Kutoot Coin & Redemption Policy

This Kutoot Coin & Redemption Policy ("Policy") sets out the terms and conditions governing the purchase, holding, use, validity, redemption, cancellation, expiry, and associated rights and obligations relating to Kutoot Coins ("Coins") issued by Kutoot Innovations Private Limited ("Kutoot", "Company", "we", "our", or "us").

This Policy forms an integral part of, and shall be read together with, the Terms & Conditions and Privacy Policy published on our Platforms. By purchasing, holding, redeeming, or otherwise using Coins, you ("User", "you", "your") acknowledge that you have read, understood, and agreed to be bound by the provisions of this Policy.

This Policy is drafted in accordance with and in compliance with the provisions of the Consumer Protection Act, 2019, the Information Technology Act, 2000 (together with rules and amendments thereto), the Digital Personal Data Protection Act, 2023 (DPDPA), the Payment and Settlement Systems Act, 2007, and the applicable guidelines of the Reserve Bank of India (RBI) relating to prepaid vouchers and instruments.

1.1 Kutoot Coins are issued as closed-loop prepaid digital vouchers / shopping credits.

1.2 Coins represent a stored prepaid value denominated in Indian Rupees, issued for the purpose of redeeming products or services exclusively on shop.kutoot.com or on such other approved and integrated vendor platforms as may be notified by Kutoot from time to time.

1.3 The conversion rate of Indian Rupees into Coins shall ordinarily be ₹1 = 4 Coins, unless varied under promotional or bundle schemes declared by Kutoot.

1.4 Coins do not, in any manner, represent:

• legal tender or currency,
• a financial instrument,
• securities,
• cryptocurrency or virtual digital assets,
• deposits under the Banking Regulation Act, 1949, or
• electronic money requiring RBI authorisation.

1.5 Coins are non-interest bearing, non-transferable, and cannot be sold, pledged, gifted, exchanged, or assigned except in cases where Kutoot expressly permits such use under a promotional campaign.

1.6 Coins are separate and distinct from any promotional offers, free coupons, or contest participation. Users are not required to purchase Coins to access any free promotional coupons.

2.1 Coins may be purchased only through the Company's authorised online payment channels, including but not limited to UPI, debit cards, credit cards, internet banking, and mobile wallets integrated with Kutoot's Platforms.

2.2 Upon successful realisation of payment, the corresponding Coins shall be automatically credited to the User's registered account.

2.3 No User shall be permitted to purchase Coins through cash or other offline modes unless expressly notified.

2.4 Coins once issued are final and conclusive. They shall not be cancelled, withdrawn, or refunded, except in cases of technical error, unauthorised transaction, or as specifically required under applicable law.

2.5 Invoices for the purchase of Coins shall be issued electronically in compliance with applicable Goods and Services Tax (GST) laws. The incidence of tax shall be as prescribed by the CBIC circulars and applied at the redemption stage, unless modified by law.

2.6 Kutoot reserves the right to impose minimum or maximum purchase thresholds per User or per transaction, for fraud prevention and compliance purposes.

3.1 Unless otherwise specified in writing for a particular scheme or campaign, every set of Coins issued to a User shall carry a validity of 100 (one hundred) calendar days from the date of issuance.

3.2 Coins not redeemed within the validity period shall automatically lapse and stand cancelled without any further act, deed, or intimation, and such expired Coins shall not be eligible for refund, reinstatement, or extension.

3.3 The Company may, at its sole discretion and without obligation, extend the validity of Coins under specific loyalty or promotional programmes, provided such extension is communicated to Users through the Platforms.

4.1 Coins may be redeemed exclusively against eligible goods and services displayed on shop.kutoot.com or authorised partner merchant platforms integrated with Kutoot's system.

4.2 The redemption value of Coins shall be equivalent to their purchase value, at the prevailing conversion rate notified at the time of issuance. For instance, Coins purchased for ₹100 (i.e., 400 Coins) shall provide redemption credit worth ₹100.

4.3 Redemption may be subject to vendor-wise restrictions, including minimum purchase requirements, percentage caps, or product-specific exclusions. Such restrictions shall be clearly displayed at the time of transaction.

