A multi-state counterfeit coin racket allegedly involved in manufacturing and circulating fake Rs 20 coins worth more than Rs 70 crore has been exposed after police intercepted a group transporting coin-making machinery from Haryana to Uttar Pradesh. The alleged racket operated from Haryana's Sonipat district for around 10 months under the cover of a screwdriver manufacturing business.
The accused allegedly shifted their operations after one of their associates was arrested by Delhi Police. The investigation has revealed details about the alleged manufacturing process, distribution network, the roles of the accused and earlier counterfeit coin cases in Delhi and Haryana.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
ALSO READ: Shaina NC Identity Misused In Rs 4.9 Lakh Scam, Mumbai Police Bust Cyber Fraud Racket
The Saharanpur Police intercepted five men on September 13 and recovered six heavy machines from them. The group was allegedly in the process of moving the equipment from Sonipat to Uttar Pradesh to avoid detection when they were arrested, the police said. Only then was it revealed that they were not manufacturing screwdrivers but counterfeit Rs 20 coins, The Indian Express reported.
The machines were not running when they were recovered in Saharanpur. As a result, the police could not independently verify the accused's claims about their daily production capacity.
The investigation reportedly began after the Saharanpur Police received information from an informer about three men looking for a space of approximately 500 square feet. According to The Indian Express, the men wanted to install six heavy machines, seemingly to manufacture tools. The informer allegedly described the men as suspicious.
The three men initially apprehended were identified as Upkar Luthra alias Abhay Pratap Singh (62), Himanshu alias Gullu from Saharanpur and Kuldeep from Muzaffarnagar. During questioning the police learnt that the two other associates were waiting at a nearby crossing in separate vehicles. They were identified as Santosh Chaurasia alias Janardhan from Madhubani in Bihar and Anurag Pal alias Lankesh from Sant Ravidas Nagar in Uttar Pradesh.
The police subsequently apprehended the two men and recovered the machinery from their vehicles, according to the report. Investigators stated that the accused had allegedly been operating the counterfeit coin manufacturing unit in Sonipat before deciding to relocate it. The group reportedly feared a police raid.
Police have identified Upkar Luthra alias Abhay Pratap Singh as the alleged kingpin behind the counterfeit coin operation. The Indian Express reported that Luthra had previously worked as a goldsmith. Investigating officer and station house office Rajeev Kumar Kaushik said that Luthra allegedly used the skills he acquired during his time as a goldsmith to experiment with counterfeit coins and gradually improve their resemblance to genuine currency.
Police reportedly stated that Luthra met Himanshu in Tihar Jail, where the two allegedly developed their association. Other members of the group are believed to have joined after meeting them in different prisons.
ALSO READ: Rs 10, 20 Polymer Notes Get Govt Nod: What Happens To Existing Paper Currency?
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.