Key Developments
On July 13, 2026, at 9:13 p.m., ICICI Lombard General Insurance Company Limited received an Arbitration Award passed by an Arbitral Tribunal through its legal counsel. The award was in relation to a dispute with M/s. Roadway Solutions Narayanpur Roads Project Pvt. Limited (the Insured).
Case Background
The dispute originated from six (6) insurance policies issued by Bharti AXA General Insurance Company Limited to the insured. ICICI Lombard acquired Bharti AXA's business in September 2021. In September 2021, the insured invoked arbitration proceedings against the insurer disputing the quantum of claim paid by erstwhile Bharti AXA. The aggregate claim amount under dispute was approximately ₹892.54 million.
Arbitration Award Details
The Arbitral Tribunal passed an award ordering ICICI Lombard to pay the insured:
- Principal amount: ₹776.73 million
- Interest: 7.5% per annum
- Interest period: From the date of filing of Statement of Claim until the date of payment
The policies in question were issued during the period from September 2018 to September 2020.
Financial Impact Assessment
The company explicitly states: "As of now, there is no material financial impact on the Company."
Company Response
ICICI Lombard is evaluating available legal remedies and shall take necessary steps accordingly. The disclosure confirms no aberrations/non-compliances identified by the authority, no penalty or restriction imposed, and no other relevant information beyond the award details.