1. BACKGROUND, OBJECTIVES AND SCOPE

1.1 Background:

Godrej Finance Limited (“GFL” or “the Company”),is a part of the Godrej Group which has an established reputation of honesty, integrity and sound governance over the years. The Company is, therefore, committed to maintaining the highest standards of Corporate Governance in its conduct towards shareholders, employees, regulators, customers, suppliers, lenders and other stakeholders. The Company’s philosophy of corporate governance is to achieve business excellence by enhancing the long-term welfare and value forits various stakeholders. The Company believes that corporate governance is about creating organisations that succeed in the marketplace with the right approach and values.

The Reserve Bank of India vide Paragraph 75 of Chapter XI of Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 dated 01^st September, 2016 (RBI Directions) as updated from time to timehas prescribed that Non-Banking Financial Companies (‘NBFCs’)should frame their Internal Guidelines on Corporate Governance with the approval of the Board of Directors and host it on website.

Accordingly, the Company has framed its Internal Guidelines on Corporate Governance(“CG Guidelines”) with the approval of its Board of Directors.

1.2  Objective:

The objective of the CG Guidelines is to adopt the best standards of Corporate Governance through transparency in business ethics, accountability & required disclosure to its customers, the government/ regulatory authorities and other stakeholders.

2. BOARD OF DIRECTORS:

The Board of Directors of the Company (“Board”)is the apex body constituted by the Shareholders for overseeing the Company’s overall functioning. The Board provides and evaluates the Company’s strategic directions, management policies and their effectiveness and ensures that Shareholders’ long-term interests are being served.

The Board along with the Committees constituted by it shall provide leadership and guidance for management of the Company.

It will be ensured that each of the Directors of the Company is eligible for appointment on the Board as per the Companies Act, 2013 (“Act”) and meets the Fit & Proper criteria prescribed by the Fit & Proper policy in line with the Chapter XI Corporate Governance of RBI Directions.

The Company recognizes the importance of having a Board comprising of Directors who have a range of experiences, capabilities and diverse points of view. The Board of Directors of the Company are expected to have experience, expertise, capabilities as under:

• Experience in Strategy & Business
• Industry Expertise
• Market Expertise
• Technology Perspective
• People & Talent Understanding
• Expertise in Governance, Finance & Risk
• Diversity of Perspective

2.1 The Board’s major responsibilities will be as under:

The Directors shall act in accordance with the duties as provided under the Act, prescribed regulations by Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and other applicable regulations as specified by the regulators from time to time. The Independent Directors shall abide by the Code for Independent Directors under the Act. Further, the Board shall periodically review Compliance Reports of all laws applicable to the Company as well as steps taken by the Company to rectify instances of non-compliance.

2.2 The Board’s strength: shall be as per the constitutional documents of the Company. The Composition of the Board will be as per the applicable provisions of the Act, regulatory requirements prescribed by RBI and other applicable regulations as specified by the regulators from time to time.

2.3 Fit and Proper Policy- The Company will have a Fit and Proper Policy, in accordance with the regulatory requirements, for ascertaining the fit and proper criteria of the Directors at the time of appointment, and on a continuing basis.

2.4 Declaration and Undertaking from the Directors- The Company to obtain a declaration and undertaking from all its directors giving information as per the Act, regulatory requirements prescribed by the RBI and other applicable regulations as specified by the regulators from time to time.

2.5 Deed of Covenants- The Company will get the Deed of Covenants signed with each of its Directors, as per the format prescribed by RBI.

2.6 Meetings of the Board of Directors- The Board meetings shall be held atleast 4 times in a year, such that not more than 120 days shall intervene between 2 consecutive meetings. However, in case of any business requirements, the Board meeting can be held at any time within the prescribed guidelines.

2.7 Information to be provided to the Board:

a)Strategy, annual operating plans and budgets, capital budgets,any updates thereon and periodic reviews of performance of the Company.

b)Quarterly results of the Company.

c)Constitution of, delegation of authority to and terms of reference of various committees constituted by the Board.

d)Minutes of meetings of various committees of the Board of Directors.

e)Review of Policies and control systems.

f)Amendments/ updates in the applicable regulations.

g)Modifications in the Memorandum & Articles of Association, Delegation of Authority etc.

h)Non-compliance of any regulatory/ statutory requirements, regulatory/ statutory show cause notice/ penalty etc.

i)Transactions that involve substantial payment towards goodwill, brand equity or intellectual property.

j)Sale of material nature of investments, subsidiaries, assets, which is not in the normal course of business.

k)Information on recruitment and remuneration of senior officers just below the Board level.

l)All information which is reasonably required by the Board/ Director to carry out their functions and duties and to take informed decisions in respect of matters brought before the Board for its consideration or entrusted to the Director by the Board or any committee thereof.

2.8 Quarterly Statement to RBI- The Company shall furnish a quarterly statement on change of directors, and a certificate from the Managing Director to the RBI confirming that fit and proper criteria in selection of the directors has been followed. The statement submitted by the Company for the quarter ending March 31, shall be certified by its Statutory Auditors.

