Three US law firms have launched investigations into HDFC Bank regarding allegations that the lender may have violated federal securities laws. The scrutiny centers on claims that HDFC Bank improperly classified payments linked to the Maharashtra State Road Development Corporation (MSRDC) as marketing expenses. According to the report, the alleged amount involved is ₹45 crore. The investigations seek to determine whether the bank’s disclosures and accounting treatment of these payments complied with US securities law requirements. The matter is described as part of broader attention on how companies present certain expense categories in financial and regulatory reporting. The report does not indicate the outcome of the inquiries, nor does it specify which parties filed the allegations or the precise legal theories being pursued beyond the alleged securities-law issues related to the payment classification. HDFC Bank’s position, if any, and further procedural details are not included in the provided excerpt.