Lucknow/New Delhi, October 22, 2026: The National Investigation Agency (NIA) has arrested two alleged principal conspirators involved in the illegal printing and supply of counterfeit Indian currency notes with a face value of ₹17.29 crore that were recovered from the Punjab National Bank (PNB) currency chest in Saharanpur, Uttar Pradesh. The arrests bring the total number of persons taken into custody in the case to seven.
Ajay Kumar, son of Ramesh Chand, was arrested from Ambala in Haryana on October 16, 2026. Harish Rounta, son of Devi Chand Rounta, was arrested from Manali in Himachal Pradesh on October 22, 2026. According to the NIA, the two are among the main conspirators in the production and large-scale supply of fake notes.
The agency stated that the counterfeit currency was routed through several other accused persons before reaching the PNB currency chest at its Civil Lines branch in Saharanpur. Both men are described as close associates of previously arrested accused Adesh Choudhary and others linked to the conspiracy to introduce the notes into the banking system.
The case originated on August 29, 2026, when the Sadar Bazar police station in Saharanpur received credible information about the recovery of counterfeit notes worth ₹17.29 crore from the PNB currency chest. An FIR (No. 0431/2026) was registered the same day under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, against three accused persons. The NIA took over the investigation and re-registered the case on September 3, 2026, as RC-02/2026/NIA/LKW at its Lucknow branch.
During the initial inquiry, the alleged involvement of three bank employees came to light, following which the bank suspended them. The NIA has so far arrested the following persons in the case:
- Amit Kumar (named in the original FIR and manager of the Jagadhri currency chest) on September 7, 2026;
- Adesh Choudhary (a contractual driver attached to the PNB Saharanpur currency chest) on September 15, 2026;
- Mukesh Kumar and Rajender (Rajendra) Kumar on September 20, 2026; and
- Nitu on September 22, 2026.
Investigators are examining the full supply chain, the roles of bank personnel and intermediaries, and how the counterfeit notes entered and were placed in the currency chest. The probe is also scrutinising the movement of a ₹111-crore cash consignment dispatched from Saharanpur to the Reserve Bank of India’s Jaipur office on July 6, 2026, comprising 1,900 bundles of ₹500 notes and 800 bundles of ₹200 notes. Officials are assessing whether counterfeit notes formed part of consignments that entered the formal banking network and whether any reached branches or ATMs.
The NIA has stated that further investigation is underway to establish the complete conspiracy, identify the remaining co-accused and suspects, and trace the network involved in the printing, transportation, and placement of the fake notes.
