This ‘Terms of Services’ is made effective immediately by Paasa, Inc., a company incorporated in the United States of America having its place of business at 360 S Baywood Avenue, San Jose, CA 952. Paasa, Inc. has granted to its Group Entities and certain third parties a revocable, non-exclusive, non- transferable licence to utilise the Platform.
By accessing or using our Platform, you acknowledge and agree to be bound by the terms and conditions outlined in this Terms of Services.
1. Definitions.
A. In this Terms of Services, unless the context requires otherwise, the terms and expressions used are defined as follows:
i. “Access Method” refers to any user identification, passwords, or other security credentials provided to you and necessary for accessing and using the Platform.
ii. “Account” denotes any account established for you and granted pursuant to any agreement.
iii. “Applicable Laws” includes all relevant local or foreign laws, regulations, rules, acts, subsidiary, legislation, notices, circulars, licence conditions, guidelines, directives, codes, and decisions issued by any government body, regulatory authority, self-regulatory organisation, court, exchange, central bank, or tax authority, whether enforceable by law or not, in India or elsewhere, including any intergovernmental
agreements, as amended from time to time.
iv. “Brokerage Account” shall mean an active account maintained by you with a broker, which is necessary to use certain features of the Services, including authorizing Transactions.
v. “Business Day” shall mean a day other than a Saturday, Sunday, or Public Holiday, during which we are open for business from 9.00 a.m. to 5.00 p.m. Indian time. In the context of Instructions and Transactions involving a foreign element, it shall also mean a day, other than a Saturday or Sunday, when we and the relevant financial markets and institutions in the applicable foreign jurisdiction are open for business.
vi. “Group Entities” shall mean affiliates, holding company and subsidiaries of Paasa Inc.
vii. “Platform” means Paasa’s website Paasa.com as also its mobile/desktop application.
viii. “Privacy Policy” refers to our adopted policy on privacy and personal data protection, available at https://paasa.com/privacy-policy , as modified, supplemented, or amended from time to time.
ix. “Services” refers to any services we provide through the Platform.
x. “System” denotes the hardware, software, and telecommunication infrastructure, in whole or in part, used to provide, support, access, or otherwise reference the Platform.
B. The terms “we,” “us,” “our,” “Paasa”, “Company” and related derivatives refer to Paasa, including its successors, and any entity that becomes a novatee, assignee, transferee, or purchaser of Paasa's rights and/or obligations under this Terms of Services. References to Paasa shall be deemed to include such successors, novatees, assignees, transferees, or purchasers.
C. The terms “you,” “your,” and related derivatives refer to the individual using or accessing
our Platform, and, where applicable, may include personal representatives.
2. Eligibility.
A. Paasa is intended exclusively for individuals who are 18 years of age or older. Any access to or use of Paasa by persons under the age of 18 is unauthorised, unlicensed, and constitutes a violation of these Terms of Services. By accessing or using Paasa, you represent and affirm that you are 18 years of age or older.
B. Notwithstanding the foregoing, if you are below the age of eighteen (18) years; you may avail the services of Paasa through your legal guardian in accordance with the Applicable Laws. You agree and acknowledge that Paasa shall, in no event, be liable to verify your age. You acknowledge that Paasa reserves the right to refuse access to use the Services offered at the Platform to new users at any time without according any reason for doing so.
C. You confirm that you have the legal capacity to enter into binding contracts and that you are not barred or otherwise legally restricted from using the Platform and the Services.
D. If you provide any information that is untrue, inaccurate, not current or incomplete (or becomes untrue, inaccurate, not current or incomplete), or Paasa has reasonable grounds to suspect that such information is untrue, incorrect, not current or incomplete; Passa has the right to suspend or terminate your User Account and refuse any and all current or future use of the Platform (or any portion thereof).
3. Your access.
A. To access certain features of the Platform, you must register to create an account (“User Account”). During registration, you will be required to choose a password, which you must use to access your User Account. Paasa takes your privacy very seriously and is committed to rigorously protecting your personal data. (refer to the Privacy Policy).
B. You further agree that the information you provide during account registration on our Platform will be true, accurate, current, and complete.
