A Bahrain court has rejected all seven legal proceedings brought by investors against HDFC Bank over Credit Suisse Additional Tier 1 bonds, finding insufficient evidence to substantiate their allegations against the bank.
The High Civil Court of Bahrain has rejected claims in all seven proceedings filed against HDFC Bank by investors in Credit Suisse Additional Tier 1 (CS AT1) bonds after examining their allegations and the evidence produced before it.
In a statement, HDFC Bank said it received the favourable orders on September 9 following the court’s examination of the investors’ claims and the evidence presented in the proceedings. Five other similar matters involving CS AT1 bond investors were rejected by the Bahrain Court between July and August 2026.
“The seven investors in their complaints had all alleged gross negligence, intentional misrepresentation, incorrect customer classification, non-disclosure of product features/characteristics, misuse of financial leverage and violation of product suitability principles with respect to their investment in CS AT1 Bonds through the Bank. All these allegations were rejected outright by the Court,” it said.
The Bahrain Court rejected their claims outright after finding that the investors had failed to produce sufficient admissible evidence to prove/substantiate these allegations against the Bank or that they suffered any loss owing to the Bank, it said, adding that in all the seven judgments by the Bahrain Court, the investors were ordered to bear the costs of the proceedings.
The favourable Bahrain rulings follow the dismissal in March 2026 by the National Consumer Dispute Redressal Commission (NCDRC) of complaints filed by CS AT1 bond investors against HDFC Bank.
More from BusinessAccording to HDFC Bank, the NCDRC held that the bank had acted only as a facilitator and that investors had full autonomy to decide whether to invest in CS AT1 bonds.
The bank said the commission found that the investors had voluntarily made the investments after considering them and approached the bank only after the investments failed to deliver their expected returns. It also said the investors were well versed with the nature of the investments at the time they invested.
HDFC Bank said it would continue to support customers, however the Bank is not in the business of underwriting the investments made by the customers out of their own judgement and it will therefore defend itself rigorously against any unsubstantiated claims.
