Chief Judicial Magistrate Srinagar Tuesday dismissed the bail applications of 12 accused who were arrested by police for allegedly operating fake currency racket.
Pertinently, Police had arrested 12 members of an alleged fake currency racket operating across the valley and recovered Rs. 8,85 000 from them in Srinagar last week.
The Counsels for the accused submitted before the CJM Srinagar V.S.Bhou that all the 12 persons are reputed persons and are leading businessmen who have been implicated by police in a false case. However, the Chief Prosecuting Officer Aafaq Ahmed representing the State argued that accused are involved in anti-national offences which are prejudicial to the security of the State and still vital aspect behind the sources of fake currency from across the border cannot be ruled. He submitted that the alleged kingpin of the fake currency racket has confessed that fake currency is being pumped from across the border.
While declining the bail applications, the CJM Srinagar said that with regards to the enormity of the crime committed, nature of allegations, the character of evidence collected and offences being against public interest and nation, no good ground is made out at this stage for admitting the accused persons on bail.