The case pertains to the seizure of high-quality fake Indian currency notes (FICN) valued at Rs 5.94 lakh from Afroz Ansari on September 19, 2015, a spokesperson of the NIA said.
Hyderabad: A case has been registered against Laxminarayana and Pranay Kumar at the Allapur police station, and the duo has been remanded in custody as investigations continue.
The case was initially investigated by the Directorate of Revenue Intelligence (DRI), which apprehended Munna Singh in 2015.
The seized notes were in the denomination of Rs 500. The accused told the police that they "sold" their counterfeit notes, charging Rs two lakh for fake currency notes with a face value of Rs five lakh.
Years after demonetisation, a fake currency racket was busted in Manipur. Watch India TV's ground report on the same.
Last year, another bank had lodged an FIR stating that demonetized currency worth Rs 1.5 crore was found in the bank's chest.
Pratik Chodwadia, one of the accused was arrested from a farmhouse near Kamrej on Saturday. The police recovered 203 fake notes of Rs 2,000 denomination from him. During his interrogation, he revealed the names of four others.
On Saturday at about 5.30 p.m., during a routine patrol at the Kashmere Gate metro station, CISF Quick Reaction Team Sub-Inspector Birender Kumar noticed an unattended bag lying near gate No-8.
Acting on a tip-off, officers raided Sahabajpur village under Kaliachak police station limits on Sunday night and nabbed 36-year-old Rafiqul Momin, district Superintendent of Police Alok Rajoria said.
The accused has been identified as Rohit alias Raman, a resident of Hisar's Barah Mohalla area, he said.
The police had found that during the investigation, fake currency was being pumped into India through Bangladesh and Nepal and later circulated across the nation through Malda district in West Bengal.
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The DRI statement added that 211 pieces of fake India currency notes (FICN) of Rs 2,000 denomination were recovered from Ram Prasad who was arrested from Old Delhi Railway station.
While 11 of the thirteen frontiers used to smuggle fake currency manufactured in Pakistan and Bangladesh have witnessed a lull in seizure of fake notes, two frontiers in Assam and West Bengal have seen a spike since January 2017
Fake currency notes with a face value of Rs 22,000 were seized from the residence of the accused.
A government report has said that reportage of suspicious transactions, fake currency notes and cross-border fund transfers in the country's economic channels doubled in the last fiscal year, leading to unearthing of over Rs 560 crore black money.
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