(MENAFN- Kashmir Observer) Srinagar- A court in Baramulla district on Friday rejected bail plea of an accused who has been arrested by police in connection with a case involving alleged counterfeit currency.
“The accusations against the accused are grave and serious in nature. The offences U/s 178 to 180 of BNS pertain to counterfeit currency, which poses a direct threat to the economic security and integrity of nation,” Sub Judge Baramulla, Iram Haneef Khan, said while rejecting bail application of the accused, Irfan Ahmad Bhat arrested in connection with a case (FIR: 42/2025).
“The material collected by the investigating agency so far including the seizure of fake currency notes to the tune of Rs. 1,47,500 (Rupees One Lac Forty-Seven Thousand and Five Hundred Only) from the possession of the applicant/accused, prima facie connects the accused/applicant with the alleged offences,” the court said.
The court noted that as per prosecution, investigation remains in progress, and that there is every possibility that more persons involved in the“racket” may be unearthed during the investigation. “Granting bail at this juncture in considered opinion of this court impedes or prejudice ongoing investigation and may enable the accused to temper with evidence or influence potential witnesses,” the court said.
Earlier APP in opposition to bail application contended that the offences under Sections 178, 179, and 180 of the BNS are exceptionally grave, striking at the very foundation of the nation's economic integrity and public trust.
The APP said while Section 178 of BNS pertains to counterfeiting coin or government stamps, punishable with imprisonment up to seven years, Section 179 of BNS addresses using as genuine a counterfeit coin or stamp, facilitating the circulation of fake currency, also punishable with imprisonment up to seven years. Similarly, he said, Section 180 of BNS involves possession of counterfeit coin or stamp, indicating intent to perpetrate economic harm, carrying a punishment of up to seven years.“The punishments associated with these offences clearly depict the gravity that the legislators intended to attach with these offences,” the AAP said.
The alleged involvement in counterfeiting Indian currency constitutes a direct assault on the economic stability of the nation, particularly in the sensitive region of District Baramulla, where such activities could exacerbate societal unrest, the AAP added.

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