NIA seizes fake currency notes from four people in city

National Investigation Agency (NIA) sleuths busted a counterfeit currency racket and intercepted four people, including a woman, and recovered Fake Indian Currency Notes (FICN) worth Rs 7 lakh.

Acting on credible information that a deal in FICN is likely to take place, a team of NIA sleuths from Mumbai rushed to the city and raided a house in BDA Layout in Alur, on the outskirts of Bengaluru, jointly with the local police.

They intercepted three people — M G Raju from Vijayapur in Devanahalli; Gangadhar Kolkar from Mudhol in Bagalkot; and Sajjad Ali from Malda in West Bengal. The three suspects had 217 notes of Rs 2,000 denomination, valued at Rs 4.34 lakh, said an NIA release.

In follow-up searches on Wednesday, NIA sleuths seized FICNs valued at Rs 2.75 lakh from a woman residing in Bengaluru's Srirampura.

The seized notes — suspected to have been smuggled from across the border — are similar to the genuine currency bills and would be difficult for a common citizen to distinguish the two.

The Madanayakanahalli and Srirampura police have registered separate cases, booking the accused under IPC Sections 34, 120B (criminal conspiracy), 489B (using as genuine, forged or counterfeit currency-notes or bank-notes) and 489C (possession of forged or counterfeit currency-notes or bank-notes). Further investigations are under way.