Terms & Conditions

1. Nature of the Application (Digital Record-Keeping Ledger)

Chitti (“the Application”, “the Platform”, “we”, “us”) is a cloud-based software utility designed exclusively for informational ledger management, record-keeping, and schedule administration for self-organized community savings groups, rotating committees, and mutual chit fund organizers.

The Application functions purely as a digital notebook and calculation helper. Chitti is NOT a bank, non-banking financial company (NBFC), registered chit fund company, trustee, fiduciary, investment advisor, or payment aggregator. The Application does not hold a financial license, does not solicit public deposits, does not offer loans, and does not guarantee investment returns.

2. Absolute Prohibition & Absence of In-App Financial Transactions

You explicitly acknowledge, agree, and understand that:

• No Virtual Transactions: Chitti does not provide, facilitate, execute, or store any electronic funds transfers, credit/debit card processing, UPI payment gateways, digital currencies, tokens, virtual wallets, or escrow facilities.
• Offline & Peer-to-Peer Settlements: Any and all financial contributions, monthly installments, winner payouts, bidding discounts (ghata), foreman commissions, or late fees are settled 100% offline, in cash, or directly via personal third-party bank/UPI transfers between participants.
• Administrative Status Records: Any button labeled “Record Payment”, “Mark Paid”, or “Receipt” inside the application represents an administrative notation manually inputted by an organizer or collector reflecting an event that purportedly occurred offline. A digital receipt in Chitti is not a banking receipt or legal proof of financial clearance.
• Zero Custody of Funds: At no point does any money pass through or reside in bank accounts, servers, or merchant accounts belonging to the creators or operators of Chitti.

3. Complete Disclaimer of Responsibility for Your Company or Group

By using Chitti, each organization, organizer, and member agrees that:

• No Employer / Agent Relationship: Group organizers, foremen, and collection agents are independent individuals or entities. They are not employees, agents, representatives, or partners of Chitti.
• Member Defaults & Financial Losses: Chitti is not liable if a member fails to contribute, defaults on their chit obligations, absconds, or disputes an auction outcome.
• Organizer Solvency & Malfeasance: Chitti is not liable if an organizer or company fails to distribute the monthly pool, mismanages funds, misappropriates cash, or becomes insolvent.
• Internal Disputes: Any disagreements regarding bidding outcomes, lottery draws, cycle schedules, interest, or balances must be resolved directly among the group participants.

4. Regulatory Compliance & Local Laws

In various jurisdictions (including India under the Chit Funds Act, 1982, the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, and respective State Chit Fund Rules), specific statutory registrations, sanction orders, reserve fund deposits, and regulatory filings may be required depending on the nature, scale, and public solicitation of savings schemes.

Sole User Responsibility: You represent and warrant that your use of Chitti complies with all applicable local, state, national, and international laws, regulations, and tax reporting requirements. Chitti does not provide legal advice, does not review schemes for statutory compliance, and disclaims all liability resulting from an organizer’s failure to register or comply with statutory mandates.

5. User Accounts & Data Authenticity

When creating an administrator account or adding members, you agree to:

• Provide accurate, truthful, and updated contact information.
• Maintain the strict confidentiality of your account credentials and temporary collector passwords.
• Promptly notify administrators of any unauthorized account access or security breaches.
• Assume full responsibility for all activities, ledger edits, and data entered under your authenticated credentials.

6. Acceptable Use & Prohibited Activities

You agree NOT to use the Platform to:

• Operate illegal Ponzi schemes, multi-level marketing pyramid scams, or fraudulent money circulation enterprises.
• Enter forged, fabricated, or deceptive payment records to mislead members or authorities.
• Violate anti-money laundering (AML), counter-terrorist financing, or tax evasion statutes.
• Attempt to reverse engineer, decompile, scrape, overload, or compromise the software or database infrastructure.
• Harass, threaten, or impersonate other members or administrators.

7. Disclaimer of Warranties (“AS-IS”)

THE APPLICATION IS PROVIDED ON AN “AS-IS” AND “AS-AVAILABLE” BASIS WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY OF CALCULATIONS, CONTINUOUS UPTIME, OR FREEDOM FROM PROGRAM ERRORS. YOU UTILIZE THIS TOOL ENTIRELY AT YOUR OWN RISK.

8. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL CHITTI, ITS FOUNDERS, DIRECTORS, EMPLOYEES, CONTRACTORS, OR AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES WHATSOEVER (INCLUDING LOSS OF PROFITS, DATA LOSS, FINANCIAL SHORTFALLS, OR BUSINESS INTERRUPTION) ARISING OUT OF OR IN CONNECTION WITH THE USE OF OR INABILITY TO USE THIS APPLICATION, REGARDLESS OF THE LEGAL THEORY ASSERTED.

9. Modifications to Terms & Service

We reserve the right to revise or replace these Terms and Conditions at any time. When modifications are made, the “Last updated” date at the top of this document will be revised. Your continued access or use of Chitti after any revisions indicates your acknowledgment and acceptance of the revised terms.

10. Contact & Inquiries

If you have questions, regulatory inquiries, or feedback regarding these Terms & Conditions, please contact us at: