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Man held for depositing fake notes in bank

Press Trust of India  |  Thane 

A paper scrap merchant from Ulhasnagar township in the district has been arrested for allegedly possessing counterfeit notes of the demonetised currency and depositing it in a bank, police said today.

Pankaj P Kori (30) went to the Ulhasnagar branch of a leading public sector bank on November 24 and deposited in the now defunct Rs 500 notes worth Rs 1.05 lakh. After verification, 11 notes were found to be fake, they said.

Subsequently, an offence under section 489 (B) (using as genuine, forged or counterfeit currency-notes or bank-notes) was registered against him under zero category with the Ulhasnagar police station on October 25.

The case was transferred to Nagar police station yesterday for further probe and Kori was arrested, police said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 27 2016. 14:07 IST