Investigative Reporting Team | Patna15 hours ago
The 2027 UP election is coming. Preparations have to begin now. We circulated ₹65 crore in the last election. This time, the target is ₹80 crore. Set up the leader. We have people in every district. Place the order and the money will be delivered to every Assembly constituency. For ₹1 crore, you will get ₹3 crore in counterfeit notes. The printing will be such that even banks will not detect them.
These are claims made by a man identified as Ratul, who allegedly operates a counterfeit currency network from Guwahati. During an undercover investigation, a Dainik Bhaskar reporter posing as a buyer contacted Ratul and negotiated a purported ₹80-crore deal for counterfeit currency intended for the 2027 Uttar Pradesh Assembly election.
The investigation team said it received information about a plan to move a large consignment of counterfeit currency into Uttar Pradesh before the election, allegedly through Bihar. Read and watch the full plan to circulate a consignment of counterfeit notes in the Uttar Pradesh election..
Investigation traces network from Nepal to Guwahati
The investigation began after the team received information about a suspected counterfeit currency network. Its initial lead came from Inarwa in Nepal’s Parsa district, where the team learnt about an alleged female agent, Maya Paudel, involved in deals between Bihar and Uttar Pradesh.
According to information obtained during the investigation, increased enforcement by the Nepalese authorities had allegedly forced parts of the counterfeit currency trade to shift from Nepal to Guwahati.
The team subsequently identified Ratul as an alleged key figure in the network. An undercover conversation with him resulted in a purported deal worth ₹80 crore for counterfeit currency ahead of the Uttar Pradesh election.
Reporter: “There is an election in UP in 2027. We need the material.”
Ratul: “It will be available. Preparations for the election are already under way.”
Reporter: “How will the material reach us in UP?”
Ratul: “The first time, you will have to come to Guwahati, see the material and finalise the deal.”
Reporter: “We will come.”
Ratul: “How much are you planning to start with?”
Reporter: “We are planning ₹3 crore. How much will we have to pay?”
Ratul: “You will only have to pay ₹1 crore.”
Reporter: “How long will it take to prepare ₹3 crore?”
Ratul: “Once you place the order, the material will be ready.”
Bundles of counterfeit notes being prepared for delivery; the agent sent this video to the Bhaskar reporter.
Agent claims managers will be placed in every district
During the conversation, Ratul allegedly said he would appoint his own managers in different locations before the counterfeit notes were delivered. According to him, the notes would reach these managers and would then have to be distributed by the buyer’s people.
Ratul also claimed that the notes were sourced from China and that their colour would not fade for three years.
Reporter: “We need the material in every district of UP for the election.”
Ratul: “Do not worry. Everything will be arranged. I will appoint managers there.”
Reporter: “Your material went to UP during the previous election, right?”
Ratul: “Yes, it did. It will go this time as well.”
Reporter: “You deliver my material to UP.”
Ratul: “It will be done. My entire network will be put to work.”
Reporter: “The material must be of good quality. It has to be distributed by a political leader, so there should be no complaints.”
Ratul: “The material is top quality. The colour will not fade for three years.”
Reporter: “Where does the material come from?”
Ratul: “It is from China and Pakistan. It comes to India through Bangladesh.”
Reporter: “Where is the currency chest? Will you deliver directly from there?”
Ratul: “There is a chest in Guwahati. The material will go directly from there to UP.”
Reporter: “What is the target for this UP election?”
Ratul: “₹65 crore went last time. This time it could be around ₹80 crore.”
Reporter: “There is a Yogi government in UP. Will that cause problems?”
Ratul: “We have agents not only in UP and Bihar but also in Delhi, Rajasthan and Haryana.”
Reporter: “Will your manager meet the political leader?”
Ratul: “None of our people will appear in front of anyone. The delivery will be made to you.”
Ratul claims large counterfeit deal took place during Bengal election
Ratul also claimed that a large counterfeit currency deal took place during the West Bengal Assembly election. According to him, consignments had been delivered to different locations before polling.
When asked whether the notes had been returned after being distributed, Ratul claimed that no complaints had been received from any election and that demand had already begun for the next election.
He allegedly told the reporter to visit Guwahati, collect the notes and test them in the market or deposit them in a bank. He claimed that the deal could be cancelled if there was any problem.
Ratul also allegedly said preparations for the UP election had to begin early because enforcement would become stricter closer to polling and the stock would therefore need to be arranged in advance.
According to Ratul’s claims, his network had supplied a large quantity of counterfeit currency during the previous UP Assembly election. He claimed that around ₹70 crore had been sent and that there had been no complaints.
