Kathmandu, Oct 2 (PTI) Three persons, including two Indian nationals, were arrested from Birgunj Metropolitan City in southern Nepal on Friday for alleged involvement in running illegal Hundi transactions and evading tax, police said.

The arrested were identified as Mukesh Patel (29), a resident of Motihari Thana, and Bikram Patel (25), a resident of East Champaran Thana Kangeli Basatpur, according to Nepal Police headquarters news bulletin.

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A police team conducted a raid after receiving a tip-off that an illegal Hundi transaction was being conducted at Chhapkaia-Sirsiya along the Nepal–India border. While conducting checks on the trio, police recovered undisclosed Nepalese currency notes to the tune of Rs 1.5 million hidden inside the helmet of one of the accused.

Hundi is a financial instrument used in trade and credit transactions. They are used as a form of remittance instrument to transfer money from one place to another as a form of credit instrument.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)