Refund, Cancellation and Early Termination Policy
Version: 1.0
Last updated: 31-Mar-2026
This Refund, Cancellation and Early Termination Policy (“Policy”) is issued by Putticali Mobility Innovations Private Limited, operating under the brand name “AMP” (“AMP”, “Company”, “we”, “our”, or “us”) and forms an integral and binding part of the Lease Agreement executed with the customer (“Customer”). By proceeding with any booking, payment, or lease transaction, the Customer expressly acknowledges and agrees to be bound by this Policy in its entirety.
1. Limitation of Liability
Notwithstanding anything contained in this Policy or in any other document, the total refund payable by AMP, if any, shall under no circumstances exceed the total amount actually received by AMP from the Customer. AMP shall not be liable for any indirect, incidental, or consequential loss, nor for any claim for damages, interest, or compensation arising out of or in connection with any refund, delay, or non-performance.
2. Booking Cancellation
A booking may be cancelled within forty-eight (48) hours from the time of payment, provided that no vehicle has been allocated and no cost, liability, or commitment has been incurred by AMP in relation to such booking. In such limited circumstances, AMP may process a refund of the booking amount.
In all other cases, including where such forty-eight (48) hour period has elapsed or where any allocation, sourcing, or cost commitment has been undertaken, any refund shall be subject to deduction of all costs, charges, and expenses incurred, accrued, or committed by AMP. Where the vehicle has been registered or any statutory or third-party payment has been made or committed, such amounts shall be strictly non-refundable.
3. Non-Refundable Charges
The Customer expressly acknowledges that all amounts paid or incurred towards vehicle registration, insurance premiums, logistics, transportation, stamp duty, agreement execution, and any third-party or vendor payments shall be non-refundable under all circumstances once incurred, accrued, or committed by AMP.
4. Non-Refundability of Usage Charges
Notwithstanding anything to the contrary contained herein or in any agreement, all lease rentals, subscription fees, and any charges attributable to the Customer’s possession, custody, control, or use of the vehicle shall be non-refundable, non-adjustable, and non-proratable under all circumstances.
The chargeable usage period shall commence from the earlier of (i) the date of physical delivery of the vehicle, or (ii) the date on which AMP communicates that the vehicle is ready for handover, and shall continue until the date of return, repossession, or termination, as determined by AMP. Any part of a billing cycle during which the vehicle remains in the possession, custody, or control of the Customer shall be deemed to constitute a full billing cycle, and the corresponding rental shall be deemed to have been fully earned by AMP.
5. Security Deposit
Any security deposit collected from the Customer shall be held as a performance security and risk mitigation instrument and shall not constitute a refundable entitlement. Refund of such deposit, whether in whole or in part, shall be subject to full satisfaction of all obligations of the Customer and shall be determined by AMP based on its internal assessment and applicable cost considerations. AMP shall have the unrestricted right to appropriate and adjust the security deposit against any dues, liabilities, losses, damages, or claims.
6. Early Termination
Any cancellation, return, discontinuation, or default after delivery or readiness for handover shall be treated as early termination. In such event, AMP shall be entitled to recover a minimum guaranteed rental amount irrespective of actual usage.
Where termination occurs within the first six (6) months from commencement, AMP shall be entitled to recover an amount equivalent to six (6) months of rental. Where termination occurs after six (6) months but within twelve (12) months, AMP shall be entitled to recover an amount equivalent to nine (9) months of cumulative rental. Where termination occurs after twelve (12) months but within twenty-four (24) months, AMP shall be entitled to recover an amount equivalent to twelve (12) months of cumulative rental. In all cases, any shortfall between the amount already paid and the applicable minimum guaranteed rental shall be recovered from the security deposit, and where such deposit is insufficient, the Customer shall be liable to pay the balance forthwith upon demand.
In addition to the minimum guaranteed rental, AMP shall be entitled to recover all additional charges including early termination charges, depreciation loss, foreclosure charges, repossession costs, remarketing expenses, and any other loss incurred as reasonably determined by AMP based on internal assessment and prevailing market conditions.
7. Adjustment and Recovery
AMP shall have the absolute and unrestricted right to adjust any amounts received from the Customer, including the security deposit, against any dues, charges, damages, penalties, or losses. In the event that the total liabilities exceed the amounts available with AMP, the Customer shall remain unconditionally liable to pay the differential amount immediately upon demand, without any right of set-off or dispute.
8. Repossession Rights
In the event of default, non-payment, or failure to return the vehicle upon termination, AMP shall have the right to repossess the vehicle, with or without notice, and to recover all associated costs including legal, recovery, and logistical expenses from the Customer. Such repossession shall be without prejudice to any other rights available to AMP.
9. Interest on Outstanding Amounts
Any amount payable by the Customer and not paid on the due date shall attract interest at the rate of [18%] per annum or such other rate as reasonably determined by AMP, from the due date until realization.
10. Indemnity
The Customer agrees to indemnify, defend, and hold harmless AMP, its affiliates, and representatives from and against any and all losses, damages, liabilities, claims, costs, and expenses arising out of or in connection with the Customer’s use, possession, operation, or misuse of the vehicle.
11. Refund Eligibility and Processing
Any refund, if determined to be payable, shall be processed only after return of the vehicle, full settlement of all dues, and completion of AMP’s internal verification and assessment. All timelines for processing refunds are indicative only, and any delay shall not give rise to any liability, interest, or compensation.
12. Limitation on Refund Amount
Notwithstanding anything contained elsewhere, any refund shall be subject to deduction of all charges, costs, and liabilities incurred, accrued, or committed by AMP, including but not limited to processing and administrative charges, vehicle sourcing and logistics costs, registration and statutory charges, insurance premiums, lease rentals due or accrued, early termination charges, depreciation loss, damages, penalties, loss recoveries, and any third-party payments.
In the event that such charges exceed the total amount received from the Customer, the Customer shall remain unconditionally liable to pay the differential amount forthwith upon demand, and no refund shall be payable. The Customer expressly waives any right to dispute the basis of such deductions, except as required under applicable law.
13. Delivery Timelines
Any timelines communicated for delivery are indicative in nature and shall not constitute a binding commitment. Delay in delivery shall not entitle the Customer to cancellation or refund as a matter of right, and any such request shall be subject to AMP’s discretion.
14. Credit and Documentation
In the event of failure by the Customer to complete documentation, or withdrawal from the process, AMP shall be entitled to retain such amounts as it deems appropriate towards costs incurred. In cases where the application is declined by AMP, any refund shall be subject to deductions as determined by AMP.
15. Force Majeure
AMP shall not be liable for any delay, failure, or inability to perform its obligations due to events beyond its reasonable control, including but not limited to acts of God, governmental actions, supply chain disruptions, labor disturbances, or unforeseen events.
16. Set-Off
AMP shall have the right to set off any amounts payable to the Customer against any amounts due or payable by the Customer.
17. No Waiver
Failure or delay by AMP in enforcing any provision of this Policy shall not be construed as a waiver of its rights.
18. Severability
If any provision of this Policy is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
19. Dispute Resolution
All disputes arising out of or in connection with this Policy shall be referred to arbitration in accordance with the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be Delhi, and the proceedings shall be conducted in English.
20. Governing Law and Jurisdiction
This Policy shall be governed by the laws of India. Subject to arbitration, the courts at Delhi shall have exclusive jurisdiction.
21. Final Authority
All determinations, calculations, and decisions made by AMP under this Policy shall be final and binding on the Customer, subject only to applicable law.
Contact
Reach us at:
AG 5, Block G, Sector 42, Noida, Uttar Pradesh, 201301
India