About Gujarat Lease Financing Limited (GLFL)

Gujarat Lease Financing Limited (GLFL) is an Ahmedabad-based company that was earlier registered as a Non-Banking Finance Company (NBFC). The company ceased business operations in FY 1999–2000 owing to financial stress and negative net worth. On June 23, 2016, the Board decided to voluntarily surrender the NBFC Certificate of Registration (CoR), and the Reserve Bank of India (RBI) subsequently cancelled the CoR with effect from March 8, 2017 (RBI letter dated March 22, 2017).

At present, GLFL does not engage in manufacturing or financial services. Its revenue arises solely from other income, primarily interest on fixed deposits and investments with banks.

The company operates from its Registered Office at 6th Floor, Hasubhai Chambers, Opp. Town Hall, Ellisbridge, Ahmedabad – 380006, Gujarat. Its equity shares are listed on both the BSE (Security Code: 500174) and NSE (Symbol: GLFL), with 90.25% of total shares dematerialised as on March 31, 2025 (ISIN: INE540A01017). GLFL operates only from this single office and has no manufacturing facilities.

The company reported no Subsidiary, Joint Venture, or Associate Company during FY 2024–25 and employed three personnel as of March 31, 2025.

Key Milestones

• Cessation of business operations since FY 1999–2000.
• Voluntary surrender of NBFC CoR by Board resolution dated June 23, 2016; CoR cancelled by RBI with effect from March 8, 2017.
• Continued listing and liquidity of shares on BSE and NSE, with 90.25% shares dematerialised as of March 31, 2025.

Gujarat Lease Financing Limited Key Management

• Anil Jhaveri – Chief Executive Officer
• Janak Mehta – Chief Financial Officer
• Meera Gudka – Company Secretary (appointed w.e.f. February 17, 2025)

Latest Updates on Gujarat Lease Financing Limited

• Independent Director re-appointment: The Board recommended the re-appointment of Mr. Animesh Mehta as an Independent Director for a second and final term of five years (July 13, 2025 – July 12, 2030), subject to shareholder approval. The decision was made at the Board meeting held on May 6, 2025, and forms part of the AGM notice’s explanatory statement.
• Secretarial Auditors appointment: The Board approved the appointment of M/s. RPAP & Co., Company Secretaries, as Secretarial Auditors for a five-year term (FY 2025–26 to FY 2029–30), with fees of Rs 40,000 plus applicable taxes and out-of-pocket expenses, subject to shareholder approval.
• Non-Going Concern status: For FY 2024–25, the company’s accounts were prepared on a Non-Going Concern Basis, as disclosed in the Directors’ Report.
• Corporate Governance compliance: The company received an Independent Auditors’ Certificate confirming compliance with Corporate Governance requirements for the year ended March 31, 2025.
• 42nd Annual General Meeting: Scheduled for Friday, July 11, 2025, at 12:30 PM IST, through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The Annual Report and AGM Notice were circulated electronically and made available on the company’s website.

Secretarial Audit findings: The Secretarial Audit Report for FY 2024–25 confirmed compliance with applicable provisions, with no major actions or events bearing significant impact on the company’s affairs during the audit period.