Terms and Conditions — Megaastone Weallth Finserv
Last Updated: 04 August 2026
These Terms and Conditions ("Terms") govern your access to and use of the Megaaston Weallth Finserv mobile application ("App"), operated by Megaaston Weallth Finserv, an AMFI-registered Mutual Fund Distributor (ARN-124929) ("Company", "we", "us", "our").
By downloading, accessing, or using the App, you ("User", "you", "Client") agree to be bound by these Terms. If you do not agree, do not use the App.
1. Eligibility
- You must be at least 18 years of age and legally competent to enter into a binding contract under the Indian Contract Act, 1872, to create and operate an account on the App in your own name.
- Accounts for minors may be operated only through a parent or legal guardian in accordance with applicable mutual fund regulations.
- You must be an existing or onboarded client of Megaastone Weallth Finserv, or complete the requisite KYC and client onboarding process, before transacting through the App.
- You are responsible for ensuring all information you provide (identity, KYC, bank, nominee details) is true, accurate, and current.
2. Nature of Services
- Megaastone Weallth Finserv ( Kishor Mhaskar ) is registered with AMFI as a Mutual Fund Distributor (ARN-124929). We are not registered with SEBI as an Investment Adviser under the SEBI (Investment Advisers) Regulations, 2013.
- The App facilitates execution of mutual fund transactions (purchase, redemption, switch, SIP registration, SIP top-up, STP, SWP) and portfolio/statement viewing. It does not provide personalized investment advice, portfolio management, or any service requiring SEBI RIA/PMS registration.
- Any general information, scheme comparisons, or educational content provided in the App or by our representatives is for informational purposes only and should not be construed as a recommendation or solicitation to invest in any particular scheme.
- All investment decisions made through the App are made solely at your discretion and risk.
- Transactions are processed through our technology partner Cybrilla / MF Stack, operating over the ONDC Financial Services Network, and routed to Asset Management Companies (AMCs) via their Registrar & Transfer Agents (RTAs) or applicable exchange platforms (e.g., BSE StAR MF / NSE NMF II).
3. KYC and Onboarding
- You must complete KYC (Know Your Customer) as mandated by SEBI and PMLA (Prevention of Money Laundering Act, 2002) before any transaction can be processed.
- KYC verification is carried out through SEBI-registered KYC Registration Agencies (KRAs). We are not responsible for delays caused by KRA verification processes outside our control.
- You are responsible for keeping your KYC information updated, including changes in address, bank details, or nominee information.
4. Transactions
- All transaction requests (purchase, redemption, switch, SIP, etc.) submitted through the App are executed subject to the applicable scheme's terms, NAV applicability rules, and cut-off timings as prescribed by SEBI/AMFI and the respective AMC.
- We do not guarantee execution at any specific NAV; applicable NAV is determined as per SEBI-mandated cut-off time and payment realization rules.
- Transaction requests may fail or be delayed due to reasons including but not limited to insufficient funds, bank server downtime, incomplete KYC, technical failure, or force majeure events. We are not liable for losses arising from such delays where the cause is outside our reasonable control.
- You are solely responsible for reviewing transaction confirmations, contract notes, and statements, and for reporting discrepancies within [7 days / FILL IN] of the transaction.
5. Fees and Commission
- Megaastone Weallth Finserv, as a mutual fund distributor, may earn commission/trail brokerage from AMCs for schemes distributed through the App, in accordance with AMFI/SEBI regulations. This does not result in any additional cost to you beyond the scheme's standard expense ratio.
- We do not charge you a separate advisory fee for services rendered in our capacity as a distributor.
6. Risk Disclosure
- Mutual fund investments are subject to market risk. Please read the Scheme Information Document (SID), Statement of Additional Information (SAI), and Key Information Memorandum (KIM) of each scheme carefully before investing.
- Past performance of any scheme is not indicative of its future performance.
- Neither Megaastone Weallth Finserv nor its technology partners guarantee any return, capital protection, or investment outcome.
- You acknowledge that all investment decisions carry inherent risk, including risk of capital loss, and that such decisions are made independently by you.
7. User Obligations
You agree that you will not:
- Provide false, misleading, or fraudulent information during KYC or onboarding
- Use the App for any unlawful purpose, including money laundering or circumventing PMLA/FEMA regulations
- Attempt to reverse-engineer, hack, or interfere with the App's security or infrastructure
- Share your login credentials or OTPs with any third party
- Use the App on behalf of another person without proper documented authorization (e.g., Power of Attorney)
You are solely responsible for maintaining the confidentiality of your login credentials and for all activities conducted under your account.
8. Third-Party Services
The App integrates with third-party infrastructure providers, including Cybrilla/MF Stack (ONDC Financial Services Network), KRAs, AMCs, RTAs, payment gateways, and banking partners. We are not responsible for outages, errors, or data handling practices of these third parties beyond our reasonable oversight as your distributor. Their respective terms and policies may also apply to your transactions.
9. Intellectual Property
All content, branding, trademarks, logos, and software underlying the App are the property of Megaastone Weallth Finserv or its licensors. You may not copy, modify, distribute, or create derivative works from any part of the App without prior written consent.
10. Limitation of Liability
- To the maximum extent permitted by law, Megaastone Weallth Finserv shall not be liable for any indirect, incidental, consequential, or special damages arising from your use of the App, including but not limited to investment losses, missed transaction windows, or technical downtime.
- Our liability, where established, shall be limited to direct damages proven to arise from our proven negligence or willful default, and shall not exceed fees earned from the User in the preceding 12 months, subject to applicable law.
- Nothing in these Terms limits liability that cannot be excluded under Indian law, including liability for fraud or willful misconduct.
11. Grievance Redressal
For any complaints or grievances regarding App usage, transactions, or data handling, contact:
Grievance Officer: Kishor Mhaskar
Email: megaastonweallth33715@gmail.com
Phone: 8390667129
We will acknowledge and address grievances in accordance with SEBI/AMFI-mandated timelines. Unresolved grievances may be escalated to AMFI, SEBI (via SCORES portal), or the Data Protection Board of India (for data-related grievances under the DPDP Act).
12. Suspension and Termination
- We reserve the right to suspend or terminate your access to the App, without prior notice, in cases of suspected fraud, regulatory non-compliance, KYC failure, or violation of these Terms.
- You may discontinue use of the App at any time; however, your underlying mutual fund holdings and obligations survive termination of App access and continue to be governed by the applicable scheme documents and regulatory framework.
13. Amendments
We may revise these Terms from time to time to reflect regulatory changes, business requirements, or operational updates. Continued use of the App after such changes constitutes acceptance of the revised Terms. Material changes will be notified via the App or registered email/contact.
14. Governing Law and Jurisdiction
These Terms shall be governed by the laws of India. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts at Thane / Mumbai, Maharashtra, subject to applicable SEBI/AMFI dispute resolution mechanisms (including arbitration or ODR mechanisms as may be mandated by SEBI circulars, where applicable).
15. Contact Us
For questions regarding these Terms, contact:
Megaastone Weallth Finserv
MFD Name : Kishor Mhaskar
AMFI Registration Number: ARN-124929
Registered Address: Vasind, Thane
Email: megaastonweallth33715@gmail.com
Phone: 8390667129