Fake Rs 500 note-like paper worth Rs 82 lakh found in Nagpur house, tenant absconding

A large quantity of printed paper resembling counterfeit notes has been found in a house in Chaitanyeshwar Nagar, Nagpur. Paper worth Rs 82 lakh in all, made to look like Rs 500 notes, has been seized.

The main suspect is named as Pushpam Bandane. He did not mix much with anyone in the area and would not let even his landlord inside the house.

He had not paid rent for several months. On Saturday, the landlord took neighbours and MNS workers along and opened the house. Inside they found thousands of printed sheets that looked like genuine Rs 500 notes.

Given the seriousness of the matter, police went to the spot and investigated. They found paper worth about Rs 37 lakh, printed on both sides like Rs 500 notes. Paper worth about Rs 45 lakh, printed on only one side, was also found there.

It is still not clear why Bandane printed the paper on such a scale. However, seeing his suspicious behaviour, local residents strongly suspect that he had been passing off these fake printed notes by mixing them with a large amount of genuine currency.

Documents recovered from the house show that he had recently deposited Rs 1 lakh in a bank. This has raised several questions about where he was using the printed paper. Bandane is currently absconding and police are searching for him.

The landlord says Bandane had earlier argued over the rent and threatened him by showing a knife. A formal complaint was lodged at Wathoda police station, but the police took no action then.

Residents are angry. They say that had the police taken strict steps at that time, this illegal trade in fake notes would have come to light then.