Bail denied to accused in fake currency notes case

Their circulation detrimental to economy and hampers financial regulation, says Delhi High Court

The Delhi High Court has observed that fake currency has propensity to have a disastrous effect on the economy and noted the process of making the notes has reached a level of immaculate sophistication due to which they are indistinguishable from real notes. “Circulation of fake currency notes is severely detrimental to the economy and hampers the financial regulation of the country,” Justice Subramonium Prasad said while rejecting the bail plea of a man who was a part of a well-organised syndicate involved in printing, procuring, circulating fake Indian currency notes. “The production of counterfeit currency notes often stems from dissatisfaction with a country’s growth, and is therefore, aimed at financially disintegrating and destabilising the steady equilibrium of liquidity in the economy,” Justice Prasad said.