These Terms and Conditions govern the usage of the Innonest platform/website. The user/visitor expresses his or her approval of these Terms of Service. The user agrees to follow them. The Terms are a legally binding agreement between you, as a user of the Website, and us, the owner.
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Details about us and the Innonest platform
1. Innonest Technologies Private Limited (“we/us/our”) owns and operates the Website. We are a company registered under the Companies Act, 2013 with the CIN U72300GJ2021PTC126384 and our registered office is at 52/A, TITANIUM, OPP. AUDA GARDEN PRAHLADNAGAR, VEJALPUR, AHMEDABAD GJ 380015.
2. The Innonest platform allows early-stage businesses to present their company ideas and conduct a fundraising campaign on the Website, allowing potential investors to determine whether or not to participate in such ventures. The Website also provides early-stage businesses and potential investors with any other information or services that are required or ancillary to the primary activity mentioned below.
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Website accessibility
1. You agree to these Terms of Use and the Privacy Policy by visiting the Website. Access to some areas of the Website is contingent on our approval of you as a “member,” “issuing firm,” or “issuer” on the Innonest Platform. We retain the right to withdraw or modify the Services supplied to you through the Website at any time and without notice. We shall not be liable if our Website is unavailable to you for any reason at any time. Furthermore, we reserve the right to limit your access to the entire or a portion of the Website.
2. All rights not expressly granted to you are retained by these Terms of Service.
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Sign-up and Membership
1. If you are interested in investigating prospects to invest in issuer firms looking to raise capital through the Innonest Platform, you must register as a ‘member’ on the Innonest platform in order to fully utilise the Website. The conditions of registration, including qualifying requirements and rights after becoming a member, are posted on our Website and may be viewed once you join the Innonest platform. In the event of a discrepancy between the Terms of Use and the particular terms regulating participation in the Innonest Platform, the specific membership requirements shall take precedence.
2. If you want to launch a fundraising campaign using the Innonest Platform, you must first register as a ‘issuing firm’ or ‘issuer’ on the Innonest platform in order to use the full capabilities of the Website. Our Website contains the terms of registration, including qualifying requirements and rights after enrolling as a ‘issuing firm’ or ‘issuer.’ If the Terms of Use and the particular terms controlling your status as a ‘issuer company’ or ‘issuer’ on the Innonest Platform conflict, the specific conditions applicable to ‘Issuer Company’ or ‘issuer’ shall prevail.
- The Website’s Password
1. Upon completion of your registration on the Website and reasonable satisfaction of our understanding of your involvement with us, an OTP will be sent to the email address you choose. That OTP confirmation will allow you to take part in the fundraising campaign in which you have shown an interest.
2. You promise not to share your login and password information with anybody.
3. You promise to keep your password confidential. You are solely liable for any loss or harm caused by your failure to safeguard your password. You undertake to inform us promptly of any unauthorised use of your password or any other breach of security.
4. You agree that we are not liable for any loss or harm caused by your failure to maintain your password safe.
- User Representations and Warranties
1. By engaging into these Terms of Use on your own behalf or on behalf of the entity for which you are acting, you signify that you agree to abide by the Terms of Use and any other agreements you may enter into while browsing the Website. You agree to discontinue using the Website and to notify us of any legal violations that may prevent you from using our Website.
2. You indicate that all of the information you submit is true, correct, and accurate, and you agree to notify us of any changes or amendments to that information on a regular basis.
3. You shall not host, display, upload, modify, publish, transmit, update or share any information that: (i) belongs to another person and to which you do not have any right to; (ii) is grossly harmful, harassing, libellous, invasive of another’s privacy, hateful or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, otherwise unlawful in any manner whatsoever; (iii) harms minors in any way; (iv) infringes any patent trademark, copyright or other proprietary rights; (v) violates any law for the time being in force; (vi) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (vii) impersonates another person; (viii) threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with friendly states, or public order or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting any other nation.
4. You agree and accept that you will not sell your Website access. You agree not to send any unneeded information or undesirable electronic communication, such as spam, to other Innonest platform members. You will not abuse your access to the Website by introducing viruses, trojans, worms, or other material that is likely to cause harm to the Website, and you will indemnify and hold us harmless in the event that any action is brought against us due to any loss, injury, expense, or liability caused to any other user of the Website or any third-party. You must also not acquire unauthorised access to the Website or any other source of access to our Website.
- Our rights with regard to the Website
1. We reserve the right to stop or modify our Services at any time and will not be held accountable for doing so.
2. We reserve the right to remove your account or cancel your access to the Website at any time for any reason. We may also suspend or restrict your access to the Website if deemed necessary. For the aforementioned reasons, we will make all reasonable attempts to notify you and inform you of such an action, as well as the reasons for it.
3. In line with the principles of the Privacy Policy, we will share any confidential information supplied by you or any other facts about yourself as may be required to satisfy any governmental department or authority under applicable law or to any third-party.
