Terms & Conditions

The following Terms & Conditions govern the financing, leasing, and payment transactions for Kaikan Scooters, Kaikan Bikes, and related services offered by Kaikan EV (AKASA LEASING PRIVATE LIMITED) through its website and authorized payment channels.

1) Credit Evaluation & Approval

All loan or financing applications submitted to Kaikan EV (AKASA LEASING PRIVATE LIMITED) are subject to credit assessment and approval, which shall be entirely at the sole discretion of the Company. The Company reserves the right to approve, reject, or modify any application without assigning any reason.

2) No Cash Payments / No Advance Fees

• The Company does not collect any cash payments or unofficial fees for loan approval or processing.
• No advance payment is required for loan approval.
• Any person demanding cash or unofficial payment in the name of the Company should be immediately reported.
• Any such payment shall be treated as an unauthorized payment or bribe and may result in automatic rejection of the loan application.

3) Loan Terms & Charges

Loan terms including loan amount, interest rate, tenure, processing/file charges, and EMI structure are determined as per the Company’s internal credit policy.

• All applicable terms and charges shall be clearly communicated to the customer.
• These details will be documented in the Loan Agreement prior to execution.
• Loan disbursement, if approved, shall be made after deducting applicable processing or file charges, as disclosed in the agreement.

4) Payment Gateway & Online Payments

• The Company may accept payments through authorized online payment gateways (UPI, cards, net banking, etc.).
• All payments are processed via secure third-party payment gateway providers.
• The Company shall not be responsible for transaction failures, delays, or errors caused by banks, payment gateways, or network issues.

5) EMI Payment & Mandate

• Submit Post-Dated Cheques (PDCs) and/or
• Register an ACH/NACH mandate, and
• Execute the Loan Agreement.

EMIs must be paid strictly through approved digital mandate, PDC, or authorized online payment channels on or before the due date.

6) Cheque / Mandate Bounce & Penalties

In case of any cheque bounce or ACH/NACH mandate failure, the customer shall be liable to pay a penalty of ₹750 per instance, or such amount as prescribed by the Company from time to time.

Repeated payment failures may attract additional penalties, recovery actions, or legal proceedings as per applicable laws.

7) Late Payment Charges

Customers shall be liable to pay late payment fees or penal interest as per Company policy for any EMI or payment made after the due date.

8) Use of Funds & Asset Responsibility

Loan funds must be used solely for the purchase or financing of Kaikan Scooters and/or Kaikan Bikes as approved.

The customer shall be solely responsible for the use, maintenance, insurance, and compliance related to the financed asset.

9) Refunds & Cancellations

Any refunds, if applicable, shall be governed by the Company’s Refund & Cancellation Policy and processed strictly in accordance with payment gateway guidelines. Approved refunds will be issued only through the original mode of payment.

10) Limitation of Liability

• Payment gateway or banking failures
• Government or regulatory delays
• Force majeure events including natural disasters, strikes, technical outages, or cyber incidents

11) Governing Law & Jurisdiction

These Terms & Conditions shall be governed by and construed in accordance with the laws of India. Courts having jurisdiction over Noida, Uttar Pradesh shall have exclusive jurisdiction.

12) Booking Policy

Customers can view and select Kaikan Scooters and Kaikan Bikes through our online portal or by visiting our warehouse. Customers may purchase products directly from the website by adding the selected item to the cart and completing payment. An option to convert the purchase amount into EMIs is also available.

After the purchase is completed, the selected item will be delivered to the customer. We are responsible for ensuring that the product is delivered in the same condition and specifications as selected at the time of purchase.