Refund & Cancellation Policy

This policy is in strict compliance with the Securities and Exchange Board of India (SEBI) and the Association of Mutual Funds in India (AMFI) guidelines and aims to ensure transparency and investor protection in all mutual fund transactions facilitated by our services. Our platform facilitates mutual fund transactions using a third-party payment gateway, ensuring that all financial transactions comply with regulatory norms and safeguard investor interests.

Cancellation of Transactions

Investors may request a cancellation of a mutual fund transaction under specific conditions. If the request is made before the mutual fund transaction, including purchase, redemption, switch, or SIP registration, is executed, the cancellation may be processed without further obligations. In cases where a cooling-off period applies as per the AMC’s terms and SEBI regulations, investors may exercise their right to cancel within the stipulated period. Additionally, in circumstances where erroneous transactions occur due to technical issues, incorrect NAV application, or system failures, the cancellation request will be subject to internal verification and AMC approval. However, cancellation requests shall not be entertained if the orders have already been processed and units have been allocated, if the request is based on market-related price changes after execution, or if a redemption request has already been submitted to the AMC. Transactions will only be completed after the successful transfer of money from the customer’s registered bank account with WealthRight/Saffollya, and this money is remitted to the Asset Management Companies through a third-party payment gateway pool account.

Refund Process and Timelines

• Refunds shall be processed in circumstances including but not limited to failed transactions due to banking issues, double debits, or payment gateway failures, whereby the refund shall be initiated within five to seven working days. If an investor cancels a transaction before its execution, the full amount shall be refunded within seven to ten working days. If a transaction is found to contain errors post-execution, the refund process shall be undertaken in consultation with the relevant Asset Management Company (AMC) within a timeframe of ten to fifteen working days, subject to regulatory approvals and necessary verifications. Refunds shall be credited back through the original payment mode or any other alternative method as permitted by regulatory frameworks governing financial transactions in mutual funds. In cases where money has been successfully debited from the investor’s registered bank account but the transaction fails or is rejected, the refund shall be processed within seventy-two hours back to the registered bank account with WealthRight/Saffollya.

• For the WealthRight Coaches registered with the WealthRight/Saffollya Platform, we offer a six month, no questions asked Unconditional full refund (excluding taxes paid) within 6 months from the date of payment received from WealthRight coaches on having dissatisfaction or unwillingness to continue their business with us. The said refund shall be initiated within five to seven working days of the raising of such refund request with our Support team.

Process for Raising a Cancellation or Refund Request

Investors seeking to initiate a cancellation or refund request must submit a written request either via email to [support@wealth-right.com] or through a formal written application containing all relevant transaction details. The request must be accompanied by supporting documentation, including transaction confirmation details, proof of payment, and any additional documents substantiating the claim of error or failure. Upon receipt of the request, the verification process shall be conducted within three to five working days. Following successful verification, the refund shall be processed within the specified timelines as per the nature of the request and applicable regulatory norms.

Exceptions and Special Cases

Refunds shall not be applicable in cases where an investor decides to revoke the transaction post-execution without any underlying technical or operational failure. Additionally, refund requests arising due to incorrect details provided by the investor, such as erroneous folio numbers or incorrect bank details, shall not be entertained. Refunds related to SIP cancellations shall be governed by the AMC’s policies, which may require prior notice and additional compliance measures. Once a transaction is completed and units are allotted by the Asset Management Company, it cannot be canceled, and if an investor wishes to withdraw the money, the units will have to be redeemed as per mutual fund redemption policies.

Grievance Redressal

Investors encountering disputes or concerns regarding cancellations or refunds may escalate their grievances through the Investor Support Desk via email at support@wealth-right.com or contact our helpline at [+91-XXXXXXXXXX]. Written complaints may also be addressed to our office at [Company’s Office Address] for formal resolution.

In the event that the issue remains unresolved, investors may seek redressal through the SEBI Complaint Redress System (SCORES) by submitting complaints at www.scores.gov.in. All grievances shall be addressed in a timely manner in accordance with the dispute resolution mechanisms prescribed under SEBI and AMFI guidelines.

This policy is subject to periodic revisions in response to regulatory updates and operational requirements. Investors are advised to review the latest version of this policy on our official website before initiating any transactions.