4. In light of Clauses 6.1, 6.2, and 6.3, you agree and acknowledge that we will not be responsible for any claim based on any termination, suspension, or any of the aforementioned acts taken by us in respect to your access to the Website.
5. We may encourage you to join in chat rooms or other services that will provide you with information on the Innonest platform, the firms, and their information fundraising efforts. Your remarks or other contributions to such chat rooms are regarded to have been granted to us on a free and permanent basis.
- Rights to Intellectual Property
1. When you use our Website, we grant you a limited permission to view and use the information on it for personal purposes.
2. You are entitled to download the information available on the Website to any instrument for personal use only, provided that no copyright symbol, trademark, or other proprietary features are deleted or changed. You agree not to use our information for any other reason than the ones listed above. You accept that any use of the proprietary information published on the Website will violate our intellectual property rights, for which you will be held liable.
3. Except for third-party items that are expressly indicated as such, we own or have a licence to all of the contents shown on the Website, including images, logos, sound recordings, and software. Any infringement of our intellectual property rights would be handled by Indian law.
4. Without our prior written permission, the licence to access and use the Website does not include the right to replicate or reproduce the information on our Website on any other platform or medium.
5. Unless otherwise indicated, any term, logo, or device with the marks TM or ® attached should be deemed a registered trademark that we own or have a permission to use. The right to use the Website does not grant you the right to utilise such trademarks in any form.
- Websites that are linked
1. Through this Website, you may be able to access and view third-party websites. The links are given for your convenience only and may not always be up to date.
2. We do not promote, evaluate, regulate, or investigate third-party websites, and we are not responsible for any information posted on such third-party websites. You acknowledge that the presence of links on the Website is not meant to be an endorsement or recommendation of any linked website or its content.
3. You acknowledge that your access to any third-party website is controlled by the terms of that website and has no bearing on the Website’s Terms of Use. You accept and understand that it is also your obligation to follow the terms and conditions of that website.
- Disclaimers and Liability Limitations
1. You acknowledge and agree that your use of the Website is at your own risk. The Website is provided to you on a “as is” and “as available” basis, with no warranties, guarantees, or conditions as to the absence of faults, flaws, interruptions, errors, viruses, or the accuracy, reliability, or availability of material. You accept and understand that we will not be held liable for any interference or damage to your computer resource as a result of your access to our Website.
2. You also accept and understand that the content on the Website is provided for informational purposes only and does not constitute advice.
3. We disclaim liability for any loss, damage, expenses, liabilities, claim, or injury caused by a failure of performance, omission, defect, deletion, interruption, error, delay, virus, communication, unauthorised access, theft, destruction, alteration, or use of records, whether due to breach of contract, negligence, tort, or other cause of action.
4. Furthermore, we will not be liable for any loss of profits, goodwill, or revenue, as well as any consequential, exemplary, or punitive damages, or other pecuniary or indirect loss.
5. You also understand and agree that we are not liable for any defamatory, offensive, or unlawful behaviour by other parties on our Website, including users and operators of third-party websites. Furthermore, we will not be held responsible or accountable for any inaccuracy, delay, omission, or error, transmission or delivery of any third-party data, or any loss or damage resulting from any of the above.: (i) any inaccuracy, error, delay or omission of transmission of information; (ii) non-performance by any third-party; or (iii) interruption caused due to any third-party due to their negligent act or omission any other cause, not beyond the reasonable control of us.
- Indemnity
1. You agree to indemnify and hold us harmless from and against any loss, damage, expenses, liabilities, or claims arising out of or in connection with your failure to comply with the Terms of Use or any misstatement or breach of any representations or warranties made by you under the Terms of Use or under any conditions on the Website accepted by you.
- Dispute Resolution and Governing Law
1. Governing Law: The Terms of Service shall be governed and construed in all respects in accordance with Indian law, and, subject to Clause 11.3 below, the courts of Ahmedabad shall have exclusive jurisdiction.
2. Informal Dispute Resolution: The Parties agree to attempt to resolve all disputes arising hereunder in a timely and good faith manner, and in this regard, each Party shall designate in writing to the other Party a representative who shall be authorised to negotiate and resolve any dispute arising under these Terms of Use on its behalf. If the authorised representatives of each of the Parties are unable to settle a disagreement under the Terms of Use within 30 (thirty) days of any Party’s notice of such issue to the other, each Party may request that such dispute be determined and resolved by arbitration.
3. Arbitration: Subject to Clause 11.2, any dispute or claim arising from the Terms of Use shall be referred to and finally and exclusively resolved through arbitration in accordance with the Arbitration and Conciliation Act, 1996, or any statutory modification or re-enactment thereof in force at the time. The arbitration shall be held at Ahmedabad and all proceedings in any such arbitration shall be conducted in English. There shall be sole arbitrator to be appointed by both the parties in accordance with the Arbitration and Conciliation Act, 1996. The arbitral award shall be final and binding upon the parties. The Parties shall equally bear the costs and expenses for the conduct of the arbitration proceedings, however; each Party shall bear their own legal expenses.
