Terms & Conditions

These Terms and Conditions (“Terms”) constitute a legally binding agreement between you (“Applicant”, “You”, “Your”) and Mahan Industries Ltd., an RBI-registered Non-Banking Financial Company (NBFC) incorporated under the Companies Act, 1956, operating its digital lending platform under the brand name Credit Mines. These Terms govern your access to and use of the Credit Mines website, mobile application, and all associated digital services (collectively, the “Platform”), as well as the submission of loan applications and the availing of credit facilities through the Platform.

By accessing the Platform, registering an account, or submitting a loan application, you confirm that you have read, understood, and unconditionally agree to be bound by these Terms, the Privacy Policy, and any other policies published by Credit Mines, as amended from time to time. IF YOU DO NOT AGREE TO THESE TERMS OR ANY PART THEREOF, PLEASE DO NOT USE, ACCESS, DOWNLOAD, OR INSTALL THE PLATFORM OR ANY PART THEREOF.

These Terms are to be read in conjunction with the Loan Agreement, Key Fact Statement, Sanction Letter, and Privacy Policy applicable to you, all of which together constitute the full contractual framework governing your relationship with Credit Mines.

I. INTRODUCTION AND PLATFORM OVERVIEW

Credit Mines is the proprietary digital lending platform and brand of Mahan Industries Ltd., an RBI-registered NBFC. All loan products offered, processed, sanctioned, and disbursed through the Credit Mines Platform are originated and provided directly by Mahan Industries Ltd. All credit decisions are made solely and exclusively by Mahan Industries Ltd.

Credit Mines is designed to facilitate a seamless, paperless, and digitally enabled borrowing experience for eligible individuals in India. The Platform enables users to submit loan applications, complete KYC verification, receive loan offers, execute loan agreements, and manage their loan accounts, all through a secure digital interface.

The brand name “Credit Mines”, its logo, trademarks, service marks, and all associated intellectual property are the exclusive property of Mahan Industries Ltd. Unauthorized use, reproduction, or imitation of the Credit Mines brand or identity in any form is strictly prohibited and may result in legal action.

Submission of an application through Credit Mines does not constitute automatic approval of any loan or credit facility. Mahan Industries Ltd. retains the sole and absolute discretion to approve, decline, modify, or cancel any application, including determination of loan amount, tenure, interest rate, and other terms, subject to applicable law and RBI directions. No reason shall be required to be assigned for rejection unless mandated under applicable law.

II. ELIGIBILITY

To use the Credit Mines Platform and apply for a loan, you must satisfy all of the following conditions:

You must be a citizen of India;
You must be a natural person who has attained the minimum age of 18 years and is legally competent to enter into a binding contract under applicable Indian law;
You must be solvent and must not be subject to any insolvency, bankruptcy, or debt restructuring proceedings;
You must possess a valid bank account, active mobile number, and a valid PAN card or other KYC documents as required under applicable RBI directions;
You must not have been declared a willful defaulter or be subject to any adverse order from the RBI, SEBI, or any other competent regulatory authority;
All representations and warranties contained in the application form, these Terms, and any Loan Agreement must be true, accurate, and complete at the time of submission and throughout the tenure of the loan;
All conditions precedent as Credit Mines may specify, must have been fulfilled to the satisfaction of Mahan Industries Ltd.

Credit Mines reserves the right to verify your eligibility at any time and to suspend, terminate, or reject your application or account if any eligibility condition is found to be unsatisfied, misrepresented, or no longer met. Use of the Platform by automated bots, scripts, or other non-human means is strictly prohibited.

III. ACCOUNT CREATION AND SECURITY

In order to use the Platform and apply for a loan, you will be required to create an account by registering with your mobile number and completing verification through a One Time Password (OTP) or such other authentication method as adopted by Credit Mines in compliance with applicable law.

By creating an account, you agree to the following:

You will provide accurate, complete, and up-to-date information at all times, including at the time of registration and throughout the use of the Platform;
You will maintain only one account on the Platform. Creation of multiple accounts is prohibited;
You are solely responsible for all activity that occurs under your account, including all loan applications submitted and all transactions carried out;
You will keep your login credentials, OTP, PIN, and password strictly confidential and will not share them with any third party;
You will notify Credit Mines immediately at care@creditmines.com if you become aware of any unauthorized access to or use of your account.

