Police arrested two persons with fake currency notes having a face value of Rs 4 lakh from near the ICL railway crossing on the GT Road in Rajpura on Thursday.
A total of 745 currency notes the denomination of Rs 1,000 and Rs 500 were recovered. The accused have been allegedly smuggling and circulating fake Indian currency notes printed in Pakistan through Bangladesh via Malda district of West Bengal. It is learnt that the arrested persons bought the counterfeit notes for Rs 40,000 per lakh from Bangladesh. The accused, Jugansu Chaudhry and Sudan Chowdhry, are residents of Malda.
Rajpura superintendent of police (SP) Manjeet Singh Brar said a police party caught the accused when they alighted from a bus and tried to flee on seeing the cops.
A case under Sections 489A/B/C (counterfeiting currency notes) of the Indian Penal Code has been registered.
The accused used buy things up to Rs 100 by giving fake notes having face value of Rs 500 or Rs 1,000 to shopkeepers and used to get original notes in balance.
The SP said they had circulated fake currency of around Rs 70,000 in Jaipur of Rajasthan.