Angel One Pays ₹ 34.57 Lakh to Sebi to Settle Case of Disclosure Lapses

Brokerage house Angel One on Tuesday settled a case of alleged disclosure lapses with markets regulator Sebi by paying ₹ 34.57 lakh.

Angel One settled a case of alleged failure to disclose "material developments" related to the company's proposed scheme of arrangement.

By failing to disclose, the company violated the provisions of Sebi's LODR (Listing Obligations and Disclosure Requirements) Regulations.

In its order, Sebi alleged that Angel One failed "to disclose material developments related to the proposed scheme of arrangement by the company disclosed vide a disclosure made by the company dated August 9, 2023.

"Further, there was a delayed disclosure by the noticee of approximately 2 hours in disclosure of the outcome of the meeting dated August 9, 2023".

Accordingly, the Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against Angel One for alleged violations and issued a show-cause notice.

Pending adjudication proceedings, the broking firm filed a settlement application with Sebi, proposing to settle the instant proceedings initiated against it "without admission or denial of the findings of fact and conclusions of law" under the settlement rules.

Following this, the brokerage paid ₹ 34.57 lakh to Sebi to settle the matter.

"In view of the receipt of the settlement amount by Sebi, the instant adjudication proceedings initiated against the noticee viz., Angel One Ltd, vide Show Cause Notice No. dated April 16, 2025, are hereby disposed of," Sebi said.