High-quality fake currency notes of Rs 1.52 lakh seized

The Gujarat Anti-Terrorist Squad (ATS) on Friday arrested a man from Junagadh city in the state and seized Fake Indian Currency Notes (FICN) with a face value of Rs 1.52 lakh from his possession, an official release said.

The accused was identified as Sanjay Devaliya, resident of Madhuram society in Junagadh.

Based on information provided by the Mumbai unit of the National Investigation Agency, an ATS team raided Devaliya's house and allegedly seized 53 fake notes of Rs 2000 denomination and 92 notes of Rs 500 denomination.

The notes seemed to be of high quality, containing security thread, watermark and other security features, the ATS said.

This was the first recovery of high-quality fake notes in Rs 500 and 2000 denominations, it said.

Devaliya was a "dealer" who had allegedly brought the notes from West Bengal to circulate them in Gujarat, and the ATS had identified the kingpin of the network, it added.