NIA arrests third person in Naupada fake currency case

On Saturday, the National Investigation Agency (NIA) reported that they had apprehended another individual and seized 12 swords in connection with a counterfeit currency case registered in Naupada, Maharashtra in 2021.

According to a spokesperson for the federal agency, Md Fayaaz Shikilkar was taken into custody as the third individual involved in the case, following a two-day operation that involved searching various locations throughout the state.

The official stated that Shikilkar had been arrested for possessing a dozen sharp-edged swords and other pieces of evidence linking him to a case involving the discovery of high-grade counterfeit Indian currency notes (FICN).

As per the spokesperson, investigations carried out by the NIA revealed that the suspect had been in communication with D-company regarding their involvement in the circulation of forged banknotes.

Based on items seized from the homes and workplaces of the suspects, the NIA conducted searches at six different locations on Wednesday, resulting in the detention of 33-year-old Shikilkar, who resides in Mumbai.

At present, two individuals named Riyaz and Nasir, both residents of Mumbai, have been remanded to judicial custody in relation to the case where fake Rs 2,000 denomination Indian currency notes were discovered.

Initially, on November 18, 2021, the Thane City Police had filed a case under sections of the Indian Penal Code and the Unlawful Activities (Prevention) Act. The two suspects had been charged by the police in the high-profile case. Later on February 7, 2023, the NIA took over the case and re-registered it.

The NIA announced on May 11th that their investigations into the discovery of counterfeit banknotes provided preliminary evidence of D-company's direct involvement in the matter.

According to the agency, their inquiry into the case revealed evidence that strongly suggested D-Company's involvement in the distribution of fake Indian currency notes (FICN) within India.