Credit Mines shall not be liable for any loss or damage arising from your failure to safeguard your account credentials or from any unauthorized use of your account resulting from your own negligence or failure to comply with these Terms.

Credit Mines reserves the right to suspend or terminate your account at any time, with or without notice, if it has reasonable grounds to believe that the information provided by you is false, incomplete, or misleading, or if you have violated any of these Terms or applicable laws.

IV. LOAN APPLICATION AND CREDIT ASSESSMENT

The Credit Mines Platform enables you to submit a loan application to Mahan Industries Ltd. for assessment and consideration. By submitting an application, you authorize Credit Mines and their respective employees, agents, representatives, service providers, and authorized third parties to carry out the following activities:

Conduct credit checks, verify references, and make such enquiries as may be deemed necessary in connection with your loan application;
Obtain, collect, verify, use, process, and share information from and with any statutory authority, credit bureau, bank, financial institution, Central KYC Registry, verification agency, account aggregator, or any other authorized third party as necessary for loan processing, credit underwriting, risk assessment, and regulatory compliance;
Conduct KYC verification, including video KYC, e-KYC, Aadhaar-based verification, or such other verification methods as may be adopted in accordance with applicable law;
Access your credit report from credit information companies including CIBIL, Experian, CRIF High Mark, and Equifax, for the purpose of determining your credit eligibility.

Mahan Industries Ltd. will undertake a credit assessment of your application using its internal credit evaluation models, risk frameworks, and applicable regulatory guidelines. The submission of an application does not create any obligation on Mahan Industries Ltd. to sanction a loan, and the final credit decision rests entirely at its discretion. No representation or guarantee is made that any loan applied for will be approved or disbursed.

In the event your application is declined, Credit Mines are not required to provide reasons for the decision, except as mandated under applicable law.

V. Declaration of Accuracy and Applicant Obligations

By submitting an application or using the Platform, you declare, represent, and warrant the following:

All particulars, statements, information, and documents submitted on the Credit Mines Platform or otherwise provided to Credit Mines are true, correct, complete, valid, and up to date in all respects, and no material information has been withheld;
You have not suppressed, concealed, or misrepresented any fact material to the assessment of your loan application;
The documents submitted by you are genuine, authentic, and have not been tampered with or forged;
You will promptly inform Credit Mines of any change in your name, address, contact details, occupation, employment, income, financial condition, or any other information material to the loan, throughout the tenure of the loan facility.

Any misrepresentation, concealment, or furnishing of false or incorrect information shall entitle Credit Mines to reject the application, cancel or recall the loan, and/or initiate such civil, criminal, or regulatory action as may be appropriate under applicable law.

VI. End-Use of Credit Facility

The Applicant agrees and undertakes that the credit facility sanctioned and disbursed pursuant to these Terms shall not be used, directly or indirectly, for any of the following purposes:

Any unlawful, illegal, unauthorized, anti-social, or prohibited purpose;
Any speculative, fraudulent, or improper activity;
Any purpose that is contrary to the directions, guidelines, or regulations of the Reserve Bank of India or any other competent regulatory authority;
Purchase or trading of securities, derivatives, or any other financial instruments in a manner prohibited under applicable law.

Any credit facility shall be provided only if permitted and sanctioned in the manner specified by the Reserve Bank of India and other applicable regulatory authorities. In the event of loan cancellation after disbursement, the Applicant shall be liable to pay proportionate interest, fees, charges, and all other dues on the outstanding loan amount in accordance with the Sanction Letter, Key Fact Statement, Loan Agreement, and applicable law.

VII. Communication Authorization

By registering on and using the Credit Mines Platform, you authorize Credit Mines, and their respective employees, agents, representatives, and authorized service providers, to contact, communicate, and correspond with you through any of the following modes:

Telephone calls and mobile communications;
SMS, WhatsApp, email, push notifications, and other digital communication channels;

Such communications may relate to your loan application, loan account, repayment schedule, customer support, collections, recovery, legal or regulatory notices, or promotional offers and products of Credit Mines, where you have provided consent for the same.

You acknowledge that by registering on the Platform and providing your mobile number, you authorize Credit Mines to send transactional SMS, OTP communications, and service notifications even if your number is registered under the Do Not Disturb (DND) or National Customer Preference Register (NCPR) services, to the extent permitted under applicable law.

