BSECompany Update3d ago · 2 Sept 2026, 06:24 pm
Update on Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
ICICI Lombard General Insurance Company Ltd · 540716
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ICICI Lombard General Insurance Company Ltd has received orders from the Commissioner of Customs & Central Tax (Appeals-I), Hyderabad, allowing the Department's appeal and rejecting the Company's appeal, resulting in an aggregate GST demand of ₹ 3,29,83,282/- and penalty of ₹ 14,78,606/- for FY2018-19. The Company will pursue an appeal or evaluate other legal options.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk8/10
Balance Sheet Risk6/10
Liquidity Impact4/10
Market Sentiment3/10
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ICICI Lombard General Insurance Company Ltd - 540716 - Update On Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
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September 2, 2026
The Manager The Manager
Listing Department Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot C/1
Dalal Street G Block, Bandra Kurla Complex,
Mumbai – 400 001 Mumbai – 400 051
Scrip code: Equity (BSE: 540716/ NSE: ICICIGI)
Dear Sir/Madam,
Subject: Update on Disclosure under Regulation 30 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015
This is with reference to our letter dated April 11, 2024, wherein the Company had
informed the stock exchanges regarding receipt of an Order, from the Additional
Commissioner, Customs & Central Tax, Hyderabad GST Commissionerate,
Hyderabad raising a GST demand of ₹ 1,47,86,059/- and penalty of ₹ 14,78,606/-
for FY2018-19 under Section 73 of the Central Goods and Services Tax Act, 2017
(“the Act”). The Company had subsequently filed an appeal against the said Order.
The Department also filed an appeal against the relief of tax demand of
₹ 1,81,97,223/- granted to the Company vide the said Order.
In this regard, please note that the Company has received Order from the
Commissioner of Customs & Central Tax (Appeals-I), Hyderabad (Commissioner
Appreals-I) on September 1, 2026 at 6:32 p.m., wherein the appeal filed by the
Department was allowed. The Company has also received Order from the
Commissioner Appreals-I on September 2, 2026 at 12:52 p.m., wherein the appeal
filed by the Company was rejected. This resulted in aggregate GST demand of
₹ 3,29,83,282/- and penalty of ₹ 14,78,606/- for FY2018-19. The Company would
pursue an appeal / evaluate any other legal options against the aforesaid Orders,
including filing of writ petition. The requisite details of the aforesaid Orders are
enclosed herewith as Annexure 1.
ICICI Lombard General Insurance Company Limited
IRDA Reg . No. 115 CIN: L67200MH2000PLC129408 You can contact us at:
Mailing Address: Registered Office: Toll free No.: 1800 2666
Sixth floor- Interface 16, ICICI Lombard House, 414, Veer Savarkar Marg, Email: customersupport@icicilombard.com
Office no 601 & 602, Near Siddhi Vinayak Temple, Prabhadevi, Website: www.icicilombard.com
New linking Road, Malad Mumbai - 400 025.
west, Mumbai - 400064.
We further state and declare that the information and details provided in
Annexure 1, in compliance with Regulation 30(13) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 read with the Industry Standards
Note on Regulation 30 are true, correct and complete to the best of our knowledge
and belief.
The above information will also be made available on the Company's website at
www.icicilombard.com.
You are requested to kindly take the same on your records.
Thanking you.
Yours Sincerely,
For ICICI Lombard General Insurance Company Limited
Vikas Mehra
Company Secretary
Encl. As above
ICICI Lombard General Insurance Company Limited
IRDA Reg . No. 115 CIN: L67200MH2000PLC129408 You can contact us at:
Mailing Address: Registered Office: Toll free No.: 1800 2666
Sixth floor- Interface 16, ICICI Lombard House, 414, Veer Savarkar Marg, Email: customersupport@icicilombard.com
Office no 601 & 602, Near Siddhi Vinayak Temple, Prabhadevi, Website: www.icicilombard.com
New linking Road, Malad Mumbai - 400 025.
west, Mumbai - 400064.
Annexure 1
Sr. Particulars Details-Order dated Details- Order dated
No. September 1, 2026 September 2, 2026
1. Name of the listed ICICI Lombard General Insurance Company Limited
company
2. Type of Orders received by the Company under Section 107
communication of the CGST/Telangana Goods and Services Tax
received Act, 2017
3. Date of receipt of September 1, 2026 September 2, 2026
communication
4. Authority from whom Commissioner of Customs & Central Tax
communication (Appeals-I), Hyderabad
received
5. Brief summary of the The Order allows the The Order rejects
material contents of appeal filed by the appeal filed by the
the communication Department against the Company and confirms
received, including relief of tax demand of t h e G S T d e m a nd of
reasons for receipt of ₹ 1,81,97,223/- which ₹ 1,47,86,059/- and
the communication was allowed to the penalty of
Company on ground of ₹ 14,78,606/- for the
input tax credit eligible to FY2018-19
the Company.
The demand is
confirmed on the
following grounds:
1) Computation of input
tax credit eligible to the
Company
2)Alleged
undischarged tax
liability due to
differences between
returns filed by the
Company
6. Period for which April 2018 to March 2019
communication
would be applicable,
if stated
7. Expected financial No Financial impact at The total demand
implications on the this stage including Interest and
ICICI Lombard General Insurance Company Limited
IRDA Reg . No. 115 CIN: L67200MH2000PLC129408 You can contact us at:
Mailing Address: Registered Office: Toll free No.: 1800 2666
Sixth floor- Interface 16, ICICI Lombard House, 414, Veer Savarkar Marg, Email: customersupport@icicilombard.com
Office no 601 & 602, Near Siddhi Vinayak Temple, Prabhadevi, Website: www.icicilombard.com
New linking Road, Malad Mumbai - 400 025.
west, Mumbai - 400064.
listed company, if any Penalty already forms
part of the contingent
liability
8. Details of any Refer Sr. No. 5 above Refer Sr. No. 5 above
aberrations/ non-
compliances
identified by the
authority in the
communication
9. Details of any - The Order confirms the
penalty or restriction Penalty of
or sanction imposed ₹ 14,78,606/- levied on
pursuant to the the Company
communication
10. Action(s) taken by The Company would pursue an appeal / evaluate
listed company with any other legal options against the aforesaid
respect to the Orders, including filing of writ petition.
communication
11. Any other relevant - -
information
ICICI Lombard General Insurance Company Limited
IRDA Reg . No. 115 CIN: L67200MH2000PLC129408 You can contact us at:
Mailing Address: Registered Office: Toll free No.: 1800 2666
Sixth floor- Interface 16, ICICI Lombard House, 414, Veer Savarkar Marg, Email: customersupport@icicilombard.com
Office no 601 & 602, Near Siddhi Vinayak Temple, Prabhadevi, Website: www.icicilombard.com
New linking Road, Malad Mumbai - 400 025.
west, Mumbai - 400064.