Kathmandu: Five Indians have been arrested for the two-day Dubai Property Show at Soaltee Hotel.

After reaching the hotel, the police seized their passports and arrested them on suspicion of absconding.

Contrary to the warning of Nepal Rastra Bank, Dubai’s real estate company named ‘DAMAC’ illegally organized the Dubai Property Show in Kathmandu.

The police have arrested Indian citizens Gurucharan Singh Mehta, Anubhav Verma, Harsh Sharma, Aftab Hamaj and Kajal Ravi Aggarwal.

Sources said that permission was not obtained from the district administration office to hold the program. Nepal government has also ban Nepali citizens to invest abroad.

Any Nepali citizen residing in Nepal is completely prohibited from purchasing real estate, securities, property abroad and making deposits in foreign banks and financial institutions.

Further investigation over this issue underway.