The Bombay High Court has acquitted a city resident from charges of counterfeiting currency notes and possessing material for forging currency.
However, Justice S C Dharmadhikari, in a recent order, found 32-year-old Arvind Verma guilty of possessing 330 counterfeit currency notes of Rs 100 denomination each and using them as genuine.
The trial court had on August 8, 2008, found Verma, a resident of suburban Kandivali, guilty of making and possessing counterfeit notes and using them as genuine. The court had also found him guilty of possessing materials for forging currency.
Verma was sentenced to 10-year rigorous imprisonment and another three years for default in payment of Rs 20,000 fine. He filed an appeal in the Bombay High Court, which acquitted him on two counts but upheld his conviction for two other offences.
For counterfeiting currency notes and possessing materials for forging notes, Verma was sentenced to 10-year RI but he was acquitted by the High Court on these counts.
However, for the offence of using fake currency notes as genuine, the court awarded him seven-year imprisonment. Besides, Verma was sent to jail for five years for possessing fake currency. Both sentences were to run concurrently.
Since he had already put in seven years in jail, the High Court ordered his release from prison unless he was required in any other offence.
Two other accused, Akhilesh Bramhadev Tiwari and Ramvilas Ramdhari Chauhan, were, however, acquitted of these offences as the court did not find any evidence against them.
It was prosecution's case that on March 7, 2007, police were told that three persons would come to Infinity Mall in suburban Andheri with fake currency and a trap was laid.
