Retired I-T official held with fake notes

The man was identified as Nagasubramanian, a resident of Palavakkam. He went to a shop and bought milk, for which he handed over a Rs 100 note to the shopkeeper. “After he left the spot, the shopkeeper suspected the currency to be fake and alerted the police. A police team then conducted an inquiry with Nagasubramanian, who gave contradictory answers. Following this, his house was searched,” police said.  

During the search, the police found 105 fake notes of Rs 100 denomination, and another 89 notes of Rs 50 denomination. The Rs 100 notes, with face value of Rs 10,500, were found to be fake, police said. Following this, Nagasubramanian was arrested and remanded in judicial custody. Police are conducting inquiry on how Nagasubramanian had got counterfeit currency.

During their inquiries with the shopkeepers in the neighbourhood, the officers found that Nagasubramanian has been spending Rs 100 notes at the local shops for small purchases during the last two months, police said.  He initially told the police that he got the notes from an ATM. Later, changed his version and told them that he got it from shops while making purchases. Police, however, noted that the seized fake notes were kept together, hid-den under the clothes in the bureau, indicating that there was something amiss. Nagasubramanian has settled in Chennai after retirement, but he made regular trips to Delhi to meet his friends, police added.