Hyderabad: Future City Police busted a fake currency racket involving counterfeit ₹500 notes with a total face value of ₹6.78 crore and arrested four suspects. Police also uncovered an illegal currency printing unit at Kuntloor and seized equipment allegedly used to manufacture counterfeit notes.
Future City Commissioner of Police Dr. Tarun Joshi, IPS, disclosed the operation during a press conference on Tuesday, November 3. The arrests followed a joint operation by Abdullapurmet Police and the Shadnagar Special Operations Team (SOT).
According to the Commissioner, police intercepted a car near Ramoji Film City on National Highway 65 on November 1, 2026. During the operation, officers arrested Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy and Karanam Ajay Kumar.
Police uncover fake currency racket at Kuntloor
Following the arrests, investigators traced an alleged counterfeit currency printing operation to a rented house at Kuntloor. Police searched the premises and recovered printers, a laptop, currency-cutting machines and other equipment allegedly used to produce fake notes.
The investigation linked the printing unit to the counterfeit currency operation that police uncovered near Ramoji Film City. Officers also seized fake ₹500 denomination notes carrying a combined face value of ₹6.78 crore.
The recoveries formed part of the investigation into the fake currency racket and the suspected production and circulation of counterfeit notes. Commissioner Tarun Joshi explained the sequence of events during the press briefing and provided details of the arrests and seizures.
Accused allegedly posed as police officers
Investigators also uncovered allegations that the suspects impersonated police personnel to intimidate and deceive people. According to the Commissioner, the accused allegedly used forged police identity cards, walkie-talkies and a dummy pistol during their activities.
Police said the suspects used these items to create the impression that they were law enforcement officers. The alleged impersonation formed another aspect of the investigation, alongside the counterfeit currency printing operation.
Meanwhile, investigators continued examining the accused persons’ activities and their possible connections with other individuals. Future City Commissioner of Police Dr. Tarun Joshi, IPS, supervised the operation along with Maheshwaram Deputy Commissioner of Police K. Narayana Reddy, IPS.
Ibrahimpatnam Assistant Commissioner of Police K.P.V. Raju also supervised the investigation and enforcement action. Shadnagar SOT Inspector Bhupal Sridhar and Abdullapurmet Inspector Ch. Raju led their respective teams during the operation.
The joint police action resulted in four arrests and the seizure of counterfeit notes, printing machinery and items allegedly used for police impersonation. Police are continuing their investigation into the fake currency racket to identify other persons who may have participated in the operation.