NIA Takes Over Major Fake Currency Racket Probe in Gujarat; ₹2.38 Crore in Counterfeit Notes Seized”

The case first came to light on 18 March, when the city crime branch intercepted a suspicious vehicle in the Amraiwadi area of Ahmedabad. Inside, police discovered 44,053 fake ₹500 notes, concealed in bags and cartons, with a combined face value of over ₹2.10 crore. The occupants of the vehicle — seven people including a yoga instructor — were immediately taken into custody. Subsequent raids in Surat uncovered a clandestine printing setup where additional fake currency amounting to ₹28 lakh was recovered, along with high‑grade printing machines and other equipment used to manufacture the notes.

Investigators have unearthed evidence suggesting that the operation had been active for several months, with the accused allegedly running the printing unit from a residential location in Surat. Authorities also learned that the main suspect had previously traveled to China, reportedly under the pretext of purchasing yoga equipment, but is now believed to have sourced specialized paper required for printing near‑genuine fake currency.

“The involvement of the NIA indicates that this racket may extend beyond state borders and could include international elements,” a senior police official said. Officials are now scrutinizing financial transactions linked to the network and probing whether properties and vehicles acquired in Surat and Rajkot were bought using proceeds from the fake currency operation.

In addition to examining the monetary trail, investigators are also reviewing past allegations against some of the accused, including unrelated claims of misconduct. Sources indicated that individuals in positions of influence, including a retired Indian Police Service (IPS) officer and certain government functionaries, are now under the scanner for potentially laundering unaccounted funds through the network tied to the fake currency syndicate.

Authorities say they are now coordinating efforts across multiple states and expect to uncover more suspects as the investigation expands. The NIA’s involvement is likely to bring a broader lens to the probe, including potential links outside India and contacts that facilitated the circulation of fake currency in various markets.