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Jewellery Purchase Plan Terms & Conditions

Governing terms, instalment rules, loyalty benefits, and foreclosure policy for the Vajram Jewellery Purchase Plan (10+1) and the V-ONE Jewellery Purchase Plan operated by Vasundhara Diamond Roof Private Limited.

Vajram (10+1) Plan V-ONE Plan Official Subscription Terms
Jump To: Important Points Vajram (10+1) Plan V-ONE Plan Adjustment & Redemption Foreclosure Tables General Terms (I to V) Declaration & Contact

Important Points:

  • Subscribers are requested to carefully read and understand all the terms and conditions stated in the Vajram Jewellery Purchase Plan ("Plan"). The terms and conditions contained herein constitute an integral part of the agreement between the Subscriber and Vasundhara Diamond Roof Private Limited ("Vasundhara Diamond Roof") and shall become binding upon execution/signing of the Jewellery Purchase Plan Subscription form.
  • Subscriber's copy of the Plan's Passbook is mandatorily required to be submitted at the time of jewellery purchase. The Subscriber is required to be physically present for the purchase of the jewellery.
  • Subscribers are required to provide valid Government issued identity proof and address proof documents at the time of joining the Plan.
  • Upon the subscriber attaining majority, fresh KYC verification and confirmation shall be required for continuation or redemption of the plan.
Vajram Jewellery Purchase Plan (10+1)
Monthly Advance Instalment Scheme
10 Monthly Instalments Maturity: 300 Days Min: ₹5,000 & Multiples 1 Month Loyalty Reward
Plan Terms:
  • Under this Plan, the Subscriber shall pay 10 (ten) monthly advance instalments and the plan shall mature upon completion of 300 (Three Hundred) days from the date of enrolment.
  • The date of payment of first advance amount i.e. Plan Enrolment date/date of joining the Plan shall be considered as date of enrolment.
  • Under this Plan, the Subscriber shall pay a minimum of INR 5,000 (Rupees Five Thousand) and thereafter in multiples of INR 5,000 (Rupees Five Thousand).
  • Upon successful completion of all instalments under the Plan, the Subscriber shall be eligible for a jewellery purchase benefit equivalent to one month's instalment value as loyalty reward, redeemable only against purchase of jewellery products from Vasundhara Diamond Roof Private Limited and not payable in cash.
  • The Subscriber may avail gold and/or diamond jewellery at the prevailing rates applicable on the date of redemption.
  • The due date for the monthly payments shall be the 5th of every month. However, enrolments made after 25th of the month shall have the due date as 5th day of subsequent month (applicable only for the second instalment). However, the subscriber shall be given a grace period of seven (7) days in a month for payment of the instalment. In the event the subscriber fails to pay instalment within the grace period, the proportionate discount/benefit as offered herein shall be reduced.
  • Monthly payments made under this Plan are non-refundable. However, subscribers may utilise the amounts paid towards the purchase for Gold or Diamond products between 301-365 days from the date of enrolment.
  • Continuous non-payment for three (3) consecutive months shall disqualify the subscriber from availing the loyalty reward benefit, and the plan shall be deemed foreclosed in such cases.
  • The subscriber agrees to receive scheme-related updates, payment reminders, and promotional communications through registered mobile number, email address, or WhatsApp or other registered communication channels.
V-ONE Jewellery Purchase Plan
One-Time Advance Gold Booking Plan
One Time Advance Maturity: 300 Days Min: ₹50,000 Up to 14% Wastage Waiver
Plan Terms:
  • Under this Plan, the Subscriber shall pay One Time Advance Payments, and the Plan shall mature upon completion of 300 (Three Hundred) days from the date of enrolment.
  • The date of payment of first advance amount i.e. Plan Enrolment date/date of joining the Plan shall be considered as date of enrolment.
  • Under this Plan, the Subscriber shall pay a minimum INR 50,000 (Rupees Fifty Thousand).
  • Gold weight would be booked as per the prevailing gold rate of Vasundhara Diamond Roof on the date of advance payment.
  • Upon successful completion of the plan, the Subscriber shall be eligible to purchase Gold/Diamond jewellery and receive a Wastage waiver of up to maximum 14% on gold jewellery or to the extent gold in diamond jewellery purchases.
  • The wastage waiver benefit is only applicable for the gold weight accumulated under the plan and does not extend to additional purchases beyond the accumulated gold weight.
  • In addition to the gold and stone charges, all jewellery purchased under the plan will be subjected to making charges, material charges, goods and service tax (GST), or any other applicable surcharges in levies prevailing at the time of a sale.
  • The Customer must redeem the plan value against purchase of jewellery within 365 days from the date of enrolment.
  • The subscriber agrees to receive scheme-related updates, redemption reminders, and promotional communication through registered mobile number, email, or WhatsApp or other registered communication channels.

