1. Preliminary Preparation and Digital Documentation

• Identify a minimum of 7 members and 3 directors to form the Nidhi Company.
  
• Obtain Digital Signature Certificates (DSC) for all proposed directors.
  
• Apply for a Director Identification Number (DIN) through the SPICe+ form.
  
• Prepare essential documents including identity proof, address proof, and photographs.
  
• Ensure compliance with naming guidelines for including “Nidhi Limited” in the company name.
  

2. Name Reservation through MCA Portal

• File the SPICe+ Part A form on the MCA portal for name reservation.
  
• Propose a unique and compliant name that includes “Nidhi Limited.”
  
• The name must not be identical to any existing registered company or trademark.
  
• Once approved, the name is reserved for 20 days for completing incorporation.
  
• If rejected, the applicant can resubmit with modifications.
  

3. Filing of Incorporation Forms and Attachments

• Fill SPICe+ Part B form for company incorporation along with linked forms AGILE-PRO, e-MOA, and e-AOA.
  
• Attach necessary documents, including subscriber and director declarations, address proof, and identity documents.
  
• Submit forms digitally signed by the DSC of directors and a professional certification (CA, CS, or CMA).
  
• Pay government fees based on authorized capital.
  
• After scrutiny, the Registrar of Companies issues the Certificate of Incorporation.
  

4. Post-Incorporation Activities and Bank Account Opening

• Apply for PAN and TAN, which are auto-generated during incorporation.
  
• Open a current bank account in the name of the company.
  
• Deposit the initial capital as declared in the Memorandum of Association.
  
• Adopt company letterheads, stamps, statutory registers, and board resolutions.
  
• Prepare for operational setup, including member enrollment and loan policy.
  

5. Statutory Compliance and Nidhi Declaration

• File NDH-1 within 90 days from the date of incorporation, declaring the company as a Nidhi.
  
• Ensure that within one year, the company has at least 200 members and ₹10 lakh Net Owned Funds.
  
• Maintain 10% of total deposits as unencumbered term deposits in a scheduled bank.
  
• File half-yearly and annual returns (NDH-3, AOC-4, MGT-7) regularly.
  
• Comply with the Companies Act, 2013, and Nidhi Rules, 2014, to continue lawful operations.