New Delhi, Aug 18: The National Investigation Agency (NIA) on Monday arrested two persons for their alleged involvement in circulation Fake Indian Currency Notes (FICN).

Two accused identified as Md. Baitullah and Md. Mukhtar were arrested in connection with a case which pertains to a conspiracy hatched by a network of individuals for production, circulation and smuggling of High-Quality Counterfeit Indian Paper Currency Notes, NIA said.

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In March this year, NIA registered the case based on a seizure made by DRI of Counterfeit Indian Paper Currency Notes of face value Rs 4,01,000 from arrested accused persons- Gulam Mortuja and Shajatur Rahman in Siliguri.

The investigation revealed that Gulam Mortuja was part of a well-organized syndicate of Fake Indian Currency Notes (FICN) circulators who were spread across the nation, NIA said.

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"Investigation has also revealed that this syndicate ran several agents to circulate FICN in India. In this connection, accused Md. Baitullah and Md. Mukhtar were two main agents working for Gulam Mortaza for circulation of FICN," read the release by NIA.

"Accordingly, surveillance was mounted and after a night-long operation, these two agents were located and arrested today morning. Searches were also conducted at their hideouts and incriminating material as well as electronic evidence has been seized," it said.

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