4_Things_You_Need_to_Know_About_a_Joint_Mutual_Fund
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Imagine a world where investing isn't just an individual pursuit. Where it is a shared journey of possibilities. We have encountered numerous cases where spouses decide to jointly register the property in their names. In such situations, the main aim, along with several others, is to ensure that holders can easily access and transfer financial assets when they need to, without any complications.

But have you heard of a joint mutual fund? Yes, you can invest in a mutual fund jointly too. Just like a joint savings account or a joint FD, investing in a mutual fund jointly comes with its benefits. From bank accounts to home loans, many people nowadays prefer joint ownership because they believe it is a convenient way to manage investments and payments.

This blog will help you learn about a few essential factors about how joint ownership of investments works. This way you get to make your decisions with confidence and manage your risks like a pro!

What is a joint mutual fund account?

Joint mutual fund ownership refers to a shared investment account that can have two or a maximum of three account holders. In such cases, all holders possess equal rights and power to operate the account. This means that the consent and signatures of all holders are required for transactions like purchasing or redeeming mutual fund units.

With joint mutual fund ownership, either of the investors can manage the funds. However, managing joint mutual funds is more complex compared to a joint bank account. Many mutual fund companies allow multiple investors to become joint holders, pooling their funds for investment. Although joint holding may seem convenient for investing a larger amount, it’s way different from a joint bank account. It's important to note that joint mutual fund accounts usually require open communication and trust between the account holders.

Essential factors to be consider:

Here are a few essential things to consider if you want to be a joint holder in mutual funds:

1. Mode of ownership

A simple "joint holding mutual fund account" provides equal rights to its holders. Approval of all the holders are required for every transaction related to the mutual fund. Another joint holding mode is "Either or survivor" under which either of the holders can carry out the transactions single-handedly.

A joint holding is relevant in cases where the holders want to ensure that every action on their mutual fund is carried out with the consent of all the holders. The “Either or survivor” mode is suitable in cases where the first holder wants smooth ownership transfer to their partner, in case of their death.

While you can hold the mutual funds jointly with two people, you must be careful about defining the mode of ownership and how you want to operate the funds in the application form itself. You can operate the funds jointly or individually by either account holder.

In case only one of you wants to make investment decisions, you must mention this in the application. If you don't mention it, the fund house will consider the investment as joint ownership as default, which means all the individuals must sign every time they wish to purchase, sell or redeem the mutual fund units.

Maximum, three individuals can jointly hold a mutual fund together. However, all the applicants must complete their KYC by providing the relevant documents when investing.

Also read: eKYC: Meaning, Documentation, Process, and Eligibility Explained

2. Operating the account

While the mutual fund can be held jointly, operating it and redeeming it can either be done jointly or by either of the investors. In case, only one of the investors wishes to make decisions, it has to be mentioned in the application. If nothing is mentioned, it is taken as joint ownership as default, which means both or all the individuals need to sign every time they wish to purchase or redeem mutual fund units.

3. Tax benefit beneficiary

One major advantage of joint mutual fund ownership is the potential tax benefits. When your investments start churning out some income, like dividends or capital gains, those goodies are distributed among you and your fellow joint holders. Instead of one person shouldering the full weight of the taxes, you get to divide it up and potentially pay less collectively.

The primary goal is still to grow your wealth and achieve your financial aspirations. Joint account tax implications in India can offer potential tax benefits by allowing you to divide the income among multiple individuals. Keep those lines of communication open with your fellow joint holders.

The tax implications apply only to the first holder of the mutual fund in "either or survivor" mode. MF schemes such as ELSS (Equity Linked Saving Schemes) are counted for tax exemption under section 80C that the first holder can avail. Similarly, any applicable tax liabilities are to be borne by the first holder only. There are no tax benefits to the holders in case of a simple joint holding without "either or survivor' mode.

4. Up to three joint holders

Guess what? You can bring a squad of up to three people on board your joint mutual fund account! That means you have the power to involve more folks in your investment adventure. It's like a team effort where decisions are made together. It could be a spouse, sibling, or close friend with whom you share financial goals. And so, it’s important to choose people in your life that you trust and can have open and effective communication with.

