The Doon Educational Trust Society was registered under the Society Registration Act, 1860, on 14th May 1996. The Society submitted a proposal to the Uttar Pradesh Government for obtaining an NOC to start a new technical institute named the National Academy of Management. Additionally, it submitted a proposal to the All India Council for Technical Education (AICTE) for approval.
The Society received a No Objection Certificate (NOC) from the Undersecretary, Department of Technical Education, UP Government on 12th January 1998, and a Letter of Intent from AICTE, New Delhi on 12th February 1998. After a successful inspection by the AICTE Committee on 6th June 1998, the Society received an approval letter from AICTE to start a new management college under the name of the National Academy of Management, with an annual intake of 60 students, on 17th June 1998.
Having met all the criteria for affiliation, the institute received affiliation from Deen Dayal Upadhyay Gorakhpur University, Gorakhpur, UP in the year 2000. After the formation of the Uttar Pradesh Technical University (UPTU), the affiliation was transferred from DDU Gorakhpur University to UPTU. Subsequently, on 9th November 2000, when the state was divided and Uttarakhand was formed, the institute's affiliation was shifted from UPTU to HNB Garhwal University, Uttarakhand.
In 2000, as per the direction of AICTE, the name of the college was changed from the National Academy of Management to Nimbus Academy of Management since the use of the words "National" or "Indian" was prohibited for private colleges. The foundation stone-laying ceremony for the academic block of the institute was conducted by the Science and Technical Minister of UP, Shri Harisharan Tiwari, and the Urban Development Minister of Uttaranchal, Shri Nav Prabhay, on 10th August 2004.
In April 2006, the institute was shifted from General Arora Hall, Clement Town, Dehradun to its own campus in Jhajra, Chakrata Road, Dehradun. In the same year, after the formation of the Technical University in Uttarakhand, the affiliation was transferred from HNB Garhwal University to Uttarakhand Technical University.