Effective Date: [Insert Effective Date]
This Know Your Customer ("KYC") Verification Policy governs the identity verification requirements applicable to customers, Independent Business Owners (IBOs), distributors, affiliates, and users of GREYSTAR BIOTECH PRIVATE LIMITED ("Company", "Greystar Biotech", "we", "our", or "us").
The purpose of this Policy is to ensure legal compliance, fraud prevention, identity verification, financial transparency, customer protection, and adherence to applicable laws including Direct Selling Rules, 2021, Information Technology Act, 2000, Digital Personal Data Protection Act, 2023, Income Tax Laws, and other applicable regulations.
Company Name: GREYSTAR BIOTECH PRIVATE LIMITED
CIN: U47190BR2024PTC068150
Registered Office: DS1D, Ward No. 12, Village Post Begampur, Samastipur, Bihar – 848101, India
Email: support@greystarworld.in
KYC verification may be conducted for the following purposes:
Every Independent Business Owner (IBO) seeking commission, bonus, incentive, reward, wallet transfer, withdrawal, rank benefits, or participation in the compensation plan must complete KYC verification.
The Company may restrict certain services until KYC verification has been successfully completed.
The Company may request one or more of the following documents:
Users shall provide true, complete, accurate, and up-to-date information during registration and KYC submission.
Submission of false, forged, manipulated, expired, misleading, or unauthorized documents is strictly prohibited.
The Company may verify submitted documents manually, electronically, through third-party verification services, or through government-approved verification mechanisms.
The Company reserves the right to request additional documents, clarification, or re-verification at any time.
The name registered on the user account should substantially match the name appearing on the submitted KYC documents and bank account.
Where discrepancies exist, additional proof may be requested before approval.
Commission payments, bonuses, rewards, and withdrawals shall generally be processed only to bank accounts verified and approved by the Company.
The bank account should ordinarily belong to the registered user or IBO.
The Company reserves the sole right to approve, reject, suspend, hold, review, or revoke any KYC application.
KYC may be rejected for reasons including:
Creating duplicate, fake, benami, or unauthorized accounts is strictly prohibited.
The Company may merge, suspend, terminate, or permanently disable such accounts without notice.
The Company may require users to undergo re-verification periodically or whenever:
The Company may withhold commissions, bonuses, rewards, incentives, wallet transactions, rank benefits, or withdrawal requests until KYC verification is completed successfully.
KYC information shall be collected, processed, stored, and protected in accordance with the Company's Privacy Policy and applicable laws.
The Company shall implement reasonable security measures to protect submitted documents from unauthorized access, misuse, disclosure, alteration, or loss.
KYC information may be disclosed:
The Company reserves the right to investigate suspicious activities including:
Appropriate legal action may be initiated where necessary.
The Company may suspend, restrict, block, or permanently terminate any account if:
The Company shall not be liable for losses resulting from delayed KYC approvals, rejected documents, incorrect submissions, regulatory actions, or account restrictions arising from non-compliance with this Policy.
GREYSTAR BIOTECH PRIVATE LIMITED reserves the right to amend, modify, replace, update, or withdraw this Policy at any time without prior notice.
The latest version published on the Company's website shall prevail.
This Policy shall be governed by the laws of India.
Any dispute arising under this Policy shall be subject to the exclusive jurisdiction of the competent courts located in Samastipur, Bihar.
GREYSTAR BIOTECH PRIVATE LIMITED
CIN: U47190BR2024PTC068150
DS1D, Ward No. 12, Village Post Begampur,
Samastipur, Bihar – 848101, India
Email: support@greystarworld.in
