The Delhi High Court recently rejected the bail plea of a man who stands accused of distributing counterfeit currency. During a raid on his residence, fake ₹2,000 notes amounting to ₹3 lakh were seized.
Justice Swarana Kanta Sharma, while denying the bail plea filed by Irshad alias Bhuru, emphasized the grave threat posed by the distribution and circulation of counterfeit currency. She noted that such activities not only endanger the economy but also undermine national security and the welfare of individuals.
Hence, the Court underscored the importance of handling such cases with firmness and severity, highlighting the critical need for judicial vigilance in addressing such threats.
“The present case raises grave concerns regarding the involvement of accused persons in the distribution and circulation of counterfeit currency notes. the Court observed.
The Court underscored the significant implications of counterfeit currency proliferation, highlighting its facilitation of various illicit activities including money laundering, terrorism financing, and organized crime. Furthermore, it emphasized the frequent exploitation of counterfeit money by criminal syndicates to fuel their operations.
Additionally, the Court highlighted the risks faced by individuals who unknowingly possess counterfeit currency, including potential financial losses, legal repercussions, and harm to their reputations.
Irshad, the accused, was apprehended on June 22, 2023, from his residence in Kairana, Uttar Pradesh. Law enforcement officials reported the discovery of 150 counterfeit ₹2,000 currency notes, totaling ₹3 lakhs in value, at his premises.
The Court considered the arguments and rejected the bail application.
Advocate AK Suri appeared for accused, Irshad.
The State was represented through Additional Public Prosecutor Manoj Pant.
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