NIA Arrests 2 More Accused in ₹17.29 Crore Fake Currency Case at PNB Saharanpur

Lucknow/New Delhi, October 22, 2026: The National Investigation Agency (NIA) has arrested two more alleged key conspirators in the counterfeit currency case linked to the recovery of fake Indian notes with a face value of ₹17.29 crore from the Punjab National Bank (PNB) currency chest in Saharanpur, Uttar Pradesh. With these arrests, the total number of people taken into custody in the case has risen to seven.

Ajay Kumar, son of Ramesh Chand, was arrested from Ambala in Haryana on October 16, 2026, while Harish Rounta, son of Devi Chand Rounta, was arrested from Manali in Himachal Pradesh on October 22, 2026. According to the NIA, both men are among the principal conspirators involved in the production and large-scale supply of counterfeit notes.

The agency said the fake currency was moved through multiple accused persons before reaching the PNB currency chest at the bank’s Civil Lines branch in Saharanpur. The two men are also described as close associates of earlier arrested accused Adesh Choudhary and others linked to the plot to introduce the notes into the banking system.

The case dates back to 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, numbered 0431/2026, was registered the same day under Section 178 of the Bharatiya Nyaya Sanhita (BNS), 2023, against three accused persons. The NIA later 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 early stages of the inquiry, the alleged involvement of three bank employees came to light, after which the bank suspended them. The agency 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 now examining the full supply chain, including the role of bank personnel and intermediaries, and the manner in which the counterfeit notes entered and were deposited in the currency chest. The probe is also looking into the movement of a ₹111-crore cash consignment sent from Saharanpur to the Reserve Bank of India’s Jaipur office on July 6, 2026. That consignment comprised 1,900 bundles of ₹500 notes and 800 bundles of ₹200 notes.

Officials are assessing whether counterfeit notes were part of consignments that entered the formal banking network and whether any such notes may have reached branches or ATMs. The NIA said the investigation is continuing to establish the complete conspiracy, identify the remaining co-accused and suspects, and trace the network involved in printing, transporting and placing the fake notes.