The Income Tax (I-T) Department's Foreign Asset Investigation Unit (FAIU) has reportedly sent notices to local companies, including some listed entities enquiring about the hidden assets overseas. The bid to hunt for black money by FAIU was earlier limited only to individuals but has now expanded to companies, a report by the Economic Times (ET) said. The intelligence unit has sent notices to at least eight Mumbai firms and asked for information on their directors. Earlier, FAIU's enquiries were limited to residents' hidden assets, including their bank accounts and shareholding in foreign firms and trusts.
