Angel One Settles Disclosure Case with Sebi

Brokerage house Angel One has settled allegations of disclosure lapses with the Securities and Exchange Board of India (Sebi) by paying Rs 34.57 lakh. The firm was accused of failing to disclose significant developments regarding its proposed scheme of arrangement.

Sebi claimed that Angel One violated disclosure obligations by not reporting these developments promptly, noting a two-hour delay in disclosing the outcome of a company meeting held on August 9, 2023. This led to adjudication proceedings and a show-cause notice issued by Sebi.

Angel One opted for a settlement with Sebi, agreeing to pay without admitting or denying any violations. The settlement application was accepted by Sebi, leading to the closure of the proceedings against the brokerage firm.