Fake notes of Rs 87,000 face value recovered, two held

Fake Indian currency notes of Rs 87,500 face value were recovered here and two persons were arrested in this connection on Wednesday, police said.

Acting on a tip-off, a team of Special Operations Group (SOG) held the duo, identified as Abhishek Surve and Sumit Nambiar, from Sangam square area of the city, police said.

"The accused were arrested and 175 fake currency notes of Rs 500 denomination with Rs 87,500 face value were recovered from their possession," an SOG official said.

While Surve is doing his graduation, the latter repairs air conditioners and refrigerators for livelihood, he said.

They were booked under IPC sections 489 (counterfeiting currency notes), 120 (B) (criminal conspiracy) and 114 (abettor present when offence is committed), the official said.