Dubhashi, who has been with the company since April 2007, will also be a whole-time director on the board, the company said in a statement.
Dubhashi has been in the industry for a quarter of a century with experience across multiple domains such as corporate banking, cash management, credit ratings, retail and rural lending.
Prior to taking over as managing director & chief executive of L&T Finance, Dubhashi held many senior level positions in the organisation and has been leading its foray into retail finance including microfinance.
Before joining L&T Finance he was associated with BNP Paribas, Care Rating and SBI Caps.