You may withdraw consent for promotional communications at any time by writing to care@creditmines.com. Such withdrawal shall not restrict communications that are transactional, service-related, legal, regulatory, or otherwise required for administering the loan or enforcing contractual rights.

VIII. Document Retention

All documents and records submitted through Credit Mines, including photographs, selfies, video KYC recordings, application forms, declarations, and electronic records, whether in electronic form, may be retained by Credit Mines in accordance with applicable law, internal record-retention requirements, and regulatory directions.

Documents and records so retained shall not be required to be returned to the Applicant. The Applicant expressly waives any claim in respect thereof, subject to applicable statutory rights.

All data and documents are stored on servers located in India, in compliance with applicable data localization requirements under RBI directions and applicable law.

IX. Data Privacy and Personal Data Processing

All personal information and sensitive personal data collected during the application process and throughout the loan lifecycle through Credit Mines shall be collected, stored, processed, used, disclosed, transferred, and retained by Credit Mines in accordance with applicable law, including the Information Technology Act, 2000, the Digital Personal Data Protection Act, 2023, and applicable RBI directions.

By using the Platform and submitting your application, you authorize Credit Mines to share your personal data with the following categories of entities on a need-to-know basis, strictly for the purposes described in the Credit Mines Privacy Policy:

Credit information companies and credit bureaus such as CIBIL, Experian, CRIF High Mark, and Equifax;
KYC and identity verification agencies, account aggregators, and payment service providers;
Technology partners, device intelligence service providers, and fraud detection service providers;
Recovery and collection agencies engaged by Mahan Industries Ltd. for loan servicing and recovery;
Statutory authorities, regulators, auditors, and law enforcement agencies, as required under applicable law.

All sharing of personal data with third parties is subject to appropriate confidentiality obligations. Explicit consent shall be obtained before sharing personal information with any third party, except where such sharing is required under statutory or regulatory mandate or is otherwise permitted by law.

Your rights in relation to your personal data, including the right to access, correct, withdraw consent, and request deletion, are described in detail in the Credit Mines Privacy Policy available at www.creditmines.com. The Privacy Policy is incorporated into and forms a part of these Terms.

X. Submission to Regulatory and Statutory Bodies

The Applicant hereby authorizes Credit Mines to submit the application form and any other relevant documents and information to the following, as required or permitted under applicable law:

The Central Registry and the Central KYC Registry (CKYC);
Credit information companies and credit bureaus;
The Reserve Bank of India and such other statutory, regulatory, or authorized agencies as may be required.

The Applicant consents to receive information, alerts, and updates from the Central KYC Registry and other such authorities through SMS, email, or other electronic communication modes on the Applicant’s registered contact details.

XI. Electronic Records, Digital Signatures, and OTP Authentication

The Applicant agrees and acknowledges that electronic records, OTP-based confirmations, digital acceptance, electronic signatures, and electronic authentication executed or provided in relation to any application or loan document through Credit Mines shall be valid, binding, and enforceable to the fullest extent permitted under applicable law, including the Information Technology Act, 2000.

The Applicant agrees that the electronic acceptance of these Terms, the Loan Agreement, and all ancillary documents through Credit Mines shall carry the same legal force and effect as execution of a written and signed physical document.

The Applicant is solely responsible for maintaining the confidentiality of any OTP, PIN, password, or access credentials used on the Credit Mines Platform, and must promptly notify Credit Mines at care@creditmines.com of any suspected unauthorized access or misuse.

XII. KYC and Anti-Money Laundering Compliance

The Applicant agrees to furnish such KYC documents, information, and declarations as may be required under RBI directions, the Prevention of Money Laundering Act, 2002 (PMLA), CKYC norms, and any other applicable legal or regulatory framework, without any objection.

The Applicant declares and confirms that:

The source of funds for repayment of the loan is legitimate and lawful;
Neither the Applicant nor any beneficial owner connected with this application is subject to any sanction, debarment, or adverse order issued by any competent authority;
All documents and information submitted for KYC purposes are genuine and accurate.

Credit Mines reserve the right to undertake enhanced due diligence and to suspend, terminate, or report any transaction or relationship in case of suspected money laundering, terrorist financing, fraud, or breach of applicable KYC or anti-money laundering regulations to the relevant authorities.