2.9 Chief Risk Officer – Paragraph71of the Master Directions state that a company is required to appoint a Chief Risk Officer (CRO) and when it crosses Rs. 5,000 crore of asset size. As and when company meets the prescribed amount criteria, a Chief Risk Officer shall be appointed.

3. COMMITTEES CONSTITUTED BY THE BOARD

Brief details of various committees constituted by the Board are as follows:

The above Committees are formed in accordance with the provisions of the Act, circulars / directions /notifications issued by RBI as applicable to the Company as a Systemically Important Non-Deposit Taking Non -Banking Financial Company including the RBI Corporate Governance Directions,other applicable regulations as specified by the regulators from time to time and forinternal requirements & operational convenience. The Board may decide to constitute any other committee to be part of the abovementioned structure.

4. DISCLOSURE AND TRANSPARENCY:

4.1 The Company shall put up to the Board of Directors, at regular intervals the following:

a) the progress made in putting in place a progressive risk management system and risk management policy and strategy followed by the NBFC;

b) conformity with corporate governance standards viz., in composition of various committees, their role and functions, periodicity of the meetings and compliance with coverage and review functions, etc.

4.2 The Company shall also disclose the following in theirs:

(a) Registration/ license/ authorization obtained from other financial sector regulators.

(b) Ratings assigned by credit rating agencies and migration of ratings during the year.

(c) Penalties, if any, levied by any regulatory authority.

(d) Information namely, area, country of operation and joint venture partners with regard to joint ventures and overseas subsidiaries.

(e) Asset-Liability profile, extent of financing of parent company products, NPAs and movement of NPAs, details of all off-balance sheet exposures, structured products issued by them as also securitization/ assignment transactions and other disclosures, as per the format prescribed by the RBI.

(f) Disclosure on Liquidity Risk

(g) Disclosures as prescribed in RBI notification dated October 22, 2021 on Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs

(h) Disclosures as prescribed in RBI notification dated April 19, 2022 on Disclosures in Financial Statements- Notes to Accounts of NBFCs

(i) Loans to Directors, Senior Officers and relatives of Directors

(j) Any other disclosure required as per the regulatory/ supervisory directions.

5.  ROTATION OF PARTNERS OF THE STATUTORY AUDITORS AUDIT FIRM:

The Company shall rotate the partner/s of the Statutory Auditors firm conducting the audit, every 3 years so that same partner shall not conduct audit of the Company continuously for more than a period of 3 years. However, the partner so rotated shall be eligible for conducting the audit of the Company after an interval of 3 years. The Company shall incorporate appropriate terms in the letter of appointment of the firm of auditors to ensure compliance.

6. APPROVAL AND REVIEW OF THE POLICY:

• There shall be an annual review of the CG Guidelines (Policy) by the Board of Directors.
• Board of Directors can at any time modify or amend, either the whole or any part of CG Guidelines (Policy).  

Schedule IV of Companies Act, 2013
[Section 149(8)]
CODE FOR INDEPENDENT DIRECTORS
 

The Code is a guide to professional conduct for Independent Directors. Adherence to these standards by Independent Directors and fulfilment of their responsibilities in a professional and faithful manner will promote confidence of the investment community, particularly minority shareholders, regulators and companies in the institution of independent directors.
 

Guidelines of professional conduct:
 

An independent director shall:
 

• uphold ethical standards of integrity and probity;
• act objectively and constructively while exercising his duties;
• exercise his responsibilities in a bona fide manner in the interest of the company;
• devote sufficient time and attention to his professional obligations for informed and balanced decision making;
• not allow any extraneous considerations that will vitiate his exercise of objective independent judgment in the paramount interest of the company as a whole, while concurring in or dissenting from the collective judgment of the Board in its decision making;
• not abuse his position to the detriment of the company or its shareholders or for the purpose of gaining direct or indirect personal advantage or advantage for any associated person;
• refrain from any action that would lead to loss of his independence;
• where circumstances arise which make an independent director lose his independence, the independent director must immediately inform the Board accordingly;
• assist the company in implementing the best corporate governance practices.
   

Role and functions
 

The independent directors shall:
 

• help in bringing an independent judgment to bear on the Board’s deliberations especially on issues of strategy, performance, risk management, resources, key appointments and standards of conduct;
• bring an objective view in the evaluation of the performance of board and management;
• scrutinize the performance of management in meeting agreed goals and objectives and monitor the reporting of performance;
• satisfy themselves on the integrity of financial information and that financial controls and the systems of risk management are robust and defensible;
• safeguard the interests of all stakeholders, particularly the minority shareholders;
• balance the conflicting interest of the stakeholders;
• determine appropriate levels of remuneration of executive directors, key managerial personnel and senior management and have a prime role in appointing and where necessary recommend removal of executive directors, key managerial personnel and senior management;
• moderate and arbitrate in the interest of the company as a whole, in situations of conflict between management and shareholder’s interest.
   

