'Printing fake foreign currency an offence'

The Supreme Court has ruled that counterfeiting of foreign currency in this country will be an offence just as printing fake rupees is.

The law is not restricted to Indian currency notes alone, but includes dollar as well, the Court said while confirming the sentence of seven years' rigorous imprisonment on the accused person.

Several persons were found counterfeiting $20 bills in Chennai. During the raids, bundles of such bills were recovered from various company offices and lodges.

The trial court and the high court convicted them. The Supreme Court affirmed their sentences, rejecting their argument that the definition of counterfeiting in the Indian Penal Code did not include foreign currencies.

The judgment said: "Strange though it may appear, increasingly, our country is becoming notorious for spiralling number of cases involving counterfeiting of currency notes, both of our country and foreign countries and stamp papers."