ICICI Lombard Faces Revised Tax Demand of ₹87.6 Million from Authorities

ICICI Lombard Gets Revised Tax Order Totaling ₹88.8 Million

ICICI Lombard General Insurance Company Ltd informed the exchanges that it has received a revised tax demand of ₹87.6 million along with ₹1.2 million in interest from the tax department. The order pertains to an ongoing assessment, and the company said it is currently evaluating available legal options.

Key Highlights:

Revised demand: ₹87.6 million in taxes and ₹1.2 million in interest.

Nature of the order: Issued by the tax authorities as part of a reassessment proceeding.

Company response: ICICI Lombard stated it is reviewing the order and will take appropriate steps under applicable laws.

Financial impact: The company does not expect a material adverse effect on its financials as of now.

Disclosure: The update was made through a regulatory filing with stock exchanges on Friday.

Source: Company’s exchange filing on BSE and NSE