1. First obtain a Digital Signature Certificate (“DSC”): One can apply online and obtain a DSC from agencies certified by the government. It usually takes a couple of days and cost depends on the agency through which one obtains it.
2. Applying for a Director Identification Number (“DIN”): A DIN is required for a person to be a director in a company.
- Filing of a form by all subscribers to the Memorandum of Association.
- Filing of a form by all directors along with a declaration as per rules 5 & 6 given in Nidhi Rules 2014. These are to be signed by subscribers as well.
In particular, there should be only one object in MOA of the company: “cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit.”