Hyderabad (Telangana) [India], November 4 (ANI): The Abdullapurmet Police and Shadnagar Special Operations Team (SOT) have busted a counterfeit currency racket in Hyderabad, arresting four accused and seizing fake Rs 500 currency notes with a total face value of Rs 6.78 crore, Future City Commissioner of Police Tarun Joshi said.
According to the police, the accused were intercepted in a car near Ramoji Film City on National Highway 65 on November 1. The police said they arrested four persons identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy and Karanam Ajay Kumar.
During the operation, Telangana police seized counterfeit Rs 500 currency notes with a total face value of Rs 6.78 crore.
The racket was busted in a joint operation by Abdullapurmet Police and Shadnagar SOT.
Future City Commissioner of Police Tarun Joshi said that further investigation is underway to identify other persons involved in the racket.
Further details are awaited.
Last month, the National Investigation Agency (NIA) arrested two main conspirators in a case linked to illegally printing and supplying a huge quantity of fake Indian currency notes, which, through various other accused, reached the currency chest of Punjab National Bank (PNB) in Uttar Pradesh's Saharanpur.
One of the conspirators, Ajay Kumar, was arrested on October 16 from Ambala in Haryana, while another, namely Harish Rounta, was held on October 22 from Manali in Himachal Pradesh.
As per the agency, both the conspirators are also close associates of the arrested accused Adesh Choudhary and other arrested accused persons in this conspiracy relating to the placement of counterfeit Indian currency notes in the PNB's Civil Lines-based branch in Saharanpur in the case. (ANI)
Telangana: Police bust counterfeit currency racket, seize fake notes worth Rs 6.78 crore; 4 held
