Fake currency racket: Surat-based accused remanded to six days’ custody

The Detection of Crime Branch (DCB) of the Ahmedabad Police has arrested a Surat-based man in connection with the ₹2.38 crore counterfeit currency case, with officials describing him as a key conspirator in a racket that allegedly spans multiple cities in Gujarat.

The accused, identified as Bhavesh Vallabh Gajera, was apprehended from Surat and produced before a local court, which granted the police six days’ remand for custodial interrogation.

According to investigators, Gajera had been actively associated with the racket since November 2025 and played a crucial role in arranging buyers and facilitating the circulation of counterfeit currency. He is suspected of having coordinated distribution channels in Surat while maintaining operational links with associates in Ahmedabad.

Crime Branch officials said Gajera had allegedly met an Ahmedabad-based operative, who is currently absconding, and assured him of supplying fake currency worth ₹20 lakh in return for a 40 per cent commission. Police believe the meeting, held in Ahmedabad in February, may have led to the circulation of an earlier consignment of counterfeit notes in the city.

“He appears to be a key link between the suppliers and local distributors. His interrogation is expected to yield critical leads about the network,” a senior Crime Branch officer said.

Investigators further revealed that Gajera had visited the premises of the Satyam Yug Foundation in Surat along with a friend, ostensibly for medical treatment of the friend’s wife. Officials suspect the visit may have been used to establish contacts and facilitate the illegal operation.

Sources in the Crime Branch estimate that counterfeit currency worth around ₹20 lakh had already been circulated across Surat and Ahmedabad before the recent crackdown. The consignment seized in the present case is believed to have been part of a second, larger delivery intended for further distribution.

Police have also sought details from the Customs Department regarding suspicious parcels, amid emerging indications that the counterfeit notes may have been sourced from China — a lead that has surfaced for the first time during the investigation.

Background of the case

The arrest is part of a larger probe into a high-value fake currency racket in which notes worth ₹2.38 crore were seized earlier by the Crime Branch. In the initial phase of the operation, seven accused, including Mukesh Thummar, Ashok Mavani, Ramesh Bhalar, Divyesh Rana, Yogguru Pradip Jotangiya and Bharat Kakadiya, along with a woman, were arrested.

They were produced before the Gheekanta Metropolitan Court, which granted the police 10 days’ remand, allowing investigators to probe the wider distribution network and identify intended recipients of the counterfeit notes.

During the operation, police seized fake currency, mobile phones, a car, and cash collectively valued at approximately ₹26.20 lakh.

Officials now suspect that the racket may have interstate links, with Surat emerging as a key hub for circulation and Ahmedabad acting as a major distribution centre.

With Gajera’s arrest, investigators hope to uncover the full extent of the conspiracy, identify additional accused, and trace the movement and recovery of counterfeit currency already in circulation.