A step-by-step process for forming a NIDHI company Under the NIDHI Rules of 2014, you must first incorporate your business as a public limited company before applying for a NIDHI Company license within the allotted time.
The following is a step-by-step description of the Nidhi Company registration process.
Steps for Nidhi Company Formations:-
STEP 1: Legal Documentation
Documentation To apply for the NIDHI Company Registration, you must submit a set of required legal documents.
A point by point rundown of each and every one of these records has been given beneath.Before beginning the NIDHI company registration process, you must ensure that you have all required documents, and if you do not, you must arrange for the missing documents as soon as possible.
Step 2: Name Search for Nidhi Company
Choosing a name The name of a NIDHI Limited Company needs to be unique and accurately convey its brand and business goal.
The Companies Act, the Company (Incorporation) Rules, the Trademark Act, and the Names and Emblems all stipulate a set of requirements for naming a NIDHI company.
A NIDHI Company’s name cannot be identical to, or similar to, the name of an LLP, an applied trademark, or a registered trademark. For more information, see our article on the requirements for name approval.
Step 3: Approve Name for Nidhi Business
Name Approval Once you have selected a legitimate name for the NIDHI business, you must reserve it with the Registrar of Companies to prevent other businesses from using or stealing it.
Utilizing our name approval and reservation services is all that is required. Following our evaluation of the names you have suggested for eligibility, we will submit an application to reserve them in either the RUN (Reserve Unique Name) or PART A of the SPICE+ application.
Step 4: Submitting a e-Nidhi Application
Submitting an Application for Incorporation Once the name of a Nidhi Limited Company has been approved, incorporation can begin. The online Gov portal application can be found on the MCA’s official website and must be completed in order to apply for a NIDHI company.
Part A of the application is for the name reservation, and Part B is for the NIDHI company incorporation. Any director of the company can complete the application, sign it, and send it to the ROC along with the required set of documents.
STEP 5: Collecting the Nidhi Certification
Issuance of the Certificate of Incorporation After receiving the application for incorporation of the NIDHI Company, the ROC verifies all of the information and documents provided in it.
Solely after the ROC is happy with the realness of such subtleties and reports, he will enroll the NIDHI Restricted Organization, and issue a Testament of Joining to the NIDHI organization as a convincing evidence of its enlistment.
The NIDHI company’s unique identity is also given a Corporate Identification Number by the ROC.
Step 6: Built a Nidhi Company License Online
Obtain a NIDHI Company License After incorporation, a company must meet a number of requirements outlined in the Companies Act of 2013 regarding its number of members, net funds, term deposits, and other factors before submitting an application for a Nidhi Company License. The full list of such conditions can be found here.
Within four months of the NIDHI Limited Company’s incorporation, or within any extension period permitted by the Regional Director, the application must be submitted to the Central Government on form 4.
In the wake of being fulfilled that the NIDHI organization has satisfied every one of the recommended conditions, the Public authority will give it the NIDHI Organization permit to NIDHI organization and advise a similar in the authority periodical.