Duties:
 

The independent directors shall:
 

• undertake appropriate induction and regularly update and refresh their skills, knowledge and familiarity with the company;
• seek appropriate clarification or amplification of information and, where necessary, take and follow appropriate professional advice and opinion of outside experts at the expense of the company;
• strive to attend all meetings of the Board of Directors and of the Board committees of which he is a member;
• participate constructively and actively in the committees of the Board in which they are chairpersons or members;
• strive to attend the general meetings of the company;
• where they have concerns about the running of the company or a proposed action, ensure that these are addressed by the Board and, to the extent that they are not resolved, insist that their concerns are recorded in the minutes of the Board meeting;
• keep themselves well informed about the company and the external environment in which it operates; not to unfairly obstruct the functioning of an otherwise proper Board or committee of the Board;
• pay sufficient attention and ensure that adequate deliberations are held before approving related party transactions and assure themselves that the same are in the interest of the company;
• ascertain and ensure that the company has an adequate and functional vigil mechanism and to ensure that the interests of a person who uses such mechanism are not prejudicially affected on account of such use;
• report concerns about unethical behaviour, actual or suspected fraud or violation of the company’s code of conduct or ethics policy;
• acting within his authority, assist in protecting the legitimate interests of the company, shareholders and its employees;
• not disclose confidential information, including commercial secrets, technologies, advertising and sales promotion plans, unpublished price sensitive information, unless such disclosure is expressly approved by the Board or required by law.
   

Manner of appointment:
 

• Appointment process of independent directors shall be independent of the company management; while selecting independent directors the Board shall ensure that there is appropriate balance of skills, experience and knowledge in the Board so as to enable the Board to discharge its functions and duties effectively.
• The appointment of independent director(s) of the company shall be approved at the meeting of the shareholders.
• The explanatory statement attached to the notice of the meeting for approving the appointment of independent director shall include a statement that in the opinion of the Board, the independent director proposed to be appointed fulfills the conditions
• specified in the Act and the rules made thereunder and that the proposed director is independent of the management.
• The appointment of independent directors shall be formalized through a letter of appointment, which shall set out:
  
  
  • the term of appointment;
  • the expectation of the Board from the appointed director; the Board-level committee(s) in which the director is expected to serve and its tasks;
  • the fiduciary duties that come with such an appointment along with accompanying liabilities;
  • provision for Directors and Officers (D and O) insurance, if any;
  • the Code of Business Ethics that the company expects its directors and employees to follow;
  • the list of actions that a director should not do while functioning as such in the company; and
  • the remuneration, mentioning periodic fees, reimbursement of expenses for participation in the Boards and other meetings and profit related commission, if any.
• The terms and conditions of appointment of independent directors shall be open for inspection at the registered office of the company by any member during normal business hours.
• The terms and conditions of appointment of independent directors shall also be posted on the company’s website
  .

Re-appointment:

The re-appointment of independent director shall be on the basis of report of performance evaluation.
 

Resignation or removal:

 

• The resignation or removal of an independent director shall be in the same manner as is provided in sections 168 and 169 of the Act.
• An independent director who resigns or is removed from the Board of the company shall be replaced by a new independent director within three months from the date of such resignation or removal, as the case may be.
• Where the company fulfils the requirement of independent directors in its Board even without filling the vacancy created by such resignation or removal, as the case may be, the requirement of replacement by a new independent director shall not apply.
   

Separate meetings:
 

• The independent directors of the company shall hold at least one meeting in a financial year, without the attendance of non-independent directors and members of management;
• All the independent directors of the company shall strive to be present at such meeting;
• The meeting shall:
  • review the performance of non-independent directors and the Board as a whole;
  • review the performance of the Chairperson of the company, taking into account the views of executive directors and non-executive directors;
  • assess the quality, quantity and timeliness of flow of information between the company management and the Board that is necessary for the Board to effectively and reasonably perform their duties.
     

Evaluation mechanism:
 

• The performance evaluation of independent directors shall be done by the entire Board of Directors, excluding the director being evaluated.
• On the basis of the report of performance evaluation, it shall be determined whether to extend or continue the term of appointment of the independent director.
   

I. APPLICABILITY

These Terms & Conditions are applicable to all marketing and promotional material (Content) issued by GFL in any form and media, physical or digital or any other platform. This shall be considered a General Disclaimer for all the Content.
 

Please read the Terms and Conditions (“Terms”) provided below carefully as they will govern conduct, rights, responsibility, and obligations of a User with regard to website of Godrej Finance Limited (“GFL”).
 

II. INTRODUCTION

Godrej Finance Limited is a Non-Banking Financial Company (NBFC) registered with Reserve Bank of India (RBI) engaged in the business of providing finance solutions to the eligible applicants. For acquainting prospective borrowers about its brand, its products, and offerings GFL has issued various types and kinds of material on its website.

