ICICI Lombard General Insurance Company , one of India's leading private sector general insurance companies, has received a significant GST demand order from the tax authorities. The company plans to contest this order through legal channels.

GST Demand Details

The Joint Commissioner, CGST Central Excise, Bhopal, has issued an order to ICICI Lombard, raising a GST demand of ₹47.41 crore along with a penalty of ₹47.41 crore. This order covers the financial years 2018-19 to 2022-23.

Grounds for Demand

The GST authorities have cited several reasons for this demand:

1. Reconciliation differences between tax returns and financial statements
2. Alleged delayed payment of tax on advances received
3. Short payment of tax under reverse charge mechanism on certain expenses
4. Disputes over the computation of input tax credit

Company's Response

ICICI Lombard has stated that it plans to pursue an appeal with the Appellate Authorities. The company is also evaluating other legal options, including the possibility of filing a writ petition against the order.

Importantly, the company has declared that there is no financial impact at this stage, suggesting confidence in its position and the potential for a favorable outcome through the appeal process.

Financial Context

Despite this regulatory challenge, ICICI Lombard's financial position remains robust. As per the latest balance sheet data:

The company's strong financial position, with growing assets and a solid capital base, suggests it is well-equipped to handle regulatory challenges while maintaining its market position.

Implications and Outlook

This GST demand highlights the complex regulatory environment in which insurance companies operate in India. It also underscores the importance of robust financial management and tax compliance systems.

For investors and stakeholders, while the immediate financial impact is stated to be nil, the outcome of the appeal process will be crucial to monitor. The company's proactive approach in challenging the order and its strong financial footing provide some reassurance.

As the situation develops, it will be important to watch for any updates on the appeal process and any potential long-term implications for ICICI Lombard's financial strategies and tax management practices.

ICICI Lombard General Insurance Company has announced the allotment of 15,571 equity shares under its employee stock schemes on January 5, 2026. This latest corporate action, approved by a Whole-time Director at 02:59 p.m., represents a continued commitment to the company's employee compensation and retention strategy.

Latest Allotment Details

The allotment approved on January 5, 2026, includes shares distributed under two distinct employee schemes:

Key Features

The allotment was made pursuant to the authority delegated by the Board of Directors at its meeting held on July 18, 2023. Each allotted equity share carries a face value of ₹10.00 and will rank pari-passu with the existing equity shares of the company in all respects.

Regulatory Compliance

ICICI Lombard has informed the BSE and NSE about this allotment through official communication, maintaining transparency with regulatory authorities. The company's scrip codes are BSE: 540716 and NSE: ICICIGI.

Previous Allotments

This follows a previous allotment of 55,851 equity shares under similar employee stock schemes in November 2025, demonstrating the company's ongoing commitment to employee participation in ownership.

The equity share allotment under employee stock schemes underscores ICICI Lombard's strategy of aligning employee interests with those of the company and its shareholders. Such initiatives typically serve to motivate and retain talent while contributing to long-term organizational growth.

Investors and stakeholders can find more information about this allotment on the company's official website at https://www.icicilombard.com .