Refund and Returns Policy

Effective from May 27, 2019 and onwards.


INTRODUCTION

Farm Gulp Private Limited is a Private Limited Company falling under the Government of India’s Companies Act 2013, which operates the https://farmgulp.com website (hereinafter referred to as the "Service").


The Service offers it’s users who are the visitors of the website https://farmgulp.com (the Service) (only) the information regarding the company Farm Gulp Private Limited, the Goals of the company, Purposes of the company and the products that it offers. The Service doesn’t offer any products to buy or sell online from or to any individual, company or entity.


In case the visitors of the Service are interested in any products mentioned in the Service, they are suggested to contact through the contact links given in the Service.


Please read this policy carefully. This is the "Return and Refund Policy of Farm Gulp Private Limited". 


These policies are not applicable to any government funds/grants, venture capital investments, angel investments. Whereas applicable only to crowd funds, donations, small scale investments below  5,00,000INR.


  

DEFINITIONS

Company

Company refers to Farm Gulp Private Limited, 643/3, Kannimane, Nandolli, Yellapur, North Canara, Karnataka-581359

Service

Service is the https://farmgulp.com website operated by Farm Gulp Private Limited

Investor

Investor refers to a person or entity or their nominees who believe in the company and is/are supporting the company goals, interests and initiatives in the form of monetary donations/investments.

Personal Data

Personal Data means data about a living individual who can be identified from those data (or from those and other information either in our possession or likely to come into our possession).

The personal data also includes User’s bank account number, Virtual payment addresses, user IDs, passwords, Credit, Debit Card details. 


INVESTMENTS

We accept Investments digitally through major modes of transactions applicable in Karnataka, India, from Investors interested in supporting the company goals, interests and initiatives. We issue refunds for any errors in digital transactions or if requested/initiated by the Investor themselves at most but within 30 days of time.


We acknowledge within 48 hours of a successful transaction. The acknowledgement will be sent from our authorized contact e-mail after we receive the Investment/donation from the Investor. If not received the acknowledgement mail, the Investor is requested to contact us regarding the same and the issue will be resolved at the earliest. 


Our transactions are supported by safe, end to end encrypted digital gateways from Cashfree India Private Limited, Koramangala, Bengaluru, India-560034. To know more visit their website https:/cashfree.com

To know their privacy and security policies, https://www.cashfree.com/privacypolicy.html

We recommend contacting us for assistance if you experience any issues in investments digitally or via any other modes of transactions.


For issues related to Investment made through direct Bank Deposits (We operate through Axis Bank and Kotak Mahindra Bank) and Cheques, the same if brought to our notice will be taken up for resolution. We assure to resolve such issues within 14 working days.


If the Investor, after invesying feels unworthy of making a Investment to Farm Gulp Private Limited, they can bring up an refund request through e-mailing us or contacting us through any other authorized contacts given below. 


We assure to initiate a refund within 7 working days through any mode of transaction as preferred by the Investor.


The nominee will be dormant until an official self-attested notification from the Investor. In case the Investor fails to provide the same before their death, the rights will be transferred to the nominee upon providing the Investor's death certificate copy attested by self and a witness and claiming the relation to the Investor as specified by the Investor themselves while providing the nominee details in their Investment.


In case of no nominee information from the Investor's end, after their death, the donated/invested benefits will be the property of the Company only. The board of directors hold all the rights in such case towards transferring/owning these benefits.


Taxes applicable, international currency conversion fees and payment gateway fees during the Investment/donation, refund, dividend crediting or any other transactions related to the Investor and the Company is bearable by the Investor/donor themselves.


We entrust all the personal data given or used while making all kinds of the Investments will be kept safe and undisclosed.


REFUND POLICY

The refund to the Investor varies based on the time of refund initiation claimed by the Investor.

Time of Refund Initiation Claim                                                            Eligible Refund

Before 30 days of after Investment                                                          Total (100%)

Between 31-61 days of Investment                                                          75% of Total

Between 61-120 days of Investment                                                        50% of Total

After 121 days of Investment                                                                    25% of Total                                                                  


Partial Refund initiation is allowed with the same deduction pattern applied for the amount of refund initiated. 


RETURNS POLICY (on investment, Applicable to Investors of and above 2000INR)

*The returns are subject to company's growth and profit/loss after sales.

*In case of the profit at the end of a financial year, the share of the net profit respective to the 

  Invested balance will be credited in the form of dividend to the Investor through preferred 

  modes of transactions as specified by them.

*Investors are requested to keep an update on the Company's Financial Statements and financial

  reports which will be uploaded respectively at the financial year end and quarterly in the 

  Company’s website.

*A lucky Investor who is elected to be given a 0.1% share in the company is not subjected to

  these terms. Terms of the same would be disclosed before issuing the share certificate.

*The Company holds the rights to withdraw the Investor's name from the dividend beneficiary

  list if the Investor initiates the refund claim and the Invested balance drops below 2000INR at

  any point of time. The amount refunded will be as per the refund policy applicable at the time of

  refund request initiation. 

*If the Investor initiates the refund claim before a month of financial year ending, (i.e., before

  February 28th) their Invested balance will still be eligible for a dividend as per the balance

  remaining after the refund (if above 2000INR) at that point of time. 

*Investors will be benefitted with 50% of their dividend if they request for a refund initiation

  within 31 days remaining to wind up the financial year (after Feb. 28th and before March 31st).

  However, it is mandatory to have an Invested balance of 2000INR or above applicable at the

  time of refund request initiation to avail the 50% of the respective dividend.

*In successful years of the company, after we get listed in the Stock Markets (hopefully within the

  next 2 years), the balance of the invested amount from all Investors (even those who invested 

  below 2000INR) will be converted to the number of shares as per the market value held by each

  liquified share as applicable at that particular time. The Investors will be notified initially

  regarding their consent for the same. If not agreed, the dividend plans will continue.

*In case of loss to the company in the first two financial years, the Investors won't be benefitted 

  with any dividend. However, they are free to initiate a refund as per the refund plan applicable

  at that time. 

*In case of complete shutdown of the company, company will be liable to pay it's Investors who 

  have an Invested balance of 2000INR or more a total of 30% of their balance (Note that the 

  Invested balance increases if the Investor rejects to take dividends i.e., reinvests the dividend 

  amount and the Invested balance decreases if the Investor initiates a refund of their

  Investment). 


Regarding any queries or problems related to transaction, investments or donations, please feel free to contact us


By phone number: 07676635922, 07795618099, 07411715912, 09483253802

By email: admin@farmgulp.com,

By visiting this page on our website: https://farmgulp.com/contact-us

By Post or mail: 643/3, Kannimane, Nandolli, Yellapur, Uttara Kannada, Karnataka-581359, India