The National Investigation Agency (NIA) has made a major breakthrough in a case involving the alleged disappearance of genuine cash from a Punjab National Bank currency chest, replaced instead with counterfeit notes worth ₹17.29 crore. The agency has arrested Amit Kumar, a bank official identified as a key accused, and is now widening the probe to determine how such a large quantity of fake currency entered the chest, and where the genuine cash allegedly removed from the facility ended up.
How the Case Came to Light
The case centres on a PNB currency chest located at Sophia Market in Saharanpur. During the investigation, counterfeit currency with a face value of ₹17.29 crore was reportedly recovered from the facility, a discovery that immediately raised serious questions about the bank's internal security and cash-handling procedures. Preliminary investigation indicated that genuine currency kept inside the chest may have been removed and replaced with counterfeit notes, a scale of substitution that points to something well beyond a routine handling error.
Who Was Initially Named
After the matter surfaced, a named complaint was filed against three bank managers: Ravi Kumar Kansa, senior manager at the divisional office; Sushil Sharma, manager of the currency chest; and Amit Kumar, manager of the currency chest at Kheda Bazar Jagadhri under the Karnal division. All three were suspended following the development.
How the NIA Took Over
The NIA's Lucknow branch registered a case at its police station on September 3 and subsequently took over the investigation from local authorities. Following registration, NIA teams, a special investigation team, and local police conducted searches at multiple locations to trace the accused. Amit Kumar was ultimately arrested from the currency chest at Kheda Bazar Jagadhri in the Karnal division.
What Investigators Are Trying to Establish
Investigators are now focused on two core questions: how the counterfeit notes were actually brought into the currency chest in the first place, and where the ₹17.29 crore in genuine cash allegedly removed from the facility was taken, and through whom it was disposed of. Given the sheer scale of money involved, investigators suspect handling an amount this large may have required more than one person, raising the possibility of a wider organised network rather than a single individual acting alone.
Other Bank Employees Also Under Scrutiny
The role of four other bank employees is also being examined, individuals reportedly believed to have been in contact with the main accused. Investigators are examining their communications, financial transactions, duty records, and access to the currency chest, work aimed at establishing whether any employee deliberately bypassed security procedures or allegedly assisted in replacing genuine currency with counterfeit notes. This kind of methodical financial investigation, tracing access logs, communication trails, and money movement together, is exactly what's needed to distinguish genuine complicity from simple proximity to the accused.
Two Suspects Still at Large
Ravi Kumar Kansa and Sushil Sharma are currently reported to be absconding, with investigating teams conducting searches at possible locations to trace and arrest them. During questioning, Amit Kumar is expected to be pressed for information about other individuals allegedly involved in the suspected conspiracy, as well as the current whereabouts of the missing genuine cash.
A Widening Scope
This investigation has moved well beyond simply recovering the counterfeit currency itself. Agencies are now examining the alleged wider network, possible collusion within the bank, and the actual movement of funds, scrutinising financial transactions, internal records, and other documentary evidence to reconstruct the full sequence of events and identify everyone who may have played a role.
Further action against other bank employees or outside individuals could follow if their involvement emerges as the investigation progresses. The complete picture of the alleged conspiracy is expected to become clearer as investigators work through documents, financial records, and statements gathered during the ongoing probe. As with any case at this stage, the allegations against the accused remain subject to the full judicial process.
FAQs
Q1. What is the total value of the counterfeit currency recovered?
₹17.29 crore in face value, recovered from a PNB currency chest at Sophia Market in Saharanpur.
Q2. Who has been arrested so far?
Amit Kumar, manager of the currency chest at Kheda Bazar Jagadhri, identified as a key accused in the case.
Q3. Who else has been named but remains at large?
Ravi Kumar Kansa and Sushil Sharma, both bank managers who were suspended after the initial complaint and are currently reported absconding.
Q4. What are investigators trying to determine now?
How the counterfeit notes entered the chest, where the removed genuine cash was taken, and whether other bank employees knowingly assisted in the alleged substitution.