III. RBI DISCLAIMER

“Godrej Finance Limited” is having a valid Certificate of Registration (Without permission to accept Public Deposits) dated 03rd December, 2021 issued by the Reserve Bank of India. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company or for the correctness of any statements or representations made or opinions expressed by the Company and for repayment of deposits/discharge of liabilities by GFL.

IV. DEFINITIONS

Contents means and includes any material, information, advisory, calculators, FAQs, data or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc., whether belonging to GFL or to its associates, partners and other group entities, which is available either directly or through marketing or Promotional Material of GFL, displayed, hosted on the Website or on any other website or available in print / digital, audio, video or any other media anywhere.

Consumer/User refers to the person (s) who is / are viewing/exposed to the Content through any media form or manner. In the document all reference to “You”, “Us”, “Me”, “We” and “I” shall be to Consumer/User.

Website shall refer to any website on which Content is being displayed/hosted.

V. DECLARATION & USE OF CONTENT

• I have willingly and with my consent agreed to visit this Website.

• I / we understand that GFL uses a third party offering for Website and GFL does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GFL

• I / we understand that the financial products / services provided through Website on acceptance will lead creation of financial liability towards GFL.

• I/We agree and understand that GFL may collect information provided by me/ us during visit to Website and I/ We shall not dispute this retention.

• I/We agree and declare that we shall keep all details, documents and media or any other information related to the Website as confidential and will take prior permission from GFL before sharing it with any third party

• The user acknowledges that in order to fully access the Website he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GHF does not assume any responsibility/liability if the User is not able to go through the Website due to absence/ insufficiency of the required internet connection.

• GFL will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible to run the website and will not be a party to same.

• The User shall be responsible in obtaining and maintaining all computer hardware and other equipment needed for access to this Website.

VI. DECLARATION FOR MARKETING MATERIAL

• I / we understand that hosting of any residential / non-residential Project details / any other product offering or branding in Website is not endorsement of it by GFL and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.

• Content shall not be regarded as an offer, solicitation, invitation, advice or recommendation to buy/sell financial products of GFL or any of its group entities.

• Content is designed for informative purposes only. User is advised to go through Finance Documents before taking any product or service from GFL.

• Decision to offer any Product to Consumer shall be solely of GFL.

• Periodicity of any offer shall be decided by the GFL and any offer declared may be closed without further notice.

• The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GFL and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GFL in individual cases upon receiving necessary information and documents..

• You are advised to verify any information / details regarding any project or site including RERA details from the official sources.

• GFL shall be liable and responsible only for the Content which it has issued in its name and in event, the logo, branding name or any other determinative or identifier related to GFL is used by any other entity, with or without GFL permission, for any purpose including for offering any loan through any partnership or otherwise, the Consumer is advised to review the veracity of claim before making any decision. No liability and responsibility shall accrue to GFL.

• Any Content which conflicts with any provision of law or regulation shall be considered to be null and void ab initio

• Adjectives are to be understood in a broader term and not literally. Easy to understand language has been used for delivery of messages and difficult / industry parlance has been avoided. In case of doubt, please contact branch or contact centre

VII. INTELLECTUAL PROPERTY

The Content belongs to GFL and cannot be used by Consumer in any manner without prior express written permission of GFL. Hosting of Content on a public forum does not dilute the ownership of GFL.

VIII. NO REPRESENTATION OR WARRANTY 

No information sent to any User through the Content shall constitute any representation, warranty by GFL regarding creditworthiness, financial performance or prospects, solvency, of any User or any other legal entity.

GFL may at any time update, remove, replace, edit, alter any information in whole or in part forming part of Content & shall not be held responsible for any matters arising out of said.

In the event, the Website contains links to other Websites of affiliate or group company of GFL, the content, products, services offered on such linked websites, or any quality of the products/services are not endorsed, verified, or monitored by GFL.

IX. DAMAGES & LIMITATION OF LIABILITY

In no event shall GFL, its Directors, employees or its affiliates be liable for any direct, indirect punitive, incidental, special, consequential damages of any nature whatsoever arising or connected with use or performance of Website including but not limited to any loss, damage, expense arising from any defect, error, omission, interruption, fault, mistake or inaccuracy.

X. AMENDMENT

GFL reserves the right to change the information provided on or via Content, at any time and without notice. GFL shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this Content.

XI. GOVERNING LAW

The Website and terms and conditions shall be governed by and construed in accordance with applicable laws of India. All disputes arising out of or in connection with these terms and conditions shall be submitted to exclusive jurisdiction of Courts of Mumbai.

Please read the Terms and Conditions provided below carefully as they will govern the “Instant Sanction” & “Digital Journey” which an User will have with Godrej Finance Limited (“GFL”) or ("Company")

Definitions

Acceptance is acceptance to any type of terms & conditions which are applicable to usage of the Digital Journey. For application form and sanction letter or offering of any kind which is made to the User by the Company through any of the mode (a) OTP, (b) email acceptance, (c) e-sign or (d) any other mode introduced by Company.
Agents, all co-applicant/s and main applicant/s are agents of each other and capable of providing consent / take any other action on their behalf.

