Reserve Bank cancels Certificate of Registration of Gandhinagar Leasing and Finance Ltd.
RBI - Press Releases · Published 9 November 2026 · Last updated
RBI cancelled the Certificate of Registration of Gandhinagar Leasing and Finance Ltd. on October 29, 2026, barring it from NBFC business under Section 45-IA(6) of the RBI Act.
Key points
- The Reserve Bank of India exercised powers under Section 45-IA (6) of the Reserve Bank of India Act, 1934 to cancel the registration.
- The affected entity is Gandhinagar Leasing and Finance Ltd., an Non-Banking Financial Company (NBFC).
- The Certificate of Registration (CoR) number 01.00279 was originally issued on December 08, 1998.
- The official date of cancellation is recorded as October 29, 2026.
- The registered office is located at 420, Times Square Arcade, Opposite Rambaug, Thaltej-Shilaj Road, Ahmedabad, Gujarat – 380059.
- Post-cancellation, the company is prohibited from transacting business as an NBFI as defined in clause (a) of Section 45-I of the RBI Act.
- The decision was communicated via Press Release 2026-2027/1471 signed by Brij Raj, Chief General Manager.
- This action signifies the removal of regulatory authorization, effectively ending the entity's legal status as a regulated financial institution.
- The cancellation is a regulatory enforcement action, distinct from voluntary deregistration or insolvency proceedings.
- The specific legal basis cited is the power to cancel registration, implying non-compliance or other grounds under the Act.
- The entity's headcount is listed as 0 in external data, suggesting operational cessation prior to or concurrent with the regulatory action.
- The move reinforces the RBI's role in maintaining the integrity of the non-banking financial sector by removing non-compliant entities.
Background
- The Reserve Bank of India Act, 1934 is the primary legislation governing the regulation of NBFCs in India.
- Section 45-I of the RBI Act defines the scope of NBFCs and the requirement for registration with the RBI.
- Section 45-IA provides the RBI with specific powers to cancel the Certificate of Registration of an NBFC.
- Gandhinagar Leasing and Finance Ltd. was registered in 1998, indicating it operated for approximately 28 years before this cancellation.
- The RBI periodically reviews the compliance of NBFCs, including financial health, governance, and adherence to regulatory norms.
- Cancellation of CoR is a severe regulatory action, often taken when an NBFC fails to meet statutory requirements or poses a risk to depositors/investors.
- The Ahmedabad office location places the entity within the jurisdiction of the RBI's Western Zone.
- External data indicates the company had no open roles and zero headcount, suggesting a prior decline in operations.
UPSC relevance, Prelims facts and Mains angle for this issue are in the full SWAदेSH note.
Original report: RBI - Press Releases