Srinagar: A court here Tuesday dismissed the bail applications of 12 people were arrested by police for allegedly operating a fake currency racket last week.
Last Tuesday, police had claimed to have busted a major fake currency racket with the arrest of 12 persons, including the kingpin and recovered counterfeit currency notes with a face value of Rs 8.85 lakh from them here.
The counsels for the accused submitted before the CJM Srinagar V S Bhou that the accused “reputed businessman who have been implicated by police in a false case.”
The CJM rejected the bail pleas moved by the accused after the Chief Prosecuting Officer Aafaq Ahmed argued that they were involved in “anti-national activities” and the alleged kingpin in the racket had confessed that fake currency was being pumped from across the border.
The accused were represented by Advocate Aijaz Beedar, Advocate Mushtaq Ahmed Dar, Advocate Fayaz Ahmed, Advocate Salim Yousuf and Advocate Shameem Ahmed.