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Patan: Police have uncovered a major counterfeit currency racket operating in Gujarat's Patan district, seizing fake Indian currency worth Rs.2.46 lakh during a raid on a photocopy shop.

Acting on a tip-off, police raided a shop named Shivam Electronics in Delmal village, where they recovered 492 counterfeit copies of Rs.500 notes. The total face value of the seized fake currency is estimated at Rs.2.46 lakh.

Police arrested the alleged mastermind of the operation, Nikulji Hamirji Thakor, along with a juvenile allegedly involved in the racket. Authorities said both were caught red-handed during the raid.

Investigators also seized equipment used for producing the counterfeit notes, including a colour printer, a computer system, and a motorcycle. The total value of the confiscated equipment and other materials is estimated at Rs.1.01 lakh.

Preliminary investigations suggest that the network may have links extending to Delhi and Rajasthan, indicating the possibility of a wider counterfeit currency operation.

Police have also identified three additional suspects allegedly connected to the racket — Dheeraj Chauhan, a native of Banaskantha currently residing in Delhi; Kailash, originally from Rajasthan and currently based in Delhi; and Pappu Thakor, a resident of Mandalop in Chanasma taluka. All three suspects are currently absconding.

Authorities are now investigating how many counterfeit notes may have already entered circulation and whether more individuals were involved in the operation. Search operations have been intensified to trace and arrest the remaining accused.

Police officials said the investigation is ongoing and further revelations are expected as the probe progresses.