Security deposit refund is applicable only in the following scenarios:
a) Within 14 working days of paying the security deposit and all documents are received from the candidate but as long as no interviews have been scheduled for a candidate and the candidate want to back out at this stage but not thereafter.
b) If the candidate is rejected in the interview process for any reason.
i. The interview will only be conducted once the candidate has provided all documents and is financially clear
c) Special scenarios:
i. Medical emergency/ disability or any similar grave situations amongst first family members which lead to funds diverted for claiming refund under the present head the candidate is mandated to produce appropriate medical documents to substantiate his/her stand. However, refund under the present head shall be at the sole discretion of Magic Billion and the same shall NOT be a matter of right available at the end of the candidate.
ii. Demise of the first family member of the candidate or sponsor
d) Please note Disbursement of the refund amount, if applicable, will be done either on 15th or 30th of the subsequent month.
e) Other than the above-mentioned conditions, no refund would be applicable to the candidate.
NO Refund shall be due:
a) If the candidature of a candidate is canceled due to non-submission of all necessary documents by the candidate.
i. The timeline to submit all necessary documents is within 5 working days of paying the security deposit. It is the duty of the candidate to ensure that documents must reach the team of Magic Billion as attachments in a mail.
ii. If documents are not received, the candidature of the candidate shall be cancelled.
b) If the candidate, for any reason whatsoever, does not appear for the interview(s)/prep round (s).
c) If for any reason the candidate fails to honor the obligation casted upon the candidate by the offer letter released after the interview process is complete, other than those mentioned in the above special scenario point 4.1.c which leads to the above-mentioned offer letter being withdrawn by the Prospective employer.
d) In case candidate backs-out after getting offer letter
e) Backs-out after visa issue – No Refund