Police exposed an alleged racket that was printing ₹100 and new ₹500 notes at a rented house in Hazira area of Gwalior and arrested two men, aged in early 20s.
The kingpin of the racket is at large. The police seized from the trio fake ₹100 and ₹500 notes worth ₹13,900.
The accused were booked under Section 489 of IPC and further investigations are underway, Gwalior superintendent of police Ashish told Hindustan Times.
This is the second alleged racket exposed by the MP police in three days which was printing new currency notes. Earlier on Saturday, two people were arrested from Burhar town of Shahdol district for allegedly printing fake ₹2,000 notes at a pathology lab.
In Gwalior, the police stumbled upon the alleged racket during a routine vehicular check in Hazira area on Tuesday.
A man, identified as Ashutosh, was purchasing cigarettes with a ₹500 note at a roadside shop. The shopkeeper got suspicious about the note and called the police who were checking vehicles.
When Ashutosh was grilled, he broke down and admitted being part of the racket, involving two others.
The police arrested his aide, identified as Pawan.
The grilling of the arrested duo revealed that the fake currency was being printed by a man, identified as Jacky, at a rented house in the same area.
The police team raided the house, but the alleged kingpin of the racket couldn’t be arrested.
“Investigations have revealed that the kingpin was using coloured photo copiers to print the fake notes since the demonetisation of the two high-valued banknotes was announced on November 8,” the Gwalior superintendent of police said.
However, the SP didn’t rule out possibility of the fake notes racket operating before demonetisation announcement. “We’re also probing the possibility of the alleged racket using the fake currency notes in procuring narcotic substances as one of the arrested men is a drug addict,” said Ashish.