On 27 Jun 2011, Auto Square Off by System failed. I had to Square Off manually at 3:25pm which is really risky. On calling their support desk, I was told that there is some 'technical issue' (a very old repeated excuse) & that all pending positions will be Squared Off after 3:30pm or next day morning. This kind of action may result in losses because next day the stocks could open at lower prices.
Lesson:
Do not have full faith on ICICI. If positions are not closed by 3:15pm, do it yourself.