The National Investigation Agency has widened its action in the ₹17.29 crore counterfeit currency case linked to the Punjab National Bank currency chest in Saharanpur, Uttar Pradesh, with two more alleged key conspirators now in custody. The latest arrests take the total number of people arrested in the case to seven, according to the agency.
Two Arrests in Haryana and Himachal Pradesh
Ajay Kumar, son of Ramesh Chand, was arrested from Ambala in Haryana on October 16, 2026. Harish Rounta, son of Devi Chand Rounta, was arrested from Manali in Himachal Pradesh on October 22, 2026. The NIA says both men were involved in the production and large-scale supply of counterfeit Indian currency notes.
Investigators allege that the fake currency passed through several other accused before reaching the PNB currency chest at the Civil Lines branch in Saharanpur. The two arrested men are described as close associates of Adesh Choudhary and others previously linked to the effort to push the notes into the banking system.
How the Case Began
The case originated on 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, No. 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 probe and re-registered it on September 3, 2026, as RC-02/2026/NIA/LKW at its Lucknow branch.
During the initial inquiry, the alleged role of three bank employees came to light, and the bank subsequently suspended them. The agency has so far arrested 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.
Probe Into Cash Movement and Banking Links
The NIA is examining the full supply chain, including the roles of bank personnel and intermediaries, and how the counterfeit notes entered and were placed in the currency chest. The investigation is also looking at 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 shipment contained 1,900 bundles of ₹500 notes and 800 bundles of ₹200 notes.
Officials are assessing whether counterfeit notes were included in consignments that entered the formal banking network and whether any such notes may have reached branches or ATMs. The agency has said further investigation is continuing to identify the remaining co-accused and suspects and to trace the network involved in printing, transporting and placing the fake notes.
