Refund Policy

01 Overview

This Refund Policy is part of the VahanBid Terms & Conditions and Registration Terms. By registering, adding wallet funds, or placing a bid, you agree to this Policy.

VahanBid is a professional salvage / insurance-auction marketplace. Money on the platform is of two kinds: a one-time registration fee (access to the platform) and wallet tokens (bidding power purchased by you via UPI / approved deposit). They are treated differently.

02 Registration fee is non-refundable

The one-time registration / membership fee of ₹2,999/- (or the fee published at the time you pay) is strictly non-refundable in all cases, including:

• You change your mind after payment or never place a bid;
• Your account is later suspended, rejected, or banned for breach of terms;
• KYC is incomplete, delayed, or declined;
• You request account deletion;
• You claim the fee was paid “by mistake” after the payment is verified and membership is opened.

03 Wallet token refunds

Token money is the amount you added for bidding (manual UPI / verified deposit). A logged-in member may request a refund of unused tokens from a completed deposit through Request Refund.

• Refunds are processed in Indian Rupees to the UPI ID you submit with the request.
• Only unused tokens are eligible. Tokens locked in an active bid are not refundable until that bid is released.
• Partial refunds are allowed, subject to remaining tokens on that deposit and your available wallet balance.
• Each completed deposit may have only one open refund request at a time.
• We may apply a minimum refund amount and a request window (typically 90 days from the completed deposit, unless we publish a different window).

04 24-hour processing

Valid token refund requests are reviewed and taken up within 24 hours of submission (excluding national holidays and periods of declared system maintenance).

“Proceeded within 24 hours” means our finance team will start verification, approve, reject, or ask for more information inside that window. It does not always mean the money has already landed in your bank.

• After approval, UPI / bank credit typically follows in 1–3 working days, depending on your PSP.
• Requests submitted with incomplete UPI details, missing reason, or mismatched amounts may be paused until you respond.
• High-value refunds may need extra verification and can take longer than 24 hours; we will notify you.

05 We may ask for payment proofs

To protect members and the platform, VahanBid may ask you to share payment proofs before we credit a deposit or pay out a refund. Proofs may include, without limitation:

• UPI / bank screenshot showing payee, amount, date, and UTR / UPI reference;
• Bank statement extract or SMS confirmation;
• A live confirmation from the same UPI ID / mobile used on your VahanBid account;
• Re-KYC or a short video / additional ID if the case looks unusual or high value.

If you do not provide requested proofs within a reasonable time (usually 48 hours of our message), we may reject the refund or keep a deposit in pending / rejected status. We will not ask you to share card numbers, CVV, UPI PIN, or OTP — never send those to anyone claiming to be VahanBid.

06 Payments you start that stay pending

If you initiate a UPI, IMPS, NEFT, or similar transfer to VahanBid and the payment remains pending, processing, or failed on your bank / UPI app, you are responsible for following it up with your bank or PSP. VahanBid cannot force a third-party app to clear a pending debit.

• We will make a reasonable, good-faith effort to help: check our ledger, match UTR, and guide you on what to send.
• A pending debit on your phone is not proof that VahanBid has received the money.
• Tokens are credited only after our team verifies that funds have actually been received in the published VahanBid account.
• If the amount later credits in our account, we will inform you and either credit tokens or, where a refund is due, process it under this Policy.
• If your bank reverses a pending payment, no tokens are due and no refund is created.

07 Eligibility & calculation

• You must be a logged-in member whose account is not banned or rejected.
• The linked deposit must be completed (admin-verified).
• Refundable tokens = unused wallet balance, capped by remaining tokens on that deposit (after earlier refunds).
• INR is calculated from that deposit’s own rate (amount paid ÷ tokens credited), not a later promotional rate.
• Payout is made only to the UPI ID and payee name you enter. We may refuse a UPI that is not reasonably linked to your registered mobile / KYC name.
• We may refuse a request that appears to be abuse (repeated same-day requests, cycling funds, or coordinating with another account).

08 Bid backout — no refund, account banned

A bid on VahanBid is a binding offer. If you place a bid and then back out — including refusing to honour a winning bid, failing to pay the vehicle / DD / collection timeline, asking us to “cancel the win”, or abandoning the deal after bidding — then:

• No refund will be issued for tokens, deposits, or related charges connected with that bid or win;
• Your account will be banned (and may be reported internally as a defaulting buyer);
• Any remaining unused wallet balance may be withheld to cover losses, dealer penalties, or administrative cost arising from the default;
• We may refuse future registration from the same PAN, Aadhaar, mobile, device, or payment identity.

09 How payout is made

• Approved refunds are paid by UPI (or another method we notify) using the details on your request.
• You will receive an in-app / SMS / WhatsApp update when the request is approved, rejected, or marked paid, with UTR where applicable.
• We do not pay cash, crypto, or third-party wallets that are not UPI-addressable.
• If a payout fails because of a wrong UPI ID, we will ask you to correct it. Failed credits are not our delay.
• Keep the payout UTR for your records. Raise a query within 7 days of the “paid” notice if you cannot see the credit.

10 When we may refuse, pause, or reduce a refund

• Tokens already spent or locked in bids;
• Deposit not verified, rejected, or already fully refunded;
• Requested proofs not supplied;
• Mismatch between UTR, amount, and our bank statement;
• Open dispute, chargeback, or suspected fraud on the original payment;
• Account under investigation, banned, or using another member’s KYC / UPI;
• Minimum amount / window / pending-request limits published in the refund form not met.

A refusal is notified with a short reason. You may write to support if you believe it is an error.

11 Fake proofs, fake payments & legal action

Submitting edited screenshots, recycled UTRs, another person’s payment, a “success” screen for a failed transfer, or any attempt to obtain tokens or a refund without a genuine credit to VahanBid is fraud.

• The account will be suspended or permanently banned without refund of the registration fee;
• Tokens obtained by deception will be reversed;
• VahanBid may file a complaint with the police / cyber-crime cell and pursue civil recovery, costs, and damages;
• We may share necessary KYC, IP, device, and payment records with banks, UPI apps, and law-enforcement agencies as required by law.

12 Vehicles, “as is”, and other non-refundables

• Vehicles are sold as is, where is. There is no refund because of condition, documents, yard delay, or a change of mind after you win.
• Service fee, documentation, loading, and transport charges billed on a win are not refundable once the sale process has started, except where VahanBid itself cannot complete the sale for a reason solely on our or the insurer’s side — in which case unused tokens related to that deal may be restored as we notify in writing.
• Outbid amounts that were locked for a live bid are returned to the wallet automatically; that is a wallet credit, not a cash refund.

13 How to request a token refund

1. Log in and open Request Refund.
2. Select the completed deposit, unused token amount, reason, and your UPI ID / name / mobile.
3. Keep WhatsApp and SMS reachable for proof requests.
4. Track status on the same page (pending → under review → approved → payout → paid).

You may cancel a request only while it is still pending and tokens have not been deducted for payout.

14 Changes, governing law & contact

We may update this Policy. The “Last updated” date at the top applies from publication on this page. Continued use of VahanBid after an update means you accept the revised Policy.

This Policy is governed by the laws of India. Subject to mandatory consumer protections, courts at Chandigarh / Delhi shall have jurisdiction, without limiting any statutory forum available to you.

VahanBid · GSTIN 07KSBPK3290M1Z8
Email: contact@vahanbid.com
Phone: +91 88375 58484 · +91 88268 08343
WhatsApp: Chat with support