The actress, who was scheduled to appear on the red carpet on May 18, cited personal reasons for cancelling the event.
A source for The Times of India confirmed: "Rani won't be going to Cannes anymore. Her dad is unwell and she doesn't want to leave him at this point."
As previously reported, the No One Killed Jessica star had been expected to attend wearing Sabyasachi.
The Bengali star was also expected to travel to the event in the company of the Indian fashion designer.
Bollywood projects Ra.One, Rana and Ready will be showcased at this year's festival.
