Niyyam — Refund & Cancellation Policy
Effective Date: 4th March 2026
Platform / Controller: Niyyam, operated by Tech Margon Wealth Pvt. Ltd., Bangalore, Karnataka, India.
Contact / Grievance Officer: Ashok Prasad
Email: ashok@niyyam.com
1. Purpose
This policy outlines the terms, conditions, and procedures for:
Refunds of payments made via Niyyam
Cancellation of transactions, subscriptions, or services
Handling disputes regarding failed or reversed transactions
It ensures transparency, compliance with regulatory requirements, and user trust.
2. Scope
This policy applies to all:
Users of Niyyam, including investors, policyholders, and service subscribers
Financial transactions, including mutual fund purchases, insurance premium payments, and other services
Subscriptions or platform-related fees, if any
3. Refund & Cancellation Principles
3.1 Refund Eligibility:
Refunds will be provided only when permitted by regulatory rules, third-party providers, or transaction errors.
Examples include:
Failed or duplicate payments
Cancellations within cooling-off periods defined by SEBI/AMFI/IRDAI
Reversal of incorrect charges
3.2 Non-Refundable Items:
Service fees, platform charges, or third-party processing fees may not be refundable unless explicitly stated.
Investments made in mutual funds are subject to scheme rules; Niyyam does not guarantee fund redemption timelines.
Insurance premiums may not be refundable beyond the free-look period defined by IRDAI.
3.3 Cancellation Procedures:
Users may cancel a transaction via the Platform or by contacting the Grievance Officer within applicable regulatory timelines.
Cancellation requests should include:
User name and account ID
Transaction ID or reference number
Reason for cancellation
4. Processing Timeline
Refunds or cancellations will be processed as per the regulatory guidelines or the policies of third-party providers (AMCs, insurers, banks).
Typical timelines:
Mutual fund redemption: 1–5 business days (as per SEBI guidelines)
Insurance free-look cancellation: 15–30 days (as per IRDAI rules)
Platform or subscription refunds: within 7–10 business days
Users will receive a confirmation notification once the refund or cancellation is processed.
5. Method of Refund
Refunds will be credited to the original payment method used for the transaction (bank account, UPI, or card).
Niyyam does not issue cash refunds unless specifically authorized.
Any processing or banking charges may be deducted, as applicable.
6. Dispute Resolution
If a refund or cancellation is delayed or denied, users can:
Contact the Grievance Officer at [Grievance Officer Email] or [Phone Number]
Escalate unresolved issues via the Grievance Redressal Policy
Niyyam will investigate and provide a resolution in accordance with regulatory requirements.
7. Limitations & Disclaimers
Refunds are subject to regulatory restrictions and third-party policies; Niyyam is not liable for delays outside its control.
Users are responsible for providing accurate transaction and account details.
Niyyam reserves the right to modify this policy with prior notice or updated platform terms.
8. Contact & Grievance Officer
For refund or cancellation requests:
Grievance Officer:
Tech Margon Wealth Pvt. Ltd. (Niyyam)
Email: ashok@niyyam.com
Postal Address: 1,2 A1 Block, 4th Floor, Above Chef Bakers’ ITPL Main Road, Near Brookefield Hospital, Kundanhalli, Bangalore-560037, Karnataka