XIII. Prohibited Uses

In addition to the restrictions set out elsewhere in these Terms, you agree not to, by any means:

Use the Platform for any unlawful, fraudulent, or unauthorized purpose;
Attempt to gain unauthorized access to the Platform or any systems, networks, or servers connected to it;
Restrict or inhibit any authorized user from using the Platform;
Reproduce, modify, distribute, sell, reverse-engineer, scrape, or commercially exploit any content or technology of Credit Mines without the prior written consent of Mahan Industries Ltd.;
Transmit any software, code, or material that contains viruses, Trojan horses, worms, time bombs, malware, or any other harmful or disruptive components;
Engage in spamming, phishing, data mining, scraping, or any automated collection of data from the Platform;
Submit false, misleading, or fabricated information or documents;
Impersonate any person or entity, or misrepresent your identity or affiliation;
Harass, abuse, defame, or discriminate against any person;
Use the Platform in any manner that could damage, disable, or impair the Platform or interfere with any other user’s enjoyment of the Platform.

Credit Mines reserves the right to terminate your account and take all appropriate legal action in the event of any violation of these prohibited use restrictions.

XIV. License and Access

Subject to your compliance with these Terms, Credit Mines grants you a limited, non-exclusive, non-transferable, and revocable license to access and use the Platform solely for the purpose of submitting a loan application and availing related services. No other right or license is granted, whether express or implied.

This license does not permit you to:

Download, copy, or reproduce any content from the Platform for any commercial purpose;
Frame or mirror any part of the Platform without prior written authorization;
Use any data mining, robots, or similar data gathering and extraction tools on the Platform;
Resell, sublicense, or transfer access to the Platform to any third party.

Any unauthorized use of the Platform shall immediately terminate the license granted by Credit Mines and may result in legal action.

XV. Intellectual Property

All content, technology, software, design, interfaces, branding, logos, trademarks, and intellectual property available on or through the Credit Mines Platform are proprietary to Mahan Industries Ltd. and are protected under applicable intellectual property laws of India.

Nothing in these Terms shall be construed as conferring upon you any license or right in respect of any intellectual property of Mahan Industries Ltd, other than the limited access license described in Section 14 above.

XVI. Limitation of Liability and Disclaimer

The Credit Mines Platform and all services provided through it are made available on an “as is” and “as available” basis. Mahan Industries Ltd. make no representations or warranties of any kind, express or implied, as to the operation of the Platform, the accuracy or completeness of any content, or the availability or continuity of the services.

To the maximum extent permitted by applicable law, Mahan Industries Ltd. shall not be liable for:

Any indirect, incidental, special, consequential, exemplary, or punitive damages, including loss of profits, loss of data, or loss of business opportunity;
Technical failures, interruptions, errors, or downtime of the Platform;
Unauthorized access to your account arising from your own negligence or failure to safeguard your credentials;
Decisions made on the basis of information provided by you that is found to be inaccurate, incomplete, or false;
Actions of third parties, including credit bureaus, regulatory authorities, payment service providers, or technology partners;
Any loss or damage arising from your use of or inability to use the Platform.

The aggregate liability of Mahan Industries Ltd. in connection with any claim arising under these Terms shall, to the maximum extent permitted by applicable law, not exceed the fees, if any, actually paid by you to Credit Mines in connection with the specific transaction giving rise to the claim.

Credit Mines does not guarantee that access to the Platform will be uninterrupted, error-free, or free from viruses or other harmful components. You are responsible for implementing adequate safeguards on your own systems and devices.

XVII. Indemnity

You agree to defend, indemnify, and hold harmless Mahan Industries Ltd., and their respective officers, directors, employees, agents, representatives, and authorized service providers from and against any and all claims, demands, losses, damages, liabilities, costs, and expenses (including reasonable legal fees) arising out of or related to:

Your use or misuse of the Platform or any services offered through it;
Any violation by you of these Terms, the Privacy Policy, or any other applicable policy;
Any breach of the representations, warranties, or declarations made by you;
Your infringement of any intellectual property right or other right of any person or entity;
Any false, misleading, or fraudulent information submitted by you on the Platform;
Any violation of applicable law or regulatory requirement.

This indemnification obligation shall survive the termination of these Terms and your use of the Platform.

XVIII. Third-Party Links and Services

The Credit Mines Platform may contain hyperlinks or redirections to third-party websites, applications, or services. These links are provided solely for your convenience. Credit Mines does not monitor, endorse, or exercise any control over the content, privacy practices, or terms of use of such third-party platforms.

