Goshamahal Police have arrested a 21 year old man in connection with an alleged counterfeit currency circulation case and seized 16 fake ₹500 notes with a total face value of ₹8,000, police said.
The case was registered at Goshamahal Police Station under Crime No. 359/2026 under Sections 179, 180 and 318(4) read with Section 3(5) of the Bharatiya Nyaya Sanhita (BNS).
According to the police, the accused has been identified as Vikram, 21, a private employee and resident of the Begum Bazar area of Hyderabad. Police said he was arrested on September 25 at around 11:30 pm and was subsequently produced before the court and sent to judicial remand.
Police Account of the Incident
- Police said that on September 25 at around 9 pm, ASI Janardhan Naik and Head Constable Sanjay Kumar Sharma were conducting patrols near Begum Bazar Chatri when they noticed Vikram and detained him on suspicion.
- During questioning, police alleged that Vikram was circulating counterfeit ₹500 notes among petty vendors. According to the police, he would allegedly tender one counterfeit ₹500 note and receive ₹400 in genuine currency as change.
- During a search, police recovered 16 suspected counterfeit ₹500 notes, having a total face value of ₹8,000.
- Police further stated that during the investigation, Vikram allegedly disclosed that he had obtained the counterfeit notes from a person identified as Ashok.
Further Investigation Underway
- Police said that Ashok and other suspected persons are currently absconding and efforts are underway to trace them and establish the source of the counterfeit currency.
- The investigation is continuing to identify the wider network, if any, involved in the alleged circulation of counterfeit currency. Police said further legal action will be taken in accordance with the law and a charge sheet will be filed after completion of the investigation.
Police Appeal to Public
- Goshamahal Police have appealed to shopkeepers, petty vendors, street vendors and members of the public to remain alert while accepting currency notes, particularly ₹500 denominations.
- Police advised the public to carefully check the security features of currency notes, especially during busy periods and rush situations.
- Anyone who suspects that a person is attempting to circulate counterfeit currency is advised not to confront the individual. Instead, people should note relevant details, if possible, and immediately inform the nearest police station or contact Dial 100.
- Police said public cooperation is important to prevent the circulation of counterfeit currency and protect people from financial losses.
Note: The allegations mentioned in this report are based on the Hyderabad City Police press note. The accused is presumed innocent unless proven guilty by a court.
