ICICI Lombard General Insurance Company Limited has informed the Exchange about Update on Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
ICICI Lombard received an order on June 28, 2025 from the Additional Commissioner of State Tax (Appeal), Ranchi, confirming an earlier GST demand. The order relates to the period July 2017 to March 2018 and was passed due to discrepancies in input tax credit availment and its computation. The total financial implication is a GST demand of ₹27.79 lakh, interest of ₹25.86 lakh, and a penalty of ₹2.78 lakh — totalling about ₹56.43 lakh. The company had previously appealed the original 2023 order and now plans to pursue further appeal or evaluate other legal options. The company has stated there is 'no impact at this stage' pending the next legal course of action.
The financial amount involved is small relative to ICICI Lombard's overall size and is unlikely to materially affect the stock. Investors should monitor whether the company ultimately has to pay after exhausting legal remedies, but the filing itself is a routine regulatory disclosure with limited business impact.