Blog

Govt amends rules pertaining to account books maintenance by companies

The government has amended the rules pertaining to maintaining books of accounts by companies, with experts saying the changes will provide for enhanced scrutiny of the accounts by the authorities concerned.

Earlier this month, Corporate Affairs Ministry, which is implementing the Companies Law, notified the Companies (Accounts) Fourth Amendment Rules, 2022.

The changes relate to the manner in which books of accounts are to be kept in electronic form.

Now, companies have to ensure that books of accounts and other relevant books and papers maintained in electronic mode remain accessible in India at all times.

Also, the backup of the books of accounts and other books and papers of the company maintained in electronic mode should be compulsorily kept in servers physically located in India on a “daily basis”.

Earlier, the requirement was only on a “periodic basis”.

SUN Mobility partners with EVeez to deploy over 10K electric 2Ws

Electric vehicle energy infrastructure firm Sun Mobility has partnered with EVeez to deploy over 10,000 vehicles across the country in the coming year.

For this deployment, EVeez will leverage SUN Mobility’s state-of-the-art battery-swap solution-based mobility-as-a-service offering.

This offering is integrated with electric vehicles and smart batteries, along with providing access to a wide network of SWAP POINTS. As a part of this plan, ~200 vehicles will be added to EVeez’s on-ground fleet every month.

As of today, around 250 vehicles have already been deployed in Delhi-NCR. Starting September, the operations will further expand to Bengaluru, Hyderabad, Mumbai, Pune, and Chandigarh Tricity.

Founded by Gaurav Rathore and Abhishek Dwivedi, EVeez provides electric vehicles on subscription for commute, delivery services, and in-campus mobility.

Cashfree Payments partners with PharmEasy

Payments and API banking solutions company Cashfree Payments has entered into a partnership with digital healthcare platform PharmEasy to facilitate quick and convenient payment settlements to its retail partners.

This partnership will leverage Cashfree Payments’ Payouts solution to automate transactions for the retail network.

With Cashfree Payments’ ‘Payouts’ API integration, PharmEasy said it can now automate this process and facilitate settlement to retail partners within 48 hours of payments received from customers, without any manual intervention.

Cashfree Payments has also helped PharmEasy in tracking and processing bounced or failed Payouts transactions.

(With inputs from PTI. This story will be updated with the latest news throughout the day.)