ICICI Bank Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
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ICICI Bank has received an Order in appeal from the Maharashtra Goods and Service Tax Department on August 1, 2025, raising a tax demand of ₹26.12 crore along with an equivalent amount of penalty and interest. This follows an earlier order (disclosed on January 4, 2025) against which the Bank had filed an appeal. The Bank stated the disclosure was delayed because it was evaluating the contents of the order. The Bank has stated it will take appropriate steps, including contesting the order through a further appeal within prescribed timelines.
The ₹26.12 crore demand is relatively small for ICICI Bank and unlikely to materially affect financials, but the outcome of the further appeal will determine if any provision is needed. The delayed disclosure may draw procedural scrutiny but the amounts involved are immaterial for the bank's overall position.