HDFC Bank Faces Investigation By Three US Securities Law Firms

Three US-based law firms have launched investigations into whether HDFC Bank violated US federal securities laws following reports related to the bank’s internal vigilance probe and governance matters.

Glancy Prongay & Rotter LLP, the Law Offices of Frank R. Cruz and the Law Offices of Howard G. Smith issued separate announcements inviting investors who incurred losses to contact them. The firms said they are examining whether HDFC Bank made misleading disclosures or failed to provide information required under US securities laws. The investigations follow a report published on May 27, 2026, by The Indian Express, which claimed that HDFC Bank conducted an internal probe into alleged payments routed through its marketing department.

The report also alleged that Rs 45 crore was recorded as marketing expenditure to facilitate higher interest payments to the Maharashtra State Road Development Corporation (MSRDC).

HDFC Bank’s American Depositary Shares are listed on the New York Stock Exchange, making the lender subject to US securities disclosure requirements.