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October 7, 2026 · Guides

Nidhi Company Incorporation: Name, MOA and AOA Clauses

Nidhi company incorporation is decided largely by three documents: the name you pick, the memorandum (MOA) and the articles (AOA). Get them wrong and the Nidhi Rules will either reject the filing or box you in later, so it pays to draft them with the rules open.

In this guide

The name must end with Nidhi Limited

Rule 4 requires a Nidhi to be a public company whose name ends with the words “Nidhi Limited”. So “Sri Lakshmi Mutual Benefit Nidhi Limited” works in form, while “Sri Lakshmi Finance Limited” does not. Propose a few options in order of preference, because the Registrar will refuse names that are too close to an existing company or trademark. Avoid words that suggest a bank.

That last point matters. A Nidhi is not a bank, and a name that sounds like one invites a query. See Nidhi limited company: members, directors and structure for how the public company form shapes the rest of your setup.

The MOA: one object only

The main object of a Nidhi is cultivating the habit of thrift and savings among its members, and receiving deposits from and lending to members only, for their mutual benefit. That is the object, and it should be the only one. Do not copy a long object list from a private limited company template.

The MOA should not carry powers that the Rules prohibit. Under Rule 6 a Nidhi cannot run chit funds, hire purchase, leasing or insurance business, buy securities or debentures, or lend to bodies corporate. Leaving those out of the MOA saves an objection from the Registrar and a headache at NDH-4.

The AOA: where the member rules live

The articles are your internal rulebook, and a Nidhi’s articles should reflect the Rules rather than a generic public company model. Points to cover:

  • Equity shares only; no preference shares
  • Deposits and loans accepted from and given to members only
  • No transfer of more than 50% of a member’s shareholding while a loan or deposit with the Nidhi is outstanding
  • Dividend limits (commonly stated as 25% of paid-up capital in a financial year; confirm with your CA)
  • No advertising to solicit deposits and no brokerage on deposits
  • Admission of members, voting and director appointment procedures

How the documents are filed

On the MCA V3 portal, incorporation is filed with SPICe+ (INC-32), the e-MOA is INC-33 and the e-AOA is INC-34. PAN and TAN are applied through the same form. Our note on e-MOA and e-AOA explains how the electronic forms work, and the registration process guide shows where they sit in the sequence.

FormPurpose
INC-32 (SPICe+)Incorporation application, with PAN and TAN
INC-33 (e-MOA)Memorandum of association
INC-34 (e-AOA)Articles of association

What to have ready

You need at least 7 subscribers and at least 3 directors, each with DIN and a digital signature, plus identity and address proof for each person. A registered office also needs proof, and our list in documents required for Nidhi company registration spells out the details. Incorporation is only the first stage. The declaration on NDH-4 still has to follow within 120 days, so keep the structure of the Nidhi registration service in mind when you decide on capital and members.

Need help with your Nidhi company? See our Nidhi company registration service, call +91 93117 95484, or write to mail@taxhint.in.

FAQs

What should the name of a Nidhi company be?

It must end with the words “Nidhi Limited” as required by Rule 4. Keep a few alternatives ready in case your first choice is refused.

Can the MOA of a Nidhi include other business objects?

Better not. The object should be limited to cultivating thrift and savings among members through deposits and loans to members, and it should leave out anything Rule 6 prohibits.

Which forms are used to incorporate a Nidhi?

SPICe+ (INC-32), with the e-MOA (INC-33) and the e-AOA (INC-34), on the MCA V3 portal. PAN and TAN are applied through the same filing.

Do the articles need special clauses for a Nidhi?

Yes, they should reflect the Rules: equity shares only, member-only dealings, the 50% share transfer restriction and dividend limits. Have your CA check the draft against the current Rules.

More in this Nidhi series