The National Investigation Agency (NIA) conducted searches at two houses in Hazaribagh early Wednesday in connection with an alleged interstate fake Indian currency note (FICN) network. The operation, which lasted around seven hours, resulted in the seizure of documents, mobile phones and a printer-scanner machine. No arrests were made during the searches.
An NIA team from its Patna branch, accompanied by local police and district administration officials, reached the residences of Pradeep Saw and Uday Saw at Shaheed Subhash Barla Marg in Hurhuru Baba Path under the Bada Bazar police station area between 3 am and 4 am.
The two houses were cordoned off during the operation, with entry and exit restricted while the search was underway. After completing the searches, the team took the seized materials to Ranchi for further examination.
According to sources, the searches are linked to an investigation into a suspected interstate counterfeit currency supply network. The probe reportedly gained momentum after police in Bihar's Aurangabad district arrested Surendra Kumar and Vijay Yadav in Madanpur in late October with 497 counterfeit Rs 500 notes, having a face value of approximately Rs 2.48 lakh.
During questioning, Vijay Yadav allegedly told investigators that he procured counterfeit notes from Pradeep Saw of Hazaribagh on a one per cent commission and circulated them in different districts of Bihar and Jharkhand. The consignment was reportedly intended to be delivered to one Ranjay Paswan. Investigators also found that several seized notes carried identical serial numbers, raising suspicion of organised printing activity.
Sources said the case was subsequently referred to the NIA by the Union Home Ministry's CTCR Division, considering its alleged interstate links and possible wider connections. The agency is also examining the suspected supply chain and possible hawala transactions.
Local residents said people occasionally visited the two houses late at night, though their identities were not known. Family members, meanwhile, claimed that no suspicious material was found during the searches.
The NIA has not issued an official statement on the operation. The seized electronic devices and documents are expected to be examined as part of the ongoing investigation. The allegations against the individuals concerned remain subject to investigation.