The special cell of Delhi Police has arrested a key member of the counterfeit currency note nexus with the recovery of Rs 4 lakh, , all in the denomination of Rs 500, Fake Indian Currency Notes (FICN), it said on Saturday.

The action came after a credible input regarding interstate syndicate indulged in circulation of FICN in various states, including Delhi & NCR and surveillance, was mounted upon the suspects, said Deputy Commissioner of Police (Special Cell NDR) Amit Kaushik.

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Kaushik added that during the surveillance, it was revealed that FICN is being pumped into India through the porous Indo-Bangladesh border and acting on a specific input, the suspect identified as Naushad Alam was arrested from Vijay Ghat Bus Stand while he was enroute to deliver consignment of FICN to one of the contact of his associate.

Alam was thoroughly interrogated, wherein he confessed of being part of the nexus further revealing that he used to get the supply of FICN from his sources at the rate of Rs 200 for Rs 500.

The DCP also mentioned that during investigation of this case and earlier detected similar cases, it has been revealed that many Bangladesh-based elements are pumping FICN in India through the Bangladesh border and also suspected that a large portion of the money derived from FICN goes to buy sophisticated weapons.

A case under the relevant section of BNS has been registered at the Special Cell police station, and investigation has been taken up, Kaushik said.