Update policy - 11 JULY 2026
e-Mandate / NACH Terms - JK POINT
1. Customer authorizes JK POINT to auto-debit EMI amount on due date monthly.
2. Mandate valid till loan tenure or cancellation.
3. SMS sent 24hrs before debit. Ensure balance.
4. Failed debit = bank charges applicable.
5. Dispute: support@soppingmall.store
6. NPCI/RBI guidelines applicable.
Cancel e-Mandate:
Email Order ID to support@shoppingmall.store 48hrs before next due date.
OR cancel from your bank NetBanking ,UPI app directly.
No future debits after cancellation. Paid EMIs non-refundable.
JK POINT
DEFERRED PAYMENT FACILITY & NACH AUTO-DEBIT TERMS
7.1 Nature of Facility: JK POINT offers "Deferred Payment Sale" facility as per Sale of Goods Act, 1930. This is NOT a loan. JK POINT is not an NBFC/Bank and does not charge any interest, processing fee, or penalty.
7.2 Mandate Registration Modes: Customer can authorize monthly installments via any of these NPCI-approved modes:
a) e-NACH/e-Mandate: Online authentication via NetBanking/Debit Card OTP. Recommended.
b) Aadhaar e-Sign Mandate: Authentication via Aadhaar OTP.
c) Physical NACH Mandate: Signed mandate form submitted at store. No cancelled cheque or bank passbook is mandatory for Physical Mandate. Signature verification will be done via alternate modes as per NPCI guidelines.
7.3 Customer Consent & Authorization:
a) By opting for any mandate mode and signing the Deferred Payment Agreement, you provide explicit, irrevocable consent to JK POINT to auto-debit monthly installments from your bank account.
b) For Physical Mandate, your wet signature on the NACH form shall be conclusive proof of authorization. Video/photo of signing may be recorded for security, to which you consent.
c) For e-NACH/Aadhaar e-Sign, OTP authentication shall be conclusive proof of consent.
7.4 NACH Return / Auto-Debit Failure:
a) If auto-debit fails, you shall pay only the actual bank charges levied on JK POINT by our bank for the NACH return. Proof will be provided on request.
b) No administrative cost, penalty or interest shall be charged by JK POINT.
c) Failed installment must be paid within 7 days via UPI/Cash/Bank Transfer.
7.5 Mandate Cancellation Rights - As Per NPCI:
a) Your Right: You can cancel/stop your NACH mandate at any time through your bank/internet banking. JK POINT cannot restrict this right.
b) Payment Liability Continues: Mandate cancellation does NOT waive your contractual obligation to pay remaining installments under this Deferred Payment Agreement.
c) Post-Cancellation Process: Upon mandate cancellation, you must clear all outstanding dues within 7 days via Cash/UPI/Bank Transfer. We will send payment reminder with dues details.
d) Consequences of Non-Payment: If dues remain unpaid after mandate cancellation, it will be treated as willful default under this agreement.
7.6 Dispute & Chargeback Policy:
a) No Unauthorized Claim: After taking product delivery and authorizing mandate via any mode, you cannot claim NACH debits as "unauthorized transaction" with your bank.
b) Genuine Dispute Process: For billing disputes, contact JK POINT within 7 days. We will provide mandate copy + sign/video proof in 48 hours.
c) Fraudulent Chargeback: If you dispute as "unauthorized" despite valid consent and product receipt, JK POINT reserves right to:
i) Recover entire outstanding balance + actual bank charges + legal costs
ii) Initiate proceedings under Section 25 of Payment & Settlement Systems Act, 2007
iii) Initiate proceedings under Section 138 of Negotiable Instruments Act, 1881 if cheque given
iv) Repossess the product under Sale of Goods Act, 1930
v) File criminal complaint under Section 318 of Bharatiya Nyaya Sanhita, 2023 for cheating
vi) Report trade credit default to Credit Information Companies
7.7 Ownership: Product ownership remains with JK POINT until full payment. Last installment paid = ownership transfers automatically.
7.8 Documents for Physical Mandate: For Physical NACH, only signed NACH form is required. Cancelled cheque or bank passbook copy is optional and NOT mandatory. We may verify signature through other means if required by our bank.
5. DEFERRED PAYMENT / EMI CANCELLATION POLICY
5.1 No Cancellation After Delivery: Once NACH Mandate is registered and product is delivered, order cannot be cancelled except for manufacturing defect covered under brand warranty.
5.2 NACH Mandate Cancellation by Customer:
a) As Per NPCI Guidelines: You have the absolute right to cancel NACH mandate anytime via your bank.
b) Dues Still Payable: Mandate cancellation does NOT cancel your purchase contract. All pending installments remain legally payable as per the Deferred Payment Agreement signed by you.
c) Payment Timeline: You must pay all outstanding balance within 7 days of mandate cancellation via Cash/UPI/Bank Transfer/IMPS.
d) Default Action: Failure to pay after mandate cancellation will attract legal action under Section 318 of BNS, 2023 for cheating, and product will be repossessed. No refund of amounts already paid.
5.3 Pre-Closure: Pay entire outstanding anytime. No pre-closure charges. No interest.
5.4 Default Consequences: 2+ installments default = Agreement terminated + Product repossession + Legal case + Credit bureau reporting. No refund.
5.5 Fraudulent Intent: Signing mandate, taking product, then disputing as "unauthorized" = Criminal breach of trust. FIR under BNS Section 318 will be filed.
5.6 Evidence Consent: You consent that video/photo of mandate signing or OTP authentication logs can be used as evidence in Court/Banking Ombudsman.
Padampur lakhmara road padampur pincode 768036
support@soppingmall.store