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.
CAclubindia
Source : https://www.sebi.gov.in/enforcement/orders/oct-2026/settlement-order-in-the-matter-of-singularity-equity-fund_105156.html