Additional Sessions Judge P Y Ladekar pronounced the sentence after convicting Ramzan Sheikh (26) and Rezarul Sheikh alias Nasaruddin Sheikh (20) of possessing the contraband.
The Pune Crime Branch had arrested the duo after they were found with fake Indian currency notes (FICN) having a face-value of Rs 80,000 on June 4, 2015.
Additional public prosecutor Suresh Gavali told PTI that the court besides awarding life sentence to the two convicts, also imposed a fine of Rs 1.25 lakh each.
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