Fake currency note circulation racket: Prime accused gets bail from High Court

Mysuru: The High Court has granted bail to prime accused Vinod, a resident of Hebbal in Mysuru, who was arrested for his alleged involvement in duping a shop owner by purchasing one kg gold worth paying Rs. 32 lakh in Rs 2,000 fake currency notes.

He was granted conditional bail by Judge Ratnakala asking him to furnish Rs. 1 lakh bond, a guarantee of similar amount, to be present every Tuesday in the Police Station and sign and not to threaten witnesses.

Earlier, the Bengaluru 44th City Civil and Sessions Court had rejected the bail application of Vinod. The Sessions Court had accepted the Public Prosecutor’s argument that Vinod had involved himself in the fake note currency racket.  This involvement was not only very serious but he was also involved with terrorist organisations and through this activity, he had intentions of disrupting the economic activity, which was a serious threat to the country. The court had accepted the argument and denied him bail.

Vinod later approached the High Court. Mysuru’s Pragabhi Law Associates’ Advocates S. Arun Kumar and wife Rashmi Arun had represented him.

The advocates had argued that their client was not involved directly in the fake currency racket. He had no intentions of disrupting the economic activity. They were willing to present full argument before the court during trial, the advocates had appealed.

Last year on April 24, Vinod and his associates Hemant and Harish Kumar were accused by gold merchant Dinesh Kumar of Halsoor that they had duped him by purchasing 1 kg gold paying Rs. 32 lakh in fake currency notes.

The Halsoor Gate Police had registered a case in this regard. They had arrested the accused in Mysuru on May 10 based on the mobile call details.

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