At max, three individuals can jointly hold a mutual fund together. However, all the applicants must complete their KYC by providing the relevant documents at the time of investing.

5. The succession of assets

One of the advantages of holding a joint mutual fund account is it enables smooth succession of the fund to the joint holder in case something happens to one of the holders. You can also give the nominee’s name and the nominee only gets the money in case all the holders of the mutual fund die. While a regular mutual fund also enables the investor to pass on the assets to the nominee, the succession in the case of a joint mutual fund is much quicker and requires lesser KYC documentation than it's already done for all the holders.

The nominees of the joint account come into effect only after the death of all the joint account holders. Additionally, in joint mutual funds holding, minors are not allowed to be nominees.

6. KYC (know your customer) compliance

One of the advantages of holding a joint mutual fund account is it enables smooth succession of the fund to the joint holder in case something happens to one of the holders. You can also give the nominee’s name and the nominee only gets the money in case all the holders of the mutual fund die. While a regular mutual fund also enables the investor to pass on the assets to the nominee, the succession in the case of a joint mutual fund is much quicker and requires lesser KYC documentation than it's already done for all the holders.

This is a standard procedure that helps protect both you as investors and the financial institution handling your investments. KYC is in place to protect investors and financial institutions both. It makes sure that the investment process is secure as well as transparent.

Remember, KYC compliance is an important aspect of joint mutual fund ownership.

7. Nomination

Here's the deal: in the unfortunate event that all joint holders of a mutual fund account pass away, having a nominated beneficiary can make a significant difference.

Think of a nominee as someone you trust to receive the investment proceeds and take over the ownership of the mutual fund account if something were to happen to all the joint holders. This could be a family member, a close friend, or anyone you deem appropriate to handle your financial affairs.

Nominating a beneficiary serves two important purposes. First, it ensures a smoother transition of the investments. Without a nominee in place, the process of transferring the investments to the rightful heirs could become time-consuming and complicated. By nominating a beneficiary, you're simplifying things for your loved ones during a difficult time.

Second, nominating a beneficiary helps minimize legal complexities. Having a clear nominee avoids potential disputes among family members or heirs regarding the ownership and distribution of the mutual fund assets. It provides a legally recognized framework for the transfer of investments. This way, you will be reducing the chances of unnecessary complications.

The process of nominating a beneficiary is usually straightforward. Most mutual fund companies provide a nomination form that you can fill out with the details of your chosen nominee. It typically requires providing the nominee's name, relationship to you, and their contact information.

Now, here's an important consideration: keep your nomination up to date. Life circumstances change, and it's essential to review and update your nominee details whenever necessary. In case of any significant life events like marriage, divorce, or the birth of a child, make sure to revisit your nomination and ensure it reflects your current wishes.

Benefits of joint mutual fund ownership

Joint mutual fund ownership comes with a load of benefits. Let's explore them together:

Diversification:

Joint ownership allows you to create a diversified portfolio. Diversification is when you simultaneously invest in different types of assets. These could include stocks, bonds, debentures, derivatives, etc. Diversification helps to potentially minimize risk by reducing the impact of any single investment performing poorly.

Shared Financial Goals:

Joint mutual fund ownership fosters a sense of shared financial goals. It encourages you and your partner to align your visions for the future through open discussions about your investment objectives. Having a partner by your side can provide motivation and accountability as you work towards common financial milestones.

Communication and Collaboration:

When you invest jointly, it promotes regular communication and collaboration with your investment partner. You can chat about investment tactics, exchange perspectives, and jointly make well-informed choices. This collective approach will let you and the other joint holders exchange knowledge and experience.

Trust and Accountability:

Joint ownership strengthens trust and accountability between the individuals involved. Joint investment requires you to have an open line of communication about finances. When you make investment decisions with your partner, it creates a sense of unity and shared responsibility. This helps build trust.

Wealth Transfer and Succession Planning:

In the unfortunate event of the demise of one joint holder, the assets can be smoothly transferred to the surviving holders. This prevents hold-ups and complexities, ensuring investment growth. Shared mutual fund accounts can be useful for long-term financial planning and inheritance. Though they come with perks, practical aspects should be weighed. Select partners thoughtfully, prioritizing trust and communication.

Also read: What is Diversified investment and How it works?