Co-Applicant is an applicant whose name comes post Main Applicant in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A co-applicant will act as an agent of main applicant. There may be multiple co-applicants. Main applicant and co-applicants are together referred to as applicants. Acceptance by the Applicant shall be deemed acceptance by the Co-Applicant(s)

Content means and includes any material, information, advisory, calculators, FAQs, data, or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc, whether or not belonging to GFL, which is available hosted, displayed either directly or through a link or pathway on Website.

Digital Journey is a process hosted on digital media, which may or may not have support of (a) in-person Company employee / representative, (b) tele-support by GFL employee / representative or (c) co-browsing chat bot, through which GFL allows User to participate in its Risk Qualification Process wherein he may be offered to opt for different loan products / other products by GFL subject to User qualifying to the internal policies of GFL. In the event, User qualifies, a Sanction Letter shall be shared with them, however, acceptance of Sanction Letter is the sole decision of User.

Digital Journey: Digital Journey together with Instant Sanction is referred to as Digital Journey.

E-Sign is an IT enabled facility provided with the help of independent Telecom Companies which is one of the facilities used by the User to give their acceptance to the Company.

Godrej Finance Limited is a Non Banking Financial Company (NBFC) registered with Reserve Bank of India. It may be referred to as either GFL or Company interchangeably.

Instant Sanction is a process which may or may not have support of (a) in-person GFL employee / representative / agent, (b) tele-support by GFL employee / representative or (c) co-browsing chat bot, wherein GFL will convey to the User sanctioned amount which will be an in-principle non-binding sanction on either party basis the limited information shared by the customer and qualifies him to participate further in Digital Journey / normal loan process leading to full appraisal of his credit eligibility.

Main Applicant is the applicant whose name comes first in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A main applicant will act as an agent of co-applicant. Main applicant and co-applicants are together referred to as applicants.

OTP or One Time Password is a SMS based confirmation facility provided with the help of independent Telecom Companies which is one of the facilities used by the User to give their acceptance to the Company.

Risk Qualification Process is the internal credit process of the company which is proprietary to the Company which is to be decided solely by the company.

Sanction Letter is a document containing terms and conditions specific to the grant of loan amount to the User.

User refers to the Main Applicant who is submitting its Co-Applicant(s) personal information with its/his/their own consent to GFL for the purpose of participating in Instant Sanction & Digital Journey and who shall be bound by the Terms and Conditions mentioned herein. All the applicants working either individually or together for going through Instant Sanction or Digital Journey will be referred collectively as User. In the document all reference to “You”, “Us”, “Me”, “We” and “I” shall be to User.

Introduction

This is a binding arrangement between you, the user, and GFL, establishing the terms and conditions under which the Digital Journey may be undertaken by the User. By accessing, through any means and media this Digital Journey, you agree to be bound irrevocably by these terms and conditions. In the event of any conflict between the terms and conditions of specific products or services and terms and conditions of Digital Journey, the conditions specific to such products or services shall prevail.

User Declaration

I declare that I having willingly and with my consent agreed to be part of the “Digital Experience” and that I will share all the particulars and information as is required in this Digital Experience in truthful, accurate and complete manner and understand that they shall form the basis of any decision by the Company to consider me for grant of any loan / credit facility / other offering which GFL may decide to grant me.

I / we declare that in event an application is applied by multiple users then consent by Main applicant to use the information shall be deemed to be consent by all.

I/We expressly authorise GFL or any of its group entities / authorised agents & representatives to carry out the all requisite checks by such processes as may be permissible under law for considering my application for loan including but not limited to

I/We hereby are aware and declare that in event information including but not limited to as produced below is required from any third party website whether regulatory or otherwise for completion of the Digital Journey process, the Company may access data of the User through such third party website. However, the Company shall not be liable for any data, information displayed or shared or acts, deeds of such third party or information provided by the Users.

• KYC checks and / or KYC processes such as Video KYC, Aadhar offline verification or any other approved KYC mechanism,
• Obtaining credit history from Credit Information Companies,
• Obtaining / conducting credit verification checks,
• Accessing my Bank records,
• Verifying my income and expenses
• Verifying my contact details
• Employment verification,
• accessing and procuring data from databases maintained by statutory or other authorities constituted by law
• Authentication / verification of documents submitted by me or which comes into possession of company during Risk Qualification Process or
• Any other details submitted during the journey, and
• Any other check which the GFL may deem fit and necessary

I /we understand that hosting of any Content, project details/any other product offering or branding on Website is not endorsement of it by GFL and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.

I / we understand that we may have to use any third party offering during this Digital Journey process and GFL does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GFL.

I / we understand that the financial products / services provided through Digital Journey on acceptance will lead creation of financial liability towards GFL.