At the Time of Adjustment of Plan Balance Towards Purchase of Jewellery

  1. At the time of purchase of jewellery upon maturity of the plan, the subscriber must personally visit the Vasundhara Diamond Roof store with the original Passbook and utilise the advance amounts paid towards the purchase of jewellery.
  2. At the time of her purchase, the original passbook/Bond has to be submitted by the subscriber to Vasundhara Diamond Roof store and his/her signature at the time of purchase must tally with the signature in the plan subscription form.
  3. A subscriber may enrol in multiple plans; however, each plan shall be treated independently and cannot be merged for redemption or benefit calculation.
  4. Advances received under the plan(s) must be fully utilised for the purchase of jewellery and no credit note, whether in full or part shall be permitted.
  5. If the subscriber received any discounts on the first advance payment, the same shall stand forfeited in the event of pre-mature/foreclosure. The subscriber may purchase jewellery to the extent of the accumulated amount, but cash refunds shall not be provided under any circumstances.
  6. At the time of utilisation of advances, two individual plans will not be merged under single purchase transaction.
  7. In the event of any pre-mature/Foreclosure of the plan by the subscriber, such subscriber may purchase jewellery at the Vasundhara Diamond Roof store to the value of the advance amounts accumulated in his/her account as on that date. However, the applicable jewellery purchase benefit in case of a pre-mature or foreclosure shall be provided as per the below tables:
Vajram Jewellery Purchase Plan (10+1)
Days Benefit Eligibility (Gold & Diamond)
Up to 180 Day(s) NIL
181 – 240 Day(s) 60% of one month instalment
241 – 300 Day(s) 80% of one month instalment
V-ONE (Vajram-One) Jewellery Purchase Plan
Days Benefit Eligibility (Gold & Diamond)
Up to 180 Day(s) NIL
181 – 240 Day(s) Up to 6% waiver on wastage
241 – 300 Day(s) Up to 8% waiver on wastage

