The Kathmandu District Court has remanded businessman Deepak Bhatta in custody for 10 days.
Following his arrest on charges of money laundering, Bhatta was presented before the court on Thursday.
Information Officer of the district court, Deepak Kumar Shrestha, confirmed that the court granted permission to keep him in custody for 10 days for further investigation.
The Central Investigation Bureau (CIB) of Nepal Police arrested Bhatta from the Naxal area of Kathmandu on Thursday afternoon.
He is accused of laundering assets by concealing the source of illegally earned money, deceiving authorities, and transforming assets.
Prior to his arrest, the authorities had already frozen his passport to prevent him from leaving the country.