4. Services.
A. You acknowledge that the Platform is a web-based service or mobile application that enables you to access Services provided by the Company. The Platform facilitates communication regarding stocks, mutual funds, general investment-related information, and other related services. Subject to your compliance with these Terms of Service, the Company grants you a limited, non-exclusive, non-transferable, royalty-free licence to use the Platform for availing the Services provided by the Company.
B. The Platform offers access to financial products and services in India and globally; and facilitates purchase and sale of these products through your instructions to the relevant stockbrokers and/ or asset management companies.
C. Certain elements of the Services available on the Platform may be provided by (i) Group Entities, such as Vittada India Private Limited as registered mutual fund distributor (AMFI Reg. ARN Holder No. ARN-184197), and/ or (ii) third parties (“Third Party Services”) such as banks, non-banking financial companies, stockbrokers, investment advisors (including automated investment service), or other financial and non-financial institutions, where among others we have associated with Navin Kumar Choudhary as registered investment advisor (SEBI Reg. No. INA0000A4922) (“service providers”). Paasa acts as a facilitator, providing a Platform for Users to review and compare these services. It is expressly clarified
that the Company does not directly offer any of the above-mentioned financial products or services.
D. Passa may additionally collaborate with third-party aggregators to enable the review and comparison of financial products or services. Recommendations provided by the Platform are based on algorithms and logic that analyze user inputs and preferences to identify suitable options. However, the data, including pricing plans, transaction limits, penalties, charges, and other information, is supplied by service providers. Consequently, the Paasa’s role is limited to facilitating comparisons and reviews and does not constitute advice, approval, or endorsement of any service or product.
E. All information present on the Platform is to help investors in their decision-making process and shall not be considered as a recommendation or solicitation of an investment or investment strategy, unless expressly so stated in the Terms of Services, or so considered as per Applicable Law. Further, the data on the Platform may be curated using automated algorithms developed in-house or sourced from third-parties.
F. By accessing Third Party Services on the Platform, you acknowledge and agree that the Paasa’s role is limited to facilitation. Paasa does not endorse or guarantee the quality, reliability, or suitability of Third Party Services and disclaims liability for any losses, damages, or claims arising from your use of such services. Responsibility for the products and services rests solely with the respective service providers in accordance with their terms, policies, agreements, and Applicable Laws.
G. For investors in jurisdictions other than India that are restricted from availing Third Party Services of: (i) mutual fund distribution in India, or (ii) generally receiving investment advice from other than those duly registered/ licensed to provide such advice in such jurisdiction -such impacted services are not being enabled on the Platform.
5. Brokerage and use of intermediaries.
A. The Services allow you to buy and sell certain investments through your Brokerage Account (each, a “Transaction”). When you initiate a Transaction, you authorise us to send your instructions on your behalf to the stock-broker with whom you have a Brokerage Account and have executed separate agreement (“third-party broker”). Third-party broker has sole control over execution of Transaction, and whether or not the Transaction is accepted and executed, or is delayed. Once a Transaction is completed, the investments will be added to or removed from your Brokerage Account and reflected in your User Account on the Platform.
B. Please note that we do not handle any funds, execute Transactions (unless and to the extent authorised by you), or act as a stock-broker/ broker-dealer, or financial institution. We simply pass your purchase instructions to the third-party broker, which completes the Transaction. While you can find investment opportunities through the Platform, we are not a party to any Transaction. All transactions are directed by you to the third-party broker.
6. Your duties and responsibilities.
A. Provision of required information. Upon our request, you must supply a valid email address, a password, and responses to security questions (or any other details we may require to establish appropriate account credentials). These details are necessary for you to gain access to the Platform.
B. Additional Information. Each time you access the Platform or specific parts of it, we may require you to provide further information, confirmations, or declarations. You must do so promptly and represent and warrant that all such information, confirmations, or declarations you provide are accurate, true, complete, and not materially misleading.
C. Security Responsibilities. Your use of the Platform must be restricted to you alone. You
agree that:
i. We will determine the appropriate access controls that may apply to the User Account
dependant on the part of Services that you opt.
ii. You are responsible for maintaining the security of your password and other User Account details. You agree not to share your password with any third party and will promptly notify us at contact@paasa.co if your password is lost, stolen, or if you suspect any unauthorised use of your User Account. As a user, you acknowledge that you are solely accountable for any activities or actions under your User Account,
whether or not you have authorised them. We may suspend or terminate your User Account, but you remain accountable for any actions performed using your UserAccount prior to termination or suspension.
iii. You are fully responsible for all actions or omissions by anyone using the Platform through your User Account. We are not obligated to verify the identity, authority, or legitimacy of any individual using your User Account and may rely on instructions submitted by any person doing so, even if fraudulent or conflicting with your other instructions.