I/We confirm that in event we approach Company through a third party such as a DSA/Connector/ Digital Agent (“Agents”), we authorize such Agents to provide our information to the Company and/or keep track of the Application and/or perform such acts related to the Application on our behalf. We declare that sharing our information with such Agents shall be deemed that we have provided consent to them to share it onwards with Company for processing of loan application.We are aware that the Company may based on such consent provided to Agentproceed to verify, evaluate Application or eligibility of the Applicants.

I/We agree and understand that GFL reserves its right to retain the documents / information provided by me/ us even in case I / we do not qualify under the Risk Qualification Process and I/ We shall not dispute this retention.

I/We agree and declare that we shall keep all details, documents and media or any other information related to the Digital Journey process as confidential and will take prior permission from GFL before sharing it with any third party.

The user acknowledges that in order to fully access the Digital Journey he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GFL does not assume any responsibility/liability if the User is not able to go through the Digital Journey due to absence/ insufficiency of the required internet connection.

GFL will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible to run the website and will not be a party to same.

The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GFL and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GFL in individual cases upon receiving necessary information and documents.

The user shall be responsible in obtaining and maintaining all computer hardware and other equipment needed for access to and use this Digital Journey.

I / We agree that the Digital Journey shall be governed by the rules, guidelines, directives etc. issued by the Reserve Bank of India (RBI) or any other competent authority.

Consent for providing information

By providing your personal details and consenting to these Terms, you have consented to the Company or its Agents as the case may be to fetch your credit information from any of the four Credit Information Companies- Credit Information Bureau (India) Ltd, Equifax Credit Information Services Pvt. Ltd, Experian Credit Information Co. of India Pvt. Ltd, and CRIF High Mark Credit Information Services Pvt. Ltd. (collectively known as “CICs”).

You understand that in order to process, verify your application, you have authorized the Company or Agents, to obtain your Credit Information from CIC.

Use of Information and Materials

You are advised to exercise due caution and/or seek independent advice before availing any facility or entering into any financial obligation based on the Content you will come across in Digital Journey. The Content which you will receive in Digital Journey or other terms are provided on an “as is”, “as available” basis and are protected by copyright. You cannot distribute the Content to others without the express written consent of GFL. You cannot copy, download, publish, distribute or reproduce any of the Content which you will receive in Digital Journey in any form without prior permission of GFL.

The Content which you will receive in Digital Journey should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other instrument or financial products / schemes of GFL, or any of its group entities. Use of the products or services described on Digital Journey may not be permitted in some countries however, for more clarity, please check, with your local regulator or authority before requesting further information on such products/ services. Products and Services are available only at the discretion of GFL and its group entities, subject to the individual contractual terms and conditions of products and services on which they are offered and such products and services may be withdrawn or amended at any time without notice. The full range of products or services may not be available in all locations.

The user acknowledges and declares that Third parties assistance, by both User and GFL, may be required for using the Digital Journey and GFL does not provide any assurance or warranty for the standard or continuance of their service.

No Representation or Warranty

No information sent to any user through this Digital Journey shall constitute any representation or warranty by GFL regarding the credit-worthiness, financial performance or prospects, solvency, or viability of any company or other legal entity or the business carried on by such entity.

All information on this website is being provided under the condition and understanding that the same is not being interpreted or relied on as legal, accounting, tax, financial, investment or other professional advice, or as advice on specific facts or matters. GFL may at any time (without being obliged to do so) update, edit, alter and or remove any information in whole or in part that may be available on this Digital Journey process and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Nothing contained herein is to be construed as a recommendation to use any product or process, and GFL makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. The User is expected to keep abreast of any changes made in this website and the information available on it on a regular basis and GFL and its group entities undertake no responsibility about advising the user/clients about any such changes.

GFL makes no warranties as to the confidentiality or security of the information or messages whether personal or otherwise received through Digital Journey unless otherwise specified expressly and bound through applicable law.

Though GFL will endeavour to ensure that information contained on this Digital Journey Process is obtained from sources which, it considers, are reliable, GFL and its subsidiaries do not warrant such information’s completeness or accuracy.

Though reasonable efforts are maintained by GFL to ensure that Digital Journey process is free from all viruses no representation is being made that it is free from all defects and User is accessing it at his own risk.

Limitation of Liability

GFL, its directors and employees accept no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from your use of this Digital Journey process, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy, its Contents or associated services, or due to any inaccessibility of this Digital Journey process or any part thereof or any contents or associated services even if the Users are advised of the possibility of such damages, losses or expenses.

Acceptance

As part of Digital Journey Process the user may be asked to sign the documents such as Application form, Sanction letter etc with the aid of OTP, E-sign facility, email acceptance or any other which will lead to acceptance of the terms and is equal to the acceptance of documents in written form. Users may be asked to input their aadhar number for e-sign and share OTP for e-sign. The company does not store the AADHAR number or OTP. A copy of the signed document will be shared with the User for his record.

