HDFC Bank denies charges, says will vigorously fight US class action suits

Lender expects its response to be due in early 2021, says there is no matter currently that requires disclosure

Private sector lender HDFC Bank on Monday denied allegations of any wrongdoing in its lending practices and said it would vigorously defend itself against the lawsuit filed in the US. 

According to a source, the statement pertains to a lawsuit filed by US-based law firm Pomerantz, whereas two other firms — Rosen Law Firm and Schall Law — have already announced that they would be filing suits against the bank. However, they have not filed the suits yet. 

The class action lawsuits alleges the bank gave misleading public statements and for failing to inform the investors about the bank’s improper