SEBI Settlement Order Against Singularity AMC LLP for AIF Regulatory Violations

Last updated: 13 October 2026

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The Securities and Exchange Board of India (SEBI) has reached a settlement with Singularity AMC LLP concerning alleged breaches of Alternative Investment Fund (AIF) regulations. Singularity AMC LLP, the manager of the Singularity Equity Fund – I (a Category III AIF), is accused of violating rules regarding the maintenance of a continuing interest in the fund. The settlement allows the company to resolve the proceedings without admitting or denying the findings.

SECURITIES AND EXCHANGE BOARD OF INDIA
SETTLEMENT ORDER IN RESPECT OF

Settlement Application No.	Name of the Applicant	PAN
8658/2025	Singularity AMC LLP	AEIFS7280J

IN THE MATTER OF SINGULARITY EQUITY FUND

1.Singularity AMC LLP (hereinafter referred to as the “Applicant”)filed suo-motusettlement application with the Securities and Exchange Board of India (hereinafter referred to as “SEBI”) under the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 (hereinafter referred to as the “Settlement Regulations”) proposing to settle by neither admitting nor denying the findings of facts and conclusions of law, the enforcement proceedings that may be initiated against it for alleged violation of regulation 10(d) of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 (hereinafter referred to as the “AIF Regulations”)read with clause 11.1.2 of the Master Circular for Alternative Investment Fundsdated May 7, 2024 (hereinafter referred to as “Master Circular”).

2.Brief facts of the case are as follows:
(a)Singularity Equity Fund –I (hereinafter referred to as the “Scheme”) is a Scheme of Singularity Equity Fund (hereinafter referred to as the “Fund”), registered with SEBI as a Category III Alternative Investment Fund, of which the Applicant is the Manager.(b)Regulation 10(d) of the AIF Regulations read with clause 11.1.2 of the Master Circular requires the Manager or sponsor to maintain a continuing interest in the Alternative Investment Fund which, in the case of a Category III Alternative Investment Fund, shall not be less than five percent of the corpus or ten crore rupees, whichever is lower.

FAQ :

Singularity AMC LLP is the manager of the Singularity Equity Fund – I, which is registered with SEBI as a Category III Alternative Investment Fund.

Singularity AMC LLP allegedly violated regulation 10(d) of the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, read with clause 11.1.2 of the Master Circular for Alternative Investment Funds.

For Category III Alternative Investment Funds, the Manager or sponsor must maintain a continuing interest in the fund, which should not be less than five percent of the corpus or ten crore rupees, whichever is lower.

SEBI has issued a settlement order against Singularity AMC LLP. The company filed a settlement application under the SEBI (Settlement Proceedings) Regulations, 2018.

No, Singularity AMC LLP proposed to settle the proceedings by neither admitting nor denying the findings of facts and conclusions of law.

Notification No : SO/PSD/2026-27/8658
Source : https://www.sebi.gov.in/enforcement/orders/oct-2026/settlement-order-in-the-matter-of-singularity-equity-fund_105156.html

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