Unmasking the gang that triples ₹500 notes, 2 accused – 1 woman and 1 man arrested

Mira‑Bhayandar, Sept 17 (City News Mumbai)

Kashiganj police have uncovered a gang that prepared counterfeit ₹500 Indian currency notes and circulated them in place of genuine notes, arresting three accused. The police seized goods worth ₹1,38,870 and materials used for making counterfeit notes from the accused.

According to the police, on 8 September 2026 at the Golden Retreat Hotel, Kajupada, within the Kashiganj police station jurisdiction, some accused applied a black chemical to genuine ₹500 notes and pretended to wash the notes with the chemical to produce a duplicate note. The accused were defrauding people by enticing them with the promise of three times the amount in exchange for a genuine note. Acting on a secret tip, the police set a trap and carried out the operation.

The arrested accused have been identified as Amol Vasant Bundagar (43), Chaitrali Shankar Chakravarti (27) and Nisha Sunil More (41).

What the police seized:
₹500 Indian notes — total 151 notes
Iodine totaling 125 mL in two plastic bottles
Two transparent plastic bags filled with white granular powder
25 ₹500 notes dyed black
Glass coil and plastic applied on glass used to prepare 2 notes
7 mobile phones
2 sack bags

The case has been registered at Kashiganj police station under Sections 318(4), 62 and 3(5) of the Indian Penal Code 2023.

Under the guidance of police officials, the crime disclosure team of Kashiganj police and other police personnel carried out the operation. According to the press note, senior police inspector Rahul Kumar Patil and other officers and staff of the police team were involved in the action.