DRI seizes fake currency notes of Rs 18.75 lakh, 1 held

The officers of DRI, Nagpur, have seized Fake Indian Currency Notes (FICN) of Rs 18.75 lakh, which was smuggled from Bangladesh to India, and have apprehended one person in this connection.

An official release said on Wednesday that the officers of Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, Nagpur, mounted an operation in three states -- Maharashtra, Madhya Pradesh, and West Bengal -- on the basis of specific intelligence.

It said the Nagpur DRI apprehended a person at around 3 pm on January 13 and seized FICN -- 386 notes of Rs 2,000 denomination and 1,191 notes of Rs 500 denomination. The value of the fake currency is Rs 18.75 lakh.

The release said that FICN was smuggled from Bangladesh to India.

"One accused person Lalu Khan, 38, was arrested by the DRI, Nagpur," the release said, adding that more persons are involved and action will be initiated against them.

The release said the case has international ramifications as the involvement of an international syndicate based in Bangladesh was suspected and investigations are underway.

The release said in the recent past, DRI Mumbai zonal unit registered three such FICN cases.

The Unlawful Activities (Prevention) Act, 1967( UAPA) has been amended and damage to the monetary stability of India by way of production or smuggling or circulation of high-quality fake Indian paper currency, coin or any other material has been declared as "terrorist" act.