Kahn Swick & Foti, LLC has reminded investors in HDFC Bank Limited of a pending securities class action in the U.S. District Court for the Southern District of New York. The case, Soneji v. HDFC Bank Limited, Case No. 26-cv-06943, covers purchases or acquisitions of HDFC securities from July 17, 2023, through May 26, 2026. The complaint alleges that HDFC and certain executives failed to disclose material information about a payment arrangement involving the Maharashtra State Road Development Corporation. According to the allegations, HDFC routed roughly Rs 45 crore, or about $4.7 million, through purported marketing expenditures to support a 6.01% interest rate for MSRDC deposits, 2.51 percentage points above the rate paid to other depositors. The payments were characterized as sponsorship of an MSRDC road-safety awareness initiative. An internal investigation conducted in March and April 2026 reportedly found more than 10 senior officials responsible for the scheme, including CEO Sashidhar Jagdishan. HDFC shares fell $1.02, or 4.1%, to close at $23.78 on May 27, 2026, after The Indian Express reported the allegations. The earlier complaint also alleged that HDFC overstated interest income and operating expenses and made misleading statements about governance and financial controls. Investors seeking appointment as lead plaintiff must petition the court by October 13, 2026.