Two persons including a woman, who were allegedly involved in printing and circulation of Fake Indian Currency Notes (FICN) in Telangana and other States were arrested here and counterfeit currency with a face value of Rs 27 lakh was seized from them, police said on Monday.
Based on information, police teams apprehended the accused from Chandrayangutta here and seized the fake currency and other material from them, a release from Hyderabad Police said.
The prime suspect in this case, who is brother of the woman accused, had printed the fake currency in denomination of Rs 500 after procuring raw material for preparation of the notes along with his sister, police said.
He circulated the fake notes in Gujarat and was arrested by the State police there in January. Later, the sister of the prime suspect contacted another accused, an auto-rickshaw driver and shifted all the materials including FICN to Chandrayangutta for further circulation and they were arrested, police said.