Angel One Pays ₹4.28 Crore To Settle SEBI Proceedings over AP Monitoring Lapses
Moneylife Digital Team 15 June 2026
 
The proceedings arose from alleged violations concerning Angel One's supervision and monitoring of two APs, Deepankar Barman and Nadella Srinivas Rao. SEBI alleged that the brokerage failed to adequately identify and address various irregularities and compliance deficiencies involving these APs.
 
According to the market regulator, Angel One failed to detect unauthorised fund collection activities carried out by an authorised person. It also allegedly failed to conduct adequate due diligence before the closing inspection observations regarding fund movements.
 
SEBI further alleged that the broker failed to take appropriate action against disproportionate trading activities undertaken by an authorised person. The regulator also pointed to shortcomings in monitoring unauthorised social media activities, including claims of assured returns and the use of Angel One's brand name and logo.
 
In the case of another authorised person, SEBI observed that Angel One allegedly failed to conduct inspections despite indications of disproportionate trading activity and significant client fund collections.
 
The regulator also alleged that the brokerage did not take adequate action regarding order placements and instances in which multiple clients were operating under common IP and MAC addresses. Further, Angel One allegedly failed to identify that the authorised person was trading through another stockbroker.
 
The adjudication and enquiry proceedings were initiated for alleged violations of various SEBI and National Stock Exchange (NSE) regulations governing stockbrokers. These included provisions on internal controls, supervision of authorised persons, inspection mechanisms and investor protection measures.
 
Angel One subsequently filed separate settlement applications for the adjudication and enquiry proceedings under the SEBI (Settlement Proceedings) Regulations, 2018. Following discussions with SEBI's internal committee (IC) and recommendations of the high-powered advisory committee (HPAC), the settlement amount of ₹4.28 crore was approved by a panel of SEBI whole-time members (WTMs).
 
SEBI confirmed that Angel One remitted the settlement amount on 22 May 2026. Consequently, the regulator has disposed the adjudication and enquiry proceedings under Section 15JB of the SEBI Act and the Settlement Regulations. However, SEBI has retained the right to reopen or initiate fresh proceedings if it later finds that Angel One failed to make full and true disclosures, breached its undertakings, or if discrepancies emerge in the settlement process.
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