Police said fake Indian currency with a face value of Rs 2 lakh was also seized from accused who were nabbed from the outskirts of the city.
Besides Ranjit Singh, who was dismissed from BSF, the other accused are Ravel Singh and Jora Singh.
Ranjit Singh had earlier undergone three years imprisonment in a case of gold smuggling in 1994. Around four months back, he was released from jail after serving seven years imprisonment in a murder case.
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