D. Compliance with Laws. You shall access and use the Platform in full compliance with all Applicable Laws and regulations. The money you invest is from your bank account (primary holder’s bank account in case of investment account held jointly), and the same is from legitimate sources and remitted through approved banking channels. You are prohibited from selling, trading, or otherwise transferring your User Account to another party or impersonating any other person for the purposing of creating an account with the Platform. In addition, your use of the Platform shall be subject to any further restrictions, terms and conditions of use, disclosures, or disclaimers that may be communicated to you by us
through written or electronic means.
E. Platform Integrity. You shall not introduce any content, materials, or code into the Platform that contains viruses, Trojan horses, worms, time bombs, cancelbots, or any other programming designed to damage, interfere with, intercept, or expropriate any system, data, or personal information. You must not attempt to bypass, disrupt, disable, burden, or otherwise impair the accessibility or functionality of the Platform, the Services, or related systems. Prohibited activities include, but are not limited to, spoofing, hacking, data sniffing, tampering, denial-of-service attacks, reverse engineering, or reprogramming.
F. Confidentiality of Messages. Any data, information, or message that is transmitted to you via our system or the Platform is confidential and intended solely for your use. If you are not the intended recipient, you must notify us immediately and delete or destroy all such data, information, or messages, including any copies.
G. Confidentiality of Platform Information. You must keep all information about the Platform, our System, and any data, materials, or documents we provide to you confidential.
7. Instructions. You agree to the following terms:
A. Unless we agree otherwise, all instructions must be transmitted through the Platform in the manner specified on the Platform or as communicated to you.
B. We will be deemed to have properly received your instructions only when they are received by our System hosting the Platform. Any instructions received after the close of business on a Business Day or on a non-Business Day may, at our discretion, be treated as received on the next Business Day.
C. You are responsible for ensuring the accuracy and completeness of all your instructions.
D. We are not obligated to verify the identity, authority, or capacity of any person submitting instructions on your behalf. We may rely on any Instructions submitted by anyone using your Access Methods, even if fraudulent or conflicting with other Instructions given by you.
E. Without limiting the provisions of sections 3 and 4 we may, at our sole discretion and without liability, do the following:
I. Require you to provide additional proof of identity.
II. Require confirmation of Instructions through alternative means.
III. Decline to act on or delay acting upon any Instructions.
IV. Determine the order of priority for effecting any Instructions and other arrangements you have with us.
8. Our rights.
A. Monitoring Access and Use. We may (and not have an obligation to) monitor your access to and use of the Platform to detect any improper activity. You must promptly comply with our requests for information, documents, or other materials.
B. Right to Terminate or Restrict Access. We reserve the right to restrict, temporarily or permanently, the operation of the Platform at any time and with immediate effect, without any liability to you, if any of the following occur:
i. You breach the terms of this Terms of Services.
ii. Your use of the Platform may cause us to breach Applicable Laws, incur legal liability, or disrupt other's use of the Platform.
iii. You are or we reasonably suspect you are using the Platform for illegal activities.
iv. Your User Account details are or are suspected to be stolen, lost, damaged, or compromised.
v. We suspect that the person using your User Account details is not you.
vi. We are required to do so by Applicable Laws or at the request of a government or regulatory body.
vii. Scheduled or recurring downtime.
viii. A Force Majeure Event occurs.
ix. You publish, post, transfer, distribute, or upload content to the Platform that is false, misleading, inaccurate, contains inappropriate language, or falsely implies our sponsorship or endorsement.
x. You modify, adapt, or reverse engineer the Platform or any part of it.
xi. You transmit viruses, worms, Trojan horses, or other destructive items that may
compromise the Platform’s security.
