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Compliance to the Indian Companies Act that requires backup of Indian financial records in India

Shehan WNov 22 2022 — edited Nov 22 2022

Hi everyone,
I would appreciate any advice as to how companies that have operations in India and their Fusion ERP SaaS data center is not in India is complying to the Indian Companies Act of 2014 (and the new amendments). The act's rule 3(5) states "There shall be a proper system for storage, retrieval, display or printout of the electronic records as the Audit Committee, if any, or the Board may deem appropriate and such records shall not be disposed of or rendered unusable, unless permitted by law: Provided that the back-up of the books of account and other books and papers of the company maintained in electronic mode, including at a place outside India, if any, shall be kept in servers physically located in India on a daily basis."
We have reached out to Oracle for assistance in complying to this regulation, but wondering what approaches are being adopted in the event Oracle cannot provide backups physcially in India.

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Added on Nov 22 2022
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