The quartet was nabbed from a flat at Raheja Vihar, Powai. The arrested were identified as Kishore Lalwani alias Lala, Ashok Awasti alias Hubli, Gulam Khimnani and a Pakistani national, Salim Yakub Kara. Fake currencies, believed to have been smuggled in from Karachi via Kathmandu in Nepal and Kutch and Jamnagar in Gujarat, were recovered from the gangsters, stated Additional Commissioner of Police (north-west) Rakesh Maria.

Investigations have revealed that the fake notes were circulated through beer bars where notes of Rs 500 denomination are exchanged for smaller denomination on the pretext that it would be spent on dancers and to tip bar girls. Each night the gang visited 6-7 bars, police claimed.

For wider circulation of fake currencies, the gangsters used the roadside hotelsalong Mumbai-Bangalore national highway.