Fake notes deposited in ATM, wholesaler held

He has been identified as T Chandra Prakash Kankariya of George Town, who is into wholesale trade of plastic products. The manager of Kotak Mahindra Bank’s Kothavalchavadi branch on Tuesday found out that five notes of Rs 500 denomination deposited at an ATM kiosk the previous night were fake.

The counterfeit notes had been mixed with four notes in Rs 2000 denomination and 59 notes in Rs 500 denomination, totalling Rs 40,000. It was deposited into the account of Chandra Prakash Kankariya.

The manger lodged a complaint at the Kothavalchavadi police station and Chandra Prakash Kankariya was picked up for interrogation. He allegedly told police that he deposited Rs 2.40 lakh in total in two instalments, the business collection for the day, through the ATM kiosk and did not know there were counterfeit notes mixed in it.

The police suspect that the notes might have been given to him by the customers and he deposited them at the ATM kiosk without checking them properly.

However, he was arrested and remanded in judicial custodyon Thursday.