C. Definition of Force Majeure Event. For section 9(b)(viii), “Force Majeure Event” refers to any event beyond our reasonable control (unrelated to our default or negligence) that makes fulfilling these Terms of Services, including offering the Platform, impossible or significantly hindered. This includes, but is not limited to:
i. War, riot, civil unrest, revolution, sabotage, terrorism, insurrection, military or civil authority actions, sanctions, embargoes, or similar occurrences.
ii. Terrorist attacks, civil war, civil disturbances, or riots.
iii. Acts of God, epidemics, pandemics, floods, earthquakes, typhoons, natural disasters, or adverse weather conditions.
iv. Governmental or public authority actions, including expropriation, nationalisation, or executive necessity claims.
v. Fire, explosions, or accidental damage.
vi. Structural collapses, or failure of machinery, computers, or vehicles.
vii. Utility service failures or interruptions, including electric, gas, or water services.
viii. Labour disputes, such as strikes, industrial actions, or lockouts.
D. No Liability for Force Majeure Events. We will not be in breach of these Terms of Services or liable for any failure or delay in performing our obligations due to any circumstances that give rise to our right to terminate under section 9(b)(viii).
9. Intellectual Property Rights.
A. Marks and Trademarks. The names, images, logos, or other trademarks (“Marks”) identifying us or third parties and their products and services are protected by copyright, design rights, and trademark laws. All rights to the Marks are reserved by us or the respective third parties. This Terms of Services does not grant you any licence or right to use any trademark, patent, design right, or copyright belonging to us or any third party without prior written consent. You are prohibited from using our Marks or those of any third party for any purpose, including advertising, publicity, or hyperlinks, without our written
consent.
B. Ownership and Restrictions. We, along with the service providers, agents, contractors, delegates, suppliers, and any other appointed third parties, retain all rights, titles, and interests in and to:
i. The Platform.
ii. All hardware, software, and other components used to provide the services.
iii. All materials on the Platform, including databases, documents, graphics, audio, and video.
iv. These materials are proprietary and confidential, protected by intellectual property laws. You are not permitted to copy, modify, publish, distribute, or sell any proprietary information without our express authorization. Additionally, you may not decompile, reverse engineer, or attempt to discover the source code of any content on the Platform unless expressly permitted by us in writing.
C. Content Licence. By submitting, posting, or displaying content on the Platform, you grant us a worldwide, non-exclusive, royalty-free licence to reproduce, adapt, and publish this content for the purpose of displaying, distributing, or promoting the Platform or our services. Additionally, you grant us an irrevocable, non-exclusive licence to use any ideas, inventions, or techniques within the submitted content for developing and marketing our services. We reserve the right to retain archival records of all content, even if you delete or remove it.
D. Software Licence. If you are allowed to download any software, applications, or scripts from the Platform, they are licensed to you on a non-exclusive, non-transferable, and non-sublicensable basis for use in accordance with this Terms of Services. Ownership or rights to the software are not transferred to you. You are prohibited from redistributing, selling, decompiling, or reverse engineering the software. Any software downloaded from the Platform is at your own risk, unless explicitly authorised by us.
E. Restrictions on Platform Contents. You may not imitate, copy, modify, decompile, disassemble, reverse engineer, distribute, licence, create derivative works from, transfer, or sell any part of the Platform or its contents. Unauthorised use of the Platform or its contents may violate our or third-party intellectual property rights and could constitute an offence under the Applicable Laws. You are allowed to retrieve and display the platform contents on your devices and keep a copy for your records, provided all intellectual property and proprietary notices are preserved.
10. Privacy.
You agree that during your use and access of the Platform and/or availing of the Services, you will provide us with certain information and data as outlined in these Terms of Services, which may or may not be publicly available. We respect the privacy and confidentiality of such data, and the handling of this information is governed by the Platform’s Privacy Policy. By using and visiting the Platform and availing of its services, you agree to our Privacy Policy, and acknowledge that the information provided on the Platform may be shared with our Group Entities and business partners.
11. Securities disclaimer.
A. Paasa is not a tax advisor, broker, financial advisor, or investment advisor by any means unless stated otherwise.
B. Investing in securities involves risks and can result in significant losses. You should only invest money that you can afford to lose and avoid using funds needed for other purposes. You are solely responsible for determining if any investment, security, strategy, or service is suitable for your goals, personal situation, and financial circumstances. It is advisable to consult with an attorney or tax professional for specific legal or tax advice.