Conclusion

It is better to be a part of joint investment in mutual funds only if you are looking for a feasible solution to secure investments exclusively for immediate family members such as your spouse or children. To ensure the smooth operation of the funds, make sure that you define the ownership type correctly in the application form.

Remember, communication is the key. Regularly discussing your joint mutual fund account and keeping each other informed about any changes or decisions will help you stay on track and make informed choices together. Together, you can navigate the investment world and work towards your financial goals side by side.

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FAQS – FREQUENTLY ASKED QUESTIONS


  • Can I use a joint account for mutual funds ?

    Yes, you can. Here are few points to consider,

    1. Determine the investment purpose and goals.
    2. Identify contributors (couples, family, or partners).
    3. Open a joint mutual fund account with all participants listed as joint owners.
    4. Each person contributes their desired amount.
    5. Professional managers handle fund management and investment decisions.
    6. Returns, expenses, and risks are divided proportionally based on contributions.
  • How are joint-holder mutual funds taxed ?

    Tax implications of a joint mutual fund account in India are as follows:

    a) Income generated, such as dividends, is taxed based on the tax rate of each individual account holder. They report their respective share of income on their tax returns.
    b) Capital gains from selling mutual funds are treated as individual capital gains. Both holders report their share of capital gains on their tax returns.
    c) Different tax brackets for joint account holders can result in varying tax amounts. Each holder reports their own portion of income and capital gains, paying taxes based on their individual tax situations.
    d) Consulting a tax professional before making investment decisions is recommended.
  • How many bank accounts can be linked to mutual funds ?

    There is no specific limit as to how many accounts can be linked to one mutual fund. One can easily link multiple bank accounts to a single mutual fund. An extra account will help you organize, manage and keep track of your investment and withdrawals more effectively.
  • How do I convert mutual funds to joint accounts ?

    Use the following steps to convert your mutual funds to join accounts:

    a) Contact your mutual fund provider or visit their website for the conversion process to joint accounts.
    b) Fill out provided forms with joint account holder information.
    c) Include supporting documentation for identity verification.
    d) Submit the completed forms to the mutual fund company. Processing may take 3 to 5 business days.
  • What are the rules for joint account ?

    A few things to keep in mind regarding joint mutual fund accounts are as follows:

    a. Joint accounts require the consent and agreement of all the account holders involved in the joint account.
    b. All holders have equal ownership and rights over the funds.
    c. Joint account holders may have specific tax implications. The income generated from mutual funds in a joint account may be reported and taxed based on the individual tax situations of each joint account holder.
    d. Mutual fund rules may vary from company to company.

 

DISCLAIMER

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.

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In case any facilities/services, access/dissemination of information or execution of transaction is done through use of any APP related to ABC Companies, the additional terms and conditions governing the Use of APP shall be applicable and to be read along these Terms of Use.

Postings and monitoring

The Facilities Provider or ABCL or ABC Companies does not routinely monitor your postings to the Website but reserves the right to do so if deemed necessary if it is related to the facilities offered on the web site and to comply with law. However, in our efforts to promote good citizenship within the internet community, if the Facilities Provider or ABCL or ABC Companies becomes aware of inappropriate use of the Website or any of its facilities, any information, opinions, advice or offers posted by any person or entity logged in to the Website or any of its associated sites is to be construed as public conversation only, and the Facilities Provider or ABC Companies shall not be liable or responsible for such public conversation. You agree that in such cases, we will respond in any way that, in our sole discretion, as deemed appropriate. You acknowledge that Facilities Provider or ABC Companies will have the right to report to law enforcement authorities any actions that may be considered illegal, as well as any information it receives of such illegal conduct. When requested, ABC Companies/Facilities Provider will co-operate fully with law enforcement agencies in any investigation of alleged illegal activity on the internet.

Submissions and unauthorized use of any Materials contained on this Website may violate copyright laws, trademark laws, the laws of privacy and publicity, certain communications statutes and regulations and other applicable laws and regulations. You alone are responsible for your actions or the actions of any person using your user name and/or password. As such, you shall indemnify and hold Facilities Provider, ABCL / ABC Companies and its officers, directors, employees, affiliates, agents, licensors, and business partners harmless from and against any and all loss, costs, damages, liabilities, and expenses (including attorneys' fees) incurred in relation to, arising from, or for the purpose of avoiding, any claim or demand from a third party that your use of the Website or the use of the Website by any person using your user name and/or password (including without limitation your participation in the posting areas or your submissions) violates any applicable law or regulation, or the rights of any third party.

