Jahangir Sheikh Hasid is said to be have used color printers to produce fake Nepali and Indian currencies. A team led by chief of Metropolitan Police Range Lalitpur Superintendent of Police (SP) Bikram Thapa raided Hasid´s residence and extracted fake NRS 295,000 and IRS 5,000. Also extracted from his residence were two sets of color printers, fax machine and two fake pistols.
The 41-year-old from Uttarakhand of India had long been renting a house owned by Krishna Prasad Shrestha in Sainbu. According to Lalitpur Police, Hasid is a member of the racket which is largely involved in producing and spreading fake currencies in Kathmandu.