As Co-applicant (s) and Main applicant (s) are agents of each other and capable of providing consent / take other action on behalf of them, consent through any of the mode by any of them will be deemed as consent/acceptance by all.

Intellectual Property Rights

All rights relating to this Digital Journey process as well as its functionalities are the exclusive property of Godrej Finance Limited (particularly including but not limited to copyrights, trademarks, source code, patents as well as any other intellectual property right). All the information provided on or via this Digital Journey process (including all texts, graphics, design or logos) shall be the intellectual property of GFL and/ or its group entities. You agree not to copy, forward, download or share content without obtaining the necessary rights or permissions to do so. You also agree not to abuse the use of this Digital Journey Process.

In the event any content on the Digital Journey process or any intellectual property of GFL are copied / used by the user for any profit or non-profit venture then the User shall be liable to pay for damages as set out by GFL.

Linked Websites

This Digital Journey Process may contain links to other websites of affiliate companies or group entities of GFL. This Digital Journey Process may also contains links to external websites, having further linked websites, controlled or offered by third parties (Non-Affiliates of GFL), in order to help you find relevant websites, services and/or products which may be of interest to you, quickly and easily. The contents displayed or products / services offered on such linked websites or any quality of the products/ services are not endorsed, verified or monitored by GFL. GFL is also not responsible for the owners or operators of such external links or websites or for any products or services they supply or for the contents of their websites and do not give or enter into any conditions, warranties, express or implied; or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external websites to which this website includes a link infringes the intellectual property rights of any third party).

RBI Disclaimer

“Godrej Finance Limited (“GFL”) is having a valid Certificate of Registration (Without Permission to accept Public Deposits) dated 18.03.1998 issued by the Reserve Bank of India. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits / discharge of the liabilities by GFL”.

Governing Law

This website and the terms and conditions shall be governed by and construed in accordance with all applicable laws of India, unless stated otherwise. All disputes arising out of or in connection with these terms and conditions or use of this website shall be submitted to the exclusive jurisdiction of the courts of Mumbai. The Laws of India shall apply.

Legal Proceedings

You confirm that you have/had no insolvency proceedings against you nor have you ever been adjudicated insolvent by any court or other authority.

Amendments

GFL reserves the right to change the information provided on or via this Digital Journey Process, including these terms and conditions or to charge for its services, at any time and without notice. It is recommended that you periodically review the information provided on or via this Digital Journey Process, including these terms and conditions, periodically for changes. GFL shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this website.

Suspension and cancellation

GFL can at any time, without the need to give a reason, notice or compensation, suspend your ability to use this Digital Journey process. The suspension or cancellation of the licence to use this Digital Journey process will mean that you will no longer have any access to your data, without you having any recourse against GFL or any of its subsidiaries or its affiliates.

Accuracy and correctness of Information

You confirm that any information provided by you or any details shared for the Digital Journey process are correct and you undertake to pass on any modifications to GFL. You shall indemnify and hold GFL harmless against any loss, damage or costs suffered / incurred by GFL as a result erroneous information supplied by you or your authorized Users. Specifically, you are responsible for the confidentiality of any codes, OTP and passwords or any other credentials allowing you to use this Digital Journey process, or browsing through any other third party website or sourcesand such acts done while accessing the Digital Journey Process whether through a third-party Service Provider/DSA, Connector/ Digital Agent and access to your information as well as this use and this access by any third party, whether or not they are authorised by you. The Company shall not be liable for any acts undertaken in reference to sharing, accessing or providing information.

Communication

You agree that GFL or its group entities or their employees or agents may share all information and details as provided by you in your application in relation to your existing loans and/ or repayment history to any third party including but not limited to its group companies, service providers, banks, financial institutions, credit bureaus, telecommunication companies, statutory bodies etc. for customer verification, personalization of products and services, credit rating, data enrichment, marketing or promotion of the products or services of Godrej Finance Limited or its group entities or of any other service provider.

You agree that you consent to receiving any other information through telephone / e-mail / SMS / WhatsApp or any other electronic / digital medium for marketing purposes from any GFL / its group entities or other service provider even though your name appears in the National Customer Preference Registry (Do Not Disturb Registry). You expressly agree that any such calls/SMS/e-mails/WhatsApp messages or electronic/ digital messages will not cause any inconvenience to you or your family members.

You expressly and irrevocably consent that for any claim against the service providers, GFL or its group entities shall not be liable and your claim on this account shall be against the service providers and/or tele-callers. You agree to the use of WhatsApp or other electronic/ digital media for communication or sharing of information or documents or for sending notices, agree to abide by the terms and conditions of such applications and agree to the risks associated with such applications or sharing of information or issuance of notices through them. Further, you agree that any acceptance of terms & conditions by you through / e-mail/ SMS/WhatsApp or any other electronic/ digital medium will be binding on you.