We reserve the right to terminate access to this Website at any time and without notice. Further this limited license terminates automatically, without notice to you, if you breach any of these Terms of Use. Upon termination, you must immediately destroy any downloaded and printed Materials.

If you come across any breaches/violation or offensive material you must report to us at abc.secretarial@adityabirla.com

Use of Cookies

You agree and understand that the Website will automatically receive and collect certain anonymous information in standard usage logs through the Web server, including computer/computer resource-identification information obtained from "cookies" sent to your browser from a web server or other means as explained in the Privacy Policy.  

Facilities Changes and Discontinuation

The Website reserves the right to discontinue or suspend, temporarily or permanently, the facilities. You agree that the Facilities Provider/ ABC Companies will not be liable to you in any manner whatsoever for any modification or discontinuance of the facilities. The format and content of this Website may change at any time. We may suspend the operation of this Website for support or maintenance work, in order to update the content or for any other reason.

ABCL, ABC Companies, and its directors, employees, associates, or other representatives shall not be liable for any damages or injury, arising out of or in connection with the use, or non-use including non-availability of the Website and also for any consequential loss or any damages caused because of non-performance of the system due to a computer virus, system failure, corruption of data, delay in operation or transmission, communication line failure, or any other reason whatsoever. The Website will not be responsible for any liability arising out of delay in providing any information on the Website.

Compliance with the Law

You agree that you will not:

  • Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, programme, algorithm or methodology to access, acquire, copy or monitor the Website, or any portion of the Website.
  • Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation, browsers, spiders, robots, avatars or intelligent agents) to navigate or search the Website, other than the search engines generally available by third party web browsers
  • Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interferes with the proper working of the Website or the facilities.
  • Attempt to decipher, decompile, disassemble, or reverse engineer any of the software, comprising or in any way making up a part of the Website or the facilities.
  • You agree not to use the facilities for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another's privacy, abusive, threatening, or obscene, or that infringes the rights of others.

Restrictions on Commercial Use or Resale

Your right to use the facilities is personal to you; therefore, you agree not to resell or make any commercial use of the facilities. In addition, the Website welcomes your feedback as a user of the facilities. Any feedback you provide will become the confidential and proprietary information of the Website, and you agree that the Website may use in any manner and without limitation, all comments, suggestions, complaints, and other feedback you provide relating to the Website. The Website shall have a worldwide, royalty-free, non-exclusive, perpetual, and irrevocable right to use feedback for any purpose, including but not limited to incorporation of such feedback into the Website or other Website software or facilities.

No Endorsements

All product and facilities marks contained on or associated with the facilities that are not the Website marks are the trademarks of their respective owners. The Website would require you to respect the same. References to any such names, marks, products or facilities of third parties or hypertext links to third party sites or information does not imply the Website’s endorsement, sponsorship or recommendation of the third party, information, product or facilities.

Promotional Offers

You may receive from time to time, announcement about offers with intent to promote this Website and/or facilities/products of ABC Companies (“Promotional Offers”). The Promotional Offer(s) would always be governed by these Terms of Use plus certain additional terms and conditions, if any prescribed. The said additional terms and conditions, if prescribed, would be specific to the corresponding Promotional Offer only and shall prevail over these Terms of Use, to the extent they may be in conflict with these Terms of Use. The Website reserves the right to withdraw, discontinue, modify, extend and suspend the Promotional Offer(s) and the terms governing it, at its sole discretion.

Charges for use of Website

There are no charges or fees to be paid by you for use of this Website. However, you are responsible for all telephone access fees and/or internet service fees that may be assessed by your telephone and/or internet service provider. You further agree to pay additional charges, if any levied by Third Party Service Provider(s), for the facilities provided by them through the Website (Additional Charges).

No Endorsement

You are advised to be cautious when browsing on the internet and to use good judgment and discretion when obtaining information or transmitting information. From this Website, users may visit or be directed to third party web sites. The Website makes no effort to review the content of these web sites, nor is the Website or its licensors responsible for the validity, legality, copyright compliance, or decency of the content contained in these sites.

