By A Staff Reporter
Kathmandu, Nov. 8
Police on Friday morning detained three Indian nationals (Hundi traders) for possessing cash Rs. 1.8 million, whose source they could not show.
According to a news bulletin of Nepal Police Headquarters, the racketeers were coming to Nepal from Raxaul, the Indian border, carrying the money.
Police have their claim that they were identified as Hundi traders.
According to the bulletin, they were arrested from Rajatjayanti Chowk of Birgunj Metropolitan City-16 in Parsa district during a police checking.
The arrestees were identified as Sudhir Kumar, Shahid Alam and Bikki Kumar. According to the police, the racketeers entered Nepal riding three motorcycles.
Hundi transaction is an informal system of remittance that is illegal as the money exchange takes place outside the banking channels.
Anyone found involved in such transactions is liable to punishment.
According to the Foreign Exchange Regulation Act, anyone involved in such transaction would forfeit the money and could be fined up to three-fold the amount illegally transferred, in addition to a jail term not exceeding three years.
Do not make expressions casting dout on election: EC
14 Apr, 2022CM Bhatta says may New Year 2079 BS inspire positive thinking
14 Apr, 2022Three new cases, 44 recoveries in 24 hours
14 Apr, 2022689 climbers of 84 teams so far acquire permits for climbing various peaks this spring season
14 Apr, 2022How the rising cost of living crisis is impacting Nepal
14 Apr, 2022US military confirms an interstellar meteor collided with Earth
14 Apr, 2022Valneva Covid vaccine approved for use in UK
14 Apr, 2022Chair Prachanda highlights need of unity among Maoist, Communist forces
14 Apr, 2022Ranbir Kapoor and Alia Bhatt: Bollywood toasts star couple on wedding
14 Apr, 2022President Bhandari confers decorations (Photo Feature)
14 Apr, 2022