Overall meaning :
The angels whom the idolaters assert to be Allah’s daughters in fact say, ‘Each one of us has his appointed position in the heavens which he does not exceed. We are indeed the ones who stand ranged in ranks before Allah in worship, and we are the ones who glorify Allah and declare Him exalted above all defects.’
These idolaters used to say before your advent, Muhammad, ‘Had we received a book of divine revelations like those the previous peoples had received (such as the Torah and the Gospel), we would certainly have been Allah’s true and devoted servants.’ Yet now that this divine book (the Qur’an)—which they have long wished they would receive, has come to them—they have simply rejected it. They will come to know the dire consequences of their actions!