First of all, the partners have to apply for Digital signature and DPIN for Nidhi company. Digital signature is an online signature used of filing and DPIN refer to Directors PIN number issued by MCA. If the directors already have DSC and DPIN, then this step can be skipped.
You have to provide 3 different name options for Nidhi company to MCA of which one will be selected. Names provided should ideally be unique and suggestive of company business.
Once the name is approved, one needs to draft Memorandum of association and Articles of Associate. But the object of the Nidhi company must always be a charitable object. Both MOA and AOA are filed with the MCA with the subscription statement.
It typically takes 15- 25 days to form a Nidhi company and get the incorporation certificate. Incorporation certification is a proof that company has been creation. It also includes your CIN number.
Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with bank to open your bank account.