Ahmedabad/Surat, March 27 (IANS) A key associate in a fake currency racket involving forged Rs 500 notes has been arrested by the Ahmedabad Crime Branch, as investigators expanded their probe into a network allegedly linked to a self-styled godman known among associates as “Yoga Guru”.​

The accused, Bhavesh Gajera (46), a resident of Kamrej in Surat, was taken into custody for his role in manufacturing and circulating forged Indian currency. He has been remanded in police custody for six days.​

The arrest follows a major operation on March 18 in which the city’s Crime Branch intercepted a vehicle in the Amraiwadi area and detained seven individuals, including a woman.​

Officers recovered counterfeit Rs 500 notes with a face value of Rs 2,48,26,500 from the vehicle.​

The accused were allegedly on their way to deliver and circulate the notes when they were apprehended, and were later remanded for 10 days for questioning.​

An official said, “Another accused who assisted in making fake Indian currency notes of Rs 500 denomination has been arrested,” adding that Gajera “was present during the conspiracy to print fake notes and played an active role in the crime”.​

Investigators said that further inquiry revealed that in early February 2026, Gajera, along with co-accused Mukesh Thummar and Ramesh Balar, had already circulated counterfeit notes worth about Rs 20 lakh.​

Police stated that he was part of a pre-planned conspiracy led by the main accused, Pradip Jotangia, described in the investigation as a self-styled spiritual figure or “Guru/Baba”, and his associates.​

According to the Crime Branch, Gajera provided financial assistance for procuring equipment and materials used to print the fake notes and was involved in arranging their circulation.​

Three mobile phones worth Rs 15,000 were seized from his possession.​

The case forms part of a wider counterfeit currency racket that investigators say operated from an ashram-based setup in Surat linked to the group.​

Authorities earlier uncovered a printing unit equipped with printers, cutting machines and specialised paper resembling currency sheets.​

Police said the network was organised and methodical, with members sourcing high-quality paper with imitation security features from suppliers in China and setting up printing operations at residential premises.​

The group initially tested the fake notes in small transactions before expanding distribution through informal channels such as local markets and intermediaries.​

Officials said the probe is ongoing to identify additional individuals linked to the racket, trace the supply chain of materials, and establish the full extent of the operation.​

–IANS

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