Chandigarh, Nov 14 : Punjab Police have busted an interstate fake currency module with the arrest of two individuals from Dera Bassi and seized Rs 9.99 crore counterfeit and demonetised currency from their possession, said Director General of Police (DGP) Gaurav Yadav here on Friday.

Those arrested have been identified as Sachin and Gurdeep, both residents of Kurukshetra in Haryana.

The recovery includes Rs 11,05,000 in original old currency and Rs 9.88 crore in fake currency. Apart from recovering the currency, police teams have also impounded their white Scorpio-N, in which they were travelling.

DGP Yadav said preliminary investigation has revealed that the accused were using a deception method by placing real notes on top of bundles while hiding fake notes inside to cheat unsuspecting individuals. They are linked to multiple cheating and counterfeit cases across the states of Punjab, Haryana and Rajasthan.

The DGP said that technical analysis and further interrogation are underway to identify the full network and identification of more associates involved in this module.

Sharing operational details, Senior Superintendent of Police (SAS Nagar) Harmandeep said a tip-off was received about the movement of two individuals linked to an interstate fake currency module.

Special teams were formed under the supervision of Superintendent of Police (Rural) Manpreet Singh and DSP (Dera Bassi) Bikramjit Singh Brar.

Acting swiftly, the teams, led by SHO (Dera Bassi) Sumit Mor and in-charge anti-narcotics cell Malkeet Singh, laid a special checkpoint near PWD Rest House on the Ghaggar Bridge on the old Ambala-Kalka highway and intercepted the duo and recovered the fake and demonetised currency from their possession.

The SSP further stated that the probe has revealed that arrested accused persons have duped several people in Punjab and neighbouring states and have criminal backgrounds with involvement in prior cases of cheating and counterfeit currency.

More arrests and recoveries are likely in the coming days as the probe is ongoing, he added.

/IANS