C. Paasa, its Group Entities, service providers or partners disclaim any responsibility for any losses or damages resulting from actions taken based on the content provided on the Platform, including but not limited to losses from the sale or purchase of any securities, products, or services.
D. You acknowledge that investing in securities carries various risks, and any content related to such investments may not list or describe all relevant risk factors. Additionally, certain stocks discussed on the platform may have lower market capitalization or limited public information, which could result in higher volatility, lower liquidity, and increased risk.
12. Other disclaimers and liabilities.
A. Platform Provided "AS IS”. The Platform is made available on an “AS IS” and “AS AVAILABLE” basis without any representations or warranties of any nature, whether express or implied by law. To the maximum extent permitted by applicable law, we and our licensors disclaim all express, implied, and statutory warranties, including but not limited to warranties of functionality, operability, accessibility, accuracy, reliability, timeliness, quality, merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. We do not warrant that the services, functions, or any content on the Platform will be uninterrupted, error-free, or free from omissions, that defects will be corrected, or that the
Platform or its content is free from harmful elements such as viruses or other corrupting code. Additionally, we do not guarantee that the use, download, or installation of any content or system from the Platform will not impair or damage the functionality of your computer or systems. We shall not be liable for any deletion, failure to store, or inaccuracy of content maintained or transmitted through the Platform.
B. Assumption of Risks. You acknowledge and accept that using the Platform carries inherent risks, including but not limited to security vulnerabilities, transmission errors, data corruption, land service unavailability. To the fullest extent allowed under applicable law, you assume these risks and agree to bear any resulting consequences, including any costs of correction or any other related/ consequential costs. Specific risks include but are not limited to:
(i) Delays or inability to access the Platform due to hardware, software, or system failures, or interruptions caused by computer viruses or other defects;
(ii) loss or transmission errors in data due to failures in electrical, electronic, or communication systems;
(iii) maintenance-related delays or failures;
(iv) failures of electronic security measures, including authentication and anti-virus protocol;
(v) unauthorised use of your User Account or any other investment related account connected to your User Account;
(vi) data, comments or opinions on the Platform curated using automated algorithms. You agree that we shall not be liable for any losses or damages arising from these risks, even if we have been informed
of the possibility.
C. Exclusion of Liability. To the maximum extent permitted by applicable law, and without prejudice to any other rights we may hold, you acknowledge that we and our affiliates, agents, contractors, service providers, officers, employees, and representatives are not liable for any direct, indirect, incidental, consequential, special, or punitive damages, including but not limited to losses of revenue, business opportunities, profits, data, goodwill, or equipment value, whether arising from contract, tort, or any other legal theory, due to:
(i) Platform unavailability or access issues;
(ii) Inaccurate System information;
(iii) Instruction transmission failures or delays;
(iv) Unauthorised Platform use or security breaches;
(iv) Third-party service disruptions;
(v) Our exercise of rights under these Terms of Services;
(vi) Your reliance on provided information;
(vii) Loss of data or business;
(vii) Any events beyond our control;
(viii) Violations of laws or third-party rights by content you provide. Further, Paasa has no liability for the acts, omissions, negligence, or non-compliance of service providers, nor for the performance of their products or services; and Paasa disclaims liability for any losses, errors, omissions, or delays in executing, or rejection of, instructions submitted by you.
D. Your Indemnities. To the maximum extent permitted by applicable law, you agree to indemnify and hold harmless us and our affiliates, officers, directors, employees, agents, contractors, and service providers from any losses, damages, claims, expenses (including legal fees), or liabilities arising from events set-out in section 12(c) (i) – (viii) above. You also agree to ensure any transferee of your rights or assets indemnifies us on the same terms.
E. Transfer Obligations. You agree that if you transfer your rights or assets to another party, you will ensure that such party agrees to indemnify and hold us harmless on the same terms as set forth herein.
13. SEBI caution.
A. Investing in securities market. Investing in the securities market, including mutual funds, involves market risks. Please read all investment-related documents carefully before making any investment. For these Terms of Services, “Offer Document(s)” refers to the documents like Offer Document, Scheme Information Document (SID), Statement of Additional Information (SAI), and Key Information Memorandum (KIM) issued by the Asset Management Company (AMC) managing the mutual fund.
