: A fake currency-producing and circulating racket has been busted here and a search is on for the accused, including a DMK functionary, in this connection, police said on Monday.
On a tip-off, the search was made at the house of Annur union secretary and former DMK MLA Elango's son E Anandan in Vadavalli, near here, on Saturday night, the police said.
Demonetised currency in the denomination of Rs 1,000 was seized from the residence but Anandan was not there, the police said.
On verification, it was found that Rs 1,000 banned notes were placed on top and pink colour paper below to make it a bundle comprising 100 notes and there were 934 such bundles, they said.
Besides the bundles, police seized a cash-counting machine, a pink powder packet, an air gun and pellets from the residence, the police said.
Cases have been registered against Anandan and two of his accomplices Sheikh and Rasheed, they said.
A special police team has been formed to catch the accused amid reports of their involvement in producing and circulating fake currency and also in land-grabbing cases, they added.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
