Asset management companies must keep comprehensive scheme books, follow IND AS, retain records eight years, and notify the Board. Asset management companies must maintain proper books of account, records and documents for each scheme to explain transactions (including inter scheme transactions), support valuations, maintain a complete audit trail, disclose each scheme's financial position, and present a true and fair view; notify the Board of the record location; prepare scheme financials under IND AS unless these regulations require otherwise; preserve records for at least eight years; and apply Eighth Schedule and Board specified accounting policies to report scheme wise asset disposition, performance, and income distribution or accumulation.