Thakkar sent his employees to the office, where the two accused handed over a plastic cover, allegedly containing Rs 1.3 crore in cash, and asked them to count it using a machine. While Thakkar’s employees were occupied, the accused left the shop under the pretext of collecting the remaining Rs 30 lakh from a nearby store and escaped with the gold. Upon opening the plastic cover, the employees discovered that the cash was fake, with notes featuring Kher’s image.

Inspector AA Desai of Navrangpura police station told The Indian Express that the accused had set up a fake courier company, renting the shop and installing a fake board to deceive the landlord, promising to sign a rent agreement within a day or two. The investigation is ongoing, and police are actively searching for the accused, although no arrests have been made yet.

Counterfeit notes in India

In the last four years, India has faced increasing issues with counterfeit currency despite efforts to combat it, particularly following the 2016 demonetisation of Rs 500 and Rs 1,000 notes, which was partly aimed at curbing the circulation of fake notes.

The RBI Annual Report for FY22 mentions that counterfeit currency detection rose in several denominations, particularly Rs 500, which saw a significant increase of 102 per cent. Additionally, counterfeit notes of Rs 200 and Rs 2,000 also showed a rise, while Rs 50 and Rs 100 denominations saw a decline. The total number of counterfeit notes detected across the banking system increased by approximately 10.7 per cent compared to the previous year.

[With agency inputs]

First Published: Sep 30 2024 | 5:11 PM IST