With the arrest of three persons, including a woman, the Mohali Police on Thursday claimed to have busted a gang of three miscreants and seized fake currency notes of Rs 2,000 to the tune of Rs. 42 lakh.
Police have also impounded an Audi car with a red beacon from his possession.
However, two members of the gang are still at large, said police.
Police said the accused - Suman Nagpal, a property dealer, Abhinav Verma and his cousin Vishakha - were the mastermind, who had installed the equipment to print fake notes of Rs. 2000 as the people, as of now, are not much aware about the authenticity of the new notes.
Mohali Superintendent of Police Parminder Singh Bhandal said, "What they used to do was that they used to take old currency notes of Rs. 500 and Rs.1,000 and keep 30 percent of it for themselves and give the rest of it in terms of fake currency notes of Rs. 2,000."
Police said a case was registered against them and they were taken in one-day police remand.
Police will further appeal in the court for more remand.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)