How to Register Nidhi Bank with the Ministry of Corporate Affairs
If you’re interested in starting a Nidhi Bank in India, one of the key steps in the process is registering your company with the Ministry of Corporate Affairs (MCA). Here is a detailed guide to help you understand how to register your Nidhi Bank with the MCA.
Step 1: Incorporation of the Company
Before registering your Nidhi Bank with the MCA, you need to incorporate your company under the Companies Act, 2013. The company should be registered as a public limited company, and the word “Nidhi Limited” should be included in its name.
Step 2: Obtain Digital Signature Certificate (DSC) and Director Identification Number (DIN)
To register your Nidhi Bank with the MCA, you need to obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN) for all the directors of your company. The DSC is an electronic form of signature, while the DIN is a unique identification number assigned to directors.
Step 3: Apply for Name Approval
After obtaining the DSC and DIN, you can apply for name approval for your Nidhi Bank with the MCA. The name should include the words “Nidhi Limited” and should not be similar to any other registered company. The application should be submitted through the MCA’s website, along with the necessary documents such as the proposed company’s memorandum and articles of association.
Step 4: Drafting and Filing of Memorandum and Articles of Association
Once the name is approved, you need to draft and file the memorandum and articles of association of your Nidhi Bank with the MCA. The memorandum should include details such as the name of the company, its objectives, and its authorized share capital. The articles of association should include details such as the rights and responsibilities of the shareholders, the management structure of the company, and other important provisions.
Step 5: Filing of Forms with the MCA
After drafting the memorandum and articles of association, you need to file various forms with the MCA. These include Form INC-7 (for incorporation of the company), Form DIR-12 (for appointment of directors), and Form INC-22 (for address proof of the registered office).
Step 6: Payment of Fees and Obtaining Certificate of Incorporation
After filing the necessary forms and documents, you need to pay the required fees to the MCA. Once the payment is made, the MCA will verify the documents and issue a Certificate of Incorporation for your Nidhi Bank.
In conclusion, registering your Nidhi Bank with the MCA is a crucial step in the process of starting a Nidhi Bank in India. By following the above steps, you can ensure that your Nidhi Bank is registered with the MCA in a timely and efficient manner.