Police today arrested a person from West Bengal and busted an inter-state racket of circulation of fake currency notes.
Counterfeit currency with a face value of Rs 3.95 lakh were seized from Habeeb Shaik, a native of Malda district, who was arrested from Secunderabad railway station near here by Sleuths of Commissioner's Task Force.
Shaik procured these notes from one Nazeeb after a man named Hyderabadi Ghouse contacted him to provide fake notes, police said.
Shaik was in the process of handing over the notes, in denomination of Rs 500 each, to Ghouse for circulating them in Hyderabad when a police team nabbed him, they said.
A manhunt has been launched for Ghouse and Nazeeb.
