Bahrain court has ruled in our favour in bond case: HDFC

MUMBAI: Bahrain's high civil court rejected all seven legal proceedings filed against HDFC Bank by investors over Credit Suisse Additional Tier 1 (CS AT1) bonds, with the latest two cases dismissed on Sept 9, the bank said on Thursday. Five similar cases were rejected by the court between July and Aug.AT1 bonds are risky instruments where investors lose money if the issuing bank's net worth is wiped out. The seven investors had alleged gross negligence, intentional misrepresentation, incorrect customer classification, non-disclosure of product features, misuse of financial leverage and breach of suitability principles. The court rejected the claims after finding that the investors had failed to produce sufficient admissible evidence to substantiate the allegations or establish losses caused by the bank.Get the latest Business News and Live updates. Download the TOI app.