In addition, the Website does not endorse or control the content of any other user and is not responsible or liable for any content, even though it could be unlawful, harassing, libelous, privacy invading, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable, or that it infringes or may infringe upon the intellectual property or other rights of another. You acknowledge that the Website does not pre-screen content, but that the Website will have the right (but not the obligation) in their sole discretion to refuse, edit, move or remove any content that is available via the facilities.

Electronic Communications

These Terms of Use and any notices or other communications regarding the Facilities may be provided to you electronically, and you agree to receive communications from the Website in electronic form. Electronic communications may be posted on the Website and/or delivered to your registered email address, mobile phones etc either by Facilities Provider or ABC Companies with whom the services are availed. All communications in electronic format will be considered to be in "writing". Your consent to receive communications electronically is valid until you revoke your consent by notifying of your decision to do so. If you revoke your consent to receive communications electronically, the Facilities Provider shall have the right to terminate the facilities.

Assignment

You shall not assign your rights and obligations under this Agreement to any other party. The Website may assign or delegate its rights and/or obligations under this Agreement to any other party in future, directly or indirectly, or to an affiliated or group company.

Legal Disclaimers

The information provided on or through the Website is for general guidance and information purposes only and they do not in any manner indicate any assurance or opinion of any manner whatsoever. Any information may be prone to shortcomings, defects or inaccuracies due to technical reasons. Certain information on Website may be on the basis of our own appraisal of the applicable facts, law and regulations in force at the date hereof.

The information (and opinions, if any) contained on the Website may have been obtained from public sources believed to be reliable and numerous factors may affect the information provided, which may or may not have been taken into account. The information provided may therefore vary (significantly) from information obtained from other sources or other market participants. Any reference to past performance in the information should not be taken as an indication of future performance. The information is dependent on various assumptions, individual preferences and other factors and thus, results or analyses cannot be construed to be entirely accurate and may not be suitable for all categories of users. Hence, they should not be solely relied on when making investment decisions. Your investment or financial decision shall always be at your own discretion and based on your independent research; and nothing contained on the Website or in any information would construe ABCL/ABC Companies or any of its employees/authorized representative as having been in any way involved in your decision making process. Any information and commentaries provided on the Website are not meant to be an endorsement or offering of any stock or investment advice.

Nothing contained herein is to be construed as a recommendation to use any product, process, equipment or formulation, in conflict with any patent, or otherwise and Facilities Provider / ABCL/ABC Companies makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. Information on this Website sourced from experts or third party service providers, which may also include reference to any ABCL Affiliate. However, any such information shall not be construed to represent that they belong or represent or are endorsed by the views of the Facilities Provider or ABC Companies. Any information provided or sourced from ABCL Affiliate belongs to them. ABCL is an independent entity and such information from any ABCL Affiliate are not in any manner intended or to be construed as being endorsed by ABCL or Facilities Provider. The information does not constitute investment or financial advice or advice to buy or sell, or to endorse or solicitation to buy or sell any securities or other financial instrument for any reason whatsoever. Nothing on the Website or information is intended to constitute legal, tax or investment advice, or an opinion regarding the appropriateness of any investment or a solicitation of any type. Investment in the securities market and any financial instruments are inherently risky and you shall always assume complete and full responsibility for the outcomes of all the financial or investment decisions that you make, including but not limited to loss of capital. You are therefore advised to obtain your own applicable legal, accounting, tax or other professional advice or facilities before taking or considering an investment or financial decision.

No Solicitation

No Information at this Website shall constitute an invitation to invest in ABCL or any ABC Companies. These are meant for general information only or to meet statutory requirements or disclosures. ABCL or any of its employees are in no way liable for the use of the information by you, when making any decision or investing or trading through any investment vehicles or ABC Companies, or any other third party which may be engaged in offering of these services.

The information contained on this Website does not represent and should not be used to construe (i) the terms on which a new transaction would be entered into by ABCL or ABC Companies, (ii) the terms on which any existing transactions could be unwound by ABCL or ABC Companies, (iii) the calculation or estimate of an  amount that would be payable following an early termination of any past/existing transactions or (iv) the valuations given to any transactions by ABCL or ABC Companies in their books of account for financial reporting, credit or risk management purposes.