Reporter reaches alleged counterfeit currency chest in Guwahati
After the telephone conversation with Ratul, the Bhaskar reporter travelled to Guwahati posing as an agent to reach the alleged counterfeit currency chest.
After the reporter contacted Ratul from Guwahati, Ratul gave the reporter’s number to an alleged associate named Rajiv. Around 90 minutes later, Rajiv called and asked the reporter to meet him near the Lokhra flyover.
Following Ratul’s instructions, Rajiv allegedly took the reporter towards the purported counterfeit currency storage facility.
Rajiv: “Is your money ready?”
Reporter: “Yes. Have you prepared the money?”
Rajiv: “We are getting a smaller bundle prepared for you from a large consignment that came from Bangladesh.”
Reporter: “You get material from here every day. How much stock do you have today?”
Rajiv: “Do not ask all that. Whatever the order, the material goes out.”
Reporter: “There will not be any problem here, will we be safe?”
Rajiv: “You are completely safe. The boss has everything arranged.”
Reporter: “Can you introduce me to Ratul?”
Rajiv: “The boss stays elsewhere. The deal will be done over the phone.”
Reporter stopped outside alleged facility; video shown after phone call
Rajiv first questioned the reporter in detail before speaking to Ratul on the phone. According to the investigation, Ratul knew that the purported buyer had come from Uttar Pradesh and was planning to distribute a large quantity of counterfeit currency during the election.
Rajiv then took the reporter from the Lokhra flyover towards a hilly area. After travelling some distance, they reached a small market where most shops were closed.
Rajiv took the reporter through a lane to an old two-storey building but stopped him outside, saying that some outsiders were present inside the office.
He then made a phone call and obtained a video showing the alleged processing, packing and stock of counterfeit notes.
Rajiv reportedly said that after the reporter had completed one or two transactions, he would be taken to the alleged printing unit.
An agent packaging fake currency like genuine notes. The agent showed the reporter this video from near the currency chest.
Video shows counterfeit notes packed like genuine currency
The video shown to the reporter allegedly showed three to four people packing bundles of notes. A large carton appeared to contain counterfeit notes worth around ₹2 crore, according to the investigation team.
The people involved were shown demonstrating the packing process and explaining how the counterfeit currency was allegedly being prepared to resemble genuine notes.
Bundles of ₹500 notes shown in the video appeared similar to genuine currency. The bundles were carefully packed in plastic wrappers.
Rajiv said the consignment was being prepared for delivery in Bihar. He claimed there was significant demand for counterfeit currency in Bihar and areas bordering Nepal, including outside election periods.
The agent showed black-coated counterfeit notes. Smugglers are using a new method to smuggle fake currency so that it can evade police scanning.
Two types of counterfeit notes allegedly shown in Guwahati
The reporter was allegedly shown two types of counterfeit notes at the purported currency chest in Guwahati.
One type was described as black-coated, while another appeared to resemble genuine currency. Rajiv claimed the black-coated notes were coming from China and Pakistan and could evade scanning.
He further claimed that the notes could remain usable for up to three years because of improved paper quality and printing.
According to him, earlier consignments deteriorated within around six months, whereas the newer notes were allegedly made using thicker paper and better-quality printing.
Alleged ₹80-crore deal negotiated from Guwahati
After the reporter reached Guwahati, Rajiv provided further information about the alleged counterfeit currency operation and contacted Ratul to discuss the purported deal.
Ratul allegedly said the operation was now being run from Guwahati because of the city’s proximity to Bangladesh. He claimed counterfeit currency from Pakistan and China was transported through Bangladesh before reaching India.
According to Ratul, the operation had previously been based in Nepal, where networks in Uttar Pradesh and Bihar were active. He claimed increased enforcement after a change of government in Nepal had forced the operation to shift to Guwahati.
He further claimed that Guwahati allowed consignments to be transported to different parts of India.
Where does the alleged counterfeit currency go?
The investigation raised further questions about the alleged network: where does the counterfeit currency from Guwahati go, which routes are allegedly used, and how are consignments transported to Bihar and Uttar Pradesh?
The investigation also seeks to establish who allegedly receives the consignments further down the chain, whether the same network operates across multiple states, and whether the claims made during the undercover conversations correspond to an operational network on the ground.
The next episode of the Bhaskar investigation will examine the alleged route from the Guwahati currency chest to Bihar and Uttar Pradesh, including the routes and network described by the people contacted during the investigation.
Next episode: How is counterfeit currency allegedly being delivered across the country from the Guwahati chest? Read the route map and the next part of the investigation.
