HDFC Bank Mis-Selling Row Escalates As Dubai Investors Plan PMO, RBI Complaints | HDFC Bank Shares

HDFC Bank faces a fresh escalation in the alleged mis-selling controversy involving Carl Icahn investment products sold through its Dubai operations. More than 75 investors are reportedly planning to approach the Prime Minister’s Office, alleging losses and years-long redemption delays involving around $13.5 million in principal investments. Business Today’s Nachiket Kelkar explains the allegations and HDFC Bank’s response. Investors claim the products were presented as capital protected, while leverage reportedly magnified losses. HDFC Bank maintains that there was no mis-selling and that it only facilitated investments, while fund performance and redemptions were the fund house’s responsibility. Regulators may seek further information.