New Delhi, April 5 (IANS): The Delhi High Court recently refused to grant bail to a man implicated in a fake currency case.

The accused, identified as Irshad alias Bhuru, was allegedly involved in the supply and distribution of fake Rs 2,000 notes. Counterfeit notes worth Rs 3 lakh were reportedly seized from his premises.

Presiding Justice Swarana Kanta Sharma noted the severe implications of circulating counterfeit currency on the nation's economy, security, and the general public's welfare.

Noting the gravity of the offence, Justice Sharma stressed the need for the judiciary to adopt a stringent stance in such matters.

The court also elaborated on the broader dangers associated with counterfeit currency, noting its role in enabling money laundering, terror financing, and other organised crimes.

Moreover, the innocent individuals who might unwittingly handle such money face substantial financial and reputational risks, along with potential legal consequences.

"It is further observed that individuals who unknowingly come into possession of counterfeit currency also face significant risks and repercussions. Innocent consumers and businesses may unknowingly accept counterfeit money in transactions, only to later discover that they have been defrauded or cheated," the court said.

It added: "This can lead to financial losses, legal liabilities, and damage to reputations, particularly for businesses that unwittingly accept counterfeit currency as payment for goods or services."

Despite the defence counsel's claims of wrongful implication and accusations of evidence tampering by the police, the court found the allegations and the recovery of counterfeit notes from Irshad's premises compelling enough to reject the bail application.

The arrest took place on June 22, 2023, from Kairana in Uttar Pradesh, where the police found 150 fake Rs 2,000 notes in the accused's possession.

Considering the overall facts, circumstances of the case, the seriousness of the offence, and the recoveries from the house and shop of the accused, the court did not grant bail to the applicant at this stage.