21 June,2026 02:01 PM IST | Thane | mid-day online correspondent
Representational Image
A court in Thane has convicted a 38-year-old man in a 2018 fake currency and illegal firearms possession case after he pleaded guilty to the charges. Taking into account the period he has already spent behind bars, the court sentenced him to imprisonment already undergone and ordered his immediate release upon payment of a fine.
Additional Sessions Judge V L Bhosale passed the order on June 17. A copy of the judgment became available on Saturday.
The convicted man, Ashish Shivkumar Sharma, had been in judicial custody since July 11, 2018, following his arrest in connection with the case.
The case dates back to a police raid conducted in the Diva area of Thane district in July 2018.
During the operation, police allegedly recovered counterfeit currency notes with a face value of Rs 1,09,650 from Sharma's possession. Investigators also seized a scanner-printer believed to have been used in the production of fake notes, along with an unlicensed firearm.
Following the raid, police registered offences related to counterfeiting currency and illegal possession of arms, leading to Sharma's arrest and subsequent judicial custody.
While delivering the verdict, the court underscored the gravity of offences involving counterfeit currency.
"The offence of counterfeiting currency notes is a serious economic offence. Counterfeit currency undermines financial stability and harms ordinary citizens and the national economy," the court observed in its order.
The judge noted that such crimes have wider implications beyond individual victims, as they can affect public confidence in the financial system and create economic challenges.
Despite recognising the seriousness of the offence, the court considered several mitigating factors while deciding the sentence.
The judge took note of Sharma's poor health condition, lack of family support and the fact that he had already spent nearly eight years in judicial custody awaiting the conclusion of the case.
After weighing these factors against the nature of the offence, the court concluded that a further prison term was not necessary.
"Taking an overall view of the matter and balancing the gravity of the offence against the substantial period already undergone, this court is of the considered view that the sentence of imprisonment already undergone by the accused, together with a fine, would meet the ends of justice in this case," the order stated.
The court directed Sharma to pay a collective fine of Rs 8,600 for various offences linked to the case.
Upon payment of the fine and completion of the required formalities, the court ordered his immediate release from custody.
The judgment effectively brings to a close proceedings against Sharma, who admitted guilt during the trial.
The case, however, remains pending against the second accused, Mohd Ismail Yasin Siddhiqui.
Unlike Sharma, Siddhiqui has pleaded not guilty to the charges. As a result, the court has ordered that proceedings against him continue separately through a regular trial process.
The prosecution is expected to present evidence against the co-accused in the coming hearings, while the court will independently assess his role in the alleged offences before reaching a verdict.
(With inputs from PTI)
