Effective Date: May 30th 2025
Entity: FUNDJONE, operated by SUPERVISIONSET PRIVATE LIMITED
Jurisdiction: Republic of India, High Court of Odisha, Cuttack
Reference Laws: Companies Act, 2013; IT Act, 2000; Contract Act, 1872; IPC; SEBI Regulations
SECTION 1: LEGAL NATURE AND LIMITATIONS OF SERVICES
FUNDJONE functions as a cloud-hosted network-based crowdfunding facilitation
interface, enabling users to engage in structured, voluntary monetary contributions across
self-driven digital hierarchies. The entity expressly disavows classification as any of the
following:
- A “Banking Company” or “NBFC” under Section 45-I(f) of the Reserve Bank of India Act, 1934
- An “Investment Adviser” under the SEBI (Investment Advisers) Regulations, 2013
- A “Collective Investment Scheme” under Regulation 2(1)(h) of the SEBI (CIS) Regulations, 1999
Accordingly, FUNDJONE does not accept public deposits, invest pooled capital, or manage assets, nor is it governed by fiduciary investment obligations under any Indian securities legislation.
Judicial Implication:
FUNDJONE is a technology service platform under the meaning of an “intermediary” per Section 2(w) and Section 79 of the Information Technology Act, 2000, limiting its liability for third-party user conduct, absent actual knowledge or intent.
SECTION 2: NON-INVESTMENT CHARACTER AND EARNING DISCLAIMER
In accordance with Section 10 of the Indian Contract Act, 1872 (lawful consideration), all earnings demonstrated or implied through charts, projections, or user experiences on the FUNDJONE platform are purely illustrative and not a guarantee under contractual, tortious, or quasi-contractual obligation.
The platform shall not be construed to have extended a warranty, assurance, or representation under Section 18 of the Indian Contract Act (misrepresentation) or Section 420 IPC (cheating).
Judicial Implication:
Users affirm they are entering into participation with informed consent, waiving any claim of expectancy damages under Section 73–74 of the Contract Act in the event of non-receipt of income.
SECTION 3: NON-REFUNDABLE POLICY ON SUBSCRIPTION CHARGES
All subscription fees or access-based charges levied by FUNDJONE are final and non refundable. This is governed by the principles of executed contracts under Section 65 and Section 70 of the Indian Contract Act, 1872—which disallow restitution once services are rendered voluntarily and utilized.
The platform is not bound to process refunds, whether arising from service dissatisfaction, non-participation by downlines, administrative reassignment, or cessation of earnings.
Judicial Implication:
Users forfeit any legal remedy based on expectation, quantum meruit, or misrepresentation once funds are remitted, thereby constituting a legally binding waiver.
SECTION 4: USER CONDUCT AND LIABILITY
Users shall be solely liable for all data, text, or digital communications posted or circulated using the platform. FUNDJONE, as an intermediary under Section 79 of the IT Act, 2000, is exempt from liability unless proven to have actual knowledge of unlawful activity.
Unlawful conduct includes:
- Defamatory content (Sections 499–500 IPC)
- Insult with intent to provoke (Section 504 IPC)
- Obscene acts (Section 292 IPC)
- Violation of IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021
Judicial Implication
Any claim of harm or injury resulting from peer communication must be directed toward the originating user, and not the platform operator.
SECTION 5: PLATFORM AVAILABILITY, MAINTENANCE, AND FORCE MAJEURE
FUNDJONE shall not be held liable for temporary or permanent disruptions arising from software maintenance, upgrades, server outages, cyber incidents, or third-party failures. This constitutes a classic force majeure event under Section 32 and 56 of the Indian Contract Act, rendering obligations impossible to perform.
Additionally, the doctrine of frustration of contract applies where platform availability is hindered due to factors beyond administrative control.
Judicial Implication:
No cause of action shall lie in tort or contract for such failures, except in cases of gross negligence proven beyond reasonable doubt.
SECTION 6: NON-INTEGRATION WITH EXTERNAL PAYMENT SYSTEMS
As of the Effective Date, FUNDJONE does not incorporate third-party payment gateways, e wallets, merchant plug-ins, or external CRMs. All transactions occur within the self contained system defined and governed by internal policy.
Fraudulent claims or representations made outside the platform using FUNDJONE’s brand shall invite criminal and civil penalties under:
- Section 66D IT Act, 2000 (cheating by personation using computer resource)
- Section 415 IPC (cheating)
- Section 406 IPC (criminal breach of trust)
Judicial Implication:
The platform disclaims all liability for third-party misuse and shall fully cooperate with law enforcement to prosecute offenders.
SECTION 7: DISCLAIMER ON CHARITY AND PUBLIC WELFARE ENGAGEMENTS
FUNDJONE may promote or facilitate voluntary donations to registered public trusts, NGOs, or welfare bodies. However, these initiatives:
- Do not constitute a part of its commercial platform activities
- Are not governed under its revenue model
- Are excluded from any statutory obligation under Section 12AA or 80G of the Income Tax Act, 1961
Donations, once made, are not refundable or traceable, and accountability rests solely with the recipient entity.
Judicial Implication:
FUNDJONE disclaims fiduciary responsibility, and no legal claim can be brought against it for misuse, misappropriation, or failure of utilization by third-party NGOs or trusts.
SECTION 8: LIMITATION OF LIABILITY
To the maximum extent permitted by Indian law, FUNDJONE, SUPERVISIONSET PRIVATE LIMITED, and their officers, agents, or affiliates shall not be liable for:
- Direct or consequential economic losses
- Network dropouts or inactivity
- Data breaches or downtime
- Income disruptions or peer disputes
This is in line with Section 73 of the Indian Contract Act, 1872, and Section 65B of the Indian Evidence Act, 1872 (validity of electronic records).
Judicial Implication:
Any claim for damages shall be contractually waived, and users are bound by a limitation of remedy clause, enforceable in any court of law.
SECTION 9: GOVERNING LAW AND JURISDICTION
This Disclaimer and all user disputes arising in relation to the FUNDJONE platform shall be interpreted, enforced, and adjudicated under the laws of the Republic of India, with exclusive territorial jurisdiction vested in the Hon’ble High Court of Odisha at Cuttack, as per:
- Section 20, Civil Procedure Code, 1908 (place of suing)
- Arbitration and Conciliation Act, 1996
- Mediation Act, 2023 (pre-litigation mediation, optional)
Users irrevocably submit to this jurisdiction and waive all challenges to venue or forum.
SECTION 10: RIGHT TO MODIFY, AMEND, AND ENFORCE TERMS
FUNDJONE reserves the absolute and unilateral right to alter this Disclaimer, with or without prior notice, under its Terms of Use. Continued use post-amendment shall constitute constructive acceptance.
This provision is grounded in:
- Section 14 of the Indian Contract Act (Free consent)
- Section 66A of IT Act (where applicable)
- Doctrine of reasonable notice from Indian contract law jurisprudence
Judicial Implication:
Users waive the right to challenge modified terms unless demonstrably prejudiced under statutory or constitutional grounds.
FINAL CLAUSE
This Disclaimer is to be read conjunctively with the FUNDJONE Terms of Service, Privacy Policy, and Earnings Disclaimer, forming an integrated contractual framework enforceable under Indian law.