GENERAL TERMS AND CONDITIONS

I. Enrolment
  1. Only individuals above 18 years can enrol into the Plan and enrolment is not permissible for other entities like Companies, Partnership firms and Proprietorship concern or Trusts or Hindu Undivided Family (HUF). Minors can enrol into the Plan only through their natural guardians. The Subscriber shall not pay a part or whole of the Instalment using borrowed money.
  2. Subscribers are required to provide copies of photo identity and address proof documents such as Ration Card/Passport/Aadhaar or PAN card (Mandatory for cumulative contribution above 2 Lakhs)/ Driving License/Voter ID, etc., at the time of enrolment into the Plan.
  3. On enrolment, every Subscriber will be issued a Passbook which he/she shall keep in safe custody, at all times. The Subscriber shall ensure that, all payments made are correctly entered in Passbook and any discrepancy shall be immediately brought to the notice of respective store manager for rectification. The name of the Subscriber in the Passbook shall strictly correspond with the name appearing in the ID proof submitted by the Subscriber and shall not contain any nickname, abbreviation or short forms.
II. Account Opening
  1. The subscriber should obtain an entry in the plan's Passbook or collect his/her duly computerised receipt, from the Vasundhara Diamond Roof store where he/she is making payment.
  2. Subscriber can also make payment over the Internet. However, the subscriber must ensure to get his/her plan Passbook updated periodically by producing payment Receipts for the purpose of the plan, monthly due date shall be one month from the advanced amount due date.
  3. Receipt for the payment made through Automated Clearing House ("ACH") will be issued only upon clearance of payment. In case of ACH enabled accounts, the Plan cannot be closed prior to maturity date unless the Subscriber has cancelled the ACH by submitting the required forms to Vasundhara Diamond Roof.
  4. Payment of monthly advance amounts should be made on or before due date by cash, card, cheque and ACH in select stores, demand drafts in favour of "Vasundhara Diamond Roof Private Limited", payable at Hyderabad. International cards for online payment will not be accepted.
  5. Gold rate booked or charged on the invoice may vary city-wise depending on the corporate gold rate applied by the company. The gold rate shall be based on the company's prevailing gold rate on the date of purchase.
  6. The subscriber is solely responsible for tracking the due dates and ensuring timely Payment, regardless of whether communications are received from Vasundhara Diamond Roof.
  7. In the event the subscriber requests doorstep collection of the advance amount, the subscriber must collect the receipt from our collection agent.
  8. The subscriber should not make advance amounts to any collection agent who doesn't issue a valid electronic receipt for such payment. Vasundhara Diamond Roof shall not be held responsible for any payment made to unauthorised individuals or agents not producing valid receipts.
  9. In the event the Subscriber fails to pay advance payments for three (3) consecutive months under the plan, the plan shall stand cancelled and the subscriber shall not be entitled for any plan benefits. In such cases, only the actual amounts paid (including benefits) may be refunded at the discretion of Vasundhara Diamond Roof, without any accurate benefits or rewards and only upon written request by the subscriber.
  10. Gold Weight Calculation: The gold weight under V-One plan shall be fixed based on the prevailing gold rate of Vasundhara Diamond Roof at the time of one time enrolment. The total fixed gold weight shall be considered at the time of redemption.
  11. Fraud & AML Clause: Vasundhara Diamond Roof reserves the right to reject, suspend, or terminate any account in case of suspected fraudulent activity, misrepresentation, or transactions not in compliance with applicable laws including the Prevention of Money Laundering Act, 2002.
  12. Third-Party Payment Control: Payments should preferably be made from the subscriber's own account. Vasundhara Diamond Roof may request additional verification for third-party payments.
  13. Any refund (where applicable) shall be processed to the registered bank account within 7– 10 working days, subject to internal verification.
III. Plan Transfer Process
  1. The accounts opened under the plan are transferable between Vasundhara Diamond Roof outlet locations only. The transfer of accounts shall be permitted only in the name of the original subscriber or as mentioned in the plans subscription form & the Plan's Passbook should be produced at the transferee store along with the photo ID proof by the subscriber.
  2. Plan balance adjustments, if any, shall be permitted only at the time of the jewellery purchase by the subscriber, and shall be carried out in accordance with the terms and applicable to the plan at the time.
  3. At the time of the jewellery purchase on maturity of the plan, the subscriber must Personally come with his/her advance amounts paid towards the purchase of a jewellery. In case the subscriber is unable to be physically present due to medical or legal reasons, a duly notarised authorisation letter and identity proof of both the subscriber and authorised person must be submitted subject to Vasundhara Diamond Roof's acceptance.
