The Ahmedabad Special Operations Group (SOG) has uncovered a large counterfeit currency racket involving over 1,697 fake notes of various denominations. The counterfeit notes, resembling genuine Indian currency, were seized from multiple banks and locations across the city.
The investigation began earlier this year following suspicious activities reported by bank officials. Fake currency notes were detected in sealed covers and forwarded to the Ahmedabad Police Commissioner’s office and the Joint Commissioner of Police. The notes, deposited in banks including ICICI, Axis, HDFC, Yes Bank, and SBI, were flagged for their texture, colour, and serial number discrepancies.
Preliminary analysis revealed that the counterfeit notes included:
- ₹500 notes: 294 pieces
- ₹200 notes: 105 pieces
- ₹100 notes: 160 pieces
- ₹50 notes: 43 pieces
A total of 1,697 fake notes, amounting to several lakhs, were recovered during the investigation.
Modus operandi
The counterfeit currency has been produced with high precision to mimic genuine notes. Investigators suspect a coordinated effort by unknown individuals to create and circulate these fake notes as legitimate currency in the market. The notes were reportedly circulated through businesses and bank transactions to infiltrate the financial system.
Police action and seizure
The seized notes were catalogued and securely stored in transparent plastic boxes for forensic examination. The police also obtained relevant documents from the banks to trace the origin of these notes.
Legal proceedings
The case has been registered under Sections 485, 486, and 120-B of the Indian Penal Code, which deal with counterfeiting currency and criminal conspiracy. The police are now working with banking officials and forensic experts to identify the masterminds behind this operation.