Fake currency poses threat to economy and national security, must be dealt with sternly: HC

Circulation of fake currency notes poses a serious threat to the economy and national security and courts must deal with such cases sternly, the Delhi High Court has said.The high court made the observation while denying bail to a man from whose house fake Rs 2,000 notes of face value of Rs 3 lakh were allegedly recovered.While denying the relief to the accused, the court considered the seriousness of the offence and the recoveries made from his house and shop. supply and circulation of fake currency notes pose a serious threat to the economy, national security, and individual well-being.

Circulation of fake currency notes poses a serious threat to the economy and national security and courts must deal with such cases sternly, the Delhi High Court has said.

The high court made the observation while denying bail to a man from whose house fake Rs 2,000 notes of face value of Rs 3 lakh were allegedly recovered.

While denying the relief to the accused, the court considered the seriousness of the offence and the recoveries made from his house and shop.

"… supply and circulation of fake currency notes pose a serious threat to the economy, national security, and individual well-being. Therefore, it is crucial for the courts to deal with such cases with stern hand," Justice Swarana Kanta Sharma said and added that the court was not inclined to grant bail to the man at this stage.

The court said the case raises grave concern regarding the involvement of the accused persons in 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 society. There is no gainsaying that proliferation of counterfeit currency facilitates various forms of illicit activities, including money laundering, terrorism financing, and organised crime," it said.

According to the prosecution, accused Irshad was arrested on June 22, 2023 from his residence in Uttar Pradesh's Kairana and 150 fake Rs 2,000 currency notes were allegedly recovered from his house.

The prosecutor sought dismissal of Irshad's bail plea contending that he was the main conspirator in the case and that equipment used for printing fake Indian currency notes were found at his shop.

Irshad had sought bail claiming he was falsely implicated in the case and that the police had planted the currency notes at his house.

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