Introduction

The registration of a Nidhi Company in India is a structured legal process governed by the Companies Act, 2013, and the Nidhi Rules, 2014. A Nidhi Company must be incorporated as a public limited company with specific objectives focused on promoting savings and providing loans to its members on the principles of mutual benefit. To ensure legal compliance, financial accountability, and organizational transparency, the promoters of a Nidhi Company are required to submit a comprehensive set of documents during the registration process. These documents serve as proof of identity, intent, and structural integrity. This detailed explanation outlines all the essential documents required for the incorporation of a Nidhi Company in India.

Identity Proof of Directors and Subscribers

All directors and initial subscribers to the Memorandum of Association must provide valid identity proof. Acceptable documents include:

Permanent Account Number (PAN) card for Indian nationals. Passport for foreign nationals
Voter ID, driving license, or Aadhaar card as additional supporting identity documents. The PAN card is mandatory for Indian directors and subscribers and is used for verification by the Ministry of Corporate Affairs (MCA).

Address Proof of Directors and Subscribers

To validate the residential status of directors and shareholders, address proof must be provided. Acceptable documents include: Passport, Aadhaar card, Voter ID, Bank statement not older than two months. Utility bills such as electricity, water, or gas, not older than two months. The address proof must be legible and match the name on the identity proof for verification purposes.

Photographs and Signatures

Each director and subscriber is required to provide recent passport-size photographs. These images are used in digital records and physical documentation. Along with photographs, digital signatures must also be acquired through a Certifying Authority. Digital Signature Certificates (DSC) are essential for signing online forms submitted to the MCA portal.

Proof of Registered Office Address

The company must provide documentary evidence of the registered office address where official communication and documentation can be sent. The following documents are required:

Utility bill (electricity, water, or gas) not older than two months in the name of the premises owner. No Objection Certificate (NOC) from the owner if the premises are rented
Rent agreement or lease deed, if applicable, Property tax receipt or sale deed if the office is owned. The registered office must be located in India and mentioned in the incorporation application.

Memorandum of Association (MOA)

The Memorandum of Association is a foundational document that defines the scope, purpose, and powers of the company. For a Nidhi Company, the MOA must include a specific clause that states the company’s objective of promoting thrift and mutual benefit among its members. The MOA must be signed by all subscribers in the presence of a witness and submitted in electronic format through SPICe+ MOA.

Articles of Association (AOA)

The Articles of Association outline the internal rules, governance structure, and operating procedures of the company. For Nidhi Companies, the AOA must include clauses related to: Membership eligibility, Deposit and loan policies, Restrictions on financial activities, Board meeting procedures, Voting rights of members. The AOA must be submitted using the SPICe+ AOA form and digitally signed by all subscribers.

Declaration by Directors and Subscribers (Form INC-9)

Each subscriber and first director must submit Form INC-9, declaring that they are not convicted of any offense about company formation and have not been found guilty of fraud or financial misconduct. This declaration must be signed digitally and is auto-generated during the incorporation process based on the information provided in the SPICe+ form.

Consent to Act as Director (Form DIR-2)

Each proposed director must give written consent to act as a director of the company using Form DIR-2. This form includes personal details, residential address, and a declaration that the individual is not disqualified from becoming a director under the Companies Act. It must be signed and attached to the SPICe+ application.

Director Identification Number (DIN)

If the directors do not already possess a DIN, it can be applied for through the SPICe+ form. The DIN is a unique identification number required for all directors of Indian companies. If the director already has a DIN, it must be quoted and verified during the registration process.

Professional Certification

All incorporation documents must be certified by a practicing professional such as a chartered accountant, company secretary, or cost accountant. The professional must digitally sign the forms and provide their membership number, firm registration number, and contact details. The certification serves as legal verification of the authenticity and completeness of the documents submitted.

Conclusion

The documentation required for registering a Nidhi Company is comprehensive, covering personal identification, address verification, organizational structure, legal declarations, and professional validation. Each document serves a specific regulatory purpose, ensuring that the company is formed with legal clarity, financial responsibility, and organizational integrity. Adherence to these documentation requirements is essential not only for successful incorporation but also for long-term compliance and governance. A complete and accurate submission of all necessary documents paves the way for a legally sound and operationally efficient Nidhi Company that can fulfill its objective of financial inclusion and mutual benefit.

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