Your interaction with any third party accessed through the Platform is entirely at your own risk. Mahan Industries Ltd. disclaim all liability for any loss or damage arising from your use of third-party websites or your reliance on any information found on such websites. You are strongly advised to review the terms and privacy policies of any third-party platform before submitting any personal or financial information.

XIX. Promotional Offers and Referral Programs

Credit Mines may, from time to time, introduce promotional offers, referral programs, or reward schemes to promote the Platform and its services. All such offers will be subject to these Terms and any additional terms and conditions specific to the applicable offer, which will be communicated to you through the Platform.

Credit Mines reserves the right to modify, suspend, discontinue, or withdraw any promotional offer or reward scheme at any time at its sole discretion, without prior notice. No promotional offer shall create any contractual right to a loan, discount, or other benefit unless expressly stated.

XX. Force Majeure

Mahan Industries Ltd. shall not be liable for any failure or delay in the performance of any obligation under these Terms if such failure or delay is caused by circumstances beyond their reasonable control, including but not limited to acts of God, natural disasters, pandemics, epidemics, fires, floods, earthquakes, wars, civil unrest, strikes, government orders, regulatory actions, power failures, telecommunications failures, or failures of third-party service providers.

In such circumstances, the affected party will endeavor to resume performance as soon as reasonably practicable and will notify the other party of nature and expected duration of the force majeure event.

XXI. Amendments and Updates

Mahan Industries Ltd. reserve the right to amend, revise, or update these Terms at any time, subject to applicable law and regulatory requirements. The revised Terms shall be published on the Credit Mines website and mobile application.

Continued use of the Credit Mines Platform or submission of any application after the publication of revised Terms shall constitute your acceptance of the revised Terms. You are advised to review these Terms periodically. Credit Mines may, but are not obligated to, notify you of material changes to these Terms through the Platform or by email.

XXII. Governing Law and Jurisdiction

These Terms and any dispute or claim arising out of or in connection herewith shall be governed by and construed in accordance with the laws of the Republic of India, without reference to its conflict of laws principles.

Subject to any mandatory arbitration provisions under the Loan Agreement, the courts of competent jurisdiction at Ahmedabad, Gujarat shall have exclusive jurisdiction to adjudicate any dispute, claim, or controversy arising out of or in connection with these Terms.

XXIII. Severability and Waiver

If any provision of these Terms is held by a court of competent jurisdiction to be unlawful, void, invalid, or unenforceable, such provision shall be severed from these Terms, and the remaining provisions shall continue in full force and effect to the maximum extent permitted by law.

The failure of Mahan Industries Ltd. to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision, unless acknowledged and agreed to in writing by an authorized representative.

XXIV. Entire Agreement

These Terms, together with the Loan Agreement, Key Fact Statement, Sanction Letter, and Privacy Policy applicable to you, constitute the entire agreement between the Applicant and Credit Mines/Mahan Industries Ltd. with respect to the subject matter hereof and supersede all prior representations, understandings, or agreements, whether written or oral, relating to the same subject matter.

XXV. Grievance Redressal

If you have any complaints, feedback, or concern relating to the Credit Mines Platform or any services provided through it, you may contact our Grievance Officer using the details below:

Grievance Officer: Credit Mines (Mahan Industries Ltd.)

Email: gro@creditmines.com

Website: www.creditmines.com

Working Hours: Monday to Friday, 10:00 AM to 7:00 PM (IST)

We will endeavor to acknowledge and respond to all grievances within 48 to 72 hours of receipt. If you are not satisfied with the resolution provided, you may escalate the matter to the appropriate regulatory authority, including the Reserve Bank of India’s Integrated Ombudsman Scheme, as applicable.

Applicant Declaration

I/We confirm that I/we have read, or have had read and explained to me/us, these Terms and Conditions, the application form, and all other materials made available on the Credit Mines website and/or mobile application in English and/or Hindi, and I/we have fully understood the contents thereof. I/We agree to be bound by these Terms and all applicable policies of Credit Mines and Mahan Industries Ltd., as amended from time to time. I/We declare that all information provided by me/us is true, correct, complete, and up to date, and I/we accept full responsibility for any consequences arising from any inaccuracy or omission in the information provided.

Terms & Conditions