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At Niyyam™, we are committed to providing a transparent, fair, and trustworthy investment experience. This Refund & Cancellation Policy explains the limited circumstances under which Niyyam™ may assist investors in relation to payment-related issues. Niyyam™ is a brand operated by Tech Margon Wealth Private Limited, an AMFI Registered Mutual Fund Distributor (ARN-360119). As a Mutual Fund Distributor, Niyyam™ facilitates investments in mutual fund schemes offered by various Asset Management Companies (AMCs). Niyyam™ does not receive, hold, manage, or retain investor funds, and therefore does not independently process refunds of investment amounts.
This policy explains:
The role of Niyyam™ in mutual fund investment transactions.
Circumstances under which investors may request assistance regarding payment-related issues.
The process followed for failed or non-executed transactions.
Limitations relating to refunds and cancellations.
Contact information for investor assistance.
This policy should be read together with applicable SEBI regulations, AMFI guidelines, BSE Star MF operating procedures, banking regulations, payment service provider policies, and the operational processes of the respective Asset Management Companies (AMCs).
Niyyam™ acts solely as an AMFI Registered Mutual Fund Distributor.
When an investor places an investment order through the Niyyam™ platform:
The payment is processed through authorised banking and payment infrastructure.
The investment order is transmitted through the applicable mutual fund transaction platform (such as BSE Star MF).
The investment amount is settled in accordance with the operational processes of the relevant banks, payment service providers, BSE Star MF, Registrar & Transfer Agents (RTAs), and the respective Asset Management Companies (AMCs).
Niyyam™ does not receive, hold, or control investor funds in its own bank account.
Accordingly, Niyyam™ cannot independently refund, reverse, or cancel investment amounts once they have entered the authorised transaction process.
Since Niyyam™ does not receive or hold investor funds, Niyyam™ does not provide refunds of mutual fund investment amounts. Investment amounts are processed through authorised financial institutions and mutual fund infrastructure. Any settlement, reversal, or movement of funds is carried out by the respective banks, payment service providers, BSE Star MF, RTAs, and Asset Management Companies (AMCs), in accordance with applicable regulatory and operational procedures. Accordingly, investors cannot seek refunds of successfully processed mutual fund investments from Niyyam™.
An investment request may be cancelled only if cancellation is technically and operationally possible before the investment order is successfully processed for execution.
Once an investment order has been accepted for execution through the applicable mutual fund transaction platform, cancellation may no longer be possible.
The availability of cancellation depends upon:
Payment confirmation status.
Order processing stage.
BSE Star MF processing status.
AMC processing status.
Applicable regulatory requirements.
Niyyam™ cannot guarantee cancellation after an investment order has entered the execution process.
In certain situations, an investor's bank account may be debited even though the investment order is not successfully executed.
Such situations may arise due to:
Banking network issues.
UPI or payment gateway interruptions.
Technical failures.
Settlement failures.
Connectivity issues.
Operational issues within the transaction ecosystem.
Other circumstances beyond the reasonable control of Niyyam™.
Where such situations occur, Niyyam™ will make reasonable efforts to assist the investor in coordinating with the relevant parties to determine the transaction status.
To help us investigate the matter, investors may be required to provide:
Transaction Reference Number (UTR / Bank Reference Number)
Date and time of payment
Investment amount
Registered mobile number
Registered email address
PAN (where required for verification)
Niyyam™ will coordinate with the relevant bank, payment service provider, BSE Star MF, Registrar & Transfer Agent (RTA), and/or Asset Management Company (AMC), as applicable.
The resolution of failed or non-executed transactions depends upon the investigation and settlement processes of:
Banks
Payment service providers
Payment gateways
BSE Star MF
Registrar & Transfer Agents (RTAs)
Asset Management Companies (AMCs)
Accordingly, Niyyam™ cannot guarantee any specific resolution or refund timeline, as these processes are outside our direct operational control.
While we will actively assist investors throughout the investigation process, the actual time required for resolution depends entirely on the respective financial institutions and intermediaries involved.
If your bank account has been debited but your investment has not been successfully executed, please contact our Customer Support team promptly.
Upon receiving the necessary transaction details, Niyyam™ will:
Review the information provided.
Coordinate with the relevant stakeholders.
Track the progress of the investigation.
Keep you informed regarding significant updates.
Provide reasonable assistance until the matter is resolved to the extent reasonably possible.
Niyyam™ acts solely as an AMFI Registered Mutual Fund Distributor.
Niyyam™ shall not be responsible for delays, failures, reversals, or settlement issues arising from:
Banking systems.
UPI networks.
Payment gateways.
BSE Star MF.
Registrar & Transfer Agents (RTAs).
Asset Management Companies (AMCs).
Regulatory restrictions.
Market holidays.
Technical failures beyond the reasonable control of Niyyam™.
Events of force majeure.
Nothing in this policy limits any rights available to investors under applicable law.
Niyyam™ reserves the right to modify or update this Refund & Cancellation Policy at any time to reflect changes in applicable laws, regulatory requirements, operational processes, or business practices. The updated version will be published on this page together with the revised Effective Date.
Niyyam™ is an AMFI Registered Mutual Fund Distributor (ARN-360119). Niyyam™ does not receive, hold, or control investor funds, and therefore does not independently process refunds of mutual fund investment amounts. Where an investor's bank account has been debited but the corresponding investment transaction has not been successfully executed, Niyyam™ will provide reasonable assistance in coordinating with the relevant bank, payment service provider, BSE Star MF, Registrar & Transfer Agent (RTA), and/or the applicable Asset Management Company (AMC) to facilitate investigation and resolution. The actual investigation, settlement, reversal, or credit of funds is carried out by the respective financial institutions and intermediaries in accordance with their operational processes and applicable regulations. As such, resolution timelines are outside the direct operational control of Niyyam™. Mutual Fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
Grievance / Compliance Officer — Ashok Prasad
support@niyyam.comTech Margon Wealth Pvt. Ltd. (Niyyam)
1,2 A1 Block, 4th Floor, Above Chef Bakers, ITPL Main Road, Near Brookefield Hospital, Kundanhalli, Bangalore-560037, Karnataka