1. NATURE OF SERVICES

Silvra operates as a technology-enabled digital marketplace that facilitates the purchase, sale, and management of digital gold (24-karat purity) and digital silver (99.9% purity) for retail users across India. The Platform enables users to invest in fractional quantities of precious metals starting from as little as ₹10, track the real-time valuation of their portfolio based on live domestic and international market prices, set up automated investment schedules through UPI Autopay mandates, and request the conversion of their digital holdings into physical coins and bars for home delivery. Every unit of digital gold and silver purchased through the Platform is fully backed by an equivalent quantity of physical precious metal, which is stored in secure, insured vaults operated by empanelled institutional-grade custodians, including MMTC-PAMP India Pvt Ltd (a joint venture with PAMP SA Switzerland, one of the world's leading precious metal refiners and a London Bullion Market Association accredited entity), Augmont Gold for All, and Sequel Vaults.

It is critically important for all users to understand that all transactions on the Silvra Platform are executed based on live market prices, which fluctuate continuously throughout trading hours in response to domestic and international bullion market conditions, currency exchange rate movements (particularly the INR/USD rate), central bank monetary policy decisions, geopolitical developments, supply-demand dynamics in the global precious metals market, and other macroeconomic factors entirely beyond the control of Silvra. The price displayed on the Platform at any given moment is indicative and may change between the time it is displayed and the time your transaction is actually executed and confirmed. The final price applicable to your transaction shall be the price prevailing at the precise moment of execution, and this price is binding once the transaction is confirmed. Silvra does not and cannot guarantee that you will be able to buy or sell at any specific price.

2. NO CANCELLATION POLICY

Once a transaction is successfully executed and confirmed on the Silvra Platform, it is final and irrevocable. This means that completed transactions cannot be cancelled, reversed, modified, or amended under any circumstances whatsoever. This strict no-cancellation policy applies universally to all categories of transactions processed through the Platform, including all gold purchase orders irrespective of the quantity or value involved, all silver purchase orders at any denomination, all sell orders for both digital gold and digital silver, and all automated transactions executed through UPI Autopay mandates or scheduled investment plans. There are no exceptions to this rule for successfully executed transactions.

The rationale behind this strict no-cancellation policy is rooted in the fundamental mechanics of how precious metals trading operates. When you place a buy or sell order on the Silvra Platform, the order is executed instantaneously at the prevailing real-time market price and is simultaneously settled with institutional liquidity providers and custodial partners. The physical precious metal corresponding to your purchase is allocated to your account in the vault within seconds of payment confirmation, or in the case of a sell order, the corresponding metal is released from your vault allocation and returned to the liquidity pool. Because these settlements occur in real-time and involve the movement of physical assets and funds between multiple institutional counterparties, reversing a confirmed transaction would require unwinding a chain of interlinked settlements across the Platform, the payment gateway, the liquidity provider, and the vault custodian — a process that is neither technically feasible nor commercially practical, particularly given the continuous movement of market prices. This settlement model is consistent with industry-standard practices adopted by leading digital gold and silver platforms in India, including those operated by refiners such as MMTC-PAMP and Augmont.

3. REFUND POLICY

For all transactions that have been successfully executed and confirmed on the Platform, no refund shall be issued under any circumstances. This includes situations where the market price of gold or silver moves adversely after your purchase, where you experience buyer's remorse or a change of mind, or where external factors beyond the control of the Platform affect the value of your holdings. A successfully completed transaction is one where your payment has been confirmed by the payment gateway, the corresponding digital gold or silver has been credited to your portfolio, and a transaction confirmation (including transaction ID, timestamp, quantity, and price) has been generated and displayed in your account history. Once these conditions are met, the transaction is final and no refund claim shall be entertained.

In the event that a transaction fails — that is, your payment has been debited from your bank account or payment instrument by the payment gateway, but the corresponding digital gold or silver has not been credited to your Silvra portfolio — the Platform's automated reconciliation system will detect the discrepancy and initiate a refund automatically without requiring any action on your part. The refund will be processed back to the original payment source (the bank account, UPI ID, credit card, or debit card from which the payment was debited) within a period of three (3) to seven (7) working days from the date of the failed transaction. The actual time taken for the refund to reflect in your account may vary depending on the processing timelines of your bank, the payment gateway (Razorpay), the National Payments Corporation of India (NPCI) in the case of UPI transactions, and the card network (Visa, Mastercard, or RuPay) in the case of card transactions. Silvra shall not be liable for any delays in the refund process that are attributable to the processing timelines of these third-party financial intermediaries.

In cases where a technical glitch, payment gateway error, or system malfunction causes the same transaction to be charged multiple times — resulting in duplicate or multiple debits from your account for a single purchase — Silvra will identify the duplicate charges through its automated settlement reconciliation process and will initiate a refund of the excess amount to your original payment source within three (3) to seven (7) working days. If you notice a duplicate charge that has not been automatically identified and reversed, you should report it to our support team at support@silvras.com within forty-eight (48) hours of the transaction, providing the transaction IDs, timestamps, and screenshots of the debits from your bank statement. Our team will investigate the matter on a priority basis and process the refund within the aforementioned timeframe.

