Hyderabad: Police arrested a 33-year-old man and seized counterfeit currency worth ₹94,000 in the Hyderabad counterfeit currency case detected by Chaderghat police, officials said.
The accused, identified as Ahmed Pasha, a resident of Chandrayangutta, was taken into custody following an investigation into fake currency deposits at a private bank. The case was registered under Crime No.127/2026 under relevant sections of the Bharatiya Nyaya Sanhita relating to circulation of counterfeit currency.
The development followed a complaint lodged on April 7 by a branch manager of Kotak Mahindra Bank in Malakpet. During routine verification, bank staff detected 10 counterfeit ₹500 notes, amounting to ₹5,000, in a Cash Recycler Machine. The fake notes were identified using ultraviolet lamps and standard verification systems.
During the probe, police traced the deposit to a bank account held by Ahmed Pasha. The transaction had been made on March 27. Investigators then identified and apprehended the accused.
Hyderabad counterfeit currency case uncovers supply network
During questioning, he admitted to procuring counterfeit currency through social media contacts. He stated that he had collected fake notes worth ₹94,000 from an unidentified person at Shadnagar. He intended to circulate the notes as genuine currency.
Police said the accused had deposited ₹5,000 into the bank machine, while the remaining ₹89,000, comprising 178 counterfeit ₹500 notes, was recovered from his residence.
Further technical analysis indicated that the suspected supplier was operating from Gujarat. Police said efforts were underway to identify and apprehend the main accused involved in supplying the counterfeit currency.
The investigation was conducted under the supervision of senior officers of the Charminar Zone and Malakpet Division. The case remained under investigation.