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<h1>Recordkeeping obligations require asset management companies to maintain scheme-wise books under IND AS and specified accounting policies.</h1> Regulation 50 requires asset management companies to keep and maintain proper books of account and records for each scheme to explain transactions, disclose the financial position and give a true and fair view, and to intimate the Board of the place of maintenance. Financial statements must be prepared in accordance with Indian Accounting Standards (IND AS) subject to a rule that regulatory requirements prevail in any conflict, and accounting policies specified in the Ninth Schedule and by the Board must be followed to provide scheme-wise asset disposition and performance disclosure.