  4. At the time of purchase, the original plan Passbook must be submitted by the subscribers to Vasundhara Diamond Roof's Store and his/her signature at the time of a purchase must tally with the signature in the plan's subscription form.
  5. The subscriber will have to purchase the jewellery, for the total Instalment amount paid and partial purchase is not allowed.
  6. In the event of any premature or foreclosure of the plan by the subscriber, such subscribers may purchase jewellery at Vasundhara Diamond Roof's store equal to the value advance amounts accumulated in his or her account as on that date. In case of refund scenario, the fixed gold weight or prevailing rate whichever is lower shall be considered for valuation and settlement of account by Vasundhara Diamond Roof.
IV. Other Terms & Conditions
  1. In the event of a loss of plan passbook, the subscriber has to intimate the concerned Vasundhara Diamond Roof store or email to plans@vasundharadiamondroof.com immediately in writing to enable Vasundhara Diamond Roof to block the account. In case of any delay or non-intimation he/she shall be personally responsible for any loss of redemption/purchase by any other person.
  2. In the event of loss of Original Passbook: A duplicate plan-book may be issued only if the subscriber provides an indemnity letter on ₹200 non-judicial stamp paper along with a valid photo identity proof and address proof documents, for authentication by the Vasundhara Diamond Roof store. Vasundhara Diamond Roof shall not issue any Duplicate plan passbook unless satisfied about the authenticity of the Claim or request and only upon production of all the original receipts previously issued to the subscriber.
  3. In the event of the death of the subscriber the amount is transferable by Vasundhara Diamond Roof to the nominee(s) designated by the subscriber at the time of opening the account, subject to submission of valid identity and address proof by such nominee(s). In case the subscriber has not nominated any person, any claims made by any other person on behalf of the subscriber shall not be entertained unless such person being a legal heir or duly authorised representative claiming benefits under the jewellery purchase plan account shall produce the below documents to Vasundhara Diamond Roof:
    • Death certificate of the deceased
    • Succession certificate / Legal heir certificate
    • NOC from other surviving legal heirs for purchase
    • Indemnity undertaking to indemnify Vasundhara Diamond Roof Private Limited from claims
    • Will (if any)
    • Along with any other supporting documents and clarifications
  4. Vasundhara Diamond Roof reserves the right to alter, amend or delete part or whole of the privileges of the Jewellery Purchase Plan without prior notice to the Subscriber: as long as the same is not detrimental to the interest of the existing Subscribers.
  5. Vasundhara Diamond Roof is the operator of the Plan and reserves the right to suspend the Plan at any time. In any such events the Subscriber may purchase any diamond jewellery and/or gold studded jewellery at Vasundhara Diamond Roof's outlets equal to the value of the advance amounts accumulated in his/her Plan account along with discounts accumulated as on that day.
V. Statutory & Dispute Terms
  1. PAN Requirement: PAN is mandatory for purchases of Rs. 2,00,000/- or above or such other threshold as may be prescribed under applicable law.
  2. Company Discretion: Any matter not expressly covered herein shall be dealt with the discretion of Vasundhara Diamond Roof Private Limited in accordance with applicable law and internal policies. Vasundhara Diamond Roof's decision in this regard shall be final and binding.
  3. Force Majeure: Vasundhara Diamond Roof shall not be liable for any delay, interruption, or failure in performance of its obligations under the Jewellery Purchase Plan arising due to events beyond its reasonable control, including but not limited to natural calamities, acts of God, pandemics, governmental restrictions, strikes, system failures, banking disruptions, technical failures, or regulatory actions.
  4. Jurisdiction: Any disputes arising out of or relating to the Jewellery Purchase Plan shall be subject to the exclusive jurisdiction of the competent courts at Hyderabad, Telangana.
  5. Regulatory Changes: In the event of any change in applicable laws, rules, regulations, or directions issued by any regulatory authority, Vasundhara Diamond Roof reserves its right to modify, amend, suspend, or discontinue the Jewellery Purchase Plan to ensure compliance with such legal or regulatory requirements, and the same shall be binding on the Subscriber.
"I confirm that I have read, understood, and agreed to the terms and conditions of the Jewellery Purchase Plan."
Mandatory Documents Required at Enrolment:
  • Address Proof: Aadhaar / Driving License / Voter ID / Passport
  • ID Proof: PAN Card / Form 60 / Form 97
  • Bank Account Details: Cancelled Cheque / Passbook Front Page / Bank Statement 1st page (with visible Account details)
Registered & Corporate Office:

Vasundhara Diamond Roof Private Limited
Plot No: 773, Road No: 45, Jubilee Hills, Hyderabad, Telangana, India - 500033

Mobile: +91 9676126204
Email: plans@vasundharadiamondroof.com

Hyderabad Showroom Plot No: 773, Road No: 45, Jubilee Hills
Phone: +91 9676126204
Vijayawada Showroom Vasundhara Diamond Roof Outlet
Phone: +91 8886369227
Visakhapatnam Showroom Vasundhara Diamond Roof Outlet
Phone: +91 9848697333