A R A M

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Terms & Conditions

Effective Date: June 2025 | Aram Enterprises, No. 39, JJ Complex, Thirumangalam, Anna Nagar, Chennai – 600040
By enrolling in any Aram Enterprises scheme, you agree to these Terms.

1. Eligibility

  • Indian citizen, aged 18+, with valid KYC documents (Aadhaar, PAN, address proof)
  • Active Indian bank account and a valid mobile number & email address

2. Chit Fund Schemes

  • Plans: ₹2,00,000 | ₹3,00,000 | ₹5,00,000 | ₹10,00,000 — Duration: 10 Months each
  • Company commission: 5% of chit value (non-refundable)
  • Dividend shared equally among all non-prized members after each auction

3. Auction Rules

  • Auctions held on the 20th of every month at 06:00 PM
  • Lowest bidder wins the prize (reverse auction); lucky draw if no bidders
  • All participants must pay their monthly installment within 7 days of the auction

4. Member Obligations

  • Pay installments on time; late payments attract penal interest per scheme agreement
  • Prized subscribers must continue all remaining installments until scheme completion
  • Three consecutive defaults may lead to removal and legal recovery proceedings

5. Nomination & Transfer

Members must nominate a beneficiary at enrollment. Upon the member's demise, the nominee receives all contributions and dividends upon submission of required legal documents.

6. Dispute Resolution

Disputes shall be addressed first through our grievance officer, then the Registrar of Chits (Tamil Nadu), and finally through arbitration. Jurisdiction: Chennai courts.

7. Amendments

Aram Enterprises reserves the right to amend these Terms with 30 days' prior notice to all enrolled members via registered mobile or email.