Where a transaction failure is caused by a payment gateway timeout, network connectivity issue, session expiry, or any other technical error within the payment processing infrastructure, the refund shall be processed directly by the payment gateway operator (Razorpay) or the acquiring bank in accordance with their standard refund processing procedures. In such cases, Silvra acts as a facilitator and shall cooperate with the payment gateway and banking partners to expedite the refund, but shall not be independently liable for delays or errors in the refund processing chain that are attributable to third-party payment infrastructure providers.

4. DELIVERY ORDERS

When you request the conversion of your digital gold or silver holdings into physical precious metals for home delivery, the equivalent quantity of digital metal is immediately and irreversibly deducted from your portfolio at the moment the delivery request is confirmed. The physical product is then prepared for dispatch from the vault facility of our custodial partner, packaged in tamper-evident, sealed packaging with a certificate of purity and authenticity, and handed over to our logistics partner for delivery to the address registered in your account. Once a delivery request has been confirmed and the digital metal deduction has been processed, the order cannot be cancelled, modified, or reversed under any circumstances, and no refund shall be issued. This is because the physical metal has already been allocated, weighed, assayed, packaged, and dispatched, making reversal commercially and logistically impracticable.

Notwithstanding the above, Silvra recognises that exceptional circumstances may arise during the transit and delivery process. Accordingly, refunds or replacements may be considered solely in the following narrowly defined situations: where the physical product received is visibly damaged, dented, scratched, or otherwise compromised as a result of mishandling during transit by the logistics carrier; where the physical product delivered does not match the specifications of the order (for example, if you ordered a 1-gram gold coin but received a 0.5-gram coin, or if the purity specification does not match the certificate); or where the sealed, tamper-evident packaging has been visibly opened, compromised, or tampered with upon receipt. In all such cases, you must report the issue within forty-eight (48) hours of delivery by emailing support@silvras.com with clear photographic evidence of the damage, discrepancy, or tampering, including photographs of the product, the packaging, the shipping label, and the certificate of authenticity. Claims submitted after the forty-eight-hour window, or without adequate photographic evidence, shall not be entertained. Silvra reserves the sole discretion to determine whether a refund, replacement, or exchange is warranted based on the evidence provided and the findings of its investigation.

5. FRAUD & ABUSE

Silvra maintains a zero-tolerance stance against fraud, abuse, and any attempt to manipulate or exploit the refund and cancellation mechanisms of the Platform. Our dedicated fraud detection and risk management systems continuously monitor all transactions, refund requests, and account activity for patterns indicative of fraudulent behaviour, including but not limited to the submission of false or fabricated claims of transaction failure, the deliberate exploitation of payment gateway errors to obtain unauthorised refunds, collusion between multiple accounts to generate artificial refund claims, the use of stolen or compromised payment instruments to make purchases followed by refund requests to a different account, and any other activity that constitutes an abuse of the refund process or a violation of the terms of this Policy.

Where Silvra, in its sole and reasonable discretion, determines that a refund request is fraudulent, abusive, or part of a pattern of policy exploitation, we reserve the right to reject the refund request without further justification, immediately suspend or permanently terminate the user's account and forfeit any outstanding balances or holdings in that account (subject to applicable regulatory requirements), report the fraudulent activity to the relevant law enforcement authorities including the Cyber Crime Cell, the Economic Offences Wing, and the Financial Intelligence Unit – India (FIU-IND), share information about the fraudulent activity with our payment gateway partners, banking partners, and industry fraud prevention databases, and pursue civil and criminal remedies against the perpetrator to the fullest extent permitted under Indian law, including the Information Technology Act, 2000, the Indian Penal Code, 1860, and the Prevention of Money Laundering Act, 2002.

6. REFUND MODE

All eligible refunds will be processed by crediting the refund amount back to the original payment method that was used to make the transaction. If the original payment was made via UPI, the refund will be credited to the same UPI-linked bank account. If the original payment was made via a debit or credit card, the refund will be reversed to the same card. If the original payment was made via net banking, the refund will be credited to the same bank account from which the payment originated. Silvra does not process refunds to payment methods other than the original source of funds, and under no circumstances shall refunds be processed in cash, cryptocurrency, or any payment instrument not originally used for the transaction. This policy is in place to comply with anti-money laundering (AML) regulations and to prevent the misuse of refund mechanisms for illegitimate fund transfer purposes.