4.4 Redemption transactions, once confirmed, are final and irrevocable.

4.5 Coins may not be redeemed towards the purchase of items expressly prohibited under law, including but not limited to alcohol, tobacco, narcotics, arms, or any other restricted products. Coins may not be redeemed for participation in lotteries, gambling, or games of chance.

5.1 Coins once purchased are non-refundable. However, refunds may be processed where:

• a transaction has been completed without the User's authorisation, or
• a technical failure has resulted in Coins not being credited despite debit of payment.

5.2 In case of cancellation of an order placed using Coins:

• the value utilised in Coins shall be re-credited to the User's Coin balance, and
• the value paid in cash or other payment modes, if any, shall be refunded through the original channel of payment, subject to vendor refund timelines.

5.3 Where a redemption transaction fails after Coins have been deducted, Kutoot shall ensure that such Coins are re-credited to the User's account within 72 (seventy-two) hours of detection of failure.

5.4 Refund claims must be raised by Users by writing to support@kutoot.com within 7 (seven) calendar days of the transaction, accompanied with supporting evidence.

6.1 Kutoot may, from time to time, issue complimentary, bonus, or promotional Shopping Coins to Users under referral programmes, loyalty schemes, or marketing campaigns.

6.2 Such Coins may carry conditions including but not limited to:

• shorter validity periods,
• restrictions to specific categories or vendors, or
• prohibition on combining with other offers.

6.3 Promotional Shopping Coins may or may not carry a face value, are non-encashable, and may be withdrawn, modified, or discontinued at the sole discretion of Kutoot.

7.1 GST shall be applicable on the underlying goods and services at the time of redemption of Coins, in accordance with prevailing laws.

7.2 Any rewards distributed through promotional campaigns associated with Kutoot shall be subject to Tax Deducted at Source (TDS) under Section 194B of the Income Tax Act, 1961, wherever applicable. Users shall be required to furnish valid Permanent Account Number (PAN) and such other KYC documentation as may be necessary for compliance.

7.3 Kutoot shall maintain and preserve transaction records as mandated under law and may disclose such information to the concerned authorities whenever legally required.

8.1 Users shall use Coins strictly in accordance with this Policy and applicable laws.

8.2 Users shall not engage in, directly or indirectly:

• fraudulent activity,
• resale, counterfeiting, hacking, or manipulation of Coin balances, or
• any use of Coins for unlawful or unauthorised purposes.

8.3 Users are solely responsible for safeguarding their login credentials. Kutoot shall not be liable for unauthorised use arising from User negligence.

9.1 Kutoot reserves the right to modify, suspend, restrict, or terminate the Coin programme, including validity, redemption rules, purchase limits, and eligibility criteria, with or without notice, subject always to applicable laws.

9.2 Kutoot may investigate suspicious activity, freeze or forfeit Coins, and suspend or terminate User accounts where misuse or breach of this Policy is suspected.

9.3 In the event of discontinuance of the Coin programme, Kutoot shall provide Users with a reasonable redemption window to utilise existing Coin balances.

10.1 The Coins and related services are provided strictly on an "as is" and "as available" basis without warranties, express or implied.

10.2 Kutoot shall not be liable for:

• deficiencies, delays, or defects in goods or services supplied by vendors,
• technical errors, downtime, or interruptions beyond its reasonable control,
• losses arising out of User negligence, or
• indirect, incidental, or consequential damages.

10.3 The maximum liability of Kutoot, whether in contract, tort, or otherwise, shall in no case exceed the unredeemed Coin balance standing to the credit of the User's account at the time of claim.

11.1 This Policy shall be governed by and construed in accordance with the laws of India.

11.2 Any disputes arising under or in connection with this Policy shall fall within the exclusive jurisdiction of the competent courts at Bengaluru, Karnataka, India.

11.3 Users shall first raise grievances with the Grievance Officer at support@kutoot.com. If unresolved within 30 (thirty) days, disputes may be referred to arbitration under the Arbitration and Conciliation Act, 1996, before a sole arbitrator appointed by Kutoot, seated in Bengaluru.

For queries, grievances, or support regarding Coins and their redemption, you may contact: