NIA raids six locations in fake currency probe

Materials seized were sharp-edged weapons, digital devices and documents

The National Investigation Agency (NIA) has seized incriminating material after conducting searches at six places in Mumbai in connection with a case of seizure of high-quality fake currency notes from neighbouring Thane.

The Thane police crime branch had seized fake currency notes of Rs 2.98 lakh face value in November 2021. During the investigation into the case, the “role of 'D-Company' has prima facie been established in the circulation of the fake notes in India,” the NIA said in a statement on Thursday. D-Company refers to the syndicate of fugitive don Dawood Ibrahim—the key accused in the 1993 Mumbai serial blasts case.

Multiple raids were conducted on Wednesday by the NIA Mumbai team at various properties, including houses and offices of accused persons and suspects in the case, the statement said. The materials seized included sharp-edged weapons, digital devices and documents, which is a “strong corroboration of NIA's earlier investigational findings establishing a direct connection with the D-Company in the fake currency racket,” the statement said.

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The case is related to the seizure of counterfeit Indian currency notes of R2,000 denomination. Two persons had been arrested in the case, originally registered at Naupada police station in Thane city on November 18, 2021, under relevant sections of the Indian Penal Code and the Unlawful Activities (Prevention) Act, the NIA said.

The accused—Riyaz and Nasir—are both residents of Mumbai and are currently in judicial custody. The Thane Police had carried out searches and chargesheeted them in the high-profile case, which was taken over by the NIA and re-registered on February 7, 2023.

Rs 2.98 lakh
Face value of fake notes seized in November 2021

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