Supply of fake currency notes threat to national security: High Court

WHILE DENYING bail to a man accused of supplying fake currency notes, the Delhi High Court recently said that the “the supply and circulation of fake currency notes represent a serious threat to the economy, national security, and individual well- being”.

A single- judge bench of Justice Swarana Kanta Sharma, in its April 3 order, rejected one Irshad alias Bhuru’s plea, who had sought regular bail in a case registered under IPC sections 489B ( using as genuine forged/ counterfeit currencynotes/ bank- notes), 489C ( possession of forged/ counterfeit currency- notes/ bank- notes), and 34 ( common intention).

“The present case raises grave concerns regarding the involvement of the accused in the distribution and circulation of counterfeit currency notes. The illicit activities surrounding the supply and circulation of counterfeit currency notes pose multifaceted risks to both the economy and individuals within the society. There is no gainsaying that the proliferation of counterfeit currency facilitates various forms of illicit activities, including money laundering, terrorism financing, and organised crime...,” said the court.

“Thus... this court is not inclined to grant bail to the applicant at this stage,” said the HC, while dismissing the bail plea. The order notes that allegations against the accused were that he was engaged in supply and circulation of fake Indian currency notes in parts of Delhi, UP, Punjab, and Haryana, in conspiracy with a co- accused. Irshad, who was arrested on June 22, 2023, claimed he had been falsely implicated by police.