Investigators probe whether bogus notes entered circulation through the formal banking system after the counterfeit currency haul in Uttar Pradesh
Imran Ahmed Siddiqui Published 23.10.26, 07:47 AM
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The National Investigation Agency (NIA) has arrested two alleged key conspirators in a counterfeit currency racket crackdown involving the recovery of bogus notes with a face value of ₹17.29 crore from a Punjab National Bank (PNB) currency chest in Uttar Pradesh's Saharanpur, sources said on Thursday.
The probe into one of the biggest counterfeit-currency discoveries in Uttar Pradesh has raised several unanswered questions, with investigators now examining whether fake notes found inside a bank currency chest were part of a larger network operating through the formal banking system.
The agency has arrested Ajay Kumar from Ambala in Haryana and Harish Rounta from Manali in Himachal Pradesh.
"The two accused are the main conspirators in illegally printing and supplying a huge quantity of fake Indian currency notes which, through various other accused, reached the currency chest of PNB, Saharanpur," the agency said in a statement on Thursday.
A currency chest is a facility operated by banks to store cash on behalf of the Reserve Bank of India (RBI) for distribution to bank branches and ATMs.
They are also close associates of Adesh Choudhary and other accused persons earlier arrested in connection with the conspiracy relating to the placement of counterfeit Indian currency notes in the Punjab National Bank Currency Chest, Civil Lines, Saharanpur, the agency said.
The case came to light on August 29, when Saharanpur police received information about the recovery of the fake notes, the NIA said.
A case was initially registered in Saharanpur on August 29 under Section 178 of the Bharatiya Nyaya Sanhita against three accused persons.
The NIA re-registered the case on September 3 and took over the investigation.
In September, the agency arrested five persons in connection with the case. These include Amit Kumar, named in the FIR, key accused Adesh Choudhary, Mukesh Kumar, Rajender and Nitu.
Sources said one of the key unanswered questions was the extent to which the suspected fake currency may already have entered circulation.
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