Rajkot, Feb 1 (IANS) A police team from Gujarat’s Rajkot has arrested fake currency notes case prime accused Ramesh Babu Kasturi from Hyderabad, an official said on Wednesday.
Kasturi was arrested by the Telangana Police from Hyderabad in September 2022, but later released on bail and was back to printing fake currency notes.
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The A Division Police Sub Inspector B.H. Parmar and his team had brought Ramesh Babu Kasutri on transit remand from Telangana and he was produced before a Rajkot court on Wednesday and it granted police 10 days remand, said police sources.
On January 20, Rajkot police had unearthed fake currency rackets, when two persons attempted to deposit fake currency with face value of Rs 2.50 lakh with an ‘Angadia Pedhi’ (traditional courier service) for money transfer. In this connection, police had arrested five persons, including one from Pune.
Kasturi and his sister K Rameshwari entered into fake currency notes printing, post pandemic, as they were in a financial crisis. Then, Telangana Police believed that the duo must have infused fake currency with a face value of at least Rs 60 to 70 lakh in the market, said sources.