In rare and exceptional circumstances where a direct reversal to the original payment method is technically not possible — for example, if the original payment card has expired, been cancelled, or replaced by the issuing bank, or if the UPI ID has been delinked from the associated bank account — we may require you to provide details of a verified and KYC-compliant bank account in your name to which the refund can be processed via NEFT, RTGS, or IMPS transfer. In such cases, you will be required to provide a cancelled cheque or a bank statement confirming the account details, along with a signed declaration that the account belongs to you and is linked to the same PAN number registered on the Silvra Platform. Refunds in such cases may take an additional five (5) to ten (10) working days beyond the standard refund timeline.

7. PROCESSING DELAYS

Silvra operates solely as a technology platform and marketplace facilitator and is not a bank, payment service provider, or financial institution. Once we have initiated a refund from our end, the actual time taken for the refund amount to reflect in your bank account or payment instrument is entirely dependent on the processing timelines and operational schedules of external parties, including the payment gateway operator (Razorpay), the acquiring bank, the issuing bank, the National Payments Corporation of India (NPCI) in the case of UPI transactions, and the card network (Visa, Mastercard, or RuPay) in the case of card transactions. While the standard refund processing timeline is three (3) to seven (7) working days, in some cases — particularly during periods of high transaction volumes, bank holidays, system maintenance windows, or technical disruptions in the banking or payment infrastructure — the refund may take longer to process.

Silvra shall not be held liable for any delays in the refund process that are caused by, or attributable to, the processing timelines of external banks, payment gateways, card networks, or any other third-party financial intermediary involved in the refund chain. If your refund has not been reflected in your account within ten (10) working days of the initiation date, we recommend that you first check with your bank or card issuer to confirm whether the refund has been received and is pending clearance on their end. If the issue remains unresolved, please contact our support team at support@silvras.com with the relevant transaction ID and refund reference number, and we will coordinate with our payment partners to trace the refund and resolve the matter.

8. DISPUTE RESOLUTION

If you encounter any issue with a transaction, refund, or any other aspect of the services provided through the Silvra Platform, we encourage you to first contact our customer support team at support@silvras.com with full details of the transaction in question, including the transaction ID, date and time of the transaction, the amount involved, and a clear description of the issue. Our support team will acknowledge your complaint within twenty-four (24) hours and will make every reasonable effort to investigate and resolve the matter within fifteen (15) working days from the date of receipt. For complaints specifically related to refund processing, please also provide screenshots of the debit entry from your bank statement and any reference numbers provided by your bank or payment provider.

If the dispute is not resolved to your satisfaction through our internal support process, you may escalate the matter to our designated Grievance Officer in accordance with the Information Technology Act, 2000, and the Consumer Protection (E-Commerce) Rules, 2020. The Grievance Officer shall investigate the escalated complaint, provide a reasoned response, and take corrective action where warranted. In cases where the dispute remains unresolved after exhausting the internal grievance redressal mechanism, the parties shall first attempt amicable resolution through good-faith negotiation within thirty (30) days. Failing which, the dispute shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996 (as amended), conducted by a sole arbitrator mutually agreed upon by the parties, with the seat and venue of arbitration in Hyderabad, Telangana. Subject to the arbitration clause, the courts at Hyderabad, Telangana shall have exclusive jurisdiction over any dispute arising under this Policy. Nothing in this clause shall prevent you from seeking relief through the consumer dispute redressal commissions established under the Consumer Protection Act, 2019.

9. POLICY UPDATES

Silvra reserves the right to amend, update, or modify this Refund & Cancellation Policy at any time at its sole discretion, in order to reflect changes in our business practices, the introduction of new payment methods or transaction types, evolving regulatory requirements under Indian consumer protection and e-commerce laws, or changes in the terms and conditions imposed by our payment gateway and banking partners. Any amendments to this Policy will be published on the Platform with a revised “Last Updated” date and version number. For changes that materially affect your rights or obligations under this Policy — such as changes to refund eligibility criteria, refund processing timelines, or the scope of the no-cancellation clause — we will provide advance notice of at least fifteen (15) days through email notification to your registered email address or through a prominent in-app notification.

Your continued use of the Silvra Platform after the effective date of any amendment to this Policy constitutes your acceptance of and agreement to abide by the updated terms. If you do not agree with any changes to this Policy, you must discontinue use of the Platform immediately and may request closure of your account by contacting us at info@silvras.com. Please note that account closure is subject to the settlement of any outstanding transactions, the processing of any pending refunds, and compliance with applicable regulatory retention requirements. We maintain an archive of all prior versions of this Policy, which you may request at any time by contacting our support team.

10. CONTACT

If you have any questions, concerns, or complaints regarding this Refund & Cancellation Policy, or if you wish to report a failed transaction, a duplicate charge, or any other refund-related matter, please do not hesitate to reach out to our dedicated customer support team. We are committed to providing you with a prompt and transparent resolution to all refund-related inquiries. Our support team operates during standard business hours, Monday through Friday, 10:00 AM to 6:00 PM IST, excluding public holidays.