ICICI Lombard General Insurance has secured significant legal relief as the Bombay High Court granted a temporary stay on a substantial GST demand and associated penalties. This development provides immediate respite to the insurance company from a major tax liability that could have had considerable financial implications.

Court Ruling Details

The Bombay High Court's decision encompasses both the primary GST demand and substantial penalties imposed on the company. The temporary stay effectively suspends the company's immediate obligations related to this tax matter.

Financial Impact Assessment

The company has explicitly stated that there is no financial impact currently resulting from this court ruling. This indicates that the temporary stay effectively shields ICICI Lombard General Insurance from immediate payment obligations or financial consequences related to the GST demand and penalties.

The substantial nature of the GST demand, totaling over ₹17,000 crores, represents a significant sum that could have materially affected the company's financial position had the stay not been granted. The additional penalty of ₹1,728.86 crores further amplifies the total potential liability to over ₹19,000 crores.

Legal Proceedings Status

The temporary nature of the stay suggests that this is an interim measure while the underlying GST matter continues to be adjudicated. The court's decision provides the company with breathing room to pursue its legal remedies and present its case regarding the GST demand without facing immediate financial pressure.

This legal development allows ICICI Lombard General Insurance to continue its operations without the immediate burden of this substantial tax liability, while the matter remains under judicial consideration.

ICICI Lombard General Insurance Company Limited has announced the allotment of 22,656 equity shares under its employee stock option schemes on January 22, 2026. The allotment was communicated to both BSE Limited and National Stock Exchange of India Limited through an official filing.

Share Allotment Details

The company allotted a total of 22,656 equity shares of ₹10.00 each under two distinct employee benefit schemes. The distribution of shares across the schemes is presented below:

Approval and Authorization

The share allotment received approval from a Whole-time Director of the company on January 22, 2026 at 03:02 p.m. This approval was granted pursuant to the authority delegated by the Board of Directors at its meeting held on July 18, 2023. The newly allotted equity shares will rank pari-passu with the existing equity shares of the company in all respects.

Corporate Information

ICICI Lombard General Insurance Company Limited operates under IRDA Registration Number 115 and Corporate Identification Number L67200MH2000PLC129408. The company's registered office is located at ICICI Lombard House, 414, Veer Savarkar Marg, Near Siddhi Vinayak Temple, Prabhadevi, Mumbai - 400 025.

The filing was signed by Vikas Mehra, Company Secretary, and the information has been made available on the company's official website at www.icicilombard.com for stakeholder reference.