1. For Semi-fixed pre-payment charges to be levied as per prevailing rate at time of closing
2. Refund of Fee: No refund of fee shall be allowed in any case at any point of time
3. Please note : In addition to the above fee and charges, GST, any cess & other taxes, levies etc. prescribed by the Government of India or respective state will also be charged. Further the above fee and charges are subject to change and will be at the sole discretion of GFL.
4. The Company has adopted an interest rate model based on cost of funds, cost of operations, various risks associated with the loan & security etc. An additional spread, based on the overall risk perceived, is factored in the pricing, which is function of income, credit history, credit information, profile of the borrower, internal assessment of the Company etc. Accordingly, the applicable rate of interest may be different for different customers’ loan exposures.

Godrej Finance Limited has the following Prime Lending Rates:

Turn Around Time

The Service Request Turn Around Time which should be followed in case of receipt of service request is as below:

List of Documents considered valid for verifying identity and proof of address of prospective customers

Any customer having a grievance/ complaint/ feedback with respect to the product and services offered by Godrej Finance Limited (“GFL” or “the Company”) may write to the Company’s Customer Service Department through any of the following channels:

How a complaint should be made

For proper resolution, the customer is requested to provide necessary loan details i.e. Loan Account Number, Details of Feedback/ Suggestion/ Complaint and valid Contact Information including phone no. & e-mail ID while lodging communicating with the Company.

When to expect a reply

The Company shall endeavor to address/respond to all queries/grievances within reasonable time and keep the customer in informed about the status of their complaints. Each customer query/ complaint being unique in nature, may take up to one month for complete resolution after investigation.

Click here to view form in Marathi, Hindi, Kannada, Telugu, Tamil, Gujarati

• Reserve Bank - Integrated Ombudsman Scheme, 2021

• Salient Features of Ombudsman Scheme - English, Hindi, Gujarati, Telugu, Tamil, Kannada, Marathi

• Complaint lodging portal of the Ombudsman: https://cms.rbi.org.in

Background

Godrej Finance Limited (“GFL” or “the Company”), as a Non-Banking Financial Company, is required to comply with the ‘Guidelines on Fair Practices Code’ issued by the Reserve Bank of India (“RBI”) under Chapter VI of Master Direction - Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 issued on 01st September 2016 as updated from time to time. Accordingly, it is proposed to adopt Fair Practice Code with the approval of the Board.

Objectives

• To promote good and fair practices by setting minimum standards in dealing with customers,

• To increase transparency so that the customer can have a better understanding of what he/she can reasonably expect of the services,

• To promote a fair and cordial relationship between customer and the Company.

Review of the Code

• The code shall be reviewed Annually by the Board of Directors

• Board of Directors can at any time modify or amend, either the whole or any part of Policy

• Compliance confirmation with Fair Practice Code shall be provided on Annual basis to the Board of Directors,

• Half-Yearly report on grievance redressal mechanism be put to the Board of Directors

Adherence to Fair Practice Code in Loan Process

Company shall ensure that all communications to the borrower are made either in the vernacular language or a language as understood by the borrower.

Loan Application

Loan appraisal, terms/conditions

The Company will

Interest charged by Company

Disbursement of loans including changes in terms and conditions

General Guidelines

Complaints and Grievance Redressal

Guidelines for complaint and grievance redressal are contained in Grievance Redressal Policy of the Company which is approved by the Board of Directors of Company.

Disseminating Fair Practice Code

Fair Practice Code shall be disseminated through company website in vernacular language or a language understood by Borrower.

Privacy and Confidentiality

All Personal Information of the borrowers both present and past shall be treated as Private and Confidential and shall be guided by the following principles & policies. The Company shall not reveal information or data relating to borrower accounts, whether provided by the customers or otherwise, to anyone, including our affiliates other than in the following exceptional cases:

Loans sourced over Digital Lending Platforms(DLP)

Company does not intend to extend loans through Digital Lending Platforms. However, in event a partnership is undertaken by the Company where its loans are extended through DLP either to source borrowers and/or to recover dues, Company shall follow the following instructions:

• Names of digital lending platforms engaged as agents shall be disclosed on the website of Company,
• Digital lending platforms engaged as agents shall be directed to disclose upfront to the customer, the name of the Company on whose behalf they are interacting with him,
• Immediately after sanction but before execution of the loan agreement, the sanction letter shall be issued to the borrower on the letter head of the Company,
• A copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement shall be furnished to all borrowers at the time of sanction/ disbursement of loans,
• Effective oversight and monitoring shall been sured over the digital lending platforms engaged by Company,
• Company shall also update its grievance redressal mechanism and include Digital Lending Platform under it.

Click here to view in Marathi, Hindi, Kannada, Telugu, Tamil, Gujarati

• Pune Branch
  • English
  • Marathi
• Bengaluru Branch
  • English
  • Kannada

• 2022 - 23
  • December 31, 2022
  • September 30, 2022
  • June 30, 2022
• 2021 - 22
  • March 31, 2022