Bahrain’s High Civil Court ruled for HDFC Bank in two proceedings on September 9, 2026. Those decisions followed the dismissal of five investor cases during July and August 2026. The disputes arose after investors suffered losses on Credit Suisse Additional Tier 1 bonds.

AT1 bonds are risky debt instruments whose value can be written off when the issuing bank runs into financial distress. The investors alleged serious negligence, deliberate misrepresentation, incorrect customer classification and inadequate disclosure of the bonds’ features. They also raised concerns about leverage and whether the products suited the buyers.

The Bahrain court rejected the allegations because the investors had not supplied sufficient evidence that was admissible in court. It also found no clear evidence linking their losses to actions by HDFC Bank. Investors were ordered to pay litigation costs in each of the seven cases.

HDFC Bank had also received a favourable decision in India in March 2026, when the National Consumer Dispute Redressal Commission dismissed AT1 investor complaints. The commission viewed the bank as a facilitator rather than a party that compelled purchases. It observed that investors understood the products, chose to invest independently and complained after returns disappointed.