Statutory Disclosure

ABCL and ABC Companies are engaged in a broad spectrum of activities in the financial services sectors. You understand and acknowledge that Aditya Birla Money Limited (‘ABML’), Aditya Birla Finance Limited (‘ABFL’) and Aditya Birla Sun Life Asset Management Company Limited and trustees and sponsor of Aditya Birla Sun Life Mutual Fund (‘ABSLMF’) are group companies and ABML / ABFL also acts as a distributor of ABSLMF.  Any recommendation or reference of schemes of ABSLMF if any made or referred on the Website, the same is based on the standard evaluation and selection process, which would apply uniformly for all mutual fund schemes. You are free to choose the execution facilities in the manner deemed fit and proper and no commission will be paid by ABSLMF to ABML / ABFL if you choose to execute a transaction with ABSLMF on the Website, unless otherwise agreed by you and ABML/ABFL separately. Information about ABML/ABFL, its businesses and the details of commission structure receivable from asset management companies to ABML/ABFL, are also available on their respective Website.

Similarly Aditya Birla Money Insurance Advisory Services Limited and Aditya Birla Insurance Brokers Limited are insurance intermediaries and engaged in the distribution of Insurance Products and it may services may include products of Aditya Birla Sun Life Insurance Company Limited and Aditya Birla Health Insurance Company Limited. However there is no conflict on these services and commissions if any payable are in accordance of the extant regulations.

Force Majeure

The Facilities Provider, ABC Companies and any of its Third Party Service Providers shall not be liable for any delay or failure in performance resulting directly or indirectly from acts of nature, forces, or causes beyond their reasonable control, including, without limitation, Internet failures, computer equipment failures, telecommunication equipment failures, other equipment failures, electrical power failures, strikes, virus, other malicious computer code, hacking, labour disputes, riots, insurrections, civil disturbances, shortages of labour or materials, fires, flood, storms, explosions, acts of God, war, earthquake, governmental actions, orders of domestic or foreign courts or tribunals, non-performance of third parties, or loss of or fluctuations in heat, light, or air conditioning.

Indemnification

You agree to protect and fully compensate Facilities Provider, ABCL, ABC Companies, subsidiaries, licensors, suppliers and facilities providers, employees, officers and directors, from any and all third party claims, liability, damages, expenses and costs (including but not limited to reasonable attorneys fees) caused by or arising from your use of the facilities, your violation of the Terms of Use or your infringement, or infringement by any other user of your account, of any intellectual property or other right of anyone.

No Waiver

The Facilities Provider, ABC Companies or any of its third party service providers and processor bank/merchants etc. shall not be deemed to have waived any of its/their rights or remedies hereunder, unless such waiver is in writing. No delay or omission on the part of Facilities Providers and ABC Companies, in exercising any rights or remedies shall operate as a waiver of such rights or remedies or any other rights or remedies. A waiver on any one occasion shall not be construed as a bar or waiver of any rights or remedies on future occasions.

Exclusive Agreement

You agree that these Terms of Use are the complete and exclusive statement of agreement supersede any proposal or prior agreement, oral or written, and any other communications between you and the Facilities Provider and its Third Party Service Providers or processor bank/merchants relating to the subject matter of these Terms of Use. These Terms of Use, as the same may be amended from time to time, will prevail over any subsequent oral communications between you and the Website and/or the processor bank.

Termination

Either party can terminate this Agreement by notifying the other party in writing. Upon such termination You will not be able to use the facilities of this Website.

Governing Law and Jurisdiction

The Website specifically prohibits you from usage of any of its facilities in any countries or jurisdictions that do not corroborate to all stipulations of these Terms of Use. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Mumbai having exclusive jurisdiction.

These Terms and Conditions are governed by and to be interpreted in accordance with laws of India, without regard to the choice or conflicts of law provisions of any jurisdiction. You agree, in the event of any dispute arising in relation to these Terms and Conditions or any dispute arising in relation to the Website whether in contract or tort or otherwise, to submit to the jurisdiction of the courts located at Mumbai, India for the resolution of all such disputes.

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