A court here on Thursday sentenced two men to five years in jail for possessing fake currency notes amounting to Rs 49, 88, 000.
Additional Sessions Judge Rakesh Pandit awarded five - year jail terms to Ekramul Ansari and Sharda Shankar Mahato after convicting them for hatching a conspiracy to traffic 4, 988 fake Indian currency notes (FICNs) of Rs 1, 000 denomination from Dubai to Delhi.
The court has convicted them under various sections dealing with criminal conspiracy, possessing counterfeit currency and under various provisions of the Unlawful Activities (Prevention) Act as they were members of a banned terrorist outfit also.
While Ansari was asked to pay a fine of Rs 6, 000, Mahato was fined Rs 4, 000.
The court said that prosecution has proved its case that accused Ansari was found in conscious possession of 4, 988 FICNs.
The National Investigation Agency alleged that Ansari and Mahato had hatched a conspiracy to circulate fake currencies in India to harm the country's economy.
The Directorate of Revenue Intelligence arrested Ansari from Delhi's airport on April 18, 2014 and recovered 4, 988 high quality FICNs of Rs 1, 000 denomination.
Later, Mahato was arrested and the case was transferred to the NIA.
Ansari and Mahato were both residents of Champaran in Bihar.
Ansari had gone to Dubai and started working there as a tailor.
The NIA alleged that the fake notes were brought by Ansari to be delivered by Mahato in Patna.