The Data protection in India is currently governed by the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 (“Data Protection Rules”) notified under the Information Technology Act, 2000 (“IT Act”). Data Protection provisions under the Information Technology Act, 2000 (“IT Act”) governs the controlling and processing, such as the use or holding, of personal data, which is essentially any information about identifiable living individuals, and also gives those individuals certain rights and remedies in respect of that information.
Avendus Wealth Management Private Limited (“Avendus”) is committed to protecting your privacy. The purpose of this notice is to supply you with the required information at the time of providing us with your personal data. This Privacy Notice explains how we collect and use your personal data and what rights and options you have in this respect. This should help you feel more confident about the privacy and the security of your personal data.
Please read this Privacy Notice carefully. By visiting our website or using any of our services, you indicate your agreement to our use of your personal information as set out in this Privacy Notice.
Avendus is responsible for your personal data. The Avendus Group comprises of Avendus Wealth Management Private Limited and Avendus Capital Private Limited whose registered office is at the IL&FS Financial Centre, 6th Floor, C & D Quadrant, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051 India and their affiliates and representatives (“Avendus Entities”). Specifically, your data will be controlled by the Avendus Entity that you have instructed or that is providing services or communication to you in your region.
When do we collect information?
We may collect personal data about you in a number of circumstances:
As a general rule, you will provide us with personal data entirely voluntarily; there are generally no detrimental effects for you if you choose not to consent or to provide personal data. However, there are circumstances in which Avendus cannot take action without certain of your personal data, for example such personal data is required to send you newsletters or to meet our obligations under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 and any other applicable legislation and for the purposes of crime prevention and fraud prevention before we can enter into any contractual obligations for provision of services.
We use information provided by you in the following ways:
We may also use this information to provide you with information about other services we offer that are similar to those that you have already engaged us to provide or enquired about or to provide information about Avendus by way of newsletters or emails.
In such instances Avendus will only do so where we have either received consent from you or we have assessed that there is a legitimate interest for us to send you the communication. When assessing legitimate interest, we will balance our interests with your rights and will only send communications where you would reasonably expect to hear from us.You may opt out of receiving this information when we collect details or at any time by contacting us on email@example.com
We take appropriate security measures (including physical, electronic and procedural measures) to help protect the confidentiality, integrity and availability of your personal information from unauthorised access and disclosure.
We may disclose your information to:
We will not lend or sell your information to third parties.
If you provide personal data to us about someone else (such as one of your directors or employees, or someone with whom you have business dealings) you must ensure that you are entitled to disclose that personal data to us and that, without our taking any further steps, we may collect, use and disclose that personal data as described in this Privacy Notice. In particular, you must ensure the individual concerned is aware of the various matters detailed in this Privacy Notice, as those matters relate to that individual, including our identity, how to contact us, our purposes of collection, our personal data disclosure practices (including disclosure to overseas recipients), the individual's right to obtain access to the personal data and make complaints about the handling of the personal data, and the consequences if the personal data is not provided (such as our inability to provide services).
We are committed to only keeping your personal data for as long as we need to in order to fulfil the relevant purpose (s) it was collected for, as set out above in this notice, and for as long as we are required or permitted to keep it by law.
We retain copies of our customer contracts in order to enable us to deal with any legal issues and the information provided to us for identification verification checks, financial crime and anti-money laundering checks (as required by law) for up to 10 years after termination or expiry of our contract with you. We retain details of complaints for upto 10 years from the date of receipt.
We shall keep records of the following for up to 10 years:
We may share your personal information with Avendus Entities and service providers and this may involve transferring it to countries outside the European Economic Area (EEA) whose data protection laws may not be as extensive as those which apply to us. Where we do so, we will ensure that we do this in accordance with the Acts and take appropriate measures to ensure that the level of protection which applies to your personal information processed in these countries is similar to that which applies within the EEA. Such measures may include only transferring your data to jurisdictions in respect of which there is a European Commission adequacy decision or, where this is not the case, by using model clauses which have been approved by the European Commission which are available here.
We may transfer your personal information between businesses that are legally part of the Avendus Entities for the purposes of providing our services to you as follows:
You have the right to request a copy of the personal data about you, which we hold, to have any inaccurate personal data corrected and to object to or restrict our using your personal data. You may also make a complaint if you have a concern about our handling of your personal data.
If you wish to do any of the above, please send an email to firstname.lastname@example.org We may request that you prove your identity by providing us with a copy of a valid means of identification in order for us to comply with our security obligations and to prevent unauthorised disclosure of data.
When we receive such a request we will endeavour to provide you with these details without delay and at the latest within one month of receipt. We may extend the period of compliance by a further two months where requests are complex or numerous. In such instances Avendus will inform you within one month of the receipt of the request and explain why the extension is necessary.
When Avendus receives a subject access request we will provide a copy of the information held free of charge. Avendus may charge a reasonable fee to comply with requests for further copies of the same information. This does not mean that we will charge for all subsequent access requests rather that the Avendus reserves the right to charge a fee based on the administrative cost of providing the information.
If after reviewing a request, we believe a request is manifestly unfounded or excessive, particularly if it is repetitive, then Avendus may charge a ‘reasonable fee’ which will be decided on a case by case basis. In certain circumstances may even refuse to respond to such requests. You also have the following rights (unless exemptions apply), which can be exercised by contacting us using the details provided below:
When you contact us to exercise any of the rights above, we may ask you to provide some additional information in order to verify your identity, such as your name, your address and proof of identity.
If you would like to lodge a complaint or exercise any of your rights set out above, you can contact us at:
India Post: Avendus Wealth Management Private Limited, The IL&FS Financial Centre, 6th Floor, C & D Quadrant, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051, India