The Navi Mumbai police have arrested two, hailing from neighbouring Gujarat, and seized fake Indian currency notes with a face value of around ₹50,00,000 from their possession, officials said today. 

Senior police inspector Rajeev Shejval of Kharghar police station informed the news agency that both the accused shall be produced before a magistrate court later today for remand, and further investigations are underway.

Following a tip-off, a team of Kharghar police station kept a close watch on the duo from Bhuj town in Kutch district and caught them late on Aug 24 night.

A search of the accused revealed cash of over ₹1 lakh of genuine currency and more than 9,980 fake currency notes of ₹500 denomination.

Though appearing to be similar to the real currency notes, the fake notes had no serial numbers and were printed with ‘Children Bank of India’, and had a total face value of nearly ₹49.90 lakh, confirming the fraud.

The police suspect that the duo- identified as Usman D. Saha, 40 and Abdul H. Turk, 41 - planned to circulate them in the markets to dupe unsuspecting people.

The accused Saha and Turk have been charged under various Indian Penal Code (IPC) sections, and the sleuths are probing on to find out where the fake notes were printed or acquired from, identify their associates and nexus in Gujarat and Maharashtra and since how long the counterfeit currency racket is being perpetrated.

(Source: IANS)

-Edited for style

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