Fake currency seizure, 4 held

NEW DELHI, November 27: The president of Punjab State Kabaddi Association and the chairman of the All India Circle Kabaddi Association, Hangobind Singh, has been arrested in one of the biggest fake currency seizures till date. The Directorate of Revenue Intelligence confiscated Rs-500 notes amounting to Rs 24,99,500 on Wednesday afternoon in Janpath and arrested Kuldeep Sharma, Surinder Singh and Rohtak Singh apart from Hangobind. The seizure was made under the provisions of Customs Act on the reasonable belief that the amount represented the sale proceeds of smuggled gold. But investigations have revealed that the currency was counterfeit and was brought from across the border.

Hangobind Singh, the alleged recipient of the fake currency, is reportedly involved in four cases of smuggling of gold and silver. His Mercedes-Benz has been seized by the Crime Branch.

On the basis of a tip-off, the officers of the Directorate of Revenue Intelligence intercepted a vehicle on November 25 on Janpath. A search of the vehicle led to the recovery of the fake currency concealed in the front door side panel. A detailed examination of the currency revealed that it was counterfeit.

Since there was prima facie violation of the provisions of the Indian Penal Code, the case was transferred to the Deputy Commissioner of Police (Crime).