Revision of Application Form for Mutual Fund Registration

Page 1 of 2 Circular HO/24/11/36(24)2026-IMD-RAC4/I/18849/2026 August 17, 2026 To, Entities desirous of becoming Sponsor of a Mutual Fund/ All Asset Management Companies (AMCs)/ All Trustee Companies/Boards of Trustees of Mutual Funds/ Association of Mutual Funds in India(AMFI) Madam/ Sir, Sub: Revision of Application Form for Mutual Fund Registration 1. Please refer to the Master Circular for Mutual Funds dated March 20, 2026 (“Master Circular”) which, inter alia, prescribes the requirements relating to registration of Mutual Funds. 2. At present, applications for registration of a Mutual Fund are processed in two stages, i.e. In-principle approval to the sponsor / applicant for setting up a Mutual Fund and Final registration of the Mutual Fund. 3. Currently, the application for in-principle approval is required to be submitted in Form A, as prescribed under the Master Circular. Further, the application for final registration of a Mutual Fund is required to be accompanied by Forms C and D. 4. In view of the recent overhaul of the SEBI (Mutual Funds) Regulations, 2026 and SEBI Intermediaries Regulations, it has been decided to revise and consolidate the existing forms into a single application form for registration of Mutual Funds. The revised format of Form is enclosed as Annexure A. 5. All other conditions specified in the Master Circular, shall remain unchanged. 6. This Circular is issued in exercise of the powers conferred by Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with SEBI (Mutual Funds) Page 2 of 2 Regulations, 2026, to protect the interest of investors in securities and to promote the development of, and to regulate the securities market. 7. This Circular is available at www.sebi.gov.in under the link “Legal → Circulars”. Yours sincerely, Jubin Mehta Deputy General Manager Investment Management Department Annexure A Application for the Grant of Registration of Mutual Fund- Form A Application for In-Principle Approval Part A — Identification and Constitution of the Sponsor S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 1 Name of sponsor(s) Name of sponsor / sponsor(s) and specify the sponsor type: – Body corporate – Limited Liability Partnership (LLP) – Pooled Investment Vehicle (PIV) – Private Equity (PE) fund – Any other type 2 Registered and operating addresses For sponsor / sponsor(s) entity, furnish the registered address, the correspondence address, the principal place of business or operations. 3 Contact person details For sponsor / sponsor(s) entity, provide the contact person’s name, mobile number, e-mail address and designation. Part B — Shareholding and Capital Structure S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 5 Shareholding pattern and Ultimate Beneficial Owner (UBO) of sponsor /sponsor(s) Furnish the shareholding pattern of sponsor / sponsor(s) (name of holder and percentage held), including identification of the Ultimate Beneficial Owner(s). 6 Capital structure of the sponsor Provide the capital structure of sponsor / sponsor(s) entity (authorised, issued, subscribed and paid-up capital). 7 Proposed net worth contribution to the AMC State the proposed contribution of sponsor / sponsor(s) to the net worth of the AMC, expressed both as an amount and as a percentage of shareholding. Annexure A S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 8 Latest Net worth of sponsor State the latest net worth of sponsor / sponsor(s) and provide the latest auditor-certified net worth certificate in the format prescribed under the MF Regulations. 9 Audited financial statements Submit the audited balance sheet and profit and loss account for the last five (5) financial years for sponsor / sponsor(s) Part C — Eligibility Route and Item-wise Compliance [Regulation 5] The sponsor shall indicate the route under which the application is submitted along with item- wise compliance with the conditions applicable to that route. Tick the elected route below and provide compliance details against each applicable condition. Route elected (tick one): [ ] Route 1 — Regulation 5(a) [ ] Route 2 — Regulation 5(a) Route 1 - [Regulation 5(a)] S.No Particulars Criteria Compliance details furnished Annex. Ref. 1 Experience Carrying on business in financial services for minimum five years. 2 Net Worth Net worth is positive in each of the immediately preceding five years. 3 Positive Liquid Net Worth Positive liquid net worth is more than the proposed capital contribution of the sponsor in the AMC. 4 Profitability Net profit in financial services business after providing for depreciation, interest and tax in each of the immediately preceding five years 5 Average net annual profit of at least rupees ten crore, after depreciation, interest and tax, from financial services business during the immediately preceding five years. Annexure A Route 2 – [Regulation 5(a)] S.No Particulars Condition Compliance details furnished with undertaking Annex. Ref. 1 Experience Appoint experienced personnel in AMC such that the total combined experience of Chief Executive Officer, Chief Operating Officer, Chief Risk Officer, Chief Compliance Officer and Chief Investment Officer should be at least thirty years and each of them shall have a minimum of 3 years of relevant experience. 2 Net Worth Net worth of the asset management company shall be at least rupees one hundred fifty crore (Rs. 150 Crores) at the time of registration which shall be infused by the sponsor. 3 Positive Liquid Net worth Positive liquid net worth is more than the proposed capital contribution of the sponsor in the AMC. 4 Lock-in Requirement Initial shareholding equivalent to capital contributed to the AMC to the extent of at least Rs 150 crore is locked-in for a period of five years. Part D — Business Activities, Experience and Regulated Activities S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 10 Line of business and experience Describe the line of business activities of sponsor / sponsor(s) and provide details of its experience, particularly in financial services. 11 Regulated activities of the sponsor and its associates/subsidiaries Furnish details of the regulated activities of the sponsor and its associates/subsidiaries, in tabular form, capturing the following for each associated entity/subsidiaries: – Name of the associated entity – Business area Annexure A S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. – Regulator (if any) – Assets managed (Rs crore) – Number of customers / investors Part E — Details of Management, Associates and Group Companies S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 12 Management of the sponsor and its associates/subsidiaries Furnish details w.r.t management of sponsor / sponsor(s) and its associates/subsidiaries, including: – Organisation structure – Board of directors, with PAN (for Indian entities) or passport (for non-Indian entities) – Names of Key Management Personnel (KMP) – Board of the company, with name, experience and qualifications of each member. Part F — Database Verification and Regulatory History S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. 13 Database verification and undertaking Provide verification and an undertaking in respect of the following databases, covering the sponsor, its associates, subsidiaries, group companies and their directors: – CIBIL database (both suit-filed and non-suit-filed) – United Nations Security Council (UNSC) Consolidated Sanctions List https://main.un.org/securitycouncil/en/content/un- sc-consolidated-list – International Organization of Securities Commissions (IOSCO) Database- https://www.iosco.org/i-scan/ – SEBI Prosecution List – https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListingAll=yes&cid=14 14 Fit and proper declaration Submit a self-certified “fit and proper person” declaration as per Schedule II of SEBI (Intermediaries) Regulations, 2008, in respect of: – the applicant – the directors or managing partners Annexure A S.No Particulars / Requirement Applicant’s Response / Status Annex. Ref. – the key management personnel – the promoters or persons holding a controlling interest, or persons exercising control over the applicant or intermediary, directly or indirectly – the Ultimate Beneficial Owner(s) 15 Regulatory actions in the last five (5) years Provide details of any regulatory action taken by any regulator, in India or abroad, against the sponsor or its associates in the last five (5) years.