- Modifications to the Terms of Service
1. We retain the right to change the Terms of Service at any time. Any changes made will be effective as soon as they are posted on the Website. Any prior versions of the Terms of Use shall be superseded by the current version of the Terms of Use.
2. While we will make reasonable attempts to notify members of any changes, it is your obligation to stay up to current on the Terms of Use at all times.
3. Your continuing use of the Website constitutes your acceptance of the Website’s Terms of Use.
- Power of Attorney (POA)
1. Power of Attorney Act 1882, power of attorney includes any instrument empowering a specified person to act for and in the name of the person executing it.
2. POA is very well known as Power of Attorney or Power of Authority which is the authority to act for another person in specified or all legal or financial matters. A principle or a donor is someone who delegated responsibility to a trustworthy individual. There are several scenarios in one’s life where an individual with assets, bank accounts, etc. may be unable to discharge his tasks owing to factors such as being overseas, physically unwell, elderly, and so on. In such cases, if the transaction needs the presence of an individual who is unable to be there directly, the only option is to delegate the individual’s authority to another person. This is the time to draught a Power of Attorney deed.
- Disclaimer
1. Any securities transaction in which a company may offer or complete with another member of the platform must be offered, issued, allocated, or transferred in strict conformity with all relevant regulations, including but not limited to private placement restrictions under applicable securities laws.
2. Our platform includes an internal system that limits the number of Investors who may read the detailed profile to 200 by default, ensuring compliance with applicable legislation. However, it is the company’s obligation to follow the terms of applicable legislation, such as the Companies Act of 2013, and the private placement guidelines that go with it.
3. Nothing on this website is meant to be an offer to acquire or sell any security, other asset, or service, (ii) investment advice or an offer to provide such advice, or (iii) a foundation for making any investment decision. Unless specifically declared in writing by Innonest’s company, neither this website nor any of the contents attempt to provide a full or impartial overview of Innonest or its investing operations.
- Miscellaneous
1. No collaboration or agency The Terms of Service are not intended to constitute a partnership or joint venture between you and us. Nothing in the Terms of Service shall be interpreted to make you and us agents of one another.
2. Particular Performance Each of us agrees that monetary damages may not be an adequate remedy and that either of us is entitled to an injunction, restraining order, right of recovery, suit for specific performance, or such other equitable relief as a court of competent jurisdiction may deem necessary or appropriate to prevent the other from violating the Terms of Use or to enforce the performance of the covenants, representations, and obligations contained in the Terms of Use. These injunctive remedies are cumulative and in addition to any other rights and remedies the Parties may have at law or in equity, including, but not limited to, a claim to damages.
3. Severability In the event that any duty or obligations are or become unenforceable in whole or in part, each obligation under the Terms of Use shall be considered as a distinct obligation and shall be separately enforceable as such. To the extent that any provision or provisions of the Terms of Use are deemed unenforceable, both of us agree to alter such clauses as may be required to render the provision or provisions lawful and effective. Regardless of the foregoing, any provision that cannot be amended to make it valid and effective shall be deemed deleted from the Terms of Use, and any such deletion shall not affect the enforceability of the remainder of the Terms of Use not so deleted, provided that the fundamental terms of the Terms of Use are not altered.
4. Non-Exclusive Treatments The rights and remedies set out herein are cumulative, and none are exclusive of any other rights or remedies that any of us may have at law or in equity. The rights and remedies of any of us based on, arising from, or otherwise in respect of any inaccuracy or breach of any representation, warranty, covenant, or agreement, or failure to fulfil any condition, shall not be limited in any way by the fact that the act, omission, occurrence, or other state of facts upon which any such inaccuracy or breach is based may also be the subject matter of any other representation, warranty, covenant, or agreement, covenant or agreement as to which there is no inaccuracy or breach.
5. Invalidity in Part If any provision of the Terms of Use or its application to any person or circumstance is held invalid or unenforceable to any extent for any reason, including by reason of any law, regulation, or government policy, the remainder of the Terms of Use and the application of such provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected, and each provision of the Terms of Use shall be valid and enforceable. Any provision of the Terms of Use that is invalid or unenforceable must be replaced with a provision that is valid and enforceable and most closely represents the original purpose of the invalid and unenforceable provision.
6. Third-Party Rights Nothing in the Terms of Use is intended or suggested to confer or provide any person, other than us hereto, any rights or remedies under or by reason of the Terms and Conditions or any transaction anticipated by the Terms of Use.
7. Time of Essence Time shall be of the essence of all the matters arising out of or in connection with the Terms of Use.
8. Execution The Terms of Use shall be deemed duly executed and shall become effective and binding upon you and us when you access the Website.