RBI cancels registration of Ahmedabad NBFC Gandhinagar Leasing and Finance
The Reserve Bank of India said it has cancelled the certificate of registration of Gandhinagar Leasing and Finance Ltd, an Ahmedabad-based NBFC, which can no longer do NBFC business.
Key points
- The Reserve Bank of India has cancelled the certificate of registration of Gandhinagar Leasing and Finance Ltd, an NBFC.
- RBI said the cancellation took effect on 29 October 2026, under Section 45-IA(6) of the RBI Act, 1934.
- RBI said the company can no longer transact the business of a non-banking financial institution.
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Gandhinagar Leasing and Finance Ltd, a non-banking financial company (NBFC) with its registered office in Ahmedabad, Gujarat. RBI announced the action in a press release dated 9 November 2026 and said the cancellation took effect on 29 October 2026. The company can no longer carry on the business of a non-banking financial institution.
What Happened
RBI said it acted under Section 45-IA(6) of the Reserve Bank of India Act, 1934, which gives it the power to cancel the registration of an NBFC. A certificate of registration is the licence an NBFC needs from RBI before it can carry on the business of a non-banking financial institution, such as lending or taking deposits where permitted.
According to the release, the certificate cancelled was numbered 01.00279 and had been issued on 8 December 1998. The registered office of the company is given as 420, Times Square Arcade, opposite Rambaug, Thaltej-Shilaj Road, Ahmedabad, Gujarat 380059.
RBI said that, as a result of the cancellation, the company shall not transact the business of a non-banking financial institution as defined in clause (a) of Section 45-I of the RBI Act, 1934. The release does not give a reason for the cancellation.
What It Means
After the cancellation, Gandhinagar Leasing and Finance Ltd cannot carry on NBFC business, according to RBI. Anyone who is offered a loan, a deposit scheme or other financial service in the company's name should keep in mind that, as per RBI, it no longer holds a registration to do this business.
Readers who have a complaint against an entity regulated by RBI can file it on RBI's complaint portal at https://cms.rbi.org.in. Information about unauthorised deposit schemes can be reported on RBI's Sachet portal at https://sachet.rbi.org.in. Before dealing with any NBFC, readers can check whether it is registered with RBI.
Source: RBI press release
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Sources & Citations
- RBI press release — Reserve Bank of India