The National Investigation Agency (NIA) searched four states on Saturday and busted fake Indian Currency Notes (FICN) rackets being carried out in various parts of the country by seizing fake notes, currency printing paper, printer and digital gadgets.

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The anti-terror agency carried out these searches in Maharashtra, Uttar Pradesh, Karnataka and Bihar as part of its investigation into a case registered on November 24 this year under various sections of the Indian Penal Code (IPC).

"The case relates to a larger conspiracy hatched by suspected individuals for the trafficking of FICN across borders and for promoting its circulation across various states of India," said the NIA.

Based on credible information, the NIA teams cracked down at the premises of accused Rahul Tanaji Patil alias Javed in Kolhapur district of Maharashtra, Vivek Thakur alias Aditya Singh in Shahjahanpur district of Uttar Pradesh, Mahendra in Ballari district of Karnataka, and suspects Shiva Patil alias Bhimrav in Yavatmal district of Maharashtra and Shashi Bhushan in Rohtas district of Bihar.

The searches led to the seizure of FICN of a face value of Rs 6,600 (in denominations of Rs 500, Rs 200 and Rs 100), along with currency printing papers, from the house of Vivek Thakur. He, along with Shiva Patil and others, used to procure fake currency and its printing accessories from the bordering countries for circulation across India, said the NIA.

NIA investigations further revealed that Rahul Tanaji Patil was using fraudulently obtained SIM cards to take payments by promising to supply fake currency notes, said the agency, adding that "the search at Mahender's house led to the seizure of a printer meant to be used for FICN."