated savings as follows:
a) To pause — use the pause option on the home screen or investment detail for the relevant saving plan and select the pause duration where offered.
b) To stop / delete mandate — go to Profile → Autopay, select the mandate, and delete; or revoke the mandate in your UPI application. Pausing or deleting stops future debits but does not reverse completed purchases.

Offers and Rewards

Sanduk may run promotions including Sanduk Coins (reward points), promo codes, vouchers, or other incentives, each subject to additional terms, validity, and eligibility. Offers may not be combined unless expressly stated. Sanduk may modify or withdraw offers without prior notice. Reward redemption limits, expiry (for example, six months from credit), and use on gold purchases are as published in the App and reward policy.

Intellectual Property Rights

All intellectual property in the App, brand, software, and content (including copyrights, trademarks, and trade names) belongs to SHIVARYAA INNOVATIONS PRIVATE LIMITED or its licensors. No IP rights are transferred to you. Material on the App is for your personal, non-commercial use only. You must not copy, modify, distribute, or commercially exploit such material without prior written consent.

Termination of Agreement

We may terminate or restrict your use of the App for violation of these Terms or applicable law. You agree that Sanduk may seek injunctive or other relief for breaches causing loss. If law or regulation materially affects Services, Sanduk may suspend, modify, or discontinue features without liability except as required by law.

Limitation of Liability

Transactions are initiated by you or under your authorisation. To the maximum extent permitted by law, Sanduk shall not be liable for indirect, consequential, incidental, special, or punitive damages, including loss of profits, data, or business opportunity, arising from use or inability to use the Services.

Sanduk, its directors, officers, employees, and affiliates shall not be liable for: inability to access the Platform; substitute service costs; unauthorised access or alteration of transmissions; conduct of third parties; force majeure; communication failures; or product/service issues of partners, even if advised of possible damages.

Where liability is not excluded, Sanduk’s aggregate liability arising from a specific transaction shall not exceed the fees or commission received by Sanduk for that transaction, except where law requires otherwise.

You acknowledge that gold prices are market-linked and volatile; no return or performance is guaranteed.

Indemnification

You shall indemnify and hold harmless Sanduk, its affiliates, officers, directors, agents, and employees from claims, damages, penalties, and reasonable legal fees arising from your breach of these Terms, privacy policy, applicable law, or infringement of third-party rights.

Force Majeure

Sanduk and partners shall not be liable for failure or delay due to events beyond reasonable control, including war, riots, natural disasters, pandemics, government action, strikes, utility failures, hacking, or similar events. Affected parties shall notify and use reasonable efforts to mitigate impact.

Change in Law

If law or regulation materially restricts Digital Gold Services or Platform Services, Sanduk may suspend, modify, or discontinue features. Sanduk will use reasonable efforts, subject to law, to facilitate sale, delivery, redemption, or transfer of your balance through SafeGold or another partner.

Assignment

You may not assign your rights or obligations under these Terms without Sanduk’s prior written consent.

Dispute, Governing Law & Jurisdiction

This Agreement is governed by the laws of India. Subject to amicable resolution, courts at Ahmedabad, Gujarat shall have exclusive jurisdiction.

Disclaimers

We may add, modify, or remove features without notice. Content is downloaded at your risk; Sanduk does not warrant that files are error- or virus-free.

Except as expressly stated, Services are provided “as is” and “as available”. We disclaim warranties of merchantability, fitness for a particular purpose, and non-infringement to the extent permitted by law.

If you have a dispute with another user or third party, you release Sanduk and its affiliates from claims arising from such disputes to the extent permitted by law.

Contact Us

SHIVARYAA INNOVATIONS PRIVATE LIMITED
Ahmedabad, Gujarat, India
Email: [email protected]