ICICI Lombard General Insurance Company Limited — Others, 31-03-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

ICICI Lombard General Insurance has received an Income-tax order demanding ₹ 9,587.67 Cr for the Assessment Year 2020-21. This includes interest components totaling ₹ 3,419.14 Cr. The order arose from disallowances related to marketing expenses, claims provisions, and TDS issues, which are seen as industry-wide challenges. The company plans to appeal this decision with the relevant authorities. Investors might view this announcement with caution due to the significant tax liability, potentially impacting the company’s short-term financial health, although management's proactive approach in pursuing legal recourse may offer a sense of assurance.