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The chairman, Shiv Prasad Pandey was running the fake board and lured students by showing its website bhsedelhiboard.net and defrauded them of huge amounts of money.
"The accused were arrested on Thursday night after a decoy student was sent to Pandey's office in East Delhi," the officer said.
Dozens of fake mark sheets of 17 different boards and universities, rubber stamps, printers and computers were recovered from the office.
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