Angel One settles Sebi proceedings over lapses in monitoring authorised persons, pays Rs 4.28 crore

Angel One settled Sebi proceedings over alleged lapses in monitoring and supervising two of its authorised persons, Deepankar Barman and Nadella Srinivas Rao, by paying Rs 4.28 crore as settlement charges. The regulator had alleged the brokerage failed to detect unauthorised fund collection, conduct adequate due diligence, identify disproportionate trading patterns, and scrutinise unauthorised social media activity including assured-return promises. The settlement was approved by Sebi's High Powered Advisory Committee and a panel of Whole Time Members, with the amount remitted on May 22, 2026, disposing of the adjudication and enquiry proceedings.