PNB Saharanpur case: NIA arrests two more key accused in ₹17.29-cr counterfeit currency case

The case came to light on August 29 after the Saharanpur police received information about the recovery of counterfeit Indian currency notes with a face value of ₹17.29 crore from the bank’s currency chest.

The National Investigation Agency (NIA) on Sunday arrested two more key accused in an alleged conspiracy to circulate counterfeit Indian currency through the Punjab National Bank (PNB) currency chest in Saharanpur, taking the total number of arrests in the case to four.

The NIA said its investigation is continuing to unravel the complete conspiracy and identify and arrest the remaining co-accused and suspects. (FOR REPRESENTATION)

The arrested accused were identified as Mukesh Kumar of Hasanpur Kadeem village under Sadar police station and Rajendra Kumar of Kalyanpur village under Sarsawa police station, both in Saharanpur district.

According to the NIA, the two are close associates of Adesh Choudhary, who was arrested by the agency on September 15 and is one of the key accused in the case. The agency said Mukesh and Rajendra were also key accused in the conspiracy relating to the circulation of counterfeit currency notes through the PNB currency chest at Civil Lines in Saharanpur.

The case came to light on August 29 after the Saharanpur police received information about the recovery of counterfeit Indian currency notes with a face value of ₹17.29 crore from the bank’s currency chest. The discovery subsequently raised questions over how such a large quantity of suspected counterfeit currency reached a secured bank facility and whether it was allegedly being moved through the formal banking channel.

The initial police inquiry also brought the alleged involvement of three PNB employees to light. The bank subsequently suspended all three employees.

The case was initially registered as an FIR at Sadar Bazar police station in Saharanpur on August 29 under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, against three accused. The NIA subsequently re-registered the case on September 3 and took over the investigation.

The agency had first arrested the FIR-named accused Amit Kumar on September 7, followed by Adesh Choudhary on September 15. With Sunday’s arrests, four accused have now been taken into custody in connection with the alleged counterfeit-currency conspiracy.

The latest arrests are significant to the investigation as the NIA has described Mukesh Kumar and Rajendra Kumar as close associates of Choudhary. Their custodial interrogation is expected to be part of the agency’s efforts to establish the alleged network involved in sourcing, handling and circulation of the counterfeit notes and to ascertain the role, if any, of other persons linked to the bank’s currency-handling operations.

The recovery of the suspected fake currency from a currency chest, a facility used for storing and handling cash for banking operations, is a key aspect of the probe. Investigators are examining the circumstances in which the notes allegedly entered the chest and the suspected mechanism through which they were to be circulated, officials said.

The NIA said its investigation is continuing to unravel the complete conspiracy and identify and arrest the remaining co-accused and suspects.