Investigative companies are actually turning their consideration to firms because the seek for black cash stashed abroad continues.

Notices have been despatched to native firms and a few listed, as per an Economic Times report. 

Earlier enquiries carried out by the Foreign Asset Investigation Unit (FAIU), a wing of the Income Tax (I-T), a wing of the Income Tax, centered on the undisclosed property held overseas by Indians and black cash stashed overseas.

The report added that particulars about undisclosed property of promoters and their kin and aides, obtained from knowledge leaks or particulars shared by different jurisdictions, have been the idea for invocation of the I-T Act and the Black Money Act.

About eight firms in Mumbai have obtained notices from FAIU Delhi.

FAIU Delhi has requested a number of the firms to share particulars like their “association with any foreign entity”, particulars of all financial institution accounts, and knowledge on administrators.