Thane Sessions Court Releases Counterfeit Currency Accused After Nearly 8 Years In Jail Following Guilty Plea

Thane, June 18: The Thane Sessions Court has convicted a man in a counterfeit currency racket and illegal possession of a firearm after he voluntarily pleaded guilty to the offences.

The man pleaded with the court to grant him the minimum punishment, stating that he had been languishing in prison since 2018 and had no one to fight his case or secure his release on bail.

He also claimed that he was suffering from several serious ailments, both mental and physical, and that prison conditions had affected his mental stability.

Considering the facts placed before it by the accused and the fact that it was his first offence, while also noting that the offence directly affected the nation’s security, the court held the man guilty of the offences committed but ordered his release after sentencing him to the period already undergone in custody. The decision was taken after considering that the accused had spent nearly eight years behind bars awaiting the conclusion of the case.

Court accepts guilty plea

Additional Sessions Judge V.L. Bhosale accepted the guilty plea of accused Ashish Shivkumar Sharma and convicted him under various provisions of the Indian Penal Code relating to counterfeiting currency, the Arms Act and the Maharashtra Police Act.

According to the prosecution, Mumbra police conducted a raid on July 7, 2018, at an apartment in Diva following specific intelligence inputs. During the operation, police allegedly uncovered a counterfeit currency manufacturing setup and seized a Canon scanner-printer, scissors, pens, a country-made firearm with live cartridges and counterfeit currency notes of various denominations worth Rs 1,09,650.

The court noted that Sharma, along with co-accused Mohd. Ismail Yasin Siddhiqui and another absconding accused, was allegedly involved in counterfeiting Indian currency notes. The charge sheet was subsequently filed after investigation and the matter was committed to the Sessions Court.

Health and incarceration cited

While Sharma had initially pleaded not guilty when charges were framed in April 2026, he later submitted a handwritten application on June 16, 2026, expressing his desire to plead guilty. In the application, he cited prolonged incarceration, lack of family support and health issues, including diabetes, hypertension and knee-related ailments.

After questioning the accused in open court, the judge concluded that the plea was voluntary, unequivocal and made without coercion. The court then accepted the plea and dispensed with the need for recording prosecution evidence against Sharma.

Also Watch:

Released after time served

During sentencing, the court observed that counterfeiting currency is a serious economic offence that undermines financial stability and harms the national economy.

It also noted that the accused was allegedly the principal person operating from the premises where the counterfeit currency manufacturing equipment was found and that he was in possession of an illegal firearm and ammunition.

Meanwhile, the trial against co-accused Mohd. Ismail Yasin Siddhiqui, who has pleaded not guilty, will continue separately before the Sessions Court.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/