B. Violation of Terms of Services. By using the Platform, you agree that any violation of these Terms of Services will be considered an unfair business practice and may cause significant harm to Paasa. You agree that the Company may seek injunctive or other legal remedies to prevent such harm, including recovery of reasonable legal fees and other costs.
C. Suspension and Termination. These Terms of Services will remain in effect until either you or the Company terminate them. If you disagree with these Terms or are unhappy with the Platform, your only option is to (i) close your User Account or (ii) stop using the Platform. The Company reserves the right to suspend or terminate your User Account or access to the Platform if you violate these Terms or any applicable laws.
D. The Company may suspend or terminate your account if it believes, at its sole discretion, that you have violated or manipulated any terms in an unethical manner. Even if your access is terminated, these Terms will remain in effect unless the Company decides to end them. If you or the Company end the relationship, the Company may delete your content but may retain transaction details for legal or regulatory purposes.
E. The Company reserves the right to change these Terms at any time.
F. General Provisions.
i. Notice. All notices from the Company will be sent to your registered email or posted on the Platform. Any notice you wish to send should be emailed to navin@paasa.co with the subject line “Attention: TERMS OF SERVICES.”
ii. Waiver. If the Company does not enforce any provision of these Terms, it does not waive the right to do so in the future.
iii. Other Agreements. This Terms of Services does not override or replace any prior or separate consents you have provided to us regarding your access or use of the Platform. Your acceptance of this Terms of Services is supplemental to any other rights we may have in relation to your access or use of the Platform.
iv. Amendment. The terms of this Terms of Services may be revised from time to time. Any such amendments will be posted on https://paasa.com/. Your continued use or access of the Platform after any such changes constitutes your acceptance of the revised terms without any reservations.
v. Assignment. You are not permitted to assign or transfer any of your rights, obligations, or responsibilities under this Terms of Services without obtaining our prior written consent. We reserve the right to assign or transfer any of our rights or obligations under these Terms to any third party without requiring your consent, subject to prior notification.
vi. Survival on Termination. All disclaimers, indemnity obligations, and exclusions stipulated in this Terms of Services shall remain in effect even after the termination of these Terms.
vii. Severability. If any provision of this Terms of Services or any part thereof is declared void, unlawful, or unenforceable by any applicable law, it shall be void, unlawful, or unenforceable only to the extent of such invalidity, illegality, or unenforceability and no further. The remaining provisions of these Terms shall continue to remain valid and enforceable in full force, and the legality and enforceability of the entire Terms in other jurisdictions shall not be impacted.
viii. No Third Party Rights. No individual or entity who is not a party to these Terms of Services shall have any right to enforce any terms of these Terms under the Indian Contract Act, 1872, or any other applicable law.
ix. Advise may differ. You acknowledge and agree that we serve as an investment advisor for our clients and will continue to fulfil this role. Our team and personnel may provide recommendations and make decisions for clients that may differ from the recommendations provided to you or actions taken on your behalf. Furthermore, our personnel may make investment decisions for their own accounts based on their
individual financial situations, which may differ from the recommendations or actions taken on your behalf.
x. Governing Law and Jurisdiction. These Terms of Services shall be governed by and interpreted in accordance with the laws of India. Any disputes arising out of or in connection with this Terms of Services and/or the documents referred to within it, including questions concerning their existence, validity, or termination, shall be subject to the exclusive jurisdiction of the courts located in New Delhi, and both
parties hereby irrevocably submit to such exclusive jurisdiction.
xi. Feedback. Your feedback is appreciated and encouraged. You may provide feedback by emailing us at founders@paasa.co. By submitting any unsolicited ideas to the Platform or to any of its employees or representatives through any medium (including, but not limited to, email, written, or oral communication), you agree that (i) you forfeit any rights to intellectual property ownership in such ideas, and (ii) such unsolicited ideas immediately become the property of the Platform. You hereby assign and agree
to assign all rights, title, and interest in such feedback and ideas to the Platform, including all associated intellectual property rights. Additionally, you represent and warrant that all moral rights in any feedback have been waived, and you hereby waive such moral rights.
xii. Questions. These Terms constitute the complete Terms of Services for the Platform and related services. For any questions regarding these Terms of Services or any content on the Platform, please contact us at navin@